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Itemized Deduction Recovery

I received a check from a class action lawsuit about overcharges the company I retired from made on health care costs....
4 comments posted 14yrs
posted by shiflettcc
4 comments posted 14yrs posted by shiflettcc

Is this income taxable or is it a gift?

The educational institution from which I retired about ten years ago has decided to give retirees $500 to help defray t...
6 comments posted 14yrs
posted by ritagoldberg
6 comments posted 14yrs posted by ritagoldberg

Tax on sale of gifted personal property

If someone receives utems as a gift and later sells it, say on ebay, how does that income get taxed? If it is a capital...
2 comments posted 14yrs
posted by SalmonEgg
2 comments posted 14yrs posted by SalmonEgg

Round 2 on Estate Tax

My wife's sister wrote the following about their mother's estate: Her accountant said "The info needed is not the value...
7 comments posted 14yrs
posted by rdadams
7 comments posted 14yrs posted by rdadams

Interplay of indiv 401(k) and health insurance

Question is for sole proprietorships (Sched C filers), regarding elective contributions (deductible vs. Roth), in the p...
0 comments posted 14yrs
posted by nBeOwXs
0 comments posted 14yrs posted by nBeOwXs

Return of Capital

Many of my transactions on Ginnie Maes are returns on capital. My broker reports those to the IRS as capital gains. Whe...
9 comments posted 14yrs
posted by suenjim4.badaddress
9 comments posted 14yrs posted by suenjim4.badaddress

Estate Taxes: Form 8939 Challenges

For those of you involved with having to file Form 8939, the following article from BNA is informative especially the p...
0 comments posted 14yrs
posted by sfcnm-mtm
0 comments posted 14yrs posted by sfcnm-mtm

Credit Card foreign currency fee settlement

I recently received a refund from the settlement of the credit card foreign currency lawsuit. I cannot find any referen...
2 comments posted 14yrs
posted by adwagner
2 comments posted 14yrs posted by adwagner

Company in Maryland but employee in Georgia

I am a small Corporation(1120 form filing). One of my employee works in Atlanta GA, but my company revenue base is from...
24 comments posted 14yrs
posted by purirb123
24 comments posted 14yrs posted by purirb123

Converting Main Home to Rental: Depreciation

There is a special rule that one must use when computing depreciation on converting your home to a rental. You must use...
7 comments posted 14yrs
posted by sfcnm-mtm
7 comments posted 14yrs posted by sfcnm-mtm

Trouble with Estate Tax

My Mother-in-Law died in July of '09. Her estate was not disbursed until March of '10. I'm certain we have a loss from...
2 comments posted 14yrs
posted by rdadams
2 comments posted 14yrs posted by rdadams

Estate tax, debts, and life insurance benefits

Andy asks: I read with interest the replied on Estate tax TOD/POD and am wondering if the same reasoning applies to lif...
6 comments posted 14yrs
posted by jungleandy1
6 comments posted 14yrs posted by jungleandy1