Latest threads in Taxes General Forumshow only best voted threads
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IRS announces locations for its 2014 Nationwide Tax Forums.
No hotel info yet. Cities: Chicago, San Diego, New Orleans, Washington DC (area), and Orlando. Of note: Only 5 locations this coming year - not the usual 6. July and August only - no September dates.
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10 years ago
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15% v. 20% max cap gain tax rate?
I have read following regarding the 2013 tax year: "Due to new fiscal cliff legislation, capital gains & dividend tax rates are increasing from 15% to 20% for singles earning over $400,000 [...]....
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10 years ago
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Maximum ROTH conversion and/or contribution
I have both a traditional IRA and a ROTH. I am 68 and still working. I contribute the maximum to my ROTH each year. I was thinking that I should consider converting some of my IRA to the ROTH. When I...
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10 years ago
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Allocating mutual fund avg basis to ST and LT gains?
I sold my entire investment in a mutual fund that I have been holding and reinvesting dividends in for many years. I will let the mutual fund tell me what the avg (or total) basis is. But preliminary...
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10 years ago
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How to handle differences between 1099-B basis v. reality?
I am anticipating significant differences between the basis reported by the broker on the 1099-B and to the IRS v. the real basis based on my records. My concern is based on information the broker...
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10 years ago
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Roth Conversion of Inherited IRA
Assume a 5-year-old inherits an IRA. Can that child do a Roth conversion? If so, what is the maximum amount that could be converted each year without tax liability? It seems like this could be a way...
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10 years ago
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S-Corp. book tax different
How would Schedule L of form 1120-S appear when the books are maintained on an accrual basis while the tax return is on the cash basis. Should the balance sheet reflect the cash basis (ie. no...
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10 years ago
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Can 2014 withholding before Jan 15. count toward safe harbor
Last paycheck is Friday. My withholding will be a little short of meeting my safe harbor (110% of last year's taxes owed). I get another paycheck Jan 3. If I add the amount withheld on that paycheck...
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10 years ago
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Health Insurance payments. What is taxable income?
My situation is as follows: (2013) We received health insurance through my employer. We paid 20% of the cost back to my employer post-tax. The employer paid the full premium to the insurance company....
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10 years ago
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Stock lots are all screwed up!
I sold specific lots of a stock because I wanted to take a loss. The broker traded the wrong lots, claiming there was a computer foul up on that stock that day. He has corrected the lots on the...
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10 years ago
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Reporting misuse of minor child's social security number
A friend of mine is a single parent who has had sole custody of his minor child throughout all of 2013. He actually gained full custody of his minor child near the end of 2012 (in late November,...
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10 years ago
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Question regarding exceptions to 10% penalty on early withdrawal from nonqualified annuity
Okay, so here's another situation I haven't run into before. A client of mine initially told me she had only social security and pension income in 2012 and based on her total income, she was not...
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10 years ago
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how to get back social security taxes in claim of right
Suppose you were overpaid wages 5k. You recompute your return without the 5k income and claim the reduction in federal tax as a credit. How can you recoup the social security and medicare tax that was...
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10 years ago
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401K (as employee) and SEP on SE income
Taxpayer has a 401K with employer. The maximum amount of $23,000 (includes catch up provision) has been withheld from paycheck and paid into the plan. The taxpayer also has SE income and would like to...
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10 years ago
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Rental property HOA pre-payment
My wife an I own a rental property that is subject to homeowners association dues of $100/month. Payments are due on the first of each month, and we will be out of the country in late December and...
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10 years ago
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