Latest threads in Taxes General Forumshow only best voted threads
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Qualified dividends reported on 1099-DIV
This year I've noticed that the qualified dividends equal the total dividends on 1099-DIV for 2016. This has never happened before. So my question is: has the definition of qualified dividends changed...
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7 years ago
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Foreign ETFs and Mutual Funds
Are foreign ETFs and mutual funds treated the same way?
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7 years ago
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Amortizing Goodwill
If a business with $500K of tangible assets is purchase for $1M, there is $500K of excess value - or "goodwill" - that appears on the balance sheet of the buying company. My understanding is that...
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7 years ago
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In which tax year should I include this transaction?
In which tax year should I include this transaction? I did a Reverse 1031 exchange transaction. Purchased a property in late July in 2016 and sold my property in Jan 2017 within the 180 days time...
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7 years ago
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Accrued Market Discount on 1099-B
My 1099-B this year include an Accrued Market Discount on a bond that was sold. It increased my cost basis. Do I need to add it to my interest income -- on top of the interest income that was reported...
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7 years ago
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Is there a date by which broker must issue corrected 1099-B?
I received 1099-Bs by Feb 15 from my broker but understand that any corrected 1099-Bs must be issued by Feb 28. Can anyone confirm that?
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7 years ago
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Kiddie Tax, Foreign Parenta
With the recent question of the kiddie tax, I recently had an inquiry from a student who comes under the kiddie tax. The glitch is that his parents are Canadian, and have no US source income. I told...
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7 years ago
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Late 1099s and 663(b) Option
I am trustee/co-trustee for two trusts. The financial firm holding the accounts for the trusts has informed me that 1099s won't be issued until approximately 10 March. I had intended to exercise the...
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7 years ago
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"eligible building property description"
TaxACT has an area on their schedule E data entry form, in the section where you can choose your annual elections for small taxpayer and de minimis safe harbor, where you are supposed to enter the...
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7 years ago
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schedule E vacation/short term rental
I have a vacation condo that I exclusively rent out. Average rental term is less than 7 days. When I got this property, the guidance was that short-term rentals like this go on schedule C, and that's...
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7 years ago
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Can my 23 yo son use an education deduction?
My son is 23 and in graduate school. I have too much income to get any benefit from his significant tuition expenses. He has some income, both investment and employment. He doesn't owe much tax,...
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7 years ago
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NY PT resident
Sister lives in FL 5/1 to 12/1, address on 1040 will be her NY address and where she lives PT. Will she get PT residency for NY and how to show it. tks all
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7 years ago
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Is a lease tax on a foreign rental deductible?
An apartment is owned in a foreign country. The apartment is rented out 100% of the year. The foreign government charges two kinds of taxes: (1) a real estate tax based on the appraised value of the...
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7 years ago
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Spouse Travel Costs
About a year ago, I underwent major surgery that required a 5 night stat in the hospital. The hospital is about 30 miles where my wife and I live and my wife would spend the days with me and then go...
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7 years ago
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Deduct charge for transfer between brokers?
Last year I closed out my Schwab account (a holdover from an account that a former employer required us to use to receive stock options and restricted stock) and transferred the remaing stock shares...
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7 years ago
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