Best Rated threads in Taxes General Forumshow all threads
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Can I instruct my broker to withhold tax?
I want to have my broker (Schwab) withhold federal income tax on dividends, capital gains and distributions but they say they have no mechanism for doing so. So why, then, is there a ?federal income...
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13 years ago
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10 | |
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Any credible 2020 tax software for Win7? (standalone, not online)
Sigh, TurboTax has chosen not to support Win7 for tax year 2020. It will not even install. This is a subjective decision, based on "security concerns". I did call tech support, and they said there is...
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3 years ago
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9 | |
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Does Uber Income Affect Unemployment Eligibility?
A person in NJ employed by a NJ company and making $1700 per week is laid off. In NJ, he is eligible for $636 a week in unemployment benefits from the state. While looking for a new job, he drives for...
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7 years ago
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Can I go ahead and file my 1040 with a missing k1
I am self employed sole proprietor and do my own 1040 and related forms thru Turbo Tax and they are all done and all ready to be filed but I also have second business thats a general partnership and...
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14 years ago
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Are books for work tax deductible?
I'm a Software Engineer, and use computer related books at work. I also have a Safari account at which is on online digital library, which I use at work. Are the books and or Safari account tax...
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15 years ago
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I cosigned my son's student loans. Did I provide this support or did he?
Hi, My son was a full-time college student during 2008 and was under the age of 24 at the end of 2008. His expenses for 2008 were $24000 for education expenses, $10000 for rent and utilities, $4000...
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15 years ago
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7 | |
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Individual 401(k) in LLC - how to book and report on 1065?
An LLC is held jointly by a married couple. One of the spouses is a active partner and LLC member-manager; the other is a LLC member and passive. The passive partner receives guaranteed payments. The...
5
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15 years ago
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how to calculate amortization, constant yield/interest
Publication 550 says to amortize the bond premium using the constant interest method for bonds purchased after 9/28/1985. But what is the constant interest method? Is it the YTM (yield to maturity)?...
13
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15 years ago
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1099 - What's a "service" vs a "product"?
I'm looking for a pointer to a publication that discusses what qualifies as "services" that need to be reported on a 1099. I seem to recall reading some detailed descriptions somewhere in the past but...
12
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16 years ago
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Added additional W-2 and refund dropped significantly. Does this make sense?
Now that I finally got my W-2 from my previous employer, I plugged it into Turbo Tax and ta-da!.... $1k+ _subtracted_ from my refund. How could this happen? I first thought that I might have bumped...
2
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16 years ago
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State Income Tax Refund Checks Still Good after Void Date on Check?
Can you still deposit/cash an Income Tax Refund check issued by the State AFTER the 180 days in which it states your check will be voided? I recently uncovered a State of NJ income tax refund check...
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17 years ago
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6 | |
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Security deposits on real estate LLC - recourse debt? (2024 Update)
A colleague insists that security deposits in a real estate LLC are recourse debt. She says the managing member has a fiduciary responsibility to safeguard the deposits of tenants. I have never...
12
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11 years ago
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12 | |
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telecommuting to CA - CA state tax liability?
It seems like this should be a simple question, but searching around the net I see a lot of conflicting information. I live in Texas (own a house here and everything) and telecommute to a company...
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16 years ago
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13 | |
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H&R Block Software Won't Let me File electronically
Has anyone else run into this? I entered all my data into H&R Block software and got to the final steps of preparing to file electronically. I entered all my checking account information, scheduled...
8
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4 years ago
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8 | |
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Constructive receipt of lottery winnings.
Assuming a lottery drawing is on November 10, 2011, but I don't present the ticket to the lottery commission until May 8, 2012. In what year are the proceeds taxable? I recall a debate here about two...
18
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11 years ago
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18 | |
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Unemployment compensation - category for foreign tax credit
Here's a bit of a weird question. When claiming a foreign tax credit using Form 1116, income needs to be categorized. Should unemployment compensation (foreign, obviously) be reported as passive or as...
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11 years ago
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Legality of doing gratis returns for family or friends?
Now that the new Registered Preparer regime is in effect, what's the legal status of a non-registered person doing a return for relatives or friends as long as any returns are done for no compensation...
12
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12 years ago
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12 | |
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Conversion, Keogh to SEP-IRA?
Since retiring from a university position 8 years ago (I'm now well into the mandatory minimum distribution age range), I've done a modest amount of consulting (on the order of $10K/year total...
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12 years ago
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11 | |
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1099-MISC Box 7 - Declare as Other Income?
My daughter, who is currently a high school student, worked as an intern for a law firm last summer and made about $2000. The firm sent her a 1099-MISC with the income listed in Box 7, non-employee...
15
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13 years ago
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15 | |
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Lost Collateral on Secured Loan
My son-in-law was part of an LLC (Bad Latitude) that took out a $200K loan to finance a restaurant. I pledged a money market of mine with $200K as collateral for the loan. The restaurant has now gone...
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13 years ago
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