Latest threads in Taxes General Forumshow only best voted threads
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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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Harlan Lunsford
Haven't heard from Harlan here for several years. RIP Harlan F. Lunsford, Jr., 78, of Smith Station, Al. passed away on Tuesday, February 17, 2015 in the Columbus Hospice. Graveside services will be...
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8 years ago
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Switching Primary Residence to a no-income-tax state
Actually, it seems more likely that _both_ states would claim you as a resident when it is to their advantage. At least in California, the other factors are more significant if you do not reside in...
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8 years ago
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SS-8 Inquiry; Busting a CPA?
A small private school with 501(c)(3) status has around 10 part-time teachers and has been around for about 10 years. Up until tax year 2014, the school paid the teachers as "employees" for IRS tax...
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9 years ago
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A question on home sales
A friend had his house sold (or so he thought), but it fell through. The person backed out and my friend kept the earnest money. Is that income? Does it impact on the tax basis of the house? Anything...
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9 years ago
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Charitable deductions by sole proprietorship rather than personal
When a writer gives away office furniture, books, tech stuff, can they deduct it from the business expenses as a charitable deduction or does it have to go on the personal? Yes, I do take the home...
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9 years ago
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Inherited IRA RMD
Situation is that 90 year old decedent's IRA beneficiary is a family trust which has three children named as beneficiaries. One lawyer says that the three trust beneficiaries can establish inherited...
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9 years ago
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I mailed it certified...
The IRS has sent me a letter *by certified mail* telling me that I didn't file my claim for refund by the end of the 3-year and 6-month period, and that they therefore can't allow the claim. Well, I...
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9 years ago
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What's with this odd IRS notice?
I efiled on 4/8. Saturday my refund went from received to approved; they say it will be deposited in my bank on 5/13. Today I got a mailed notice from the IRS dated 5/18. (yeah, it is dated next week)...
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9 years ago
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Savings Bonds as refund
I notice on form 8888, tpyr can get their refund on a paper savings bond. The last I knew, govt weren't issuing paper bonds any more. Has anyone ever had a TPYER request a bond for a refund lately?
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9 years ago
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IRS OPR director resigns
For the tax professionals on this forum, here is some news, I think it refers to Karen Hawkins. Directorâs Farewell Message to Tax Professionals
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9 years ago
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form 6198: basis vs at-risk?
This is re an MLP. My 'ending capital account' has gone negative. AIUI, this means my 'amount at risk' is $0, and I need to file 6198. Part 2 of 6198 ("Simplified computation of amount at risk")...
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9 years ago
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Unclear on tax basis here -- very elementary query
In June, 2011, I bought 10 tax-free (State and Fed) municipal bonds. My total cost was $10623.98, which included $165.28 accumulated interest. There was no commission. They matured last month. I...
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9 years ago
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Cost basis and reporting of real estate transactions.
Hypothetical ... Adam buys a house for $400k and rents it to Bill. They sign a two year lease. Eighteen months later, Adam needs some cash so he wants to sell, but Adam is locked into a lease with...
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9 years ago
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Is there a downside to obtaining an EIN and registering as a Sole Proprietor
Dear forumers. I work as an Independent Contract and receive a 1099. I file a Schedule C every year. This year I would like to open a Solo 401K. One requirement to have such an account is to obtain an...
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9 years ago
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