Taxes General Forum

IRS Chief Counsel Memo: Timely Amendments To Refund Claims

BNA has a nice report on a recent CCA from the IRS Office of Chief Counsel. It sheds some light on when a claim for ref...

0 comments posted 14yrs

posted by tempuser

0 comments posted 14yrs posted by tempuser

Unemployment compensation - category for foreign tax credit

Here's a bit of a weird question. When claiming a foreign tax credit using Form 1116, income needs to be categorized. S...

7 comments posted 14yrs

posted by davidrosenbaum

7 comments posted 14yrs posted by davidrosenbaum

Foreign Tax Carryforward...

I have several thousand in foreign tax credits I haven't been able to use because I haven't had enough income. I know I...

2 comments posted 14yrs

posted by *

2 comments posted 14yrs posted by *

Investment Interest Deduction

I know that to deduct interest on a loan obtained to buy a person's residence, the loan must be secured by a mortgage....

5 comments posted 14yrs

posted by spamtrap

5 comments posted 14yrs posted by spamtrap

Any tax consequences to swapping accounts with my wife?

My wife and I have accounts at Fidelity, and I have an account at Etrade. I want to move everything from her Fidelity a...

8 comments posted 14yrs

posted by *

8 comments posted 14yrs posted by *

Lump Sum SS Correction

In 2011 my wife, who has been on SS disability for many years and is now on retirement, received a rather large single...

2 comments posted 14yrs

posted by hvsteve1

2 comments posted 14yrs posted by hvsteve1

trust K1 questions

If a trust owns rental real estate that has an operating loss for the year, and other income (interest, dividends) are...

4 comments posted 14yrs

posted by PicoRico

4 comments posted 14yrs posted by PicoRico

Citizen Married to Non-resident Alien

A US citizen living overseas, with two citizen children and a non-resident alien husband. The husband supplies over hal...

8 comments posted 14yrs

posted by VSLARRY

8 comments posted 14yrs posted by VSLARRY

Take all my unrealized capital gains this year?

I have no income other than investment income. In bad years I generally pay no tax. In good years I fall into AMT and p...

5 comments posted 14yrs

posted by *

5 comments posted 14yrs posted by *

winding up trust with loss carry forwards

a trust has had net losses for several years, primarily due to commercial real estate. The trust will be wound up, eith...

4 comments posted 14yrs

posted by PicoRico

4 comments posted 14yrs posted by PicoRico

Taxes on Lawsuit Settlement Income

In 2010 I received $10,000 from a lawsuit which was settled out of court. The payment was from a real estate firm that...

2 comments posted 14yrs

posted by mguz

2 comments posted 14yrs posted by mguz

Trivial Question -- Completely Unimportant

If one makes a mistake, either in arithmetic or copying from source documents, in filling out 1040 and schedules A,B, a...

2 comments posted 14yrs

posted by VSLARRY

2 comments posted 14yrs posted by VSLARRY

Taxes Re: repayment of misappropriated funds

John Smith is the majority stockholder of ABC Corp. In 2007 ABC pays Smith a $1M bonus. In 2012 the minority stockholde...

10 comments posted 14yrs

posted by *

10 comments posted 14yrs posted by *

Decedent and Estate

Does a decedent need to file a personal income tax return for his final, partial year, if his income is such that he wo...

5 comments posted 14yrs

posted by PicoRico

5 comments posted 14yrs posted by PicoRico

529 vs tax credit vs ???

We have a 529 account setup for our son at UW/Madison.... a soph. It is setup with the Illinois Brightstart program. As...

4 comments posted 14yrs

posted by pschuman_no5pam_m3

4 comments posted 14yrs posted by pschuman_no5pam_m3