Taxes General Forum

ReaL estate tax deduction on top of standard deduction?

IIRC, one was allowed to claim a real estate tax deduction for 2009 returns even if you used a standard deduction. There...

2 comments posted 15yrs

posted by SalmonEgg

2 comments posted 15yrs posted by SalmonEgg

IRS Asks Court to Release Property Tax Records to Catch Gift Tax Nonfilers

The IRS is trying to serve a John Doe summons on the California BOE to obtain its property transfer records. http://goo....

8 comments posted 15yrs

posted by sfcnm-mtm

8 comments posted 15yrs posted by sfcnm-mtm

Capitalize or expense equipment >1y <$100

Should I capitalize or expense equipment with a useful life of more than one year, but which doesn't cost a whole lot (...

3 comments posted 15yrs

posted by leec

3 comments posted 15yrs posted by leec

Illinois experts: nonresident with an IL NOL

Client is in a couple of partnerships that have Illinois activities. The IL source income is a loss. Does the client ha...

2 comments posted 15yrs

posted by garyg7

2 comments posted 15yrs posted by garyg7

CCH Tax News Headlines - March 28, 2011

CCH Tax News Headlines - March 28, 2011 Federal Headlines: 3/28/2011 - _Weekly Report from Washington, D.C._...

0 comments posted 15yrs

posted by TaxService

0 comments posted 15yrs posted by TaxService

2010 Schedule SE, Health Insurance, two Schedule C's

Hi everyone. Taxpayer is married filing jointly. Both spouses have schedule C income, one income being above the $106,8...

7 comments posted 15yrs

posted by spope33

7 comments posted 15yrs posted by spope33

Foreign Earned Income Exclusion

If one stops taking the foreign earned income exclusion without enclosing a note that this is being done, need an amend...

1 comments posted 15yrs

posted by larry.israel

1 comments posted 15yrs posted by larry.israel

Does a partnership automatically terminates when there is only one owner left?

A partnership started the year with 2 partners. One partner buy out the other on 6/30/3010. Does the partnership termina...

3 comments posted 15yrs

posted by 0b3hks001

3 comments posted 15yrs posted by 0b3hks001

Foreign inheritance

According to one of the threads in this group, a gift or inheritance from a foreign person to a U.S. person is not taxa...

3 comments posted 15yrs

posted by cpeters5

3 comments posted 15yrs posted by cpeters5

Revocable Trust with an EIN. Who pays the tax?

A revocable trust was set up with an EIN. I understand it should have been set up with a SS# to flow back to the tax pa...

0 comments posted 15yrs

posted by 704set

0 comments posted 15yrs posted by 704set

Ohio Source Income

We had a TCE client yesterday who is a MD resident and the sole beneficiary of a testamentary trust managed in Ohio. Th...

4 comments posted 15yrs

posted by prm20871

4 comments posted 15yrs posted by prm20871

NYS Non-Res K1 question

I received a NY Schedule K1 equivalent resulting from the income tax on my mother's estate. She was a NYS resident, but...

0 comments posted 15yrs

posted by ron

0 comments posted 15yrs posted by ron

Donating Appreciated Stock

I read a comment by an investor today who said: "I purchased 1,000 shares on Jan. 14, 2009, for $4,255; 1,000 shares on...

16 comments posted 15yrs

posted by persistentone

16 comments posted 15yrs posted by persistentone

Amending 1040 too soon?

I e-filed my tax return on 3/12/11 and it was accepted the next day. After I filed, I realized that I left off a charit...

3 comments posted 15yrs

posted by bfgl3hx

3 comments posted 15yrs posted by bfgl3hx

Form 1099-S

Does one get an inheritance by way of a 1099-S? And does the amount on a 1099-s *have* to end up on the tax return? If...

8 comments posted 15yrs

posted by kingfish02375

8 comments posted 15yrs posted by kingfish02375