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There are 41964 articles in 8482 discussions. See the most recent and the best rated articles in Taxes General Forum below

The most recent discussions

For a Rental Apartment, Is This Cost A Repair or an Improvement?


January 27, 2015, 11:00 pm

A rental apartment has a balcony off the bedroom. Many years ago, the balcony was enclosed with walls and windows to make the bedroom larger. Over time, the walls and windows that were originally ... Read more »

Fees and income after a Crummy Trust payout


January 27, 2015, 9:05 pm

I am beneficiary of half of a Crummy Trust. The trustee told me I could either sell the securities or take them, but either way I was responsible for the capital gains that resulted, sooner or later... Read more »

Cost basis for recipient of gifted stock


January 26, 2015, 8:34 pm

Someone gives me stock valued at $10,000 at the time of the gift, but it cost the giver only $5,000 when he/she purchased it. My income is so low I do not normally file income tax returns. When I do... Read more »

Who is entitled to claim daughter as dependent?


January 25, 2015, 10:13 pm

I found a similar case in the archives but the parties were able to work out an agreement. In the following case, two of the parties aren't even speaking. 19 year old Daughter of a single mom has ... Read more »

Does a property manager have to issue 1099 to the landlord?


January 25, 2015, 8:04 pm

As a property manager, we collect rent money on behalf of the landlord? Do we have to issue a 1099 form when we give the rent money to the landlord? Also, does the landlord have to issue a 1099 form ... Read more »

Confused about this very simple 1040X situation (what to include)


January 25, 2015, 5:38 pm

Ok, I just received a revised 1099-DIV form for year 2011. Box 1 now has a smaller amount. So, if I file an amended 2011 return I will get some more money back. I did the process with Turbo Tax.... Read more »

Housesitting Taxable?


January 25, 2015, 5:38 pm

Hi. I am not a tax professional, so please excuse me if what I am asking is some sort of silly question... Say that I accept to housesit somebody's property (house, pets, etc.) while they are o... Read more »

Foreign Health Care Insurance


January 23, 2015, 7:28 pm

I am a US citizen currently resident in a foreign country. I find it hard to understand if Form 1040 considers me covered by health insurance or not. In fact I am, but I don't know what the IRS think... Read more »

Non-calendar year health coverage exemption


January 22, 2015, 9:01 pm

Taxpayer began working for an employer in late 2013 that offered a health plan that ran 6/1/2013-5/31/2014. Taxpayer chose not to enroll in the plan, left that employer in the middle of May 2014, j... Read more »

HSA contribution limit question (re: filing status)


January 21, 2015, 10:55 pm

Hi I see for 2015, HSA contribution limit is $3350 for single, or $6650 for family. Does this depend on the filing status (individual vs joint) or does it depend on my insurance (enrolled as indiv... Read more »

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The best rated discussions

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


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 »

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No staples or tape?! The IRS "attachment rule"


I hadn't filed a paper return in years and years, but I had to this year - ack! The instructions on how attach the W2s, etc., were printed on the back of the big W2: there was a tiny line drawing of ... 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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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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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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Contract work - what is deductible?


I found some temporary work as an independent contractor in a city 900 miles away. However, I am only going to be working two days per week. On the two days I work, they give me a $60 per diem, to... 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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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 Report Stock Exchange In Merger?


Over the years, my wife accumulated 418.619 shares of Nicor, Inc. In December 2011, Nicor was merged into AGL Resources (AGL). Each Nicor share was exchanged for $21.20 in cash plus 0.8382 share o ... Read more »