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<title>Taxes General Forum</title>
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<title>Taxes General Forum</title>
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<item>
<title>Rent income on 1099&#45;MISC </title>
<link>http://www.beansmart.com/taxes/rent-income-on-1099-misc-34861-.htm</link>
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<description><![CDATA[ Some of my real estate rent income are reported on 1099&#45;MISC. Does this mean that I have to report these payment on Schedule C instead of E &#40;thus subject to potential SE tax&#41;&#63; &#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;&#61;...The post does not have replies yet. <a href="http://www.beansmart.com/taxes/rent-income-on-1099-misc-34861-.htm">Start the discussion here</a> ]]></description>
<pubDate>Thu, 23 Feb 2012 00:58:56 -0500</pubDate>
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<item>
<title>Capital Loss Carryover if no 2011 capital loss or gain </title>
<link>http://www.beansmart.com/taxes/capital-loss-carryover-if-no-2011-capital-loss-or-gain-34854-.htm</link>
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<description><![CDATA[ I have approx &#36;2500 of capital loss carryover from 2010.  I did not have any capital gains or losses &#40;no sales&#41; in 2011.  Can I still use up the remaining &#36;2500 capital losses on my 2011 income tax f...... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/capital-loss-carryover-if-no-2011-capital-loss-or-gain-34854-.htm">discuss here</a> ]]></description>
<pubDate>Wed, 22 Feb 2012 15:51:20 -0500</pubDate>
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<title>Can I deduct something from my vacation under following circumstances </title>
<link>http://www.beansmart.com/taxes/can-i-deduct-something-from-my-vacation-under-following-circ-34848-.htm</link>
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<description><![CDATA[ I was 30 days on vacation. I travelled to a place where I made one day job research at a location at my vacation destination. However, 29 days of the trip had nothing to do with the job and were pure...... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/can-i-deduct-something-from-my-vacation-under-following-circ-34848-.htm">discuss here</a> ]]></description>
<pubDate>Wed, 22 Feb 2012 13:36:40 -0500</pubDate>
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<title>Schedule E Royality question </title>
<link>http://www.beansmart.com/taxes/schedule-e-royality-question-34842-.htm</link>
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<description><![CDATA[   I own a fractional share of the mineral rights on some property in East Texas.  The oil company sent a 1099 Misc showing the gross royalities, deductions, taxes, and net amount paid to me.  In addi...The post does not have replies yet. <a href="http://www.beansmart.com/taxes/schedule-e-royality-question-34842-.htm">Start the discussion here</a> ]]></description>
<pubDate>Tue, 21 Feb 2012 20:38:09 -0500</pubDate>
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<title>Bad debt deductible as loss in MA </title>
<link>http://www.beansmart.com/taxes/bad-debt-deductible-as-loss-in-ma-34828-.htm</link>
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<description><![CDATA[ I deducted a nonbusiness bad debt on my federal taxes this year. When I started working on my MA state return in TurboTax, it asked me to adjust the short&#45;term loss for the bad debt. I dug around a b...The post does not have replies yet. <a href="http://www.beansmart.com/taxes/bad-debt-deductible-as-loss-in-ma-34828-.htm">Start the discussion here</a> ]]></description>
<pubDate>Tue, 21 Feb 2012 15:06:59 -0500</pubDate>
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<title>Can I claim the EIC &#40;earned income credit&#41; if being abroad for 1 year&#63; </title>
<link>http://www.beansmart.com/taxes/can-i-claim-the-eic-earned-income-credit-if-being-abroad-f-34823-.htm</link>
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<description><![CDATA[ I am self&#45;employed USC and I am having some doubts about claiming EIC. In IRS publication one of rules for claiming EIC is that You must be a US citizen or resident alien all year. My residence is ...... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/can-i-claim-the-eic-earned-income-credit-if-being-abroad-f-34823-.htm">discuss here</a> ]]></description>
