Taxes General Forum

Deductability of cash out mortgage on first home used to purchase second home

Dumb question, apologies in advance. Is it deductible? Or does the mortgage actually have to be secured by the second h...

5 comments posted 13yrs

posted by jms2l

5 comments posted 13yrs posted by jms2l

IRA Distribution to Pay Student Loans

I will be 59 1/2 years old in Feb. 2013. I will have approximately 130,000 dollars in student loans that I will need to...

12 comments posted 13yrs

posted by country1st

12 comments posted 13yrs posted by country1st

New optional safe harbor for home office expense (Rev Proc 2013-13)

Rev Proc 2013-13 announces a new, optional safe harbor for home office expenses. For taxable years beginning on or afte...

1 comments posted 13yrs

posted by rlc-news

1 comments posted 13yrs posted by rlc-news

tuition deduction/credit and 529

We've reached the point where our son - a junior at UW/Madison - has enough in his 529 account to take care of all his...

4 comments posted 13yrs

posted by pschuman_no5pam_m3

4 comments posted 13yrs posted by pschuman_no5pam_m3

Conversion of Traditional Nondeductble IRA Contribution to Roth IRA

In early 2012, I wanted to contribute $5,000 to a Roth IRA for 2011, but my income was too high, so I made the contribu...

3 comments posted 13yrs

posted by greekgod

3 comments posted 13yrs posted by greekgod

LIRA question

OK...been in the states for over 16 years. Had a small LIRA from a teaching gig in 1993. Amounted to only $1500 put in...

3 comments posted 13yrs

posted by JL

3 comments posted 13yrs posted by JL

trouble getting to EFTPS

I tried to connect to www.eftps,gov to make an estimated tax payment yesterday, and all I got was timeouts. Same today,...

10 comments posted 13yrs

posted by johnl

10 comments posted 13yrs posted by johnl

Computation of Other Income Due to Taking American Opportunity Credit and Using 529 Plan

For 2012, I'm taking the $2500 American Opportunity Credit (AOC) for payment of >$4,000 college tuition/fees/books for...

1 comments posted 13yrs

posted by greekgod

1 comments posted 13yrs posted by greekgod

tax on sale of inherited overseas house

My mother sold a small home overseas that she inherited 40 years ago and used as a summer home until she became a widow...

1 comments posted 13yrs

posted by david_fraleigh

1 comments posted 13yrs posted by david_fraleigh

I work in the USA but I am paid by a German company (money wired to US).

My FULL salary is wired to my bank after I submit a monthly invoice. I do not receive a receipt for my Monthly Salary,...

5 comments posted 13yrs

posted by BarbM

5 comments posted 13yrs posted by BarbM

Real Estate Agent commissions

I wanted to see how the following situation can be dealt with: Lets say I buy a fixer house and the agent who represent...

5 comments posted 13yrs

posted by mashtube

5 comments posted 13yrs posted by mashtube

Signing a W9?

I am a beneficiary to a trust. The bank administering it sent me a W9. As I read the instructions I don't have to sign...

11 comments posted 13yrs

posted by *

11 comments posted 13yrs posted by *

EFTPS

"Schedule tax payments in advance. Businesses can schedule payments up to 120 days in advance. Individuals can schedule...

3 comments posted 13yrs

posted by PicoRico

3 comments posted 13yrs posted by PicoRico

Graduate Student Stipend Questions

In my first year of graduate school (Aug. 2010), I was considered a "graduate trainee" and none of my $26,000 stipend w...

8 comments posted 13yrs

posted by bryanroessler

8 comments posted 13yrs posted by bryanroessler

Roth 401 conversion to Roth IRA: which 5-year clock applies?

I made my first contribution to an employer's "designated Roth" 401(k) account or "deemed Roth IRA" under a 401(a) plan...

6 comments posted 13yrs

posted by qguy31416

6 comments posted 13yrs posted by qguy31416