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The most recent discussions

Time to reverse IRA distro?


June 28, 2017, 3:49 pm

I took a (traditianal) IRA distribution in January. Since then, I've learned that a stock I own (actually, a PTP) will be subject to a forced sale. AIUI, this will count as income, substantially ... Read more »

How long do I have to keep my records for the IRS?


June 20, 2017, 4:57 pm

How long do I have to keep my records for the IRS? I had a capital loss 2 years ago ( tax year 2015) which I recorded in my tax return when I filed my federal taxes (1040).  I filed the retur... Read more »

Estimated Taxes


June 18, 2017, 12:52 am

Hi, My wife has recently started working. This will be her first job in the USA. This job is not withholding taxes from her pay. I have to do estimated taxes. I am not sure how to do estimated taxe... Read more »

Capital Gains/Losses  question


June 13, 2017, 6:39 am

Re: Capital Gains/Losses  question I have accumulated capital losses over a few years. I am doing a 1031 exchange. If the sales proceeds are more than what I invest in the replacement property the... Read more »

Info to calculate RMDs


June 7, 2017, 4:24 pm

After a little googling, I find I have no need to find out how much I have contributed to my IRAs and SEPs, I just do the calculations with the total amount. One reference said to calculate the a... Read more »

Suppose I appear on Judge Mathis' TV courtroom?


June 5, 2017, 2:20 pm

I was rear-ended in a traffic accident that caused structural damage to my car. While the other party's insurance fixed my car, my car has a tarnished record of being in an $5500 accident. It has i... Read more »

Question on K-1s


June 2, 2017, 2:22 pm

As an individual filing annual tax returns to the IRS, like W2's, does one have to submit K-1s with a 1040 tax return? -- Read more »

When does helping keep up the house become paying rent?


May 23, 2017, 11:58 pm

This question is specifically asking about the technical definition, regardless of how unlikely it may be for the IRS to ever find out or care. Person A owns and lives in a condo unit. Person A's... Read more »

"Agency fee" for business and personal insurance policies


May 19, 2017, 11:11 pm

I recently changed insurers (and insurance agent) for 2 policies. One of the policies is a landlord homeowners policy on a rental property; the other policy is a personal auto policy. The landlor... Read more »

how to report PTP gain, if on two forms/schedules?


May 15, 2017, 9:21 pm

(Tables below are in fixed-pitch font, which works fine in Free Agent. If this is a problem for other viewers, I can try posting from a browser.) The scenario is a publicly-traded partnership (PTP... Read more »

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The best rated discussions

Giving money to a trust fund rating: 5

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 »

Re: 1099-B Restricted Stock Options sale...Do I need to file a Schedule D?... rating: 5

dorlockt@hotmail.com writes: No, that doesn't really change anything. In fact, it makes it even more straightforward. Did you file a Section 83(b) election on these shares to treat them as 100% ... Read more »

? on loss on sale of residential rental property - Form 4797 rating: 5

My daughter and SIL sold a house they owned and rented out for the past 8 years. In filling out form 4797, I am assuming they are under the 2nd option in Line 7 referring to Individuals, partners,--... Read more »

Rent income on 1099-MISC rating: 5

Some of my real estate rent income are reported on 1099-MISC. Does this mean that I have to report these payment on Schedule C instead of E (thus subject to potential SE tax)? =======================... Read more »

where did the distributions from line 19 of 1065 Schedule K1 go? rating: 5

Looking at my Schedule K-1 for a 1065, there is a distribution on Line 19. But I didn't receive any money from the partnership. I'd expect a direct deposit to show up in my brokerage account, or at... Read more »

How To Report Stock Exchange In Merger? rating: 5

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 »

Overpaid state witholding -- strategy? rating: 5

I'm in a situation where the amount I paid California in 2006 estimated tax payments during 2006 is considerably more than my actual tax liability. Is it possible to not claim the excess amount paid ... Read more »

Ohio Source Income rating: 5

We had a TCE client yesterday who is a MD resident and the sole beneficiary of a testamentary trust managed in Ohio. The income is all from interest and annuities and is all paid out to the benefici... Read more »

Qualified Charitable Distribution from IRA rating: 5

Has anyone seen any details on how the mechanics of the QCD will work? The only thing I've seen is that the gross amount goes on 15a, the taxable (if any) on 15b, and QCD on the dotted line. Nothing ... Read more »

401K Contribution on Total Compensation Including Schedule K-1 Income rating: 5

Several 401K plans I have seen allow owners of a business that generates a Schedule K-1 to contribute to 401K based on total compensation which they define as W-2 earnings plus Schedule K-1 earnings.... Read more »

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