<pubDate>Tue, 21 Feb 2012 13:51:16 -0500</pubDate>
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<title>My Accountant&apos;s Hobbies </title>
<link>http://www.beansmart.com/taxes/my-accountant-s-hobbies-34822-.htm</link>
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<description><![CDATA[ I used an accountant to prepare my tax return for the first time this year. We had absolutely no conversations of any kind pertaining to our hobbies, clutural preferences, or anything of the sort. Wh...... The post has 4 replies so far. Read more and <a href="http://www.beansmart.com/taxes/my-accountant-s-hobbies-34822-.htm">discuss here</a> ]]></description>
<pubDate>Tue, 21 Feb 2012 13:49:45 -0500</pubDate>
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<title>Military &quot;home&quot; </title>
<link>http://www.beansmart.com/taxes/military-home-34809-.htm</link>
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<description><![CDATA[ Military stationed in VA. Home in VA W&#45;2 from state enlisted in CT Wife went to parents home while he was stationed out of country and worked in CT W&#45;2&apos;s only from CT and w&#47;h only CT Home tax and int...... The post has 8 replies so far. Read more and <a href="http://www.beansmart.com/taxes/military-home-34809-.htm">discuss here</a> ]]></description>
<pubDate>Mon, 20 Feb 2012 21:10:02 -0500</pubDate>
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<title>IRS publication 527 </title>
<link>http://www.beansmart.com/taxes/irs-publication-527-34805-.htm</link>
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<description><![CDATA[ Can anybody help me understand the following part from IRS Publication 527&#63; What I get are&#58; 1&#93; When selecting Qualified joint venture, both spouses can get credit fro social security &amp; medicare 2&#93; Th...... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/irs-publication-527-34805-.htm">discuss here</a> ]]></description>
<pubDate>Mon, 20 Feb 2012 19:14:46 -0500</pubDate>
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<title>Realized Loss Reporting on Taxes&#63; </title>
<link>http://www.beansmart.com/taxes/realized-loss-reporting-on-taxes-34803-.htm</link>
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<description><![CDATA[ I have just sold two Funds that resulted in a &#36;10400 loss.  I&apos;m told by some folks that I cannot deduct this loss totally on my 2012 Taxes, but will have to prorate the loss over a number of years.  ...... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/realized-loss-reporting-on-taxes-34803-.htm">discuss here</a> ]]></description>
<pubDate>Mon, 20 Feb 2012 18:57:06 -0500</pubDate>
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<title>Realized Loss Tax Reporting&#63; </title>
<link>http://www.beansmart.com/taxes/realized-loss-tax-reporting-34802-.htm</link>
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<description><![CDATA[ I just recently sold two Funds that I have held for awhile and realized a &#36;10400 loss. Some folks tell me that I cannot claim all this in the 2012 Tax Year and will &#45;&#45; ... The post has 6 replies so far. Read more and <a href="http://www.beansmart.com/taxes/realized-loss-tax-reporting-34802-.htm">discuss here</a> ]]></description>
<pubDate>Mon, 20 Feb 2012 18:09:11 -0500</pubDate>
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<title>Refinance Mortgage Expense Deduction&#63; </title>
<link>http://www.beansmart.com/taxes/refinance-mortgage-expense-deduction-34796-.htm</link>
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<description><![CDATA[ I&apos;m in the process of refinancing my home mortgage and was wondering if the Home APPRAISAL costs are tax deductible&#63;  If so, how and where would it be applied to the Tax Form. Thanks for any insights...... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/refinance-mortgage-expense-deduction-34796-.htm">discuss here</a> ]]></description>
<pubDate>Mon, 20 Feb 2012 15:03:18 -0500</pubDate>
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<title>definition of tax in IRC 6662 </title>
<link>http://www.beansmart.com/taxes/definition-of-tax-in-irc-6662-34795-.htm</link>
