Taxes General Forum

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 differen...

2 comments posted 12yrs

posted by investor408

2 comments posted 12yrs posted by investor408

Standards for rounding?

Are there any US federal standards/guidelines or GAAP for rounding? Or an international standard/guideline, like GIPS,...

9 comments posted 12yrs

posted by qguy31416

9 comments posted 12yrs posted by qguy31416

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...

1 comments posted 12yrs

posted by spam+newsgroups

1 comments posted 12yrs posted by spam+newsgroups

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 r...

4 comments posted 12yrs

posted by qguy31416

4 comments posted 12yrs posted by qguy31416

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 w...

1 comments posted 12yrs

posted by jblatz2

1 comments posted 12yrs posted by jblatz2

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 wi...

3 comments posted 12yrs

posted by qguy31416

3 comments posted 12yrs posted by qguy31416

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...

2 comments posted 12yrs

posted by qguy31416

2 comments posted 12yrs posted by qguy31416

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...

5 comments posted 12yrs

posted by dontspamme

5 comments posted 12yrs posted by dontspamme

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...

1 comments posted 12yrs

posted by ral1040

1 comments posted 12yrs posted by ral1040

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 owe...

6 comments posted 12yrs

posted by jms2l

6 comments posted 12yrs posted by jms2l

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...

1 comments posted 12yrs

posted by jamesgroleau

1 comments posted 12yrs posted by jamesgroleau

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...

4 comments posted 12yrs

posted by *

4 comments posted 12yrs posted by *

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 gai...

13 comments posted 12yrs

posted by Jake29

13 comments posted 12yrs posted by Jake29

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 sec...

2 comments posted 12yrs

posted by caj11

2 comments posted 12yrs posted by caj11

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...

2 comments posted 12yrs

posted by removeps-generic

2 comments posted 12yrs posted by removeps-generic