Latest threads in Taxes General Forumshow only best voted threads
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Questions about IRAs
My son is 25 with $3,500 in 401K at a place he worked at for most of 2011, but left last month. He is currently doing temp work. He does not have an IRA. His 2011 AGI was $45,000. My best guess is...
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12 years ago
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What computation is necessary to carry forward a Foreign Tax Credit?
I had $400 in foreign taxes in 2009 and $400 (lines 9) in 2010, but could only use $0 and $300 (lines 21) of them respectively. This year I have another $400 in foreign taxes (line 9), but my...
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12 years ago
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consequence of amending 2010 tax return on 2011 tax return
Hi everyone. I am currently amending my 2010 tax return by claiming business expenses, thus lowering my 2010 adjusted gross income. As a result, I am going to have to correct my (still unfiled) 2011...
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12 years ago
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federal carryover worksheet
I had a state overpayment in 2010, and I allocated that overpayment (as a credit) to my 2011 state estimated taxes account for the first quarter of 2011. According to my accountant, that amount should...
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12 years ago
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What is the IRS doing?!
Last March I filed a 2007 1040X to carry my 2008 Foreign tax credit back to 2007. When I didn't hear from them for 6 months I called. They claimed they sent me a registered letter (they didn't)...
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12 years ago
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pushing the envelope?
I can't e-file since I didn't file in 2010. Now, I have to mail all my stuff in. Can someone recommend a good place to get an evelope for this? Or should I just fold all the stuff up and shove it in a...
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12 years ago
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Health Ins deducted from pension
If you pay health insurance through your pension, is that pretax...and thus not included in Medical expenses on Sch A?
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12 years ago
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interest from forgiven loan
Mother made two loans to son money in 2007 at interest rates that equaled or exceeded the AFR. (One loan called for interest to be paid annually, the other quarterly.) In 2011, Mother forgave the...
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12 years ago
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Q: Tax responsibility for insurance compensation?
Friends of mine received insurance compensation for an auto accident they suffered. They are self-employed, and aren't sure how to account for the insurance payment on their 2011 income tax. They...
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12 years ago
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ADR and IRA fees
So - where do you think Stock ADR fees and IRA account fees might be entered ?
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12 years ago
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1099 Question on various tax forms - schedule F, schedule C, etc.
Just wanting feedback on how others would suggest handling this or how they are suggesting clients handle this. On the various business forms this year - including Schedule F and C for Form 1040 (and...
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12 years ago
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Profit From Flipping a House
I bought a house in 2011 as an investment, incurred expenses while rehabing, but I didn't sell it until 2012. Do I list all my expenses through Dec 31, including the purchase price, on the 1040...
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12 years ago
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Confused regarding payment options
During a multi-year period of unemployment, I withdrew funds from my IRA several times to make mortgage payments. Taxes on last year's withdrawals are due - and I will not be able to pay them on April...
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12 years ago
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Hearing Aid Warranty Deduction
Pub 502 states: You can include in medical expenses the cost of a hearing aid and batteries, repairs, and maintenance needed to operate it. Would the cost of an Extended Warranty come under the...
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12 years ago
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Divorced in 2011 - how file taxes with IRS/NYS for 2011?
Divorced in 2011. Although the judge signed the final papers in Dec 2011 does NYS and the IRS for tax purposes consider that I am divorced based on the date of the 'Stipulation of Settlement and...
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12 years ago
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