Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
I thought I have been contributing to Roth IRA for past 3 years, but I was actually contributing to Traditional IRA. How can I fix this?
Hi, I have been contributing my after-tax income to Traditional IRA instead of Roth IRA for past 3 years without knowing. 2012: After tax income $1000 into Traditional IRA 2013: After tax income $5500...
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Form 1095-A and Automated Tax software
I notice a problem with the way both Tax Act and Turbo Tax are processing the form 1095-A for people who get health insurance through the Marketplace. I recently did a dry run on my 2015 taxes using...
 
inheritance vs. jtwrs
My mother bought 100 shares of a mutual fund for $1000 ($10 per share). contributed nothing. I am listed as a joint tenant (JT TEN) (I assume with right of survivorship, at least that was the intent)....
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Medicare Part B and Part D surcharge
A single person age 77 had a MAGI of 204,000 in 2014 because he withdrew $150,000 from his IRA. $110,000 of that was gifted to his sons who were in financial trouble and the rest went for FIT. Would...
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FEIN and 1041 for Sec. 678 Trust?
Thank you for any help here. The situations detailed below haven't come up yet for us, but they're in the offing. I know how things were done thirty-odd years ago when I was in the business but they...
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Is Retainer Deposit Always Income When Received for Cash Basic Company?
I am a consultant and operate a small Cash Basis company. I received a retainer deposit from a client for work that was to be done in 2015, but has now been delayed to 2016, with the a strong...
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Problem with TaxAct software?
In doing a dry run on my taxes for 2015, I ran into a problem using the TaxAct preview software for 2015. I get my health insurance through the Marketplace which means I have to enter data from the...
 
Rent from a live-in boyfriend , no mortgage on property
So I am probably going to be moving in with my girlfriend soon, and she owns a home clear and free but I will probably pay her "rent" anyway, until possibly we get married. Anyway, I know it's...
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Turbo tax Deluxe
Am I right that Intuit has restored all the Schedule D and other functionality that caused such a outcry last year because we had to upgrade to Premier to the Deluxe version? Reading the blurb on...
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If one never files taxes
I worked with a guy for years who never filed a tax return. We worked for a rather large company and I always figured my deductions so that I would get a small amount back from the fed each year. My...
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Employer HSA Contributions for Non-Eligible Employee
Next year, my employer is offering an HSA-compatible HDHP with no employee premium, a $5,400 deductible and a $4,400 HSA contribution. My wife's employer is offering a Kaiser plan with no employee...
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Reshingling a (very) old roof repair or improvement?
A relative (really :) got a letter from his home insurance carrier demanding that substantial section (around half) of the roof be reshingled or else coverage would be cancelled. The last time that...
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gambling winnings
It used to be on slot machine winnings that each time you won $1200 or more on a single pull a W2G would be issued by casino. Any losses would have to be deducted on Sched. A, thus not a net win on...
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Question: 1031 exchange
Question: 1031 exchange I have a town home. If I sold it and invested the proceeds in Real Estate First Trust Deeds would it qualify as an 1031 exchange?
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Residential landlords and Form 6251
I just came across this in the instructions for Form 1040, line 45: Exception. Fill in Form 6251 instead of using the worksheet if you claimed or received any of the following items. ... * Income or...
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