Taxes General Forum

CP80 Form Received re 2020 taxes, and Re-Sending Of: What Is It, Please

Hello, I just received a CP80 form for my 2020 taxes saying that I have a credit, but that I must send them a newly sig...

2 comments posted 4yrs

posted by rgsrose2

2 comments posted 4yrs posted by rgsrose2

Last year filing 943 with no payroll

So, I'm working on closing out a small Sch. C business that had no employees or income in 2021. I know there is a provi...

2 comments posted 4yrs

posted by nowhere

2 comments posted 4yrs posted by nowhere

Inherited IRA RMD/QCD question

I have an IRA I inherited from my father. Because it is an inherited IRA, I have to take an RMD even though I am under...

1 comments posted 4yrs

posted by johnl

1 comments posted 4yrs posted by johnl

Michigan K-1 with loss on estate sale - non-resident

As part of the final settlement of my mother's estate, I received an MI-1041 Sch K-1 showing a long-term capital LOSS o...

2 comments posted 4yrs

posted by Retired"

2 comments posted 4yrs posted by Retired"

Tax Basis of like-kind gifts to a U.S. "foreign Trust"

U.S. foreign trust = a trust governed by U.S. law but treated as a foreign trust for tax purposes. Normally, when a don...

1 comments posted 4yrs

posted by m8r.jn1sdp

1 comments posted 4yrs posted by m8r.jn1sdp

Form 709 for Two Donees

If I give gifts that exceed the gift tax exclusion amount to two donees, do I file two Forms 709 or do I report both on...

2 comments posted 4yrs

posted by vicroberts

2 comments posted 4yrs posted by vicroberts

K-1 with Estate Beneficiary Loss on sale

In 2007 the our mother of 4 boys died. Estate to be 25% each. Brother A was executor of estate, I'm Brother B. Part of...

3 comments posted 4yrs

posted by Retired"

3 comments posted 4yrs posted by Retired"

Ways To Accelerate Income Post-December 31?

I am retired and age 64 and try to manage my taxable income to optimize my multi-year taxes. I have appreciated securit...

1 comments posted 4yrs

posted by dontspamme

1 comments posted 4yrs posted by dontspamme

Blog for VITA Volunteers To Post Queries About Taxslayer Training Software?

Is there one? I suspect the Taxslayer training software may not be set up to deal with the refundable (new for 2021) ch...

5 comments posted 4yrs

posted by honda....

5 comments posted 4yrs posted by honda....

Did the IRS Get My 2020 1040?

I filed my 2020 1040 in June (I am overseas, so I was still within the time limit). I had a refund coming, but it has n...

1 comments posted 4yrs

posted by larry.israel100

1 comments posted 4yrs posted by larry.israel100

Deferring capital loss from 2021 to 2022?

OK, let's say in late December, 2021, you buy 1000 sh. of XYZ at 10 and sell it at 9, so you lose $1000. Furthermore, s...

4 comments posted 4yrs

posted by moo

4 comments posted 4yrs posted by moo

Can RMD money be used to invest in a new IRA?

If a person is semi-retired but still working, and is obligated to take out the RMD, could some of the RMB be reinvested...

1 comments posted 4yrs

posted by debbie.lafourche

1 comments posted 4yrs posted by debbie.lafourche

Form 940 Issues

My consulting company is organized as a C Corp with one employee, me. As such I file Forms 940 and 941. Today I have tw...

1 comments posted 4yrs

posted by vicroberts

1 comments posted 4yrs posted by vicroberts

State Tax Refund handling in TurboTax

If income tax for 2020 was revised after several months of filing to correct an error and TurboTax was used to correct...

4 comments posted 4yrs

posted by debbie.lafourche

4 comments posted 4yrs posted by debbie.lafourche

Like-Kind Exchange

Some foreign stocks trades on the OTC under 2 symbols. e.g. BYDDF and BYDDY are both for BYD Company Ltd. The differenc...

4 comments posted 4yrs

posted by m8r.jn1sdp

4 comments posted 4yrs posted by m8r.jn1sdp