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<description><![CDATA[ Suppose you forget to report a W&#45;2, 1099&#45;MISC, 1099&#45;R, etc that has federal tax withheld.  The IRS imposes the IRC 6662 penalty. BEGIN QUOTE &#40;a&#41; Imposition of penalty If this section applies to any p...The post does not have replies yet. <a href="http://www.beansmart.com/taxes/definition-of-tax-in-irc-6662-34795-.htm">Start the discussion here</a> ]]></description>
<pubDate>Mon, 20 Feb 2012 12:49:06 -0500</pubDate>
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<item>
<title>rental income tax reporting </title>
<link>http://www.beansmart.com/taxes/rental-income-tax-reporting-34794-.htm</link>
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<description><![CDATA[ I am a bit confused by various IRS instructions and advice I got. Hopefully I can get a bit more information&#47;clarity here  ... To simplify, let&apos;s say I own 2 rental properties through a LLC &#40;disregar...... The post has 22 replies so far. Read more and <a href="http://www.beansmart.com/taxes/rental-income-tax-reporting-34794-.htm">discuss here</a> ]]></description>
<pubDate>Mon, 20 Feb 2012 12:32:31 -0500</pubDate>
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<title>educational testing </title>
<link>http://www.beansmart.com/taxes/educational-testing-34789-.htm</link>
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<description><![CDATA[ college freshman with educational difficulties had the following expenses&#58; NeurPsychological tests &#36;2400 Medical and educational consultants &#36;4500 Remedial education program paid to college 17,000 No...... The post has 1 replies so far. Read more and <a href="http://www.beansmart.com/taxes/educational-testing-34789-.htm">discuss here</a> ]]></description>
<pubDate>Mon, 20 Feb 2012 11:12:34 -0500</pubDate>
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<title>Business Property Depreciation Questions </title>
<link>http://www.beansmart.com/taxes/business-property-depreciation-questions-34779-.htm</link>
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<description><![CDATA[ I assume these are probably simple questions for someone who knows how but reading the instructions for depreciating business property in Publication 4562 is giving me a headache. QUESTION ONE&#58; CALCU...... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/business-property-depreciation-questions-34779-.htm">discuss here</a> ]]></description>
<pubDate>Sun, 19 Feb 2012 13:34:09 -0500</pubDate>
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<title>real property capital gain&#47;loss </title>
<link>http://www.beansmart.com/taxes/real-property-capital-gain-loss-34775-.htm</link>
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<description><![CDATA[ These may be simple enough, but I&apos;d to get some suggestions &#45; Assuming I sold my primary residence for &#36;100K LOSS and sold one rental property for &#36;100K PROFIT, am I correct that&#58; 1&#93; If these two tra...... The post has 8 replies so far. Read more and <a href="http://www.beansmart.com/taxes/real-property-capital-gain-loss-34775-.htm">discuss here</a> ]]></description>
<pubDate>Sun, 19 Feb 2012 13:09:04 -0500</pubDate>
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<title>Tax free interest </title>
<link>http://www.beansmart.com/taxes/tax-free-interest-34764-.htm</link>
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<description><![CDATA[ For the first time I have some tax free interest in 2011.  I see that there is a place to enter it on IRS Form 1040.  If I do not report it will I be penalized&#63; Is there some future advantage to repo...... The post has 4 replies so far. Read more and <a href="http://www.beansmart.com/taxes/tax-free-interest-34764-.htm">discuss here</a> ]]></description>
<pubDate>Sun, 19 Feb 2012 01:16:27 -0500</pubDate>
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<title>More on expensing vs. depreciating new roofs </title>
<link>http://www.beansmart.com/taxes/more-on-expensing-vs-depreciating-new-roofs-34757-.htm</link>
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<description><![CDATA[ Ran across this online.  Thought people might find it interesting in light of the discussion we just had here&#58;   http&#58;&#47;&#47;www.energytaxsavers.com&#47;articles&#47;Tax&#45;Aspects&#45;of&#45;Roof&#45;Replacement.pdf     Recent...... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/more-on-expensing-vs-depreciating-new-roofs-34757-.htm">discuss here</a> ]]></description>
