Latest threads in Taxes General Forumshow only best voted threads
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Insurance Disbursment
Is anyone aware of an IRS code that requires mortgage company to report insurance payments to subcontractors to the IRS. A little back ground. I'm in the process of making repairs to my home that was...
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7 years ago
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Deductibility of Seller Concession for Repairs on Partial Rental Sale
Correction - in previous post, it should state that SELLER agreed to provide a seller's concession credit
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7 years ago
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ROTH DISTR Disability
Aunt took an early ROTH Distribution, 2/1/16 and then in Aug. 2016, went on SSDI, would she eligible for the 10% penalty exemption for being disabled but not for whole year? All other qualifiers are...
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7 years ago
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OOPS -- mistake contributing to Roth IRA
A few days ago, I put $1100 into my Roth IRA. This is within my 2016 contribution limits. But I forgot that contributing that $1100 to my Roth instead of my traditional IRA means another $800 of my...
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7 years ago
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ACA SUBSIDY
purchased medical ins. through marketplace in NY. the premium was subsidized. ins. was cancelled as txpyr went on Medicare in July. Txpr will receive a large gift (in dollars) from mother in December....
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7 years ago
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Car Purchase
Let me fitrst say, I am not usre this is the "correct" forum, to pose my car purchase question? Alas I am unaware of another, more apt forum! We will soon be relocating to Florida (thus no longer...
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7 years ago
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Solo 401k question
Can a freelancer set up more than one self-directed 401k at different brokers?
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7 years ago
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Legitimate Expenses for Irrevocable Trust
Once an irrevocable US trust is created, what are legitimate expenses that can be charged by the trustee against the income of the trust? If the grantor remains a trustee, can she cover her travel...
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7 years ago
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Federak taxes in US territories
While looking at some stats on Powerball, I found that Puerto Rico residents do not have to pay US income tax on lottery winnings. WTF??? After doing a bit of googling, it seems that PR residents do...
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7 years ago
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Bad debt exactly the same as a short term capital loss?
I just read Topic 453 - Bad Debt Deduction; but have some questions. I lent money to someone several years ago and it just definitively became worth nothing. (there was some collateral that took some...
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7 years ago
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Need Confirmation On Maximizing Retirement Plan Contributions.
Sole employee (over the age of 50) of a professional service corporation (C Corp.) with more than enough income, has the company contribute the maximum of $53000 to a SEP-IRA. Corporation deducts the...
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7 years ago
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section 1231 loss carryforward - offset vs. regular capital gains?
I have someone who had a Sec 1231 loss in 2013, shown on Form 4797. Even without the loss, they would have paid no taxes as they would have still had no taxable income on line 43. So it seems to me...
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7 years ago
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Inheritance and Health insurance subsidies
My daughter is working part time and going back to school and thus qualifies for rather hefty subsidies under Affordable Care Act. She is about to get an inheritance of $16,000-20,000 and was...
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7 years ago
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non compliant IRA contributions
If a deductible spousal IRA was made on previous 3 years of returns and no earned income was reported on tax forms, how should the error be corrected. The IRS has not caught the infraction yet and the...
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7 years ago
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GoFundMe
I've noticed a lot of people using the GoFundMe site to raise money for various purposes. I've always assumed that _unless_ the entity soliciting the donations is a recognized charitable organization,...
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7 years ago
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