Taxes General Forum

recovering property via foreclosure

Taxpayer sells real estate, and takes back a first mortgage. Buyer then defaults,and the taxpayer takes back the real e...

1 comments posted 13yrs

posted by Reggie

1 comments posted 13yrs posted by Reggie

Sale of home by widow

Husband dies in 2010, widow sells home in 2012 after jointly owning it for 33 years. Does she get the $500K tax exclusio...

2 comments posted 13yrs

posted by bh2os62

2 comments posted 13yrs posted by bh2os62

Annuity in an IRA and One That's Not.

Last Year my wife purchased an annuity with some of the funds in her regular IRA. It is a "life insured" annuity which...

2 comments posted 13yrs

posted by jwisnia18DUMPTHIS

2 comments posted 13yrs posted by jwisnia18DUMPTHIS

Interest Reported in partner's SS#

I have two clients (A and B) who live in the same house. They are not married. Early in 2012, they BOTH signed a $50,00...

4 comments posted 13yrs

posted by mmurrellcpa

4 comments posted 13yrs posted by mmurrellcpa

ITN and W7 Form Questions

Hi, I?m an American citizen residing in the Philippines. I have a 5-year old daughter for who has not yet been approved...

2 comments posted 13yrs

posted by jeffgrundy

2 comments posted 13yrs posted by jeffgrundy

Penalty for not making estimated tax payments?

Turbotax tells me I have to make a $2 estimated tax payment to get into safe harbor. What penalty am I looking at for ig...

22 comments posted 13yrs

posted by *

22 comments posted 13yrs posted by *

NOL attachment

Do you need any attachments to return for a year the NOL is carryforwarded to? Just put as negative on line 21 with expl...

1 comments posted 13yrs

posted by smfwdf

1 comments posted 13yrs posted by smfwdf

How do we reinvest money from a contract for deed sale

We are selling our business on a contract for deed. We'd like to reinvest as much as possible to avoid large capital ga...

5 comments posted 13yrs

posted by bonnie

5 comments posted 13yrs posted by bonnie

Does moving to Asia generate eductabile expenses?

Does moving to Asia generate deductable expenses? I finally got around to watching my recording of the first debate for...

1 comments posted 13yrs

posted by NONONOmisc07

1 comments posted 13yrs posted by NONONOmisc07

Relocation to the US: Dual status, 1040NR or 1040?

Hello, I came to California from Germany in October 2012 and work here on a H1B visa (I got an SSN) with my wife (H4 Vi...

3 comments posted 13yrs

posted by me7newsgr

3 comments posted 13yrs posted by me7newsgr

TT Bug

TT (specifically TT Deluxe Desktop but it may extend to other versions). I have imported my transactions to TT via a .t...

0 comments posted 13yrs

posted by moo

0 comments posted 13yrs posted by moo

Claimed & received EIC already, but got Notice CP09 anyway

I filed a client's 1040 about three weeks ago, claiming the Earned Income Credit. The client has already received a ref...

2 comments posted 13yrs

posted by leec

2 comments posted 13yrs posted by leec

retained earnings (AAA)

Company A merged with Company B with Company A surviving. How do you disclose the retained earnings (AAA) transferred/me...

0 comments posted 13yrs

posted by Dale

0 comments posted 13yrs posted by Dale

Original Issue Discount

I bought a bond on the secondary market in May 2012, at a discount; and sold it in Dec 2012. The brokerage firm sent me...

7 comments posted 13yrs

posted by mirss7c1001

7 comments posted 13yrs posted by mirss7c1001

question about W-2

I'm having trouble figuring out my w-2, so I'm hoping someone can help me. I've asked my HR department, but the way thi...

5 comments posted 13yrs

posted by ghanwani

5 comments posted 13yrs posted by ghanwani