Latest threads in Taxes General Forumshow only best voted threads
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Trader status question
How can a small trader (under $100K) who does not day trade but uses a strategy such as, say, merger arbitrage or premium writing get MTM accounting? Surely, if it us set up as a business entity, it...
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10 years ago
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How long between "sent" and "post" ?
According to WMR, IRS "sent" my refund on June 18th (59 days after it was accepted, but that's another story). However, I still (as of the 20th) haven't seen it posted in my bank account. Naturally,...
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10 years ago
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Rental property mortgage expenses
Publication 527 contains seemingly contradictory statements about mortgage expenses. Chapter 1 says: Certain expenses you pay to obtain a mortgage on your rental property cannot be deducted as...
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10 years ago
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How to import my inheritance of 20 oz of gold bullion from UK to USA
I have an inheritance of 20 oz of gold bullion that i wish to remove from the UK and bring to USA. How much will this cost me and how do i go about it?
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10 years ago
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1099-MISC and safe harbor home office (OIH)
Another question for tax year 2013.... As I understand current rules, if a sole proprietor has an office in home (OIH), and the home is rented, not owned, by the sole proprietor, then the sole...
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10 years ago
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Form 926 filing requirements
US corporation and it's owner, a resident alien, will make payments to a related foreign corporation for products and for repayment of a loan from the foreign corporation. I've gone through Section...
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10 years ago
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electric vehicle fuel expense
For an all-electric passenger car (e.g. Tesla) used for business (or charity or medical or moving, for that matter), is the standard mileage deduction rate one and the same as for gasoline-powered...
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10 years ago
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Sub-S to LLC conversion
I have a client who is the sole shareholder of a Sub-chapter S- corporation. He has a potential investor who wishes to acquire a 50S%+ share of the business from him. However, the potential investor...
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10 years ago
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Antitrust Settlement Check
I have received a check for a currency conversion fee antitrust settlement (Ross, et al. v. American Express Co., et al.). This lawsuit involves claims that the settling defendants Bank of America,...
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10 years ago
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US Citizen Residing Abroad With Non-Resident Alien Spouse
As I read the instructions the US citizen must include the entire value of joint bank accounts in Forms 8938 and TD F 90221. My question is how the interest is reported -- all of it, half of it, or it...
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10 years ago
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Irrevocable Trust transfer of Funds( as opposed to Broker reported income) to Beneficiary
My late husband and I had set up a Trust ( we have no children). On his death, I have now divided that Trust into an Irrevocable Trust with EIN to file a 1041 next year ( his share as one might say)...
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10 years ago
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Trust sells rental nonresidential real property
What forms does the trust use? Schedule D? Form 4797? (but the activity was passive, and did not rise to the level of a business). Form 8949? net result is a long term capital loss
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10 years ago
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Wash Sale rules and dividends paid AS SHARES.
I am aware that reinvesting dividends can trigger wash sale rules, but does that apply only when dividends are manually (re-)invested (i.e. a sales commission is charged because a cash dividend is...
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10 years ago
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NY resident with internship in WA, which state taxes do I need to have withheld?
Hi, I'm a college student from NY state. Both my permanent residence and my university are in NY. However, this summer I'm in the state of Washington for a paid internship. Do I need to have NY state...
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10 years ago
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Is the first result of idverify.irs.gov the controlling one?
This is either a tax question or an HTML question. After an unusually long one-month wait for a refund, I get a letter from the IRS asking I go to a site of theirs: The site asked a few...
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10 years ago
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