Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
bona fide resident in form 255
BEGIN QUOTE 13a Have you submitted a statement to the authorities of the foreign country where you claim bona fide residence that you are not a resident of that country? See instructions . . . . . . ....
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Confusing Filing Status
Woman is separated from her husband and they have lived apart for nearly 3 years. He lives in NY; she lives in VA. Since late 2008, they have a signed agreement under which he sends her maintenance...
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3
 
IRC 266
This is IRC 266. in plain English, for personal property they allow you to add the following to the cost basis for personal property (section iii): (a) Taxes you pay an employee to fix up your home....
 
Bad Debt - Schedule D - Uncollected or Worthless Loan
I have a loan I made in Dec. 2005 in the amount of $8,500. There is a signed, notarized loan document. $8,000 remains unpaid. I obtained legal services some time ago to pursue the debt. The court...
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"Long-time resident" qualifying for First-Time Homebuyer Credit
Have a client that was turned down for this credit. The IRS stated that because the new house (mobile home) they purchased occupies the same lot as their previous main home, they do not qualify for...
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how to file a final Schedule C
If you have a one-person LLC you may file a Schedule C instead of 1065, provided the LLC has not elected to be taxed as a corporation. On 1065 you can mark the return is final. You can do the same on...
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Any requirement to claim itemized deductions?
I apologize in advance for asking this because I could have sworn it's been pretty recently discussed here, but my google-fu is apparently weak and I can't find the discussion. I know that for...
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Receiving donations
Question: is a donation to a Schedule C business a non-taxable gift? My Web site is a mix. There is shareware that I sell, and there are informational articles that I offer as a public service (which...
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A Tax Poem
While identity of the author of this poem is unknown, it may well be the Bible of the House Ways & Means Committee. Tax his land, tax his bed, Tax the table at which he's fed. Tax his tractor, tax his...
 
Federal treatment of state income tax credit for RE tax paid?
MA has what is called "the senior Circuit Breaker credit". It is available to homeowners or renters 65 or over and is computed as follows: 1) Various things are added back to MA AGI to get MA "total...
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Withholding Question
A young relative just received his W-2 after much hassle with his employer, a retail chain with stores in many states. There was only $112 withheld for the year. He gets only a paycheck, not a paystub...
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State taxability of IRS interest on federal refunds?
If the IRS pays a taxpayer interest on a federal refund, is said interest excluded from state tax like interest on Treasuries and savings bonds (since the interest is being paid by the US govt)? Or is...
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8
 
Amending federal and California return
I e-filed my 2010 federal return couple of weeks back and even got my refund deposited. I had not filed my 2010 California return, as it needed to be paper filed. Couple of days back, I discovered...
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real estate investment
We have a house purchased in 2005. We've never lived in the house, but our wife's parents lived in it for a while. After the parents moved out in 2007 we decided to remodel the place and eventually...
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CCH Analysis of HR 4 Repeal of the Onerous 1099 Reporting Requirements
Congress passed HR 4 and the President said he will sign it. Text: CCH Analysis: http://goo.gl/ruLQl http://goo.gl/cPBmn...