Best Rated threads in Taxes General Forumshow all threads
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us citizen kid of non-resident parents
Hi, I'm wondering if I can claim my kid who was born in US as a dependent. I'm filing tax refund as a non-resident and not from Mexico, Canada, South Korea, or India. Thanks CC
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12 years ago
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Rent income on 1099-MISC
Some of my real estate rent income are reported on 1099-MISC. Does this mean that I have to report these payment on Schedule C instead of E (thus subject to potential SE tax)?...
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12 years ago
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Police officer on duty meal allowance
Police officer has on-duty meal per diem included in W-2 wages. Can this same amount be deducted on 2016 and thus schedule A? thanks
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12 years ago
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Insolvency Worksheet Question
I'm trying to fill out an insolvency worksheet and I don't know what to do about the house information. We have a mortgage on a home and owe around $105,000. So that would go in the liability section....
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12 years ago
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1099 But No Income
Consider the following (entirely realistic) scenario: 1) You create an account with Amazon Payments, enabling you to send money. 2) You send your wife/girlfriend/friend/dog $1000, paid from your...
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12 years ago
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How To Report Stock Exchange In Merger?
Over the years, my wife accumulated 418.619 shares of Nicor, Inc. In December 2011, Nicor was merged into AGL Resources (AGL). Each Nicor share was exchanged for $21.20 in cash plus 0.8382 share o...
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12 years ago
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IRS Letter 4809
Today I got a Letter 4809 from the IRS pointing out that I prepare a lot of returns with Schedule Cs (admit). The letter advises me that I should follow certain procedures to make sure that Schedule...
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12 years ago
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501(c)3 corporation and W9 form.
I am trying to figure out what is the correct way to fill out a W9 form for a nonprofit, tax exempt, 501(c)3 corporation. Our organization was first incorporated as a nonprofit corporation under the...
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12 years ago
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Negative AGI and percentages for various deductions.
as an expense the amount ... which exceeds X% of AGI." (paraphrase). This type of language is present in sections 67 (misc-2%), 165 (personal casualty loss - 10%), and 213 (medical expense - 7.5%)....
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12 years ago
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AGI and FEIE
If you have foreign earned income and take the foreign earned income exclusion, does this increase your AGI? My specific question at the moment is how it would affect ability to deduct passive...
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12 years ago
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foreign tax home & US abode redux
This topic comes up quite a bit in this forum. My question pertains in particular to a scenario very similar to the following thread from 2008, which I provide a link to here just to help you warm up....
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12 years ago
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Ohio Source Income
We had a TCE client yesterday who is a MD resident and the sole beneficiary of a testamentary trust managed in Ohio. The income is all from interest and annuities and is all paid out to the...
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13 years ago
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NYS Non-Res K1 question
I received a NY Schedule K1 equivalent resulting from the income tax on my mother's estate. She was a NYS resident, but neither I nor the other trustees/beneficiaries are. There was no NYS taxable...
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13 years ago
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Reclaimable foreign taxes withheld
Section 1.901-2(e)(2)(i) states: ?An amount is not tax paid to a foreign country to the extent that it is reasonably certain that the amount will be refunded, credited, rebated, abated, or forgiven.?...
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13 years ago
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Tax implications - Converting a rental house into a primary residence.
Need input on tax implications for converting rental house into primary residence. Facts Example: Owner has owned rental house since Nov 1999 and since then has rented the house until January 1, 2010....
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13 years ago
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Inherited installment obligation.
In pub 537 it says that if you inherit an installment obligation it is taxed the same as it was for the seller. However; when you inherit property, the basis of the inherited property is the FMV on...
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13 years ago
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Trust termination with capital loss and charitable remaindermen
A trust was terminated in 2010 when the primary beneficiary died and assets were distributed to the remaindermen including several charities. There is no DNI but a large capital loss with selling the...
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13 years ago
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Which version of TurboTax should I use?
I was looking at the application chart at Office Depot this afternoon. It seemed to indicate that I would not be able to use the $60 version, I would have to upgrade to the $90 version because I have...
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13 years ago
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Fillable 1099-MISC forms?
This IRS page claims that with the correct version of Adobe Reader, I should be able to fill in certain forms: ˜121, they're lying, or the 1099-MISC available on the IRS site is not fillable. know...
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13 years ago
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1 | |
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IRA Benficiaries Question
I have a regular IRA and my wife and I both have smaller ROTH IRAs. We have a joint living Trust with each other as beneficiaries with the Trust as the contingency benficiary. Would there be any tax...
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13 years ago
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