Latest threads in Taxes General Forumshow only best voted threads
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What will be the outcome of homeowners exemptions I failed to report?
I failed to report that I moved from 1 county to another home in another county in Jan 2012, what will be the outcome now that I have contacted both counties of this?
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11 years ago
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Charitable Gifts from IRA
My 86 year old memory is failing and I need to know it the past practice of bypassing taxes by having the IRA trustee transfer money from the IRA directly to a charity is still in effect for 2012....
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11 years ago
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What address to use?
I am living separately from my wife in an independent living facility because living at my home is no longer feasible. There is no present intent of divorce or legal separation. We wish to file...
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11 years ago
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Is a concierge medical fee deductible?
I am now going to a physician who requires an advance annual fee for his service. This is above anything he gets as regular insurance payment. In return for this fee he limits his practice to 600 or...
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11 years ago
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Capital Gain Treatment of Currencies
It is becoming increasingly common for US retail brokerages to let customers hold foreign currencies. Sometimes this is done as an outright currency investment, and other times it is a byproduct of...
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11 years ago
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New Jersey Inheritance taxes and non-resident beneficiaries
The decedent was a NJ resident who left NJ real estate to a non NJ resident Class C beneficiary (sibling) who lives in PA. The total estate is under $200k I understand no NJ estate tax is due since...
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11 years ago
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Explain this letter from the IRS
On our 2011 tax return, as filed, we had payments of $17000, tax of $9391, and an overpayment of $7609 to be credited to our 2012 tax return. Today, we received a letter from the IRS that says, "We...
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11 years ago
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Cancellation of Debt; Valuing Real Estate For Insolvency Calculation
My client had cancellation of debt reported on 1099-C in year 2011. She will likely be able to use insolvency to exclude some or all of the debt cancelled. For purposes of calculating value of her...
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11 years ago
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Parent house in kids name sold
Parent purchase house 10 years agofor 80,000( costs included.). Five years ago has her three childrens names put on deed when the house FMV is 60,000. She goes into assisted living and they sell the...
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11 years ago
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Deferred Revenue and Extended Warranty
What are rules regarding deferring revenue recognition when an extended warranty is included with the tangible product being sold? If the product has one price and the warranty has a separate itemized...
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11 years ago
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Re: In the news: U.S. Supreme Court grants certiorari for "tax protester" claim.
Petition for a writ of certiorari and motion for leave to proceed in forma pauperis filed. (Response due October 11, 2012) It's just another petition, with about a 99.9% chance of being denied. Or...
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11 years ago
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HSA Question - Insurance (Medicare) Payments from HSA.
26 U.S.C. 223(d)(2)(C) specifies that certain Insurance premiums may be paid from an HSA under some conditions. "(iv) in the case of an account beneficiary who has attained the age specified in...
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11 years ago
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Is this a place to discuss wish list for tax programs?
I have used TaxCut and TurboTax (from when it was MacInTax) in the past. I am unhappy with both but have trouble living without one. In particular, most of my suggestions to Turbotax have been...
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11 years ago
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In the news: U.S. Supreme Court grants certiorari for "tax protester" claim.
> On the one hand, I'd like to see the Court rule on the issues and put this matter to bed. On the other hand, I've never met a protestor who would accept or abide by a decision he/she didn't agree...
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11 years ago
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Various 645 Election Issues
Taxpayer established a revocable trust in 2001 and funded with all of his assets. He died in April 2011. Estate was closed in august 2012. What is the latest date to file section 645 election? If none...
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11 years ago
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