<pubDate>Sat, 18 Feb 2012 21:49:40 -0500</pubDate>
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<title>Head of Household Qualifications </title>
<link>http://www.beansmart.com/taxes/head-of-household-qualifications-34742-.htm</link>
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<description><![CDATA[ I am a single working mom and have three children who are under 16 and in school who I properly claim as dependents.   I live with my Mother and Father in their home.   A tax preparer has told me I s...... The post has 4 replies so far. Read more and <a href="http://www.beansmart.com/taxes/head-of-household-qualifications-34742-.htm">discuss here</a> ]]></description>
<pubDate>Sat, 18 Feb 2012 12:41:32 -0500</pubDate>
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<title>Buying Debt for Pennies on Dollar in US and Canada </title>
<link>http://www.beansmart.com/taxes/buying-debt-for-pennies-on-dollar-in-us-and-canada-34739-.htm</link>
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<description><![CDATA[ Say a large public company has many bonds that mature from 2012 through 2020.   Because of financial problems they are able to buy back that debt for 50 cents on the dollar today. In US tax law, woul...... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/buying-debt-for-pennies-on-dollar-in-us-and-canada-34739-.htm">discuss here</a> ]]></description>
<pubDate>Sat, 18 Feb 2012 12:41:08 -0500</pubDate>
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<title>1098&#45;T Tuition, pushing Spring semester into that year </title>
<link>http://www.beansmart.com/taxes/1098-t-tuition-pushing-spring-semester-into-that-year-34733-.htm</link>
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<description><![CDATA[ In 2010,  my son attended two semesters of college &#45; Fall and Spring. For the sake of discussion, let&apos;s just say that each semester cost &#36;4000.  Publication 970 states that I can claim all expenses u...... The post has 1 replies so far. Read more and <a href="http://www.beansmart.com/taxes/1098-t-tuition-pushing-spring-semester-into-that-year-34733-.htm">discuss here</a> ]]></description>
<pubDate>Sat, 18 Feb 2012 12:36:58 -0500</pubDate>
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<title>substitute W&#45;4 </title>
<link>http://www.beansmart.com/taxes/substitute-w-4-34730-.htm</link>
<guid isPermaLink="true">http://www.beansmart.com/taxes/substitute-w-4-34730-.htm</guid>
<description><![CDATA[ Do you have to file paper return with Form 4852, substitute W&#45;2&#63; Proseries program says this form is not sent with e&#45;file, just the W&#45;2 filled out with the info.  Thanks &#45;&#45; ... The post has 1 replies so far. Read more and <a href="http://www.beansmart.com/taxes/substitute-w-4-34730-.htm">discuss here</a> ]]></description>
<pubDate>Sat, 18 Feb 2012 12:35:35 -0500</pubDate>
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<title>Group term policy payout taxable&#63; </title>
<link>http://www.beansmart.com/taxes/group-term-policy-payout-taxable-34726-.htm</link>
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<description><![CDATA[ One of the other counselors at the TaxAide site I volunteer at saw this.  &#40;It was a different day than I volunteer so I haven&apos;t seen the W&#45;2 in question&#41;&#58;      &#91;Taxpayer&#93; also got a large life insura...... The post has 3 replies so far. Read more and <a href="http://www.beansmart.com/taxes/group-term-policy-payout-taxable-34726-.htm">discuss here</a> ]]></description>
<pubDate>Sat, 18 Feb 2012 09:16:12 -0500</pubDate>
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<title>Bad Debts with Cash Accounting&#63; </title>
<link>http://www.beansmart.com/taxes/bad-debts-with-cash-accounting-34702-.htm</link>
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<description><![CDATA[ Is it legitimate to deduct a bad debts expense for unpaid client bills when your accounting is on a cash basis or is that only allowed when you are on an accrual basis and have already accounted for ...... The post has 4 replies so far. Read more and <a href="http://www.beansmart.com/taxes/bad-debts-with-cash-accounting-34702-.htm">discuss here</a> ]]></description>
