Taxes General Forum

CCH TAX NEWS HEADLINES - September 30, 2011

CCH TAX NEWS HEADLINES - September 30, 2011 _Guidance Released on Portability Election (IR-201197; Notice 2011-92)_...

0 comments posted 14yrs

posted by TaxService

0 comments posted 14yrs posted by TaxService

Are "special assessments" added to home's cost basis?

My California property tax bill (for a single-family residence) is divided into three parts: 1) assessed value rate 2)...

22 comments posted 14yrs

posted by ss.mtm

22 comments posted 14yrs posted by ss.mtm

Twist on renting 2nd home

A client who resides in Wisconsin purchased a 2nd home in Florida and rented it at FMV to my daughter. He also spends 5...

9 comments posted 14yrs

posted by waltxj

9 comments posted 14yrs posted by waltxj

"liquifying" Annuity with annuitizing

I have a Jackson Perspective L Series Fixed & Variable Annuity. I'm age 65. Wanted to annuitize so I can start withdraw...

0 comments posted 14yrs

posted by sandyhb6

0 comments posted 14yrs posted by sandyhb6

Simplest Way to Do Accounting for Employee Use Vehicle

I am trying to understand what is the simplest way for an S-Corporation to do the accounting for a vehicle that is used...

1 comments posted 14yrs

posted by persistentone

1 comments posted 14yrs posted by persistentone

Changing an Inherited IRA

My 92 year old mother inherited an IRA from her husband 3 years ago. It was titled Fbo "Mothers Name" INHERITED IRA, AS...

3 comments posted 14yrs

posted by prpfeifaa

3 comments posted 14yrs posted by prpfeifaa

CA FTB Audit of Cancellation of Debt Income & 1099-C

The latest newsletter from the CA FTB provides information on an audit they performed on the reporting of CODI by CA ta...

0 comments posted 14yrs

posted by sfcnm-mtm

0 comments posted 14yrs posted by sfcnm-mtm

Schedule L--2010 ..Does IRS Permit Standard Deductions PLUS Real Estate Taxes?

I just want to be certain that the law as to Schedule L (permitting Standard Deduction PLUS state/local real estate tax...

1 comments posted 14yrs

posted by Temprock

1 comments posted 14yrs posted by Temprock

CCH Tax News Headlines - September 29, 2011

CCH Tax News Headlines - September 29, 2011 _Individuals Did Not Have Cancellation of Indebtedness Income for Tax Year...

0 comments posted 14yrs

posted by TaxService

0 comments posted 14yrs posted by TaxService

Standing to claim asset

I was sure that I knew the answer to this question, but was told by a CPA that I was wrong. Please help: Situation 1: D...

0 comments posted 14yrs

posted by usenet307

0 comments posted 14yrs posted by usenet307

Self Employed Health Care Deduction--Are Payments for Medicare Included?

For 2010 the instruction book for Form 1040 (at page 29 for Form 1040 Line 29) clearly says Premiums paid for Part B Me...

8 comments posted 14yrs

posted by Temprock

8 comments posted 14yrs posted by Temprock

Paying Someone Else's Deductible Expense

A question pops up every so often (10 years or less) asking whether the taxpayer can deduct the property taxes or mortg...

14 comments posted 14yrs

posted by sfcnm-mtm

14 comments posted 14yrs posted by sfcnm-mtm

Why didn't the IRA process my return, and what does it mean?

I sent in an amended 2007 1040 on 4/12/11, according to my certified mail receipt. I was carrying back foreign tax cred...

1 comments posted 14yrs

posted by wade

1 comments posted 14yrs posted by wade

CCH Daily State and Federal Tax News Headlines - September 28, 2011

CCH Daily State and Federal Tax News Headlines - September 28, 2011 _? Older posts_ (http://www.cchgroup.com/wordpress/...

0 comments posted 14yrs

posted by TaxService

0 comments posted 14yrs posted by TaxService

CCH Tax News Headlines - September 27, 2011

CCH Tax News Headlines - September 27, 2011 _Spouse Entitled to Innocent Spouse Relief Regarding Disallowed Gambling Lo...

0 comments posted 14yrs

posted by TaxService

0 comments posted 14yrs posted by TaxService