Taxes General Forum

MRD Not Taken In Year Of Death, but Bank Reports That It Was....Is this Legal?

Client's late husband's IRA account did not distribute his MRD in 2013 (year of death). The entire account balance incl...

5 comments posted 12yrs

posted by mmurrellcpa

5 comments posted 12yrs posted by mmurrellcpa

Rental LLc Tax Question

My wife is one of seven owners, of a their inheirited family house, that they seasonally rent. They have it titled as a...

10 comments posted 12yrs

posted by news

10 comments posted 12yrs posted by news

Massachusetts Automatic Extension For Expats?

Hi, We moved out of the U.S. from Massachusetts in 2012. I am not certain if we need to file a Mass. 2013 return or whe...

2 comments posted 12yrs

posted by garyjbrown123

2 comments posted 12yrs posted by garyjbrown123

Schedule A Real Estate Taxes Paid

I forgot. Can a taxpayer deduct taxes paid on investment property here? Or just on primary residence. thanks

10 comments posted 12yrs

posted by eddiebaker50

10 comments posted 12yrs posted by eddiebaker50

Quarterly Earnings filings -

I have a tiny S Corp. I have not taken any salary not have I withdrawn any money. The S corp is profitable. My husband...

2 comments posted 12yrs

posted by ritagoldman101

2 comments posted 12yrs posted by ritagoldman101

Nursing Home, QIT, Medicaid, Spousal Diversion & Income Tax

My dad is in a nursing home on Medicaid. His income is from SS and a modest pension. Some of this income goes through a...

4 comments posted 12yrs

posted by Don

4 comments posted 12yrs posted by Don

AirBNB depreciation

How does one report depreciation for AirBNB rentals? The cmomon situation is that you rent out a portion of your home fo...

5 comments posted 12yrs

posted by removeps-generic

5 comments posted 12yrs posted by removeps-generic

Gift of mortgage payment?

I hold the mortgage on my son's home. I have given him birthday gifts corresponding to one month of mortgage payment. H...

10 comments posted 12yrs

posted by SalmonEgg

10 comments posted 12yrs posted by SalmonEgg

Rental Property Sunroom Repairs - Capital or Expense or Some of Each?

In a rental property that has a sunroom, the roof of the sunroom began leaking. The water from the leaking roof damaged...

0 comments posted 12yrs

posted by njoracle

0 comments posted 12yrs posted by njoracle

MRD Not Taken For Many Years. One taxpayer passed away.

Hello to all, and thank you in advance for any help you can give me! New Client this year. She and her late husband hav...

0 comments posted 12yrs

posted by mmurrellcpa

0 comments posted 12yrs posted by mmurrellcpa

How does IRS decide if rental is a loss?

Taxpayer rents a portion of his house out and allocates a pro-rated portion of his mortgage and property taxes to the r...

3 comments posted 12yrs

posted by FW357

3 comments posted 12yrs posted by FW357

IRS Issues Guidance On Virtual Currency (E.g., Bitcoin)

http://www.irs.gov/pub/irs-drop/n-14-21.pdf

0 comments posted 12yrs

posted by tempuser

0 comments posted 12yrs posted by tempuser

USSC Rules Severance Pay Is Taxable Wages Subject to FICA: Reverses 6th Circuit Quality Stores Decision

Unanimous decision 8 to 0. Kagan did not consider or vote. http://www.supremecourt.gov/opinions/13pdf/12-1408_6468.pdf

1 comments posted 12yrs

posted by tempuser

1 comments posted 12yrs posted by tempuser

foreign earned income exclusion

Hello Everyone, simple question: I am trying to understand if I can claim "foreign earned income exclusion" or not. I a...

5 comments posted 12yrs

posted by paso.yossarian

5 comments posted 12yrs posted by paso.yossarian

Difference between Tax exempt Interest and Tax exempt dividends?

My son sent me his H&RBlock file to check his return before he filed. He has tax exempt interest and tax exempt dividen...

5 comments posted 12yrs

posted by veryfrustrateduser

5 comments posted 12yrs posted by veryfrustrateduser