I will soon be 70 1/2 and I will have no need for my Social Securty RMD income. Is it possible, like I think to be true for an IRA RMD, that I can request a direct SS payment to a recognized char... Read more »
My neighbor had has refund reduced by $200. He said he never received a letter explaining why. Is there a way to find out why on the internet? bw -- Read more »
Are capital gains & QDI subject to AMT? e.g. let's assume a total income of $150 bond interest and $1 mil LTGC and std deduction of $13K. Is any portion of the LTCG subject to the 28% AMT? TIA --... Read more »
I have some I-Bond with substantial amt of accrued interest. If I donate those bonds to a charitable organization (CO): 1. who will report the accrued interest -- me? OR the CO? If CO, do they h... Read more »
Correct me if I'm wrong. My home, purchased 1987, now mortgage free, has a cost basis of $200k and has been the primary residence for my wife and I for 32 years. It's now worth about $700k. If I s... Read more »
Sometimes IRS form 1099-DIV reports an amount in Box 3: Nondividend Distributions. What kind of activity behind the scenes at the payer can generate this kind of distribution? -- Read more »
Actually, two questions. My wife, who is retired, had a 401K with a company that she worked for. That company declared bankruptcy last year. We got nervous about that, so we moved the funds direc... Read more »
I know that in the normal course of affair a reseller would have the resales exemption certificate to show to a vendor and so would not pay any sales tax. Then when the item is resold the tax on ... Read more »
I have a question about rolling-over capital gains on my profits from a sale of a musical instrument that is used for self-employed business. I am self-employed cellist (Schedule C) with a profess... Read more »
The SECURE Act has passed the House 417-3 and is expected to pass the Senate and by signed into law. I've seen articles talking about how it eliminates stretch IRAs. However, when I look at the... Read more »
Hello, I came to the US with a J2 visa, and later admitted to grad school. My country and the US have a tax treaty that benefits students. Can I benefit from this treaty even though I have no F1/J1 v... Read more »
My wife and I both want to give our son a $14,000 gift. All we have is a joint checking account. Can we each write him a $14,000 check from it? Can we simplify and write him a $28,000 check? -- Read more »
In my brokerage account, I had two CD's that matured in 2009. Both were purchased at a discount below face value and generated a gain (long term) of over $1000 at maturity. I would have thought a 109... Read more »
Hi all: I hold the Gold ETF (GLD) and have received a 1099B for this fund. There are several small amounts listed on the Form called Principal Payments. Looking around at various tax guidance reports... Read more »
I want to make sure I close my equity accounts correctly at the end of each year. I'm the sole owner of my s-corp. I have three equity accounts: Beginning Equity(BE), Contributions & Distributions.... Read more »
My client just got a letter from the IRS for a 2008 return asking for a copy of the AMT form 6251 when there is no possible way he could need one. This may be the start of a big headache for all of ... Read more »
I recently received a check (dated 04/23/07) payable to my late mother. I'm assured by the family law firm that it belongs to the bypass trust funded by her death. But the question I have is in reg... Read more »
I filed a client's 1040 about three weeks ago, claiming the Earned Income Credit. The client has already received a refund of the amount expected. Today the client got a Notice CP09 from the IRS, ... Read more »
We installed solar panels on our roof last year. We received after-the-fact rebates from both the state and the city; the amount of the city rebate was $2,640. It was our understanding that both r... Read more »
I'm having problems finding a tax code or IRS statement on point. Is it accurate to say that there is no wash sale when you liquidate your holdings even if you bought a replacement security days b... Read more »
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