Latest threads in Taxes General Forumshow only best voted threads
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Is Filing Form 1116 a Good Idea?
If someone has foreign but his US income tax is already zero is it a good or a stupid idea to file a form 1116? It does not give any reduction in the already zero tax; however it will show an unused...
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8 years ago
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accounting fees
Hi, I just had an argument with the accountant over fees and was wondering what you guys think. Normally I pay $1500 per year to do my S Corp tax return but for my final year tax return the fee went...
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8 years ago
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Taxation of Belgium military and NATO pensions in the United States for US resident
My client lives in CT and receives both a NATO old age pension and a Service des pensions du Secteur Public (SdPSP) for military service in Belgium. He claims that 1/3 of his income went as...
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8 years ago
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Question about working out of state...
My son has some capital losses when he moved from NY to MA. My accountant at the time said he could use them should he ever move back to NY. He has since moved to CA and is now in IL. He has just been...
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8 years ago
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Taxes on non-cash prizes.
If I win a pool table on the Price is Right, and the manufacturer says that MSRP is $14000, can one pay taxes on a lower amount if the $14000 if over inflated? What say the courts? I've read about...
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8 years ago
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Gifted shares of a private family corporation
MY father in law died before I met him in 1982. What he left behind was a 550 acre timber farm that has one mile of sandy beach. The property, if sold, might be valued in the millions. Before he died...
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8 years ago
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Gain: Long term or short term
A woman was recently cleaning her garage and found an old computer so she "gave" it to a store that recycles computers. It turns out, it was an original Apple-I, worth (and sold to a collector for)...
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8 years ago
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Noticed something odd with Ameritrade's handling of Return of Capital (VNQ)
I noticed something odd with Ameritrade's handling with my holding of VNQ (in my non-retirement account). On Vanguard's website, they do show return of capital in 2014. Looking at my 1099 from...
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8 years ago
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Return of Capital in an IRA account
For an IRA account, if a fund (e.g. REIT) gives me Return of Capital, do I need to keep track of this? Correct me if I'm wrong, but generally the cost basis of the REIT won't matter, since when I...
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8 years ago
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Roth or Trad IRA?
My 21 year old son is a college senior. He will make $4,000 this summer and has gotten it in his head that he wants to start a IRA. He has no immediate need for the money, so he could do that. It...
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8 years ago
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Post-poning back tax payments
My ex-wife wants to postpone making a past due tax payment to the IRS. She can't pay the utility bill AND the IRS next month. She wonders if the IRS will go nuts and revoke some gov't grant for...
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8 years ago
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Roth IRAs and tax returns....
I have avoided limited partnerships because the tax related stuff was onerous. How about in a Roth IRA. Since it is tax free, do I have to do all the tax reporting on it? What about foreign...
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8 years ago
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Turstee Income
does Trustee income qualify for IRA contributions? bw
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8 years ago
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Commissions and calculating spin off cost basis
Are the commissions paid to acquire the parent company included in the calculation of the cost basis of a spin off from said company? All the online sites I've looked at, and the spin off calculator...
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8 years ago
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is prop. 13 transferable
My parents home is in trust and my siblings and I have inherited the home. If I buy the home and pay my siblings their portion of the value of the home, will I be able to keep our prop. 13 status????...
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8 years ago
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