Latest threads in Taxes General Forumshow only best voted threads
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Form 5329 Question
Sorry, another question came up. My Dads accountant retired and the guy they handed his account to never filed a 5329. Not that I'd want to bore you w/ detail but when I asked him if he ever filed a...
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12 years ago
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CCH Tax News Headlines - May 24, 2011
CCH Tax News Headlines - May 24, 2011 Federal Headlines: 5/24/2011 - _Administrative Record from Remand Hearing Admitted into Evidence; Notice of Federal Tax Lien Properly Refiled (Hoyle, TC)_ (...
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12 years ago
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Using up capital losses
I have a substantial capital loss carry forward. I will be starting a new business that should generate good income. What might be the best form of company, LLC, Corporation, etc. that will allow...
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12 years ago
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QPRI, COD - bedroom rental
COD = cancellation of debt QPRI = qualified principal residence indebtedness Facts: Taxpayer has a principal residence (for QPRI exclusion of COD income, does not have to meet the same 2-of-5 year...
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12 years ago
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Establishing A Florida Domicile
Connecticut (Dan Malloy) has recently passed Incredible new taxes (with far less than expected labor concessions). I am now most interested in moving to Florida for 6 months of the year. I want to...
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12 years ago
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2011 Limit on Tax Free Gifts
Hi: Can someone please tell me the Tax limit for: a. A gift by my wife and myself to our son b. A gift by my wife and myself to my daughter in law c. A gift to son and daughter in law jointly. In...
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12 years ago
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Cost Basis--FIFO vs LIFO
I understand shareholders can calculate their cost basis based on ether the FIFO or LIFO methods. On my latest brokerage statement I noticed that the gain on a recent stock transaction was calculated...
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12 years ago
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What do I do about offsetting error on my 2008 return?
I did not owe any tax in 2008, but made two pretty large errors on my return. I entered a capital gain incorrectly and I misclassified a tax exempt bond. The two are roughly the same size in opposite...
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12 years ago
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CCH Tax News Headlines - May 19, 2011
CCH Tax News Headlines - May 19, 2011 Federal Headlines: 5/19/2011 - _Gang of Six Falters as Coburn Quits (TDNR TG-1179)_ ( 5/19/2011 - _Third-Party Settlement Organizations' Payments Not Subject to...
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12 years ago
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No joy filing 990-N epostcard
Tiny nonprofits that don't have a 990/990-EZ filing requirement do have a filing requirement on 990-N, which can be filed electronically only. This is supposed to be a minor return to file, taking...
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12 years ago
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Stapling Redux
How do we attach the various forms in a 1040 return? I have been doing my own tax returns for over fifty years. I vaguely remember that the pages should not be stapled. I always sent them in loose,...
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12 years ago
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Messed up RMD and rollovewr for 2010
My dad's RMD for 2010 was 20k. He took out 17k from his IRA, Then in October of 2010 he took out another 17k, but this time he said oh crap wrong account and put it back 5 days later. His 1099-R comes...
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12 years ago
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Had to recharacterize my Roth Conversion; how long to try again?
Although my IRA went up after I converted to a Roth, it put me into AMT and the tax rate was horrible; so I had to recharacterize it all. Do I have to wait to do it again?
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12 years ago
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CCH Tax News Headlines - May 17, 2011
CCH Tax News Headlines - May 17, 2011 Federal Headlines: 5/17/2011 - _IRS Announces Interest Rates Unchanged for Calendar Quarter Beginning July 1, 2011 (IR-2011-53; Rev. Rul. 2011-12)_ ( 5/17/2011 -...
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12 years ago
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HELOC Deductibility
I owned a home that had no mortgage but had a home equity line of credit. I converted it to a rental property about two years ago. The line of credit total amount is $100,000, of which at present only...
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12 years ago
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