Latest threads in Taxes General Forumshow only best voted threads
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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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Tax Treatment in 50-50 Custody Case
My son is going through a divorce, and he and his wife have one minor child. The lawyers are telling them that because they live in a 50-50 custody state, the normal approach when you have one child...
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7 months ago
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How to split income from joint accounts and revocalble living trust accounts when married filing separately
We are in Massachusetts and will be MFS on the state return. The revocable living trust has us both co-trustees. Do we allocate income by SSN on the 1099? Do we allocate 50-50? Is there some other...
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7 months ago
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1031 Holding Period
When doing a 1031 exchange, the basis of the original property transfers to the new property. But does the holding period also transfer over? A client has done a 1031 exchange, and then wants to sell...
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7 months ago
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Investment Energy Credit
Hi All - The question came up as to whether the investment energy credit applies to rental real estate. It should, but I haven't been able to find any specific authority. Can you help? Thanks.
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8 months ago
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IRA Issue... Or Not
I am 75 years old, retired. My income consists of divd/interest, SS, pensions. I have assorted trad. IRA accounts including a substantial self-directed one with TD Ameritrade (TDA). I take all my RMDs...
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8 months ago
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Filing the 990-N
After the discussion with Stan, I remembered to file the 990-N for an organization I'm responsible for with a June year end. I was able to find last year's credentials, but they no longer work. Use...
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8 months ago
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S-corporation Shareholders
I have a question about how to report wages for S-corporation shareholders. I know that the (reasonable) wages portion of their compensation is subject to withholding taxes. But does that mean they...
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8 months ago
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Is this life estate taxable?
Mister M was a member of the Jehovah Witness Governing Body. He was one of ten in that most senior position. In February, it was announced that he was no longer a member of that group. Was he fired?...
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8 months ago
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3520-A page 4 => where on 1040?
Report each item on the proper form or schedule of your tax return. So, what are the proper places to report those numbers? The ones I care most about are the expenses (lines 9 to 14). 10a Foreign...
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9 months ago
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IRA's in a Trust
Confirming information from a conversation I had with an estate attorney today. This concerns IRA's that my brother and I (separately of course) want to leave to family members who might be either too...
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9 months ago
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EFTPS F941 Deposit to wrong Quarter
I deposited funds to Q1 which were supposed to be for Q2. I figured this out when filing the F941 for Q2. I did not indicate that there was an over-payment on the Q1 F941 since this additional deposit...
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9 months ago
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Amortization versus depreciation
I was reading through a document that referenced an old FCC ruling with regard to ordering telephone companies to abandon claims of ownership of inside wiring and how the abandoned wire became owned...
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9 months ago
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Qualified Business Income Deduction
Business is run through an S-corporation. The owner wants to take the QBI deduction and asks if the salary portion of his compensation is deducted to determine QBI. I haven't been able to find an...
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9 months ago
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