Latest threads in Taxes General Forumshow only best voted threads
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Claiming a dependent
My 21 yr old son was pretty much independent in 2015. I paid only for his health insurance. Question 1. He ask me, do I claim dependent or independent? 2016 will be a little different, he's back in...
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8 years ago
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Contribute to a Roth; Then Take Distribution; All To Get Form 1040 Credit?
Can a lower income client (say about $15,000 of Sch C reported net income in 2015) open a Roth IRA right now; contribute say $1000 to it; claim the Form 1040 Retirement Savings Contribution Credit of...
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8 years ago
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Child Support
nephew's son lives with him for past 3 years, nephew claims him as a dependent, son's mother is paying full cost of college now, she wants to claim his dependency since she spends more on him and take...
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8 years ago
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Is an engagement ring subject to gift tax?
The bazillion dollar engagement ring given to Mariah Carey got me to wondering if there would be tax on the gift. One argument is that they are not married so there is no spousal exclusion and the...
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8 years ago
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Can I correct excessive state tax deduction?
I made an excessive state tax estimated payment at the end of 2014. My income is highly variable, and I had a very high income in 2014. In December 2014 I realized I had underpaid my state estimates,...
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8 years ago
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Is there a way to correct excessive state tax deduction taken?
At the end of 2014, I realized I missed some state estimated payments. My yearly income is highly variable and 2014 was a huge year. So I paid an estimate that I knew would easily cover my state...
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8 years ago
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Form 1099-MISC 2015
Received first Form 1099-MISC 2015 for Indian Gaming Casino with disclosure attachment: For all 1040s completed for Minors with at least one living parent as of December 31st of the Tax Year, Box 6(d)...
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8 years ago
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1099 But Not Income
I received a 1099 for $6600 from American Express. The backstory is that they sent me a refund check for $1600 which was stolen, forged, and cashed. They badly mishandled the incident (by, for...
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8 years ago
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1031 exchange of real property used in a business operation
A family (now a variety of cousins) owns real property and a long established lodging business using the property, run by a subset of the cousins on behalf of all property owners equally (they take...
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8 years ago
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Filing tax in 2 states
I moved to CA from MA in June of 2015. I work for the same company. I actually left MA on June 12, drove across country and got to CA on June 19. I saw somewhere that if you in one state for more than...
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8 years ago
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Real estate refund; what do I do with it.
NYS send me a check, saying my real estate tax was in excess of the allowed tax cap. It does not say which tax, which property, or even what year it is for. Does it matter? I am guessing I just reduce...
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8 years ago
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Credit Card From Offshore Institution
If I get a credit card from an overseas institution, do I have to report it on IRS form 8938 or the FBAR? The credit card would be for personal use when I travel to Europe. Thanks.
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8 years ago
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Medical mileage
A question just came up that I'm curious about. The medical mileage deduction is less than the standard mileage deduction. But to whom does this apply? For example if someone is an Uber driver and...
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8 years ago
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Vehicle Expenses (Uber)
I drive for Uber, and I will take the standard mileage allowance. I have a second car, so I use this car only for Uber. Are there any other expenses that can be deducted? For example, casualty losses,...
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8 years ago
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importing last year's turbo tax into a professional's tax software
After decades of doing my own taxes, I am just not well enough to do it this year,so have hired a local cpa. I will be charged for (a lot of, I suspect) data entry to get all the year to year carry...
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8 years ago
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