<pubDate>Thu, 16 Feb 2012 13:29:34 -0500</pubDate>
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<title>Pros&#47;Cons of an S&#45;corp vs. LLC for a handyman&#47;repairs business </title>
<link>http://www.beansmart.com/taxes/pros-cons-of-an-s-corp-vs-llc-for-a-handyman-repairs-busine-34701-.htm</link>
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<description><![CDATA[ For someone who wants to create an entity for their handyman&#47;home&#45;repairs  business, what are some of the pros and cons of setting it up as an S&#45;corp  vs. an LLC&#63; I know, of course, that one should t...... The post has 13 replies so far. Read more and <a href="http://www.beansmart.com/taxes/pros-cons-of-an-s-corp-vs-llc-for-a-handyman-repairs-busine-34701-.htm">discuss here</a> ]]></description>
<pubDate>Thu, 16 Feb 2012 13:26:02 -0500</pubDate>
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<title>margin interest deduction&#63; </title>
<link>http://www.beansmart.com/taxes/margin-interest-deduction-34671-.htm</link>
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<description><![CDATA[ If I do not itemize &#40;and I am not an investment pro&#41;, is there any way  to deduct margin interest paid&#63; Mel &#45;&#45; ... The post has 16 replies so far. Read more and <a href="http://www.beansmart.com/taxes/margin-interest-deduction-34671-.htm">discuss here</a> ]]></description>
<pubDate>Wed, 15 Feb 2012 14:26:30 -0500</pubDate>
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<title>nonprofit starts a for&#45;profit &#45;&#45; a tax question </title>
<link>http://www.beansmart.com/taxes/nonprofit-starts-a-for-profit-a-tax-question-34672-.htm</link>
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<description><![CDATA[ Our tax exempt 501&#40;c&#41;3 nonprofit corporation was to start a for&#45;profit  enterprise.  Our plan is to form a separate for&#45;profit corporation or LLC  where the nonprofit owns all of the shares of the fo...... The post has 13 replies so far. Read more and <a href="http://www.beansmart.com/taxes/nonprofit-starts-a-for-profit-a-tax-question-34672-.htm">discuss here</a> ]]></description>
<pubDate>Wed, 15 Feb 2012 14:26:12 -0500</pubDate>
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<title>Legality of doing gratis returns for family or friends&#63; </title>
<link>http://www.beansmart.com/taxes/legality-of-doing-gratis-returns-for-family-or-friends-34668-.htm</link>
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<description><![CDATA[ Now that the new Registered Preparer regime is in effect, what&apos;s the legal status of a non&#45;registered person doing a return for relatives or friends as long as any returns are done for no compensatio...... The post has 12 replies so far. Read more and <a href="http://www.beansmart.com/taxes/legality-of-doing-gratis-returns-for-family-or-friends-34668-.htm">discuss here</a> ]]></description>
<pubDate>Wed, 15 Feb 2012 13:51:49 -0500</pubDate>
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<title>Form I&#45;9 required for subcontractors&#63; </title>
<link>http://www.beansmart.com/taxes/form-i-9-required-for-subcontractors-34662-.htm</link>
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<description><![CDATA[ I was about to send a Form I&#45;9 to a client for him to give to subcontractors, but noticed that the instructions defines employer as including those recruiters and referrers for a fee who are agricult...The post does not have replies yet. <a href="http://www.beansmart.com/taxes/form-i-9-required-for-subcontractors-34662-.htm">Start the discussion here</a> ]]></description>
<pubDate>Tue, 14 Feb 2012 13:30:23 -0500</pubDate>
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<title>1099&#45;DIV Line 6; Foreign tax paid </title>
<link>http://www.beansmart.com/taxes/1099-div-line-6-foreign-tax-paid-34653-.htm</link>
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<description><![CDATA[ I have a mutual fund for which Line 1a, Total ordinary dividend, is the  sum of actual dividends paid and the Foreign tax paid on Line 6. What is  the rationale for adding those items together&#63; Is it...... The post has 3 replies so far. Read more and <a href="http://www.beansmart.com/taxes/1099-div-line-6-foreign-tax-paid-34653-.htm">discuss here</a> ]]></description>
