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Treatement of MLP k-1 data by Pennsylvania

I'm getting k-1s for 3 oil and gas MLPs and the business losses gets converted to passive losses which (somehow) comes...
4 comments posted 12yrs
posted by phillysleuth
4 comments posted 12yrs posted by phillysleuth

Any Downside To Not Filing A Tax Return?

If someone is not required to file a Federal tax return because their income is too low is there any downside to not fil...
10 comments posted 12yrs
posted by news
10 comments posted 12yrs posted by news

Reasonability of drop in taxes between 2010 and 2013

Taxable income 2010 = $47800. Tax due $6848. Taxable income 2013 = $46715. Tax due $3115. Tax taken from Qualifed Divid...
6 comments posted 12yrs
posted by phillysleuth
6 comments posted 12yrs posted by phillysleuth

where to deduct profit sharing contribution

If you have a self-employed 401(k) can you deduct the profit-sharing contribution on Schedule C, line 19. At first glan...
3 comments posted 12yrs
posted by removeps-groups
3 comments posted 12yrs posted by removeps-groups

Does IRS or FTB Withdraw Tax Due?

Does the IRS and Franchise Tax board withdraw money from bank account entered on return for deposit, if money is owed,...
5 comments posted 12yrs
posted by michael.roback
5 comments posted 12yrs posted by michael.roback

Simple question on step up basis

If a decedent bought a stock for $1000 several years ago and that stock is worth $5000 on the date of death and the est...
4 comments posted 12yrs
posted by Dee
4 comments posted 12yrs posted by Dee

Filing Amending Tax Returns Son in Military

My 19 year old son filed himself as an exemption in error. He joined the military 9/13. This was his only income, so my...
1 comments posted 12yrs
posted by michael.roback
1 comments posted 12yrs posted by michael.roback

Contradictory IRS rules

I am confused by two IRS rules on rentals which seem to contradict one another. Consider a person who rents a couple of...
3 comments posted 12yrs
posted by jb
3 comments posted 12yrs posted by jb

Excess distribution from a 529 account

Our 20-year old daughter is attending college, and is the beneficiary of a 529 account that my wife and I established....
3 comments posted 12yrs
posted by adwagner
3 comments posted 12yrs posted by adwagner

Need to file 1040X/540X despite no net change?

I already filed my 1040/540 (Calif). I reported zero total tax and both fed and Calif refunds (overpayments). Later, I...
9 comments posted 12yrs
posted by qguy31416
9 comments posted 12yrs posted by qguy31416