Latest threads in Taxes General Forumshow only best voted threads
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Illinois experts: nonresident with an IL NOL
Client is in a couple of partnerships that have Illinois activities. The IL source income is a loss. Does the client have to file an IL return each year to keep the NOL just in case the activities...
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13 years ago
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CCH Tax News Headlines - March 28, 2011
CCH Tax News Headlines - March 28, 2011 Federal Headlines: 3/28/2011 - _Weekly Report from Washington, D.C._ ( 3/28/2011 - _Geithner Calls for Enhanced Research Tax Credit as Part of Corporate Tax...
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13 years ago
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2010 Schedule SE, Health Insurance, two Schedule C's
Hi everyone. Taxpayer is married filing jointly. Both spouses have schedule C income, one income being above the $106,800 social security ceiling. TP historically takes the adjustment to income for...
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13 years ago
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Foreign Earned Income Exclusion
If one stops taking the foreign earned income exclusion without enclosing a note that this is being done, need an amended income tax return for the year be sent? Obviously there is no change in any of...
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13 years ago
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Does a partnership automatically terminates when there is only one owner left?
A partnership started the year with 2 partners. One partner buy out the other on 6/30/3010. Does the partnership terminates at that point ? TIA
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13 years ago
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Foreign inheritance
According to one of the threads in this group, a gift or inheritance from a foreign person to a U.S. person is not taxable to the receiver. My question is what happens in a case where a resident alien...
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13 years ago
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Revocable Trust with an EIN. Who pays the tax?
A revocable trust was set up with an EIN. I understand it should have been set up with a SS# to flow back to the tax payer. How should the income be filed? Can I some how flow it back to the tax...
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13 years ago
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Ohio Source Income
We had a TCE client yesterday who is a MD resident and the sole beneficiary of a testamentary trust managed in Ohio. The income is all from interest and annuities and is all paid out to the...
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13 years ago
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NYS Non-Res K1 question
I received a NY Schedule K1 equivalent resulting from the income tax on my mother's estate. She was a NYS resident, but neither I nor the other trustees/beneficiaries are. There was no NYS taxable...
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13 years ago
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Donating Appreciated Stock
I read a comment by an investor today who said: "I purchased 1,000 shares on Jan. 14, 2009, for $4,255; 1,000 shares on Jan. 15, 2009, for $4,005; and 2,000 shares on March 17, 2009, for $5,005. I...
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13 years ago
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Amending 1040 too soon?
I e-filed my tax return on 3/12/11 and it was accepted the next day. After I filed, I realized that I left off a charitable contribution to United Way in the amount of $1100.00. It's an automatic...
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13 years ago
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Form 1099-S
Does one get an inheritance by way of a 1099-S? And does the amount on a 1099-s *have* to end up on the tax return? If so, it seems to violate the concept that inheritance is not taxable. Yes, I know,...
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13 years ago
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Runner
Runner made prior year $1000, I figured it was a prize, not subject to self-employment tax. This year, runner won 4 prizes, totalling about $20,000 (several states). It's starting to smell like S/E...
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13 years ago
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CCH Tax News Headlines - March 25, 2011
CCH Tax News Headlines - March 25, 2011 Federal Headlines: 3/25/2011 - _Passive Losses Disallowed as Taxpayer Was Not Real Estate Professional: Negligence Penalty Imposed (Anyika, TCM)_ ( 3/25/2011 -...
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13 years ago
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CCH Tax News Headlines - March 24, 2011
CCH Tax News Headlines - March 24, 2011 Federal Headlines: 3/24/2011 - _Rules Relating to Qualifying Advanced Coal Project Program and Qualifying Gasification Project Program Updated (Notice 2011-24)_...
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13 years ago
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