Latest threads in Taxes General Forumshow only best voted threads
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Head of household
Alan is divorced and the son he supports lives with him. He files as HOH. Beth is divorced and lives and supports her daughter (dad is a deadbeat). She files as HOH. Alan and Beth meet and then...
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5 months ago
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any way to avoid tax on cash value life insurance?
I plan to cancel my cash value universal life insurance policy which I have held for about 20 years. The cash value fund has about 100k, and about 15k of that is "available for taxable withdrawal" per...
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5 months ago
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Roth IRA loan
Can one Roth IRA lend money to another Roth IRA (so it can buy an investment)? One person told me that if an IRA gets money as a loan to buy an investment in the UK, then when that investment has...
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5 months ago
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Can the fees paid to transfer title on homes be added to cost basis?
A person is changing the title on his home from an individual name to a revocable trust. To do that, he has to pay the Managing Agent a fee and also legal fees for the HOA's Lawyer's legal fees. There...
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5 months ago
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UK taxes and USA IRA
If my USA IRA makes an investment in the UK, and the UK withholds income taxes on that investment, can those UK taxes be used on my 1040 form 1116 to offset my USA income taxes? I believe that there...
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5 months ago
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How To Issue A 1099
I have to issue a 1099 this year from my small business, for the first time in a zillion years. I Googled it, but most of the sites took me in circles, and some seemed to be trolling me to sign up for...
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5 months ago
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Curiosity about AFR implications for student loans from family member
I have some questions about student loans from family members. They are more curiosities, since they do not affect me directly. I stumbled into them while trying to help someone with Excel questions....
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5 months ago
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Revenue Ruling 2023-2
I thought this was pretty ho-hum, the IRS just stating what has been known for years. But then I read this article: still think these people are grasping at straws, especially since the Revenue Ruling...
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5 months ago
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Cost Basis of Stock Removed from Company Retirement Plan
In 2008, nine years after retirement, I removed my assets from my prior employers retirement plan. Most of the assets were rolled over tax-free into an IRA but the company stock was transferred to me....
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6 months ago
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Reporting foreign asset
Two years ago, I lent money to a foreign builder (so a foreign asset). At the start of last year, I still owned that foreign asset. During last year, I gifted that asset to a foreign grantor trust....
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6 months ago
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Unfiled US Taxes for US citizen residing in Australia
My daughter filed US taxes up to and including 2007. I have those records. She hasn't filed any US returns had significant SS earnings for 15 - 20 years up to that year. She moved to Australia and got...
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6 months ago
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Capital Gains?
Single family home inherited in 2013. Value $230K, per Zillow, Red Fin, etc. Home held by beneficiary from 2013 - 2022, and put into service as an AirBnB/VRBO short-term rental from 2014 - 2023. Did...
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6 months ago
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Re: Gift-Installment Sale (Is it taxable?)
My question with this situation is aside from having to pay tax on the gain, would a gift tax need to be paid too?
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7 months ago
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Online Tax Prep Companies Shared Taxpayer Personal Data With Meta and Google
The article sems to say that only data from online tax prep sites had been shared, so perhaps this issues does not impact tax softyware that is downloaded and used on a computer
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7 months ago
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Change of country
I own stock of a pre-IPO company that was registered in Belize (for years) until January XX, 2022. On January XX, 2022, it changed to a Delaware USA company. I am trying to find out the value of XX....
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7 months ago
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