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There are 43047 articles in 8674 discussions. See the most recent and the best rated articles in Taxes General Forum below

The most recent discussions

Market Discount Accretion for bonds bought at market discount


August 31, 2015, 6:30 pm

Market discount accretion generally requires reporting a portion of the market discount annually as additional interest and increase the basis by the same amount. I the bond defaults or stops paying... Read more »

Mortgage/Loan Interest Deduction for limited partners


August 31, 2015, 6:03 pm

I remember (long time ago) that for an investment property purchased by a Limited Partnership, mortgage/loan interest is not deductible by the Limited Partners -- if someone guaranties the mortgage/l... Read more »

Question about IRA account, and K-1 not related to MLP


August 30, 2015, 2:02 pm

Hi, I am interested in purchasing UGA which is a gasoline futures ETF in my IRA. It does file a K-1 as opposed to a 1099. Any tax implications I need to worry about? My understanding is the m... Read more »

Save money by getting into a lower tax bracket?


August 29, 2015, 5:36 pm

All my life I've heard that one could save money by getting into a lower tax bracket? Here's an old example, from Wikip, from the 1930's: Benny Thau was trusted by the stars. For example, Greta G... Read more »

Qualified Plug-in Electric Drive Motor Vehicle Credit credit concern


August 27, 2015, 9:31 pm

In order to claim credit on Qualified Plug-in Electric Drive Motor Vehicle Credit you need to be the owner of the vehicle. What if the vehicle was purchased by a shareholder of a s corp, can the s ... Read more »

Personal expenses on business work


August 27, 2015, 4:19 pm

How do we classify the expense and payback? Also, the check was deposited in June and our FY ended in July, so does that influence our options. I don't think we should draw down owner's equity, bec... Read more »

I'll owe taxes in April for tax year 2015, should I send in payments now?


August 25, 2015, 1:02 am

Based on past experience, I know I'll owe a good chunk in taxes when I do my 2015 return. Is there any reason I should be looking to make a payment now vs just waiting till April? My withholdings f... Read more »

Short Term Capital Losses


August 21, 2015, 2:19 pm

Hello, I seem to recall that short term capital losses on mutual funds sold can be use to offset shot term gains, and if there are any remaining short term losses, that they can be use to offset L... Read more »

minimum salary for my wife to max out simple ira contribution.


August 20, 2015, 3:51 pm

Hello everyone I own a small business and was thinking about paying my wife a small salary so she can contribute simple ira to her retirement account. I am thinking a salary of $13550 that will all... Read more »

Basis in IRA RMDs?


August 19, 2015, 9:46 pm

I have done some searching without much luck, but my question is what are the rules for which RMDs are deductible and which are not when there is a basis in the IRA, e.g., post tax contribution... Read more »

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The best rated discussions

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Schedule M


Did we get $250 / $500 checks last year and I just forgot about it? Or perhaps a direct deposit? Or was there just a cumulative (small) reduction in payroll taxes? I honestly don't know if I'm ... Read more »

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How to Claim Capital Loss from Debtor Chapter 11 Bankruptcy


I invested XYZ company's note. On 1/21/05 XYZ company filed chapter 11 bankruptcy, it converted to chapter 7 bankruptcy on 5/17/05. Since then I have not receive any capital loss statement except a n... Read more »

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Re: 1099-B Restricted Stock Options sale...Do I need to file a Schedule D?...


dorlockt@hotmail.com writes: No, that doesn't really change anything. In fact, it makes it even more straightforward. Did you file a Section 83(b) election on these shares to treat them as 100% ... Read more »

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1099 But No Income

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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 »

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Giving money to a trust fund


I'm concerned about my three grandchildren's education so I want to set up a trust fund to cover that. I want to fund it on occasion when I have excess cash that I know my wife will not need. When ... Read more »

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Capital Gain / Depreciation Recapture Question


Hi, Suppose I have a Capital Gain Tax loss of $11,000 and I have a Depreciation Recapture Tax of $36,000 for the year I sell an Investment Property. Is the combined tax liability for this year $36,00... Read more »

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Fillable 1099-MISC forms?


This IRS page claims that with the correct version of Adobe Reader, I should be able to fill in certain forms: http://www.irs.gov/formspubs/article/0,,id=98121,00.html Either they're lying, or the 1... Read more »

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IRA Benficiaries Question


I have a regular IRA and my wife and I both have smaller ROTH IRAs. We have a joint living Trust with each other as beneficiaries with the Trust as the contingency benficiary. Would there be any tax... Read more »

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Two W2 forms


I have Two W2 forms for year 2006.To calculate TAX is it a simple maths like ADD both the Gross and ADD both the Federal withholding ,to calculate TAX or there is other way. thnx jas Read more »

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Questions about Form 5471


------------------------------------- Hi! I have a question about Form 5471. Back in 2004, along with my mom, dad, sister, and brother, we all bought stocks in foreign company. Each owning about 6% o... Read more »