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POD or TOD accounts and inheritance tax

POD/TOD accounts goes directly to the beneficiary upon the account owner's death. If that considered a gift or inherita...
4 comments posted 4yrs
posted by obi110212
4 comments posted 4yrs posted by obi110212

Amending NYS return for Misc. Deduction

I use TurboTax and it states that legal fees for Estate tax planning -- fees related to tax planning is a Misc. Deducti...
5 comments posted 4yrs
posted by m8r.jn1sdp
5 comments posted 4yrs posted by m8r.jn1sdp

Reusing FBAR

The FBAR form seems basically (except for some headers) unchanged for years. I don't want to copy all the information a...
2 comments posted 4yrs
posted by larry.israel100
2 comments posted 4yrs posted by larry.israel100

How best to structure a part-time business

How best to structure a small business and pay the least taxes. I’ve retired. In my spare time, I’m about to convert a...
2 comments posted 4yrs
posted by nadcixelsyd
2 comments posted 4yrs posted by nadcixelsyd

Permanent Resident Spouse and Gift Taxes

I am a US citizen. My wife is a permanent resident. We moved to the US roughly 15 years ago and established a joint ban...
15 comments posted 4yrs
posted by motomachita
15 comments posted 4yrs posted by motomachita

Substantial Tax Understatement Penalty Waiver

Not having any dealings for 50+ years with the IRS other than filing taxes each year I now find myself receiving a nice...
1 comments posted 4yrs
posted by someonewatchingyou
1 comments posted 4yrs posted by someonewatchingyou

IRA annuity and RMD

I know that, in computing the RMD, I can aggregate the value of all traditional IRAs and the total of my withdrawals mu...
1 comments posted 4yrs
posted by the_stan_brown
1 comments posted 4yrs posted by the_stan_brown

Wash Sale Mistake

I wanted to take a tax loss so I sold ABCD at a loss, planning to buy EFGH, but I mistakenly bought back ABCD. I bought...
1 comments posted 4yrs
posted by dontspamme
1 comments posted 4yrs posted by dontspamme

IRS thinghy revisited

Paul: So, I posted this, which started another discussion: >>>>>>>>>>>>>>>>>>>>>> I'm VERY surprised the IRS lets it sl...
1 comments posted 4yrs
posted by moo
1 comments posted 4yrs posted by moo

Rejection of e-filed Federal 1040

Using H&R Block to e-file two of my last client's returns and both were rejected. Both were filed 'Married Filing Joint...
2 comments posted 4yrs
posted by nowhere
2 comments posted 4yrs posted by nowhere

Query about savings bonds beyond final maturity

A few questions about a savings bond that is over the 30-yr final maturity thresshold. Assuming one has not declared an...
8 comments posted 4yrs
posted by moo
8 comments posted 4yrs posted by moo

Deposit Check into ILIT Account

I have a question regarding depositing a check into my ILIT checking account to pay the insurance premiums for the poli...
4 comments posted 4yrs
posted by oitbso
4 comments posted 4yrs posted by oitbso

Pandemic Backlog

The Treasury Department and the IRS announced an aggressive plan to end the pandemic inventory backlog this year. Deput...
1 comments posted 4yrs
posted by spamtrap
1 comments posted 4yrs posted by spamtrap

Is it on a transcript?

Someone failed to file returns for a number of years, and lost the 1099s and W-2s sent during that time. Is it possible...
2 comments posted 4yrs
posted by spamtrap
2 comments posted 4yrs posted by spamtrap