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The most recent discussions

Maryland "Limited Divorce"


September 16, 2014, 5:34 pm

Maryland does not have a status of Legally Separated. However they have a status called Limited Divorce which is essentially the same thing. Limited divorce does not confer the right to remarry, th... Read more »

Anything to be done with money leftover in a 529?


September 13, 2014, 3:15 pm

The unexpected upsurge in stock prices looks to be leaving me a surplus in a 529. Is there any way to access it other than paying a 10% penalty or saving it for grandchildren? -- Read more »

Are legal fees on trust funds received tax deductible?


September 13, 2014, 3:14 pm

I am about to receive funds from a pretty big trust. The funds are about half capital gains, and I am responsible for paying the associated tax when I get it. There are some relatively small legal ... Read more »

a new tax record keeping nightmare on the horizon?


September 12, 2014, 6:52 pm

Cap value of tax exclusion for retirement benefits The value of itemized tax deductions and employee contributions to retirement plans and IRAs would be capped at 28% for taxpayers in higher tax ... Read more »

Pension Decison


September 11, 2014, 2:30 pm

I have ~ 2 months, to decide if I will take a lump sum or monthly pension distribution (for a pension that I had forgot about, from work prior to 1988). I will soon be age 65. I have no need for th... Read more »

Electric co-op "capital credits"


September 10, 2014, 1:11 pm

I just received a Notice of Capital Credits Allocation from the cooperative electrical utility for one of my rental properties. It seems that these credits will accumulate in my account, based on ... Read more »

Midyear marriage, previous inputed income and premiusm for employer provide...


September 9, 2014, 5:35 pm

Please help by clarifying the rules for this scenario: A&B are married in Aug 31, 2014, before this (for 8 months) B received health insurance through A's employer as a domestic partner. After the m... Read more »

Uncashed check


September 4, 2014, 1:50 pm

My wife inherited an IRA, from her deceased mother. Every year, we receve the IRS minumum distribution, via check. We just learned that the 2012 $1200 check was never cashed. It will soon be r... Read more »

Pension Fund Change


September 3, 2014, 4:22 pm

I live in Israel. I have a provident fund (like a pension fund) paid from after-tax income when I worked. It is run by an insurance company. Now another company wants me to transfer the fund to them.... Read more »

Can I make both SEP and Roth contribution?


September 1, 2014, 10:48 pm

I'm self employed, sole proprietor, husband/wife, no corp or LLC. We put our max (25%?) into a SEP about $8,000 each. Can we also put money into an IRA or Roth IRA? I'm 59, my wife is 55. Some rec... Read more »

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The best rated discussions

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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 »

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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 »

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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 »

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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% vest... Read more »

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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 »

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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 »

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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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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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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 »