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The most recent discussions

Need Cap Gains Info


November 23, 2017, 3:27 pm

We had a condo rental for many years and show Cap Gains after sale in 2017. For years, in identifying expenses, we listed major improvements each tax year. Now that we’ve sold it we were wondering ... Read more »

Withdraw From Regular Account or Roth IRA First?

  [ 2 ]
November 21, 2017, 2:10 pm

I have two brokerage accounts, one is a regular account and the other is a Roth IRA. I need to withdraw some money on a regular basis from one or the other or both. Being in my 9th decade, I am con... Read more »

sharing deduction for donation of parents possessions


November 18, 2017, 6:52 pm

my sibling and I in the course of cleaning out our parent's home after death donated a great deal of clothing and household items to Goodwill that were left after the estate sale. We kept an invento... Read more »

Question about Cashing in Series E Treasury Bonds


November 16, 2017, 12:07 am

I have several paper Series E treasury bonds which I purchased in July 1992. The bonds matured in July 2004 but I have not cashed them in yet. In 2012, I made a tax decision to pay all the accrue... Read more »

NPOs and affiliate programs?


November 15, 2017, 4:03 am

If a church, or other NPO, wants to raise funds using an affiliate program (eg, Amazon), how would the tax write off for the buyers be? Would they be able to write off the entire purchase of the item... Read more »

Estate Valuation of Retirement Plans In Community Property State


November 10, 2017, 11:51 pm

How are retirement plans (defined contribution and defined benefit) valued in a decedent's federal estate in California if the surviving spouse has a community property interest in the plan? Assu... Read more »

Taxation of 401-K in estate


November 9, 2017, 7:57 pm

Here's one I thought I knew the answer to, but can't find anywhere. A dies leaving a 401-K. If the money from that plan isn't distributed until after the first tax year of the estate, when is the... Read more »

Rent / Leasing tax question


November 8, 2017, 12:31 am

Rent / Leasing question   I am thinking of doing a 1031 Exchange With respect to a 1031 exchange... can one buy a beach property and rent it on aribnb?  as opposed to renting it out on a month... Read more »

U.S. Taxation Of Foreign Social Security Benefits (Switzerland)


November 7, 2017, 7:58 pm

I have both Swiss and U.S. citizenship and I am a resident of the U.S. for tax purposes. In a few years, I should be able to qualify for Swiss Social Security benefits based on contributions that ... Read more »

Documentation for renovating a home


November 7, 2017, 4:01 pm

Is an itemized invoice/order sufficient for documentation? Or do I also need to keep the form of payment. e.g. I put in an order for a list of items at a store; then I pay for that order at a cash ... Read more »

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The best rated discussions

capital loss carry over discrepancy between Federal and State (CA)

rating: 5

I did my taxes last year using Turbo Tax. While going through a copy of my returns, I realized that there is discrepancy of about $500 between the capital loss carryover in the worksheets between Fe... Read more »

Renting building owned by LLC to LLC member

rating: 5

The situation is I have a small business that I run through a single member LLC. I purchased a building under my personal name. Can I rent the building to the LLC? The income generated would be pa... Read more »

Re: 1031 exchange question. Is this illegal?

rating: 5

Re: 1031 exchange question. Is this illegal? *********************************************** We would like to sell a rental home and do a 1031 exchange. We are under a lease with the tenant till e... Read more »

On form 1120, how to determine value of capital stock?

rating: 5

On form 1120, how to determine value of capital stock? On form 1120, how does one determine the value of capital stock on Schedule L? For a publicly traded corp, I imagine it would be the value the s... Read more »

Single-Member LLC and 83(b) Election

rating: 5

I recently established an LLC in New York State with me as the only Member (Single-Member LLC). Is there any reason for me to file an 83 (b) election or would that not apply in my situation? Thanks... Read more »

STAR Credit taxable

rating: 5

I receive a credit on my real estate taxes in New York called a STAR credit. I get a check each year. Is this taxable on my 1040 or IT-201? -- Read more »

Bond fund distributions to NRA

rating: 5

As I understand it, U.S. sourced interest income is tax free to NRA. But dividends from U.S. companies are taxed. How about dividend from bond funds whose distributions are sourced by interest incom... Read more »

IRS Letter 4809

rating: 5

Today I got a Letter 4809 from the IRS pointing out that I prepare a lot of returns with Schedule Cs (admit). The letter advises me that I should follow certain procedures to make sure that Schedule ... Read more »

foreign tax home & US abode redux

rating: 5

This topic comes up quite a bit in this forum. My question pertains in particular to a scenario very similar to the following Misc.Taxes.Moderated thread from 2008, which I provide a link to here ... Read more »

Deemed Premium and Basis Adjustments?

rating: 5

One of my brokerage account 1099s has listed under Supplemental Information, Fees and Payments Received amounts for Deemed Premium and Basis Adjustments I'm guessing that the Basis Adjustments w... Read more »

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