Latest threads in Taxes General Forum

Security deposits on real estate LLC - recourse debt?

A colleague insists that security deposits in a real estate LLC are recourse debt. She says the managing member has a f...

12 13yrs

mrosen

12 13yrs mrosen

401K Withdrawal

I have around $22000 in a company 401k company that I want to take out as a distribution. I am gone from the company an...

2 13yrs

bill2571

2 13yrs bill2571

Another Savings Bond Question

This is a different question from the one in my other thread. My mother died back in the 1990s and left a small amount...

4 13yrs

rick

4 13yrs rick

Changing from Method 1 to Method 2 on Savings Bond Interest

I have paper EE savings bonds purchased in 1992 which have been accumulating interest every year. The original purchase...

2 13yrs

rick

2 13yrs rick

Another Dumb Estimated Tax Question

I know I'm supposed to pay estimated taxes on 4/15, 6/15, 9/15, and 1/15. I get paid monthly. Am I supposed to pay 3 mon...

3 13yrs

dontspamme

3 13yrs dontspamme

Are there penalties in letting an annuity mature after the death of owner?

My father had a $100,000 annuity for the term of 5 years. He died the year it was invested. My name is listed as POD bu...

0 13yrs

Quip

0 13yrs Quip

1098-T and W2 for scholarship amount

Our son, a full time student, received a token scholarship to work last summer at UW/Madison for $2,500. It's interesti...

7 13yrs

pschuman_no5pam_m3

7 13yrs pschuman_no5pam_m3

tax treatment of distribution from Country Wide class action litigation

I received $276.41 as a result of a class action suit against Countrywide Financial which was finalized last year. My "...

1 13yrs

phillysleuth

1 13yrs phillysleuth

Questions on Purchase on a Small Business

I am in the process of buying a few outlets of a franchised business from the franchisor company directly. We had come...

1 13yrs

ritagoldman101

1 13yrs ritagoldman101

Amending basis on Form 8606 for prior years - 1040X required?

I recently discovered an error on my 8606 for 1994. I erroneously reported a nontaxable distribution of $92 on line 10...

2 13yrs

suerivas

2 13yrs suerivas

I depreciated the roof replacement on our rental home using the wrong method

I used The MACRS 7 year 200DB method not knowing I needed to use the 27.5 year. I've been doing this for 5 years. What s...

1 13yrs

Andy

1 13yrs Andy

Premium Reimbursement after 20 years.

Client received a check for $10,000 from Aflac. It is a reimbursement of her premiums because she did not made a claim...

2 13yrs

mmurrellcpa

2 13yrs mmurrellcpa

Can the $5250 Reimbrusement of tuition be used to pay for employee's that have

Can a company use the $5250 reimbursement of tuition for employees that have already graduated? I can not find the 1996...

1 13yrs

Tony Eller

1 13yrs Tony Eller

SEP-IRA and 401K combined limits

I've read several web postings, but I want to make sure I have this right. Here's the specific situation: 1)Worked for...

1 13yrs

gindie

1 13yrs gindie

Question about how much money back

If an individual earned $16,270 in gross income as an employee as stated on a W-2 which was there only form of income.....

5 13yrs

pdntspad802

5 13yrs pdntspad802