Latest threads in Taxes General Forumshow only best voted threads
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Statement of fees paid
Is there a requirement for "investment advisors" to provide a year end summary of fees paid to manage an investment account? Does it matter what the investment is in (stock, bonds, real estate,...
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11 years ago
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Mortgage On Primary Residence To Purchase New One
Hi, We took out a mortgage on our house in the U.S. to purchase a new one overseas. The new house is our primary residence. The U.S. house is sold. Is the interest on the mortgage tax deductible in...
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11 years ago
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Tax Calculation - Both Spouses Overseas
Is the following right, assuming both spouses work overseas and are eligible for and have elected to take the Foreign Earned Income Exclusion. One spouse will be eligible for the Foreign Housing...
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11 years ago
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Roth & cert. of deposit (CD) versus 1099?
I have Roth IRA funds invested in a bank 2 year Certificate of Deposit (CD). I opened this CD February 2012, it matures Feb 2014. I am 70 years old. Will I get a yearly IRS 1099 for the interest...
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11 years ago
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Supplemental Mortgage Pool Statement?
I have already fired the investment manager that put me into this. I think he looked for things that made for confusing tax returns. Of course I fired him for underperforming the indices; not for...
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11 years ago
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Handling future sale of condo converted from personal to rental
My son has condo that he lived in from 2006 to June 30 2011. It has been available to rent since july 1 2011. didn't actually rent until Sept. 1 2011. He is going to sell it this year. Bought for...
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11 years ago
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How to report passive losses and capital gains from PTP/MLP after its sold
I had a MLP which reported losses in box 1 part III in past years. I disposed of it this year. In past threads I have seen: As a passive investor, you cannot take those losses. Typically your MLP...
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11 years ago
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Convert rental property to primary residience
My wife and I would like to downsize our primary residence and we are thinking about moving into one of our rental investment properties after the sale of our home. The investment property is the...
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11 years ago
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Limit on number of extensions?
A friend always files for an extension (he's a procrastinator) and never pays any penalties or interest because, as he says, he has enough withheld during the year to cover what he owes when he...
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11 years ago
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What do I do with Municipal Original Issue Discount?
My brokerage statement says I have $13.20 of MOID. It is not on a 1099-INT or a 1099-OID; just a note at the end of the statement. There is a 1099-INT for the same bond of $252.50 of tax free...
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11 years ago
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How do I handle a 2012 1099-R with "R" in box 7?
$365,000 was rolled from a Trad. IRA to a Roth in 2011. It was recharacterized in March of 2012 with additional earnings of $20,000. The 1099-R for 2012 has a R in box 7. My software says to delete it...
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11 years ago
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estate tax "portability provision"
The "portability" provision permits a spouse to use the unused portion of the late spouse's estate tax exemption. Can a deceased taxpayer's estate use more than ONE such unused portion if there were...
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11 years ago
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How do I extend short calendar year s-corp
I have an s-corporation that is a fiscal year entity ending 09-30. Their 09-30-2012 year end has been extended and isn?t finished yet. I plan to revoke their fiscal year election in 2012 meaning...
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11 years ago
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Remove Parent from Condo Title
My father's name is currently on the title of my condominium in Washington, DC (he co-signed the original note). Is there a way to remove him from the title without suffering any tax-liability?...
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11 years ago
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False wash sales recorded?
I'm looking at cap gains forms from a reputable brokerage, with seemingly random and false claims of wash sales disallowed. Say I buy 10 shares of x and sell it 2 weeks later at a loss and never buy...
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11 years ago
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