Latest threads in Taxes General Forumshow only best voted threads
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CCH Tax News Headlines - May 16, 2011
CCH Tax News Headlines - May 16, 2011 Federal Headlines: 5/16/2011 - _2012 Deduction Limits for HSAs Released (Rev. Proc. 2011-32)_ ( 5/16/2011 - _Annual and Termination Dividends Not Deductible Until...
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12 years ago
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Form 6781 Foreign Currency Contracts
I have a client that has had losses this year regarding from GFT from Foreign Currency trading.. Does anyone have experience with this form? I know it flows to the D Schedule, but do not know what...
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12 years ago
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what is depletion
what is depletion? It shows up on forms like Schedule C and is evidently a tax break for oil companies. Is it like depreciation that has to paid back? How is it calculated?
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12 years ago
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CCH Tax News Headlines - May 12, 2011
CCH Tax News Headlines - May 12, 2011 Federal Headlines: 5/12/2011 - _Senate Majority Leader Presses to End Oil Tax Breaks as Part of Deficit-Reduction Plan_ ( 5/12/2011 - _Elimination of District...
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12 years ago
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Using IRA Or 401K Money To Buy A Retirement Home
Hi, We are buying a retirement home overseas. AFAIK, we can use IRA money as long as we don't use the property. Then we take it as a distribution when we move in. How difficult is this and can the...
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12 years ago
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Taking Out Mortgage On Current House
Hi, We are planning to take out a mortgage of $300,000 on our house (currently paid off) in order to buy a second home overseas. Is the interest fully tax deductible? Thanks, Gary
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12 years ago
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CCH Tax News Headline - May 10, 2011
CCH Tax News Headline - May 10, 2011 Federal Headlines: 5/10/2011 - _Corporation Could Not Change Accounting Method or Deduct Prepaid Expenses (Lattice Semiconductor Corp. & Subs., TCM)_ ( 5/10/2011 -...
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12 years ago
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No 1099R for Shares Sold in Traditional IRA Account
I'm sorry long story: I turned age 70 on Feb 29, 2010 and was 70 1/2 on Aug 29, 2010. In my Traditional IRA account, I sold 100 shares of PMCTX on 5 Oct 2010 for $1578 (early distribution)and again...
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12 years ago
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CCH Tax News Headlines - May 9, 2011
CCH Tax News Headlines - May 9, 2011 Federal Headlines: 5/9/2011 - _Retirement Facility Entrance Fees Pledged as Security for Bond Were Not Replacement Proceeds (TAM 201118012)_ ( 5/9/2011 - _Final...
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12 years ago
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US tax for US citizen minor child of non-resident aliens
Alice and Bob are non-US citizens not living in the US -- that is, non- resident aliens. They have a son Charles, who is a US citizen since he was born while Alice and Bob were living in the US....
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12 years ago
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Liability Limitation?
I was given a "Terms and Conditions" sheet by an accountant and was surprised to see that he limited his liability for anything at all to what he was paid for the work. That shocked me, but maybe it...
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12 years ago
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asset transfers to living trust
A parent wishes to establish a revocable or irrevocable trust for a child. Cash and real estate will be placed in the trust. Can the parent transfer their unused capital losses to the trust to offset...
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12 years ago
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Trying to E-file IRS automated system telling me I don't need a PIN to enter 0 for my prior year AGI...??
So far my first attempt at E-filing through FreeTaxUSA has been a pain. It got rejected using my prior year AGI - despite using the number given to me by the IRS - so I thought I'd try using a PIN....
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12 years ago
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CCH Tax News Headlines - May 5, 2011
CCH Tax News Headlines - May 5, 2011 Federal Headlines: 5/5/2011 - _Baucus Backs Budget Trigger to Control Debt_ ( 5/5/2011 - _IRS Reviewing Equitable Innocent Spouse Rules, Shulman Tells Lawmakers_ (...
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12 years ago
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feic and ftc
Can you elect how much of your foreign earned income exclusion you want to include for the foreign earned income exclusion on form 2555? My thinking is that if you make like 50k, you can only claim...
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12 years ago
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