Latest threads in Taxes General Forumshow only best voted threads
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Reasoning on Computation of Pretax IRA withdrawal?
Apparently they want the value of your IRA at the end of the year you take the withdrawal rather than at the beginning, in computing what fraction of a withdrawal is a return of already-taxed money....
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11 years ago
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Can I switch from MFS to MJ?
I screwed up. I filed my 2012 return MFS and received a refund of about $1700. But when I went to figure out my wife's taxes I realized that by filing jointly we could save more than $8000. This all...
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11 years ago
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How much of NOL to use up
How much of NOL to use up? Suppose your AGI is 9750. After standard deduction and exemption, your taxable income is zero. So then does any of the NOL have to be used up? Strangely, none of the guides...
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11 years ago
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Foreign Income Exclusion
Individual worked for a US company and lived abroad over 330 days in each of 2009 through 2011 and qualified for the foreign income exclusion (Form 2555) in each of those years. In 2012, he moved back...
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11 years ago
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Datamatics tax outsourcing
Do any preparers using ProSystem with a large number of 1040's use Datamatics to outsource? I am wondering how the process works with ProSystem since it's not online as opposed to GoSystem Tax....
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11 years ago
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1099 Consulting - two questions
I?m an Illinois resident going through hell and I?m actively engaged in a job search. In 2012, my only source of income was premature 401(k) distributions. I?m in my fifth week of a six week 1099...
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11 years ago
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1099 Consulting
I?m an Illinois resident going through hell and I?m actively engaged in a job search. In 2012, my only source of income was premature 401(k) distributions. I?m in my fifth week of a six week 1099...
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11 years ago
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House Owned Overseas As A Corporation
Hi, My wife and I purchased a retirement home in Costa Rica as a corporation (common here to reduce taxes). The house is worth more than $400K. It is only a house - we do not derive any income from it...
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11 years ago
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State taxes due, but to what state?
My wife did some out of state contracting work as an employee of a consulting firm last year. Our state of residence and domicile has no income tax. The firm of whom she was an employee is based in...
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11 years ago
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can do either Insolvency discharge or Qualified Principal Residence of Indebtedness discharge, which is better?
so i only had a cancellation of debt from Fannie Mae for my mortgage on my primary home. i can get rid of it via insolvency discharge, but would it be better to do qualified principal residence of...
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11 years ago
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Got both 1099-c and 1099-a from Fannie Mae for mortgage debt cancellation on my foreclosed primary ca home, same Date but different FMV listed. What to list as FMV on p4681 Foreclosure worksheet (Table 1-1)?
Got both a 1099-c and 1099-a from Fannie Mae for mortgage on my foreclosed primary ca home, $278k is the outstanding principle/debt cancellation. Both have same Date but different FMV (fair market...
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11 years ago
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1099C question
We operated a graphic design business for decades. A few years back I had to take series of classes to upgrade skills to maintain the business. In order to do this I took on student loans. Soon after...
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11 years ago
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K-1 - Part III - Box 16 - D,F
K-1 reporting - Part III - 16 D, F I received my K-1 from a stock investment called - Brookfield Infrastructure Partners - stock symbol - BIP I'm having some "challenges" with the K-1 and getting...
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11 years ago
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how member of multi-member LLC reports their own expenses for LLC
How does member of multi-member LLC reports their own expenses for LLC? This link 080222075857AAhkpQs says touse Schedule A, which makes the deduction subject to the 2% haircut and AMT. However that...
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11 years ago
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parents home sale - child joint owner
Parent put 3 children on deed as joint owner in 2001. Purchased property in 1999 for $83000 Sold 2012 for 69000. what basis do the kids use and can they deduct their portion of loss on schedule D?
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11 years ago
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