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There are 41007 articles in 8295 discussions. See the most recent and the best rated articles in Taxes General Forum below

The most recent discussions

14K gift from US becomes a Loan in EU

April 22, 2014, 8:19 pm

14K exempt gift from US becomes a Loan in EU (Denmark)or else it is taxed at a high rate. Again it has to be a credible loan with proof of actual repayment or else it can be declared a taxable inc... Read more »

US Trust With Foreign Beneficiary

  [ 2 ]
April 22, 2014, 1:15 am

A foreign citizen who is NOT a resident of the US wants to gift money to a group of US citizens. Is there any way to structure a trust so that money is owned by the US citizens, but the income fr... Read more »

Student loan interest deductibility if borrowed from parents?

April 18, 2014, 7:05 am

If an undergraduate full-time student borrows (with the formal loan agreement & repayment schedule etc.) from her parents instead of from Stafford loan, will the interest on such loan be deductible f... Read more »

Deductibility of Volunteering - Transportation Expenses

April 16, 2014, 8:22 pm

Married, filing jointly, itemize deductions. My wife just started volunteering with our county's department of recreation and parks as a tennis coach. Are mileage expenses associated with county ... Read more »

Treatement of MLP k-1 data by Pennsylvania

April 15, 2014, 7:36 pm

I'm getting k-1s for 3 oil and gas MLPs and the business losses gets converted to passive losses which (somehow) comes into play when you sell. Turbo Tax gives you even less help with state k-1s the... Read more »

Any Downside To Not Filing A Tax Return?

April 14, 2014, 6:38 pm

If someone is not required to file a Federal tax return because their income is too low is there any downside to not filing? Is there any upside to filing when it is not required? -- Read more »

Reasonability of drop in taxes between 2010 and 2013

April 13, 2014, 7:29 pm

Taxable income 2010 = $47800. Tax due $6848. Taxable income 2013 = $46715. Tax due $3115. Tax taken from Qualifed Dividends and Capital gain worksheet. Has anything changed so drastically in t... Read more »

Filing son's taxes 1040EZ, my 1040 rejected because he claimed an exemption...

April 13, 2014, 7:06 pm

My sons filed their taxes on 1040-EZ using HR-Block online tax software. Simple summer job, but now when I try and E-File my taxes they are saying THEY claimed an exemption of their taxes, so I can't... Read more »

where to deduct profit sharing contribution

April 13, 2014, 5:04 pm

If you have a self-employed 401(k) can you deduct the profit-sharing contribution on Schedule C, line 19. At first glance the answer is no as publication 560 says BEGIN QUOTE Deduct the contributi... Read more »

Does IRS or FTB Withdraw Tax Due?

April 13, 2014, 3:11 am

Does the IRS and Franchise Tax board withdraw money from bank account entered on return for deposit, if money is owed, or does a check need to be sent with yhe return? Don't think they do but just do... Read more »

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The best rated discussions


CA state tax - W2 not required ?

Hi; I had opted for automatic tax filing extension for CA taxes for 2008 and now I need to send it by Oct 15. When I printed tax forms using Turbotax, it states that Do not attach any Form(s) W-2. Wh... Read more »


Fillable 1099-MISC forms?

This IRS page claims that with the correct version of Adobe Reader, I should be able to fill in certain forms:,,id=98121,00.html Either they're lying, or the 1... Read more »


How Important for Officers to Take Salary in C Corporation?

Taxpayers want to buy some Nevada real estate, so he (or they) form a Nevada C corporation to purchase the real estate. All of the rental income and expenses run through that corporation. One N... Read more »


401K Distributions Overseas

If a US Citizen emigrates to another country and then redeems his 401K's, does the person have a US Tax liability then? tks all bw -- 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 »


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 »


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 »


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 »


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 »


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 »