Latest threads in Taxes General Forumshow only best voted threads
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Form 8606 when joint taxpayers are deceased
I am going to be filing a tax return on behalf of my deceased parents. Both of them died in the same calendar year, and each had been taking RMDs from their individual IRAs for a number of years. The...
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1 year ago
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10% tax on early distributions from a Roth
Pages 31-32 of Pub 590-B say that there's a separate 5-year period for each conversion from traditional to Roth IRA, and early distributions "may" have to pay a 10% additional tax. Page 32 says "you...
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1 year ago
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Income Limit for IRA Contribution
Hi All - I got a query from someone who thinks his income is too high to make a contribution to a traditional IRA. As far as I can tell, there is no income limit for that, and that IRA contributions...
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1 year ago
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RMD for deceased taxpayer
A family member (97) recently passed away with a traditional IRA. I have been doing his returns. He did not take his 2022 RMD as of date of death. What do I have to do to avoid penalty? His residence...
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1 year ago
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Recommend Forum Similar to Misc.Invest.Financial-Plan?
The forum appears to be either highly inactive or defunct. Can anyone recommend a similar, moderated financial planning forum? My main brokerage for some 35 years has been Fidelity. Fidelity did...
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1 year ago
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Criminal Tax (IRS) Investigation Question
Do any of you folks have current information about the minimum tax due standards (a/k/a LEM Standards or Prosecution Standards) IRS-CI applies as part of its decision to pursue (or not pursue) a Joint...
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1 year ago
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when is desktop TT deluxe for tax year 2022 coming out
I googled it and found nothing. Very strange. Mel ========================================= MODERATOR'S COMMENT: Please put your entire message in the body of the message. Do not assume that anyone...
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1 year ago
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Solar Tax Credits and Home Basis
I was wondering if there is any effect on home basis for claiming the solar tax credit for installing solar panels. As a concrete example, assume that installing such panels on one's home costs...
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1 year ago
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Qualified Dividends weirdness
I prepare the tax return for a retired relative. She itemizes. I'd forgotten to deduct Part B and Part D premiums when itemizing her medical expenses. I create formulas in spreadsheets for the Social...
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1 year ago
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State income taxes, working from home
30+ years ago, I worked and lived in Massachusetts. My office-mate lived in NH, a state with no income tax. I had to pay MA tax wherever I worked. When we went on a business trip to another state...
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1 year ago
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You have an extension to file your 2021 tax return???
I logged on my IRS account and saw a message saying "You have an Extension to File you 2021 Tax Return." What does this mean? I filed an extension before the due date and mailed my tax return forms on...
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1 year ago
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Massachusetts Income Tax Penalty M-2210 (2023 Update)
I accidentally asked Massachusetts to figure out my penalty for 2021 and it gave me a small penalty, less than $50. I have appealed and filed M-2210 with part 2 filled out for 2021 because our...
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1 year ago
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Unemployment 1099
I received an inquiry from someone who is starting a private company that will provide unemployment insurance. (Yes, I know it doesn't make any sense. But it's not my job to question that at this...
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1 year ago
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Foreign Owned LLC
I ran across something I don't understand and I hope you can help. A non-citizen has a single-member LLC in the US. He's required to file Form 5472 - no problem there. But does he file Form 1040-NR,...
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1 year ago
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Contacting the IRS
What's the best way to contact the IRS. It's looking like 'snail mail' is the only viable method. Is there any point in calling the IRS? Do they ever let you through? Why do they have you answer a...
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1 year ago
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