<pubDate>Mon, 13 Feb 2012 21:52:48 -0500</pubDate>
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<title>Insurance repair on rental property </title>
<link>http://www.beansmart.com/taxes/insurance-repair-on-rental-property-34652-.htm</link>
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<description><![CDATA[ Hi, I received an insurance claim for hail damage on my rental property. I paid the whole amount to a contractor who performed the items in the claim &#45; new roof, new siding on 3 sides, new gutters. T...... The post has 17 replies so far. Read more and <a href="http://www.beansmart.com/taxes/insurance-repair-on-rental-property-34652-.htm">discuss here</a> ]]></description>
<pubDate>Mon, 13 Feb 2012 21:52:13 -0500</pubDate>
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<item>
<title>Section 481 adjustment and related company </title>
<link>http://www.beansmart.com/taxes/section-481-adjustment-and-related-company-34649-.htm</link>
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<description><![CDATA[ Client C corporation B is related both to an investor C corporation A and a new operating C corporation D. A and B have been on a cash basis of accounting as between them, and we don&apos;t anticipate thi...The post does not have replies yet. <a href="http://www.beansmart.com/taxes/section-481-adjustment-and-related-company-34649-.htm">Start the discussion here</a> ]]></description>
<pubDate>Mon, 13 Feb 2012 19:33:37 -0500</pubDate>
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<item>
<title>Medicare Part B premiums for self&#45;employed persons </title>
<link>http://www.beansmart.com/taxes/medicare-part-b-premiums-for-self-employed-persons-34642-.htm</link>
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<description><![CDATA[ My wife &#40;who turned 65 last year&#41; is a self&#45;employed person who had a net profit in 2011.  She also had a part&#45;time job that paid her W&#45;2 wages but which does not offer health&#45;care coverage to part&#45;t...... The post has 18 replies so far. Read more and <a href="http://www.beansmart.com/taxes/medicare-part-b-premiums-for-self-employed-persons-34642-.htm">discuss here</a> ]]></description>
<pubDate>Sun, 12 Feb 2012 22:45:28 -0500</pubDate>
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<item>
<title>Non Resident Non Citizen Capital Gains from Limited Partnership </title>
<link>http://www.beansmart.com/taxes/non-resident-non-citizen-capital-gains-from-limited-partners-34637-.htm</link>
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<description><![CDATA[ If a non resident and non citizen &#40;NRNC&#41; trades securities in a registered broker dealer account, they pay withholding taxes on dividends, but they do not pay US tax on capital gains.    If the NRNC ...The post does not have replies yet. <a href="http://www.beansmart.com/taxes/non-resident-non-citizen-capital-gains-from-limited-partners-34637-.htm">Start the discussion here</a> ]]></description>
<pubDate>Sun, 12 Feb 2012 05:02:01 -0500</pubDate>
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<item>
<title>Newly divorced in NY, how do I file 2011 taxes&#63; </title>
<link>http://www.beansmart.com/taxes/newly-divorced-in-ny-how-do-i-file-2011-taxes-34628-.htm</link>
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<description><![CDATA[ Hello. I am divorced for 2011 in NYS. Ex&#45;wife moved out of house and I get to live in house and try to sell it, no easy feat.  My two kids, 23 and 20, still live with me at the house.  In 2011 my 20 ...... The post has 4 replies so far. Read more and <a href="http://www.beansmart.com/taxes/newly-divorced-in-ny-how-do-i-file-2011-taxes-34628-.htm">discuss here</a> ]]></description>
<pubDate>Sat, 11 Feb 2012 10:20:46 -0500</pubDate>
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<item>
<title>Hud settlement &#45; points </title>
<link>http://www.beansmart.com/taxes/hud-settlement-points-34612-.htm</link>
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<description><![CDATA[ Settlement sheet  #801 has Origination charge &#40;including origination points &#36;0&#41; of &#36;866.95 on loan of &#36;149900. No points on 1098.  We often see origination charges here that we deduct as points paid ...... The post has 1 replies so far. Read more and <a href="http://www.beansmart.com/taxes/hud-settlement-points-34612-.htm">discuss here</a> ]]></description>
