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The most recent discussions

Is a simpler and fairer tax code achievable?

  [ 2 ]
May 19, 2016, 4:07 am

I once met a woman who worked for a tax firm in Texas that specialized in servicing billionaires. They had experts on every conceivable tax problem - moving a business off shore, tax laws in man... Read more »

Re: 401k cash distribution penalty and capital losses offset?

May 16, 2016, 8:44 pm

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Partnership K-1 losses and gains

  [ 2 ]
May 13, 2016, 8:20 pm

I'm looking for some advice on a method of dealing with a K-1 partnership reported tax loss. Right now, I have a K-1 showing a substantial passive loss that I cannot deduct from my taxes because... Read more »

Re: No Information after at least 3 weeks of having electronically filed

May 13, 2016, 7:29 pm

I had my taxes electronically filed at least 3 weeks ago by somebody; and, every time I call the IRS I can't get any live person and with the last call after trying to order a transcript of my 2015 t... Read more »

California Non-resident Income Tax Deductions

May 10, 2016, 6:30 pm

I am the owner, sole share holder and sole employee of a technology consulting company. The company a personal services corporation and a C Corporation. We are based in New York, though we have cli... Read more »

Advice on buying Grandpa's house

May 8, 2016, 1:01 am

Advice needed My grandparent is 84 and wants to sell his house worth $400,000 to me for what he still owes on the loan amount of $150,000. He just wants to to live out his years in the house rent f... Read more »

Data available from the IRS

May 7, 2016, 4:28 pm

This may be the wrong forum for this, but just curious what kind of data the IRS makes available to people. I guess I could just call them. But I'm most interested in raw data. Do you happen to know ... Read more »

Will my son be a dependent and/or have to pay kiddie tax?

May 4, 2016, 3:55 pm

My son will graduate from college this month (so he will have been a full time student for 4.8 months in 2016) and be 23 in December. Every year he has to pay a few thousand in kiddie tax. If you f... Read more »

employer provides computer for IC

May 1, 2016, 3:04 pm

A person works as an employee for a software company. He eventually takes a different job closer to his home. Upon leaving the first job, the employer 'gifts' him a laptop computer plus the softwar... Read more »

1031 exchange question

May 1, 2016, 5:24 am

Does anyone have any experience with reverse 1031 exchanges? It appears to involve giving title of the entire replacement property to someone else to hold for upto 180 days. How safe is this? Ho... Read more »

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The best rated discussions

Medical Board Certification - are fees deductible? rating: 5

My kids have to take National and State boards for medical licence. Each costs about 2300.00 Since they also work part time am wondering if the fees are deductible against income? If so, what is tha... Read more »

Compensation for being a Resident Advisor taxable? rating: 5

My son is going to be a Resident Advisor at college next term. He gets free room and board. It worth about $7,500. Does he pay income tax on it? If so, does he have to pay MA tax as a NY resident... Read more »

Qualified Charitable Distribution from IRA rating: 5

Has anyone seen any details on how the mechanics of the QCD will work? The only thing I've seen is that the gross amount goes on 15a, the taxable (if any) on 15b, and QCD on the dotted line. Nothing ... Read more »

Appeal tax penalty and interest? rating: 5

I recently received notification from the IRS that we owe tax on unreported interest from inherited, redeemed HH bonds. We never received a 1099 INT and we were not aware of the taxable interest. W... Read more »

I want to report my former boos for tax evasion/fraud as I did all of his b... rating: 5

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 »

How does one make the 65-day election w/ respect to distributions from com... rating: 5

How does one make the 65-day election w/ respect to distributions from complex trust? TIA -- Read more »

Which version of TurboTax should I use? rating: 5

I was looking at the application chart at Office Depot this afternoon. It seemed to indicate that I would not be able to use the $60 version, I would have to upgrade to the $90 version because I have... Read more »

Put Education Expenses Where? rating: 5

Publication 970 clearly states that I can deduct education expenses as part of being self-employed. Does this cost go on Schedule C as a business expense or Schedule A as a deduction? Thanks Read more »

How to deal With W-2 and 1099 with Incorrect EIN rating: 5

The treasurer of a small Not-for-Profit I am associated with issued a few W-2 and 1099's with an incorrect EIN for the organization. The treasurer corrected the error today and will file the correc... Read more »

1099-B Restricted Stock Options sale...Do I need to file a Schedule D? rating: 5

I'm a bit unclear if I need to file a Schedule D for proceeds from a sale I made in 2007 of Restricted Stock Options from the company that I work for. I've received a 1099-B form in a consolidated... Read more » is a site by and for consumers of financial services and advice. We are not affiliated with any of the banks, financial services or software manufacturers discussed here. All logos and trade names are the property of their respective owners.

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