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The most recent discussions

Deducting Dependent's Habitat for Humanity Expenses


April 27, 2016, 4:25 pm

Our 33 year old unmarried daughter resigned her job two years ago to go back to school and get a graduate degree. We have been paying one hundred percent of her rent, food, auto and other living ... Read more »

After tax funds in 403B account; is income after tax also?


April 25, 2016, 4:23 pm

My wife has $90,000 in a TIAA 403B account. The statement says $60,000 is before tax and $30,000 is after tax. (we don't know how it got to be after tax, but that is neither here nor there) I spoke... Read more »

Amemding 2013 - Time Limit? More...


April 22, 2016, 5:13 am

More research on this subject makes me believe that the IRS gives you only two years to amend if you originally paid a tax but are now asking for some of it back, but three years if you are askin... Read more »

Amemding 2013 - Time Limit?


April 21, 2016, 11:19 pm

I've read the instructions regarding time limit to amend a return, but I'm still a little confused. It seems it depends on if you are claiming a refund, but the instructions don't say if you are... Read more »

Correction to old form 8606


April 20, 2016, 12:39 pm

As I'm approaching retirement, I've been pulling together all my records and consulting a fee-based financial advisor. I found a problem in my form 8606 for tax year 1988. I paid $2000 into a SE... Read more »

Prior Year depreciation....but never reported any.


April 18, 2016, 3:48 pm

So, I decided to start a new thread. I posted this in my depreciation thread, but it may have gotten lost in the string. Thanks again to all for helping me in my rental condo depreciation. Now t... Read more »

Your 2015 depreciation deduction for your condo is $0


April 17, 2016, 7:25 pm

Greetings all, I know it is the day before taxes are due, but I have been reading and searching for an answer to my problem for about a week. I just cannot find one. Our problem focuses on Depreci... Read more »

Divorce for tax reasons


April 17, 2016, 4:28 am

We are considering getting divorced for tax reasons. We live in Washington, a community property state. We filed married filing separately to be able to keep one party's income based repayments on t... Read more »

Form 4868 extension -- okay with wrong numbers?


April 15, 2016, 10:39 pm

When filing a Form 4868 automatic extension request, does matter of the wrong amounts are entered on lines 4 and 5 (estimate of total tax liability; and, total payments made) -- as long as in the... Read more »

Turbo Tax E-file Rejected -- R0000-504-02


April 13, 2016, 9:29 pm

The e-filing of turbo tax was rejected by IRS because dependent's name does not match what IRS has on its records. Because IRS checks the SSA database for names, we will have to get with SSA to get... Read more »

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The best rated discussions

Front foot fee rating: 5

Normally in Maryland Property tax charged by county consists of Front foot fee in addition to normal property taxes. These are tax deductible as it comes as part of 1099 issued by Mortgage company. T... Read more »

Athletic Scholarships rating: 5

My nephew received 100% athletic scholarship for 2010. No out of pocket expenses except for minor things. Anyway, each time I search I come up with the room and board part is taxable to my nephew, ... Read more »

Taxation of Municipal Bonds rating: 5

I find this topic to be very confusing and I get lost quickly in the jargon. Is there a web site with a calculator that lets you enter all the relevant information so that you can determine the cost ... Read more »

Can I deduct deferred mortgage interest? rating: 5

Since may of 2005 I have had a minimum payment mortgage on my house. I have incurred, this year alone, $3700 in deferred interest which was added to the principal of my loan each month. I was wonde... Read more »

Question re: bad handling of 401k rating: 5

I've done some bad planning on my 401k. I am changing jobs and contributing $6000 was enough to get maximum employer match ($3000) from my current employer, but I contributed $15,000, close to the ca... Read more »

Limit on years for cap loss carryover? rating: 5

Is there any limit to the number of future years to which we can apply capital loss carryover? I would think not. But it doesn't hurt to ask. (Hah!) Like so many people, I imagine, 2008 was a banne... Read more »

1099 But No Income rating: 5

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Consider the following (entirely realistic) scenario: 1) You create an account with Amazon Payments, enabling you to send money. 2) You send your wife/girlfriend/friend/dog $1000, paid from your cred... Read more »

Becoming an EA with DUI conviction. rating: 5

I'm wondering if anyone knows if I would be eligible to become an EA with a DUI conviction from 1993 that resulted in a fine in excess of $500. Question 9 on Form 23 asks if you have been convicted ... Read more »

Trust termination with capital loss and charitable remaindermen rating: 5

A trust was terminated in 2010 when the primary beneficiary died and assets were distributed to the remaindermen including several charities. There is no DNI but a large capital loss with selling th... Read more »

Can a non-owner deduct real estate taxes? rating: 5

If, for example, my lease calls for me to pay $100 a month (to the owner) and pay all the real estate taxes directly to the town, can I deduct them? (thw owner niehter pays them, nor deducts them) ... Read more »

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