Taxes General Forum - Main Page

Do you have a question? Post it now! No Registration Necessary

Taxes General Forum Tax professionals meeting place and answers to queries. (Moderated). This forums is a Web, RSS and Social Media interface to misc.taxes.moderated.
There are 41318 articles in 8360 discussions. See the most recent and the best rated articles in Taxes General Forum below

The most recent discussions

Sale of home not reported


July 24, 2014, 12:27 pm

I sold my home in 2012 had a gain of 400K. Turbo tax asked me if I had 1099S form which was not issues to us by title company. But seems it was sent by them to IRS, now IRS sent us a letter on this. ... Read more »

WY LLC non-US person non-US resident no US operations/income


July 23, 2014, 11:14 am

Hi, I have a couple of questions on my situation: * Sole member of a WY LLC * Non-US person * Non-US resident * No US operations, income, office or any assets * Country where business activity i... Read more »

401(k) IRA rollover


July 22, 2014, 10:40 am

I have problems keeping the various tax-free and tax-deferred options straight. I have a 401(k) that is relatively small and I think I can do better managing it on my own. Which flavor (if either... Read more »

IRS Regulations section 1.401(a)(9)-6


July 22, 2014, 9:59 am

If you are interested in IRA annuities rules, every document on the IRS web directs you to Regulations section 1.401(a)(9)-6 So you paste Regulations section 1.401(a)(9)-6 into the search window a... Read more »

stepup home value


July 21, 2014, 11:08 pm

Husband buys cottage, dies and leaves to wife, wife remarries and dies after 23 yrs, leaves cottage to hubby. Is there a step up value from original purchase so if husband gives cottage to his kids ... Read more »

taxes on trust distribution


July 19, 2014, 9:47 pm

I will soon receive a significant amount from a Crummey Trust. The trustee says I have a choice of taking the securities or having them cashed in and taking the cash. She says I will have to pay in... Read more »

Nominee income for estate


July 18, 2014, 8:31 pm

My wife and I managed finances for my Father-in-law. To get better income, she opened an account at an institution under the umbrella of a mutual insurance association. Because my F-I-L was not... Read more »

Second business


July 18, 2014, 4:33 pm

I am business owner (sole trader) and vat registered. I am in discussions with a business partner to open a second company as partners, although he is not vat registered (doesn't need to be at the mi... Read more »

Capital Gain on sale of house by estate


July 18, 2014, 1:25 pm

My mother passed away last month and my siblings and I are planning to sell her house. We had it appraised (as is) and let's say it appraised for $500,000. Its current condition probably requires t... Read more »

RMD Requirement for Annuities


July 18, 2014, 3:49 am

Someone mentioned to me the notion that somehow (Tax court, perhaps, but I was unable to find an opinion on the subject) the RMD requirement has been waived for annuities. Has anyone heard anyth... Read more »

Click here for other recent discussions »

The best rated discussions

rating
5

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 »

rating
5

CCH Tax News Headlines - November 10, 2010


CCH Tax News Headlines - November 10, 2010 Federal Headlines: 11/10/2010 - _Lawmakers Pledge 2010 AMT Relief _ (http://tax.cchgroup.com/downloads/files/news-headlines/2010/nws111010.htm#1)... Read more »

rating
5

appealing refund statute of limitations


After a long period of recovery I finally submitted my overdue returns in January. Eight years worth! In each of those 8 years I was overpaid between withheld and estimated taxes paid in. Plus I ha... Read more »

rating
5

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% vest... Read more »

rating
5

Ohio Source Income


We had a TCE client yesterday who is a MD resident and the sole beneficiary of a testamentary trust managed in Ohio. The income is all from interest and annuities and is all paid out to the benefici... Read more »

rating
5

I want to report my former boos for tax evasion/fraud as I did all of his b...


file IRS Form 3949 A to report my former bossfor tax evasion/fraud. I did all of his bookkeeping, billing, banking, etc. He had me make large bank deposits with Comcheks from thousands of dollars he... Read more »

rating
5

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 »

rating
5

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 »

rating
5

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 »

rating
5

Tax implications - Converting a rental house into a primary residence.


Need input on tax implications for converting rental house into primary residence. Facts Example: Owner has owned rental house since Nov 1999 and since then has rented the house until January 1, 20... Read more »