Latest threads in Taxes General Forumshow only best voted threads
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Strange Calif Tax methods?
I'm retired and yesterday I prepared my 2010 taxes using H&R Block Deluxe (old Tax Cut) - there were no errors or problems detected on either Calif or IRS forms. CA calculated 2011 EST taxes to be a...
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13 years ago
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Can I ignore line 6 of Form 8606 ?
Line 6 asks to "Enter the total value of all your traditional, SEP, and SIMPLE IRAs as of December 31, 2010, plus any outstanding rollovers." I dont understand why they are asking for SEP, since all...
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13 years ago
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Empty rental property that I sold, need to file Schedule E?
My rental property was empty in 2010 and sold in August '10 . Can I just lump all my expenses when I file Form 4797 ? Or I do have to also file a Schedule E ?
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13 years ago
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Form 1139
Form 1139 asks which Service Center Form 1120 was filed at. If it were paper filed it would go to Ogden, UT, but it was e-filed. My software lists Ogden as one of the choices and does NOT list the...
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13 years ago
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Tax implications - Converting a rental house into a primary residence.
Need input on tax implications for converting rental house into primary residence. Facts Example: Owner has owned rental house since Nov 1999 and since then has rented the house until January 1, 2010....
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13 years ago
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Inherited installment obligation.
In pub 537 it says that if you inherit an installment obligation it is taxed the same as it was for the seller. However; when you inherit property, the basis of the inherited property is the FMV on...
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13 years ago
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Home Office Deduction Split Between Homes
This is for an article I'm writing. I can't find any guidance: Consider a freelancer who is fully entitled to a home office deduction--he has a separate room in his New York house he uses exclusively...
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13 years ago
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Taxpayer Claiming Married Child as Dependent
I have received an e-file reject code of 509 sequence 175 on a return I am filing for the taxpayer I'll call (T). I called the IRS e-file help desk, and they tell me(T) must paper file the return with...
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13 years ago
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form 5329
Which section of the IRC imposes form 5329? In particular the tax on excess Roth contributions.
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13 years ago
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accounting year for estate
Suppose date of death was August/2010. When applying for an EIN number they ask for accounting year. If you enter December, then will have the estate have to file a 1041 for year 2010? If you enter...
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13 years ago
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Capital Loss Carryover Worksheet
In the publications on the IRS web site, the worksheet in Publication 550 speaks about carrying losses forward from 2010 to 2011. However, the instructions for Form 1040 Schedule D give the...
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13 years ago
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capital loss carry-forward
I think there was another post on this recently but I can't find it, so my apologies if this is rehashing a recent discussion. I'm doing my son's taxes. He has about $150 in carry-forward losses from...
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13 years ago
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How to handle Cash Liquidation Distribution
I bought a stock in 2002. Paid $2000. The company closed its doors in 2003 and liquidated its assets to the shareholders. I received $2500, and treated this as a "sale" (since the company was out of...
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13 years ago
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Turbotax Statistics
Sorry to ask thus question here but TurboTax Extensive Help does not. At one point in filling data into TurboTax I got to see a screen where my data was compared to similar entries averaged over all...
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13 years ago
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Individual unable to sign tax return
Client is single and not able to sign her tax return because of physical disability resulting from a stroke. Is it ok to have her son (who has a valid power of attorney for her) sign the return and...
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13 years ago
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