Latest threads in Taxes General Forumshow only best voted threads
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New conversion to Roth after recharacterization
Three situations: (A) T converts the entire amount of traditional IRA to Roth in 2010; recharacterizes a portion in October 2011. As I understand the Section 408A rules, T may not do another...
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12 years ago
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Former nanny now babysits; must still pay payroll taxes?
We let our nanny go early in summer 2011. I paid all the taxes---UI, federal payroll taxes. Now she babysits for us on an ad hoc basis. Do I still have to pay payroll taxes? (I'm not asking about UI...
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12 years ago
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Putting Children On Payroll In Rental Business
I have heard that a tax saving idea is to put children on payroll in a rental business and pay them up to an amount where they will not owe any income tax. In return, they can perform record keeping...
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12 years ago
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First time preparing taxes this season and need advice
I want to prepare taxes this upcoming season. I am going to be doing this for the first time and really have no experience beside filing my own basic return for a couple years. I have an undergraduate...
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12 years ago
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used 2009 form on 2010 1040X - need to re-amend?
I was completing a 1040X for tax years 2009 and 2010. Somehow I used a 2009 Schedule C (with 2010 figures) for the 2010 1040X. I did not notice this until after I mailed the forms about two weeks ago....
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12 years ago
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Preparing for Taxes on Roth Conversion
I did a Roth conversion last year when the income limit was removed. I elected to spread the conversion over 2011 and 2012. The additional income will be about $10k per year. Is there anything I...
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12 years ago
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Library donations
Hello, Are donations (by check, less than $250) to municipal public libraries generally deductible as "charitable" donations on Form 1040, Sch-A, Line 16?
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12 years ago
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CCH Tax News Headlines - September 19, 2011
CCH Tax News Headlines - September 19, 2011 Federal Headlines: 9/19/2011 - _Certain Requirements for Low-Income Housing Credit Projects Suspended to Provide Disaster Relief in Vermont (Notice...
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12 years ago
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rental loss to related person
Scenario: Grandfather sells his cooperative apartment to grandson who leases it back to grandfather for the amount of monthly cash expenses, namely the co-op monthly assessment of $2,000. There isn't...
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12 years ago
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How to Report Income from Lease Option to Buy
My son has recently entered into a lease/option to buy his condo for 12 months. Half the rental income is to be credited towards the purchase. Is the full amount of the rent reported on Schedule E...
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12 years ago
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Barter or not barter?
Suppose you send out a tweet to all your friends: "Need help loading moving truck. Free pizza and beer for all volunteers. Call me." Five or six friends show up, help you load your truck, and eat your...
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12 years ago
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Are CA DMV fees / taxes deductible any more?
I used to see an item on Schedule A of the IRS tax return before (2008) ..where I used to list the DMV fees paid. This line appears to have disappeared on Sch A. There is no longer a line called...
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12 years ago
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Call assignments and specific ID
I own shares of XYZ (with a decent unrealized gain). I also have a call spread on XYZ. It occured to me to consider what happens if for whatever reason I can't unwind the spread before expiry and both...
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12 years ago
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CCH Tax News Headlines - September 16, 2011
CCH Tax News Headlines - September 16, 2011 Federal Headlines: 9/16/2011 - _Senate Passes "Clean" FAA Extension_ ( 9/16/2011 - _Proposed Regulations Modify Definitions of Swaps and Notional Principal...
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12 years ago
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CH Tax News Headlines - September 15, 2011
CH Tax News Headlines - September 15, 2011 Federal Headlines: 9/15/2011 - _Filing, Payment Deadlines Extended for Victims of Hurricane Irene and Tropical Storm Lee in Pennsylvania and New York (NY...
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12 years ago
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