Latest threads in Taxes General Forumshow only best voted threads
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NYS' eFile Mandate
According to NYS' web site: Partnerships must e-file if they meet all three of these conditions: Prepare tax documents themselves, without the assistance of a tax professional; Use approved e-file tax...
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12 years ago
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Withheld FICA and Medicare for babysitter, didn't have to
I withheld FICA and Medicare from the paycheck of our babysitter last year. Looking back at our records for last year, it turns out we paid her just under $1,700 for the entire year (no, we aren't...
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12 years ago
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ESPP holding period: is it "two years" or "more than two years"?
My company has categorized as a disqualifying disposition the sale of some ESPP shares which I executed two years to the day after the grant date. I.e., the grant date was 12/1/2009, and I executed...
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12 years ago
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how to report non-profit memberships
how & where do we report our memberships with non-profit organizations ? ie - local botanical gardens, art institute, museums, PBS, etc -
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12 years ago
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Rental deduction
I have a home in PA that was my primary home until July 2010. I moved to CA and now live in an apartment. For 2011, my home in PA was rented for 6 months. Then it was vacant for 5 months at which...
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12 years ago
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Question on Form 1099-Q
My daughter finished her first semester at the end of 2011, and is living in an off-campus apartment. I have the fully funded 4-year prepaid tuition 529 plan with my state of Maryland. My daughter has...
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12 years ago
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Foreign Tax Credit
I have a foreign tax credit from a Vanguard Mutual fund of 654. That's just over the limit of 600. I use HR Block At Home (aka Taxcut) Deluxe and the program seems to be just ignoring the credit! Can...
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12 years ago
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Dependency Exemption for Qualified Relative
I have one for which I cannot quickly find an answer and I'm hoping the learned pros here can point me in the right directly. I have a client who's 22 year old daughter took a year off from school for...
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12 years ago
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Taking Investment Expenses
Apparently investment expenses are taken on Schedule A as a Miscellaneous Itemized Deduction, and if you are under AMT you lose them? If you declare yourself to be a "trader" then you have to mark to...
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12 years ago
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1065/8825 questions
Folks, We have a rental unit as the only source of income in our partnership. I was working on my 1065 and had the following questions: . Item G : I need to fill if this is an initial return or final...
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12 years ago
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social security tax addback for high income earners
Does anyone know how the social security tax addback for high income earners works? As you know, for Jan and Feb everyone only withholds 4.2% social security tax. But if you make a lot you have to pay...
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12 years ago
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allowed contributions to Simple IRA & Roth?
The rule for Simple IRA is my contribution for SIMPLE must not exceed my net self-employment income. But it is unclear to me if a Roth contribution can be made if I make a Simple contribution that is...
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12 years ago
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Fidelity refusing to use "Q" code for qualified Roth distributions
An FYI... My mother is over age 59.5 and in 2011 took a distribution from a Roth IRA transferred to Fidelity in 2005 (the account itself originated a Schwab in 1998). The 1099-R code was "T" and not...
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12 years ago
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CD interest on joint account, death in family
My mom passed away end of 2011. She and I have a joint CD (5 year) that matures in 2015. She did not report taxes last 2 years of her life due to living below poverty level and very small Social...
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12 years ago
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new 8949 vs 1099-B
Was just reading this article about the changes for reporting stock... of the things I've known about is the newly mandated reporting of cost basis. Since I haven't received my 1099 or 8949 from...
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12 years ago
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