Latest threads in Taxes General Forumshow only best voted threads
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Reporting someone?
I know someone that built three apartments an does not pay taxes on them cause he built them with out building permits or inspections done on the property. Thanks so much
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10 years ago
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Closing a C Corporation That Owns Shares in Other Corporation
Taxpayer owns 30% of a C Corporation that is closing. Any net cash from corporation is paid to shareholders as a dividend, and the C corp generates a 1099-DIV for that payment. But the C Corporation...
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10 years ago
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is distribution from inherited Roth IRA taxable?
My grandchildren, who are under age 18, inherited a Roth IRA from my son. The first contribution was made in July 2007, and my son died in Nov 2012 at age 29. Is any part of a distribution in 2014 or...
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10 years ago
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Tax free gift question
My parents wants to gift $20K to my sister. My understanding is somebody can gift $13K tax free, but my father and mother could each gift her up to $13K. In order to do things correctly under IRS...
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10 years ago
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Share identification under bipartisan attack?
Happened to see this on Kaye Thomas's Fairmark site today and wanted to pass it along: "...both President Obama and Dave Camp, the Republican Chair of the House Ways and Means Committee have proposed...
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10 years ago
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the "Medicare" part of new earned income and NII taxes
Both the 0.9% Increased Medicare Tax on Earned Income and the 3.8% Medicare Tax on Unearned Income are referred to as, well, "Medicare" taxes, and they are treated as such on the tax return...
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10 years ago
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i filled out 4684 in 2012 do i just fill out 1045 sched a page 2 in 2013
I filled out 4684 section B part 1 and Part 2. I put 28133.00 in line38b which is amount I lost in ponzi scheme. I also put this amount on Sched. A form 1040 in line28. When I added other utemized...
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10 years ago
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Taxation of Income in year after death
My father died at the end of 2013. He had several Certificates of Deposit maturing in 2014 payable on death to me. The bank will not transfer the account to my name. The options are to take the funds...
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10 years ago
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Does filing Joint affect Student Loan Eligibility
John is 28 and a full-time student. He has little or no income, and funds his schooling with federal student loans. Mary is 26 and has a full-time job paying $50,000 per year. John and Mary get...
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10 years ago
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SS-8
I had a client submit form SS-8 to the IRS, to have them determine whether she was an employee or contractor. It was sent in September of 2012. As far as I'm aware, there has been no response. Is this...
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10 years ago
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MTM technical difficulties - lost submissions
Greetings from MTM's server rat. I'm in the last throes of moving to a new server the application that is used by the moderators to do their work. In the process of the move, there have been some...
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10 years ago
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selling home: deductible expenses?
IRS Pub 523 lists only the following deductible selling expenses: commissions, advertising fees, legal fees, and "loan charges paid by seller". What about inspection fees, Natural Hazard Disclosure...
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10 years ago
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prorating rental expenses?
I am not very familiar with how we report rental income on Form 1040 (Sched E?). I know the devil is in the details. But I am looking for some "rough" approximations. In general, I presume we can only...
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10 years ago
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different average basis for covered and uncovered securities?
I sold all of my holdings in a mutual fund. My broker is using one average basis for covered securities, and a different average basis for uncovered securities. Are they correct to do so? It makes a...
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10 years ago
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Standards for rounding?
Are there any US federal standards/guidelines or GAAP for rounding? Or an international standard/guideline, like GIPS, for rounding? Some time ago, I stumbled across some "standard" (perhaps FIPS)...
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10 years ago
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