Latest threads in Taxes General Forumshow only best voted threads
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Nonresident Gift Tax
I'm confused about something. I know that non-citizens don't get a lifetime exemption (of a bit over $12 million for 2022) with respect to estate tax. But as far as I can tell that exclusion doesn't...
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2 years ago
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15 | |
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Missing 1099-G?
For tax year 2020 (returns filed in 2021), we had an overpayment on the state income tax return. We chose to apply the entire overpayment to the next year. Now it is almost Apr 2022, and I just...
2
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2 years ago
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Who should report the interest income?
I have several accounts with a bank. The account holders are my wife, I, and my daughter. I file joint return. For the interest in these accounts, who should file to IRS?
5
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2 years ago
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5 | |
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is the accountant right
My daughter got an Ameritrade account titled Her Name AS CUST FOR Son's Name UTMA CA UNTIL AGE 18 Son is 2 1/2 years old. Account is under son's SS # Her account, invested in stocks, has realized...
3
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2 years ago
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3 | |
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Wash sales again
Sorry to raise this again, but I'm having trouble applying the rules to my specific situation. I'd welcome some clarity. I have some BND in my taxable account, my traditional IRA, and my Roth IRA at...
5
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2 years ago
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5 | |
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Social Security Benefits
I have a recollection of hearing that the age that Social Security benefits continue to grow has changed from 70 to 72. But on the SSA website it says it's still 70. Did I misunderstand? Thanks for...
2
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2 years ago
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2 | |
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An audit by any other name??
I posted in a different thread that when I checked on my Michigan refund, it said ?Under Review.? I was curious what it might be. Well, yesterday I received a letter from the Michigan Department of...
2
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2 years ago
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2 | |
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Estimated Tax Forms From Treasury: Still Being Sent ?
Hello, Might anyone know if the Treasury is still sending out the Estimated Tax Forms that individuals use to pay estimated taxes four times a year ? Have received from the State (MA), but not the...
2
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2 years ago
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2 | |
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Effect on Unrealized CG in Mutual Fund after a LTCG distribution on 1099
So one of my MFs kicked out a rather substantial LTCG this year, resulting of course in quite a jump in my taxable income. Yes that's sort of a good news/bad news event, but my question is "what...
3
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2 years ago
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3 | |
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Obligation to amend return to reduce your taxes?
A friend filed electronically this month, and then a few days later got an amended 1099-B from his broker. When he ran the numbers, he saw that filing his tax would have him getting a larger refund by...
4
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2 years ago
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4 | |
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$1400 Recovery Rebate Credit for Non-Dependents in 2021 (Who Were Dependents in 2020)
I would appreciate confirmation from anyone who has looked into this: Those individuals, who -- were claimed as dependents in 2020 -- but file as (bona fide of course) non-dependents in 2021 are...
2
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2 years ago
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2 | |
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Michigan refund "under Review"
Well, I e-filed Fed/Mi taxes on 3/4. Amazingly, got my Fed refund on 3/11 (contrasted with a 4-month delay last year!). When I checked on my Mi refund, it says "under review." TT said my audit risk is...
1
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2 years ago
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How to Address H&R Block About "Mistake" on 2020 Taxes
-- About a year ago a low income client went to H&R Block to have her taxes done. -- The client turned 65 in February, 2020. -- The client was Head of Household, supporting her elderly mother. -- The...
4
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2 years ago
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EIP 3 and medical deductions
Helping 66 year old neighbor with taxes again this year. (Blind leading the blind). Using . He received two stimulus checks in 2021. The website says he is entitled to a third payment of $1400 because...
2
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2 years ago
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2 | |
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Excess 401(k) Contribution
A worker with two jobs overcontributed his 401(k)s by $5,000. He did this intentionally because his employers matched his contributions. How is this treated? I imagine the $5,000 will be taxed as...
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2 years ago
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