Latest threads in Taxes General Forumshow only best voted threads
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Missed RSU basis reporting change - should I amend?
I just discovered that Fidelity changed the way that they report my restricted stock unit (RSU) sales in 2014. For 2013 (the 1099-B issued in early 2014), included the cost basis of the shares that...
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8 years ago
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Selling a stock
For tax purposes, is the transaction complete when the trade occurs or when it settles. Thinking about selling a stock and was wondering if it would show up this year or next.
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8 years ago
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Timing of Solar Installation
I'm putting solar panels on my house. If I pay the installer before the end of 2015, can I claim the credit on my 2015 taxes, even though the work is not yet complete? Honestly, the work will not have...
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8 years ago
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Converting rental property back to primary residence... and then selling under capital gains exclusion
I have a condo that has been rented out for 4 years. I originally lived in the condo for 3 years. I now want to move back in for 2 years to make it my primary residence and then sell under the capital...
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8 years ago
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proceeds from house sold in estate?
My MIL died 18 months ago. Her estate consisted on a bank account joint with my wife, a bank account joint with my BIL, and a house; a total of $200,000. The lawyer told them to take the money in...
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8 years ago
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Inherited art work basis
My sister and I inherited art work from my father's estate almost 15 years ago. It was appraised by an art dealer at the time for quite high values, we thought, since these were not Picassos, but be...
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8 years ago
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stock options questions
OK, I dabble in weekly options. I have two very similar questions: 1) I sell calls that expire on 12/31. Say they expire worthless on the 31st. So, I have a gain. Am I correct that the gain is...
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8 years ago
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Gifts and IRS Forms
If my wife and I want to give my son $20,000 from a joint checking account can we write two checks and not have to use a Form 709, Gift Tax Return?
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8 years ago
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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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8 years ago
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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...
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8 years ago
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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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8 years ago
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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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8 years ago
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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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8 years ago
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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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8 years ago
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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...
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8 years ago
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