<pubDate>Fri, 10 Feb 2012 11:55:34 -0500</pubDate>
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<item>
<title>982 Discharge of debt. </title>
<link>http://www.beansmart.com/taxes/982-discharge-of-debt-34606-.htm</link>
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<description><![CDATA[ 982 Discharge of debt. A party has &#36;50,000 in capital losses on prior years tax returns. Party files 982 Discharge of debt. Does this effect his capital losses. &#45;&#45; ... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/982-discharge-of-debt-34606-.htm">discuss here</a> ]]></description>
<pubDate>Thu, 09 Feb 2012 21:39:29 -0500</pubDate>
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<item>
<title>1099C cancellation of debt </title>
<link>http://www.beansmart.com/taxes/1099c-cancellation-of-debt-34605-.htm</link>
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<description><![CDATA[ A party received a total of &#36;32,000 of 1099C cancellation of debt statements from various credit card companies.  All charges were for items of personal consumption over a period of 3 years. The part...... The post has 8 replies so far. Read more and <a href="http://www.beansmart.com/taxes/1099c-cancellation-of-debt-34605-.htm">discuss here</a> ]]></description>
<pubDate>Thu, 09 Feb 2012 21:20:48 -0500</pubDate>
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<item>
<title>30 Yr old dependent </title>
<link>http://www.beansmart.com/taxes/30-yr-old-dependent-34595-.htm</link>
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<description><![CDATA[ Single parent has 30 year old child living at home.  Child made no income and was a college student. Appears that &#58; &#45; child qualifies as dependent &#45; qualifying relative &#45; Parent qualifies as HOH &#45; Pa...... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/30-yr-old-dependent-34595-.htm">discuss here</a> ]]></description>
<pubDate>Thu, 09 Feb 2012 17:46:40 -0500</pubDate>
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<item>
<title>Form 1116 Line 3b </title>
<link>http://www.beansmart.com/taxes/form-1116-line-3b-34594-.htm</link>
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<description><![CDATA[ Hope I&apos;m not driving anyone mad with my slogging through this form... but I am learning a lot. Line 3b of Form 1116 pertains to Deductions that do not relate to any specific type of income.  Type of ...The post does not have replies yet. <a href="http://www.beansmart.com/taxes/form-1116-line-3b-34594-.htm">Start the discussion here</a> ]]></description>
<pubDate>Thu, 09 Feb 2012 14:34:00 -0500</pubDate>
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<item>
<title>Rollover IRA for nonresident </title>
<link>http://www.beansmart.com/taxes/rollover-ira-for-nonresident-34591-.htm</link>
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<description><![CDATA[ I have a friend who is a US citizen living in the UK.  She has an IRA left over from before she moved to the UK, and the current custodian has told her they won&apos;t handle it any more because they don&apos;...... The post has 9 replies so far. Read more and <a href="http://www.beansmart.com/taxes/rollover-ira-for-nonresident-34591-.htm">discuss here</a> ]]></description>
<pubDate>Thu, 09 Feb 2012 11:23:56 -0500</pubDate>
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<item>
<title>divided mortgage interest deduction </title>
<link>http://www.beansmart.com/taxes/divided-mortgage-interest-deduction-34588-.htm</link>
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<description><![CDATA[ Hi All, I recently learned that my mother in law is having tax issues. I have her convinced to see a professional but it&apos;s going to take a few weeks &#40;she&apos;s visiting on vacation&#41;. She lives in her own...... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/divided-mortgage-interest-deduction-34588-.htm">discuss here</a> ]]></description>
<pubDate>Thu, 09 Feb 2012 10:12:32 -0500</pubDate>
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<item>
<title>California sales tax </title>
<link>http://www.beansmart.com/taxes/california-sales-tax-34583-.htm</link>
