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The most recent discussions

Upon termination, is the PTO that you have accrued taxed higher when it is ...

July 6, 2015, 7:10 am

I am leaving a job to return to school, I have 120 hrs of accrued Paid Time OFF that would be paid in one lump sum upon termination. Is this money taxed at a higher rate? Read more »

Family foundation funding relatives' research

July 5, 2015, 4:27 am

A guy I know has this bright idea: set up a non-profit, presumably 501(c)(3), make tax deductible contributions to it, and pay grants out to fund research being done by a relative. The relative's ... Read more »

adding beneficary to stock trading account

July 4, 2015, 12:12 pm

I want to add my son to my stock beneficiary account, i just added. Now on my schwab statement it shows Designated Beneficary Plan TOD. What does this mean. If i die and I don't have a will will the ... Read more »

Class Action Settlement - Misc Income or LT Cap Gain?

June 30, 2015, 3:34 pm

I just received a settlement check for a class action relating to a stock investment I held and sold several years ago. I'm thinking I should report that amount as a long term capital gain rathe... Read more »

Discreamcy in 1099-R and 5498

June 29, 2015, 12:20 pm

I recently filed an extension when doing my taxes for tax year 2014. I did a rollover from a 401k to a rollover ira. so regardless of what I do it won't effect my taxes. Right now, there is a discr... Read more »

Travel and entertainment

June 28, 2015, 6:18 pm

I work part time (1099 income) for a media company and as part of my job I hire freelancers, some of whom I have known for a while, socially and professionally. If I invited them to dinner with other... Read more »

Dependent Claiming Question ?

June 25, 2015, 7:40 pm

Hello, Have an adult son, who, for various reasons, I provide full, free, room and board, food, etc. Also, dollars, along with some aid from the State, for his health insurance. I have been takin... Read more »

NY sales tax questions

June 24, 2015, 5:16 pm

Ian having my water heater replaced. One. Guy is charging sales tax,other is not Second guy says he pays sales tax when he buys it so he doesn't have to charge tax when he sells it,and there is no ... Read more »

Can I deduct my trip?

June 24, 2015, 11:23 am

I am taking my son from WNY to his summer job in CT. As long as we are going, we are picking up a boat and 4 sets of oars in CT for a non-profit crew club. It adds 2 hours to our 13 hour drive. ... Read more »

Savings Bond Interest ?

June 23, 2015, 1:52 pm

Hello, Have cashed in some E and EE Savings Bonds. First time ever doing so. I realize there is Federal tax due on the interest portion. Where on the 1040 is the total amount of interest from thi... Read more »

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The best rated discussions


CCH Tax News Headlines - November 10, 2010

CCH Tax News Headlines - November 10, 2010 Federal Headlines: 11/10/2010 - _Lawmakers Pledge 2010 AMT Relief _ ( Read more »


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 »


Appeal tax penalty and interest?

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 »


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 »


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 »


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 »


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 »


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 »


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 »


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 »