Latest threads in Taxes General Forumshow only best voted threads
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Trust donations
Can charitable contribution made out of Lorraine's trust be deductible as a charitable contribution on her husband's tax return? No one is allowed to own a charitable trust or corporation. One can be...
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1 day ago | 5 | |
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1244 loss
What if the startup we invested in went belly up a year or so ago but we did not know about it? According to IRS form 1244, it says we should claim the loss in the year the...
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3 days ago | — | |
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Capital vs Income losses question
This is not a political question Regarding the extremely large loss that Trump declared in his IRS returns in earlier years. ($1 Billion?) Just curious about the following: 1. It appears that he lost...
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5 days ago | 1 | |
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Can I ignore a minor corrected 1099D?
My son did his own taxes for the first time this year. When he gets his own cell phone account he will be an adult! Etrade issued a corrected 1099D, moving $100 from qualified dividends to...
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6 days ago | 6 | |
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IRS Form 709
Is the form 709 for gift tax exclusion filed with a return or separately? tks all BW Form 709 IS a tax return. It's not an INCOME tax return, and it's not part of an income tax return. It's a gift tax...
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1 week ago | 8 | |
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Client never paid the $695 IRS penalty for not having health insurance in tax year 2017.
Client just received a letter from IRS. Client never paid the $695 because her tax person suggested she not pay it and they told her not to worry. She never heard from the IRS again until yesterday....
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1 week ago | 4 | |
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Question on QBI
Question on QBI re 2019 taxes Re: form 8995 QBI-Business Income deduction calculation ********************************************************* Line 12 on form 8995 relates to net capital gains. Does...
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2 weeks ago | 1 | |
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Where do I enter Health Ins premiums?
RE: IRS form 1040 for 2019 ******************** I have filed an extension and have to file the 1040 by Oct 15th, 2020 As a full time self-employed Real Estate professional with rental properties where...
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2 weeks ago | — | |
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SSN / Name mismatch
Hi I had to send my 2019 return by mail (in July). When I checked "Where's my Refund", it now says: + We have not processed your refund because the Social Security Number, + or the IRS Individual...
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2 weeks ago | 3 | |
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Form 5695 carryback/carryforward when MFS between MFJ years
It's looking like it's going to be advantageous for me to MFS (married filing separately) for 2020; however I filed MFJ (married filing jointly) in 2019 and will probably MFJ for 2021 onwards. I will...
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3 weeks ago | — | |
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applying refund to next year's return when filing late returns
I recently turned in my 2018 return & am about to turn in my 2019 return. In the 2018 return I applied the refund to 2019 (because otherwise I would owe for 2019). However, what if they don't process...
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3 weeks ago | 1 | |
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Question on rentals
We relocated to another state. Our plan was to rent out our home in the former State. But because it needed repair/remodeling we could not rent it out immediately. The remodeling/repairs will take a...
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4 weeks ago | 5 | |
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Correcting Accidental EFTPS Payment.
Our small S corporation pays a biweekly payroll on Thursdays to its employees and we file and pay a 941 payment via EFTPS by the following Wednesdays. I accidently used a previous payroll's data when...
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1 month ago | 1 | |
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Minimizing taxes on EE Savings Bonds
Hi, I have several EE US Savings Bonds created in 1989 and 1991 in my name. They either are already, or will all fully mature by mid-2021. My kids are currently in college. Ideally, I wanted to use...
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1 month ago | 10 | |
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Questions on Taxes Related to Working from Home
I have question as related to taxes. I don't know if it's relavent to the questions but I live in Florida and due to COVID-19 started working from home. Is it possible for an employer paying somebody...
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1 month ago | 2 |