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The most recent discussions

Do all tax software programs have problems with From 2210 for 2018?


February 18, 2019, 10:40 pm

I use TurboTax deluxe. I have been unable to efile my 2018 return due to an error on form 2210. I underwitheld but qualify for the 85% exemption. I entered that on the line next to Block A. IRS sent ... Read more »

Multiple 1099 Rs


February 13, 2019, 7:45 pm

Is it possible to add the 1099Rs together if all from same issuer? tks all -- Read more »

Premium Tax Credit


February 9, 2019, 3:22 am

I have a client who would have qualified for her premium tax credit for the first 10 months of the year. However, she got married in late November and her new spouse's income put her out of the rang... Read more »

Payments on Joint Return


February 9, 2019, 1:53 am

Hi all - I received an inquiry from a guy who (along with his wife) are behind in paying taxes, both with taxes owed. They want to file a joint return and make a payment toward their arrearages... Read more »

Mass. State Tax Question Re Deductability On Federal


February 8, 2019, 4:57 pm

Hello, Thanks for previous help; nice of you folks to take the time. Very appreciated. This has always confused me. Let me use some arbitrary numbers in my question, as it's probably easier to ... Read more »

Child Care Credit


February 8, 2019, 8:35 am

Child and Dependent Care credits, regs. say if you are non working spouse and are looking for a job, you can still get the credit. So that means stay at home parent who needs a break, can send the k... Read more »

Sr. Citizen Question Please Re $ $10,000 Limit (State & Local)


February 6, 2019, 4:23 am

Hi Folks, Am in my 80's now, and although I hate to admit it, I miss many of the nuances with this kinda stuff. Especially with the new tax regulations. So, let me please ask to make sure I ha... Read more »

529 Plans


February 4, 2019, 12:45 am

I hope my question is not considered Unrelated to the tax forum's objective! I have a one year old grandson, for whom my son and I both want to start a 529 plan. My son thought that there are a (... Read more »

turbotax error, form 2210


February 2, 2019, 3:56 pm

While doing my taxes in turbotax, it brings up the following error at the end: Check This Entry Form 2210: IRS to Figure Penalty Box You must check this box or obtain an update before you f... Read more »

Daughter didn't file 1099-Q with her taxes, can I file it with mine?


February 1, 2019, 6:26 pm

My daughter is a college junior. Last year we took two distributions from her 529. For one, for expenses we'd already paid out-of-pocket earlier in the year, we asked the 529 plan administrator to... Read more »

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The best rated discussions

J2 students and tax treaties

rating: 5

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 »

What do I do with a ***Substitute Form*** 480.6C?!

rating: 5

I just received a form 480.6C from the Gobierno de Puerto Rico telling me I received $244.16 in dividends, with $24.40 withheld. Apparently an investment account hold some stock in Oriental Finl Gro... Read more »

529 Withdrawals, Support Test, Exemptions or Tax Credit

rating: 5

Daughter is in college. Tuition last year was $45K, $30K was paid by 529 withdrawals paid directly to the school. I control the 529, but the 1099-Q was in daughter's SSN Daughter earned roughly $9... Read more »

Inherited installment obligation.

rating: 5

In pub 537 it says that if you inherit an installment obligation it is taxed the same as it was for the seller. However; when you inherit property, the basis of the inherited property is the FMV on ... Read more »

Gain on Brokered CD Purchased at Discount- Is Gain Taxable at Maturity?

rating: 5

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 »

S-Corp Year End Closing Journal Entries

rating: 5

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 »

IRS Notice 54

rating: 5

I filed taxes earlier in the year, owing around $60, which I paid with the filing. Then I got a Notice 54 with a check for $14, stating I would be receiving a notice in a few days that explains why ... Read more »

AGI and FEIE

rating: 5

If you have foreign earned income and take the foreign earned income exclusion, does this increase your AGI? My specific question at the moment is how it would affect ability to deduct passive activi... Read more »

CP2501 resolution process

rating: 5

I had by mistake not included sale of house in 2012 returns. IRS sent us letter CP2501 to which we replied 3 weeks back that we do not owe capital gain taxes as we lived in the house for more than 15... Read more »

taxation after a corporate acquisition event: unexercised but vested stock...

rating: 5

Consider the following scenario: 1. Company A buys company B. 2. Employees of B hold some vested, but un-exercised incentive stock options (ISO). 3. As part of the buyout process, these options get ... Read more »

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