Latest threads in Taxes General Forumshow only best voted threads
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CCH Tax News Headlines - February 22, 2011
CCH Tax News Headlines - February 22, 2011 Federal Headlines: 2/22/2011 - _New 1099 Reporting Requirements for Landlords_ ( State Headlines: 2/22/2011 - _All States --Multiple Taxes: D.C. Circuit...
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13 years ago
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Statute of Limitations Issue
Taxpayer paid taxes late, more than three years after the due date. If he had filed on time, he would have gotten a refund due to the earned income credit. After the return was finally filed, the IRS,...
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13 years ago
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Errors in 1099-MISC - no way to e-file now?
Hi all, A client sent me 1099-MISC for 2010 that includes in its total a payment that was actually made in 2011 (although it's for services rendered in Dec 2010). It appears to be a clerical error and...
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13 years ago
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client included reimbursed mileage expense with income in box 7 of 1099 MISC
My client has included reimbursed mileage expenses along with the amount I billed (for hours) as one lump sum in box 7 (income) of the 1099 MISC. My question is; is this correct? If so, how do I...
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13 years ago
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Bad debt question
Some time ago, I made a real estate loan investment, with the loan being secured by the deed of the property involved. The idea was that the debtor would use the money to purchase a run-down property...
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13 years ago
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Taxcut Deulxe2010 -have sched E?
1. Does TaxCut Deluxe 2010 have the schedule E Rent and Royalties or do I spend the extra $20 for the Premium version? 2. I moved my rollover IRAs directly from a broker to a bank - does that require...
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13 years ago
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Calculating part-year depreciation on rental property.
On June 30 2010 I converted a rental property to use as a personal residence. 2010 was the tenth year of depreciation in a 27.5 yr. straight line recovery method. Using the mid-month of June as my I...
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13 years ago
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Form 1116 Foreign Tax Credit
I get a supplemental schedule from Vanguard on Foreign Taxes Paid: 1. Foreign Tax $ 2. Foreign Income $ 3. QDI Foreign Income $ 4. Foreign Income $ After QDI Adjustment Which of the numbers (#2, #3,...
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13 years ago
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Buy Car in 2009 pay sale tax in 2010?
TurboTax tells me that if I bought a car in 2009 and paid the sale tax in 2010 the tax is deductible in 2010. Can someone explain under what type of purchase deal one can by a car and pay taxes much...
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13 years ago
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maximum number of exemptions
What's the maximum number of exemptions I can claim to have no withholding? If I find that my withholding so far this year puts me in prior year safe harbor, then it is not necessary to withhold any...
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13 years ago
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Hypothetical tax queston
Andy asks: Let us assume that a motion picture company offers me a salary of one million dollars to perform in a film. I tell them " Instead of giving me one million dollars, just set up an annuity...
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13 years ago
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Multiple 1099s for the same fund
My wife and I jointly owned shares in a mutual fund. She passed away last year, so I changed ownership to individual. Later, the mutual company changed the class of my mutual fund. So I have three...
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13 years ago
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Unemployment Compensation
If it's later (like in a subsequent year) determined that a person who received Unemployment Compensation was actually ineligible, and the person returned the money, how is it fixed on tax returns? If...
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13 years ago
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EE US Savings Bond Interest 1992-1994
I need to find out the dollar value of interest earned per year on a $5,000 US EE Savings bond purchased in 09/1992. for the years 1992, 1993 and 1994. The Govenment's Treasury Direct website bond...
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13 years ago
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Change from Roth 401(k) to pre-tax 401(k) to get back full child tax credit and avoid AMT?
Lucky for me, my income is sufficiently high that I lost a good chunk of the child tax credit on my 2010 taxes and also had to pay around $500 in AMT. D'oh! I'm trying to figure out how to take some...
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13 years ago
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