Taxes General Forum

how long to keep tax records for deceased parent

I have done my parents 1040 tax return for the last many years. My father passed away 7 yrs ago and my mother passed aw...

1 comments posted 12yrs

posted by condo8445

1 comments posted 12yrs posted by condo8445

Mom has trust fund with Two sisters and brother handling it. Who files the incom

Mom has a trust fund. Two sisters and a brother are handling the trust for her. Who files the income tax for the interes...

2 comments posted 12yrs

posted by CArol

2 comments posted 12yrs posted by CArol

new car depreciation

I am self employed. I was using mileage for business driving. I sold the old car in October of 2013 and bought a new ca...

3 comments posted 12yrs

posted by awpsat

3 comments posted 12yrs posted by awpsat

Gift tax Circumstances.

Situation: A single person wants to give as a gift, in 2014, via check to a married sister's son who has a wife and two...

14 comments posted 12yrs

posted by Ma9a56

14 comments posted 12yrs posted by Ma9a56

Tax status of lawsuit settlements

I settled two lawsuits in 2014. In the first, a company that issued a fraudulent 1099 agreed to reimburse me for my leg...

4 comments posted 12yrs

posted by veryfrustrateduser

4 comments posted 12yrs posted by veryfrustrateduser

Two 401k plans; can I consolidate them?

I have two 401k plans at Fidelity; one for my current employer and one for a former employer. The website says I can ro...

7 comments posted 12yrs

posted by veryfrustrateduser

7 comments posted 12yrs posted by veryfrustrateduser

When will the 2013 tax forms for use in 2014 be finalized?

I understand the final 2013 tax forms are still in preparation. When will they be officially finalized and available on...

2 comments posted 12yrs

posted by hrhofmann

2 comments posted 12yrs posted by hrhofmann

TD F 90-22.1 Rest in Peace

I see that instead of Treasury form TD F 90-22.1 one must file Fincen Form 114. This seems to be only available for ele...

1 comments posted 12yrs

posted by larry.israel100

1 comments posted 12yrs posted by larry.israel100

Tax on profit from stocks that I never owned.

Myself and a group of friends pooled a bunch of money together to buy some stocks a couple of years ago. One of the guy...

12 comments posted 12yrs

posted by rogermccarrick

12 comments posted 12yrs posted by rogermccarrick

Rental property or personal property

I sold my property that I rented out for 6 years, but has not been rented out for the past 7 years. Is this a sale of re...

5 comments posted 12yrs

posted by Leann

5 comments posted 12yrs posted by Leann

First time W/D from 529 and implications for American Opportunity Credit

I was using TaxAct and got to the part of education expenses. The student is my son. It asked me for all of his expense...

1 comments posted 12yrs

posted by gindie

1 comments posted 12yrs posted by gindie

Schwab Instructions for Change in 8849 Jan 14 2014

According to Schwab, the IRS has changed the 8849 forms as of Jan 14, 2014 by adding three new boxes - D, E, F. However...

3 comments posted 12yrs

posted by njoracle

3 comments posted 12yrs posted by njoracle

Sale of rental property at a loss

I, myself, am at a loss. A trust sells, at a loss, nonresidential real estate that had been rented to third parties. Th...

10 comments posted 12yrs

posted by PicoRico

10 comments posted 12yrs posted by PicoRico

Sales Methodology and Cost Basis

Hi, A few years ago I did some planning before selling stock and chose to use the HIFO method since it was going to yie...

1 comments posted 12yrs

posted by melissasachet

1 comments posted 12yrs posted by melissasachet

706NA

Some questions have come up with respect to a 706NA, and I'm curious if anyone here has any insight. First of all, the...

9 comments posted 12yrs

posted by spamtrap

9 comments posted 12yrs posted by spamtrap