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<description><![CDATA[ I live in Minnesota.  Last week, I purchased some items &#40;DVDs, digital downloads, and admission to a seminar&#41; from someone in California. The seminar will take place in California. Payment was made w...... The post has 9 replies so far. Read more and <a href="http://www.beansmart.com/taxes/california-sales-tax-34583-.htm">discuss here</a> ]]></description>
<pubDate>Wed, 08 Feb 2012 15:36:03 -0500</pubDate>
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<item>
<title>ROTH CONVERSION </title>
<link>http://www.beansmart.com/taxes/roth-conversion-34580-.htm</link>
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<description><![CDATA[ I took advantage of the offer to convert from a Trad. IRA to a ROTH IRA in 2010.  I can claim 1&#47;2 of the amount for TYrs 2011 and the other half in 2012 .  I would like to claim the entire amount in ...... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/roth-conversion-34580-.htm">discuss here</a> ]]></description>
<pubDate>Wed, 08 Feb 2012 12:08:03 -0500</pubDate>
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<item>
<title>Schedule C and form 1099&#45;K </title>
<link>http://www.beansmart.com/taxes/schedule-c-and-form-1099-k-34574-.htm</link>
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<description><![CDATA[ We have a small business providing administrative support to clubs putting  on dog shows. This involves among other things collecting entry fees. Most  of the fees are sent by mail with checks made o...... The post has 2 replies so far. Read more and <a href="http://www.beansmart.com/taxes/schedule-c-and-form-1099-k-34574-.htm">discuss here</a> ]]></description>
<pubDate>Tue, 07 Feb 2012 13:49:39 -0500</pubDate>
</item>
<item>
<title>Estate Administrator Fee&#47;Income </title>
<link>http://www.beansmart.com/taxes/estate-administrator-fee-income-34573-.htm</link>
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<description><![CDATA[ Question&#58; I received a one&#45;time fee for administering my deceased father&apos;s estate. All the info I have found clearly says this is reported on 1040 Line 21 as Other Income. However, I also have some o...... The post has 6 replies so far. Read more and <a href="http://www.beansmart.com/taxes/estate-administrator-fee-income-34573-.htm">discuss here</a> ]]></description>
<pubDate>Tue, 07 Feb 2012 13:49:15 -0500</pubDate>
</item>
<item>
<title>Value of Frequent Flier Miles </title>
<link>http://www.beansmart.com/taxes/value-of-frequent-flier-miles-34558-.htm</link>
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<description><![CDATA[ There&apos;s a raging controversy over this, as Citibank gave American Airlines miles as a promotion for opening new accounts, then sent customers 1099&apos;s valuing the miles at 2.5 cents per mile. Assuming ...... The post has 10 replies so far. Read more and <a href="http://www.beansmart.com/taxes/value-of-frequent-flier-miles-34558-.htm">discuss here</a> ]]></description>
<pubDate>Mon, 06 Feb 2012 12:02:33 -0500</pubDate>
</item>
<item>
<title>rental cash out refinance </title>
<link>http://www.beansmart.com/taxes/rental-cash-out-refinance-34552-.htm</link>
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<description><![CDATA[ I have single owner LLC &#40;disregarded entity&#41; that deals in rental properties. My LLC  paid cash for a rental property  &#40;property A&#41; acquired in 2009. In 2011, I pulled cash out of this property by fi...... The post has 4 replies so far. Read more and <a href="http://www.beansmart.com/taxes/rental-cash-out-refinance-34552-.htm">discuss here</a> ]]></description>
<pubDate>Sun, 05 Feb 2012 03:22:41 -0500</pubDate>
</item>
<item>
<title>Late Estimated taxes for last three quarters </title>
<link>http://www.beansmart.com/taxes/late-estimated-taxes-for-last-three-quarters-34551-.htm</link>
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<description><![CDATA[ I forgot to pay last three quarters of estimated taxes amounting to &#36;6000.  What will be neater to send IRS  last three coupons along with  &#36;2000 each or just send IRS the last coupons with a &#36;6000 c...... The post has 3 replies so far. Read more and <a href="http://www.beansmart.com/taxes/late-estimated-taxes-for-last-three-quarters-34551-.htm">discuss here</a> ]]></description>
<pubDate>Sun, 05 Feb 2012 03:21:24 -0500</pubDate>
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