Latest threads in Taxes General Forumshow only best voted threads
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Information on Google Groups
Info from Google: Starting on February 22, 2024, you can no longer use Google Groups (at to post content to Usenet groups, subscribe to Usenet groups, or view new Usenet content. You can continue to...
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3 months ago
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Include amended 1040 with 1040-X?
The IRS instructions for Form 1040-X say: Assemble any schedules and forms behind Form 1040-X in the order of the “Attachment Sequence No.” shown in the upper-right corner of the schedule or form....
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3 months ago
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1099-K $600 reporting threshold delayed again; won't apply to 2023
The threshold to report third-party settlements on 1099-K will not be lowered to $600 for 2023. The threshold is over $20,000 with more than 200 transactions. They are planning to lower the threshold...
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4 months ago
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2024 Standard Mileage Rates
Beginning January 1, 2024 to the Tax Cuts and Jobs Act, provisions of which affect 2018 and later, there are fewer instances in which mileage is deductible. The miscellaneous itemized deduction for...
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4 months ago
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Error in IRS Pub 946
IRS Pub. 946, table A-13, page 83 Residential Rental Property Placed in Service After 2017 Straight Line--30 Years Mid-Month Convention Year 1, month 4: is 2.371% Should be (8.5/12)/30 = 2.361% How do...
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4 months ago
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IRA question
I am in my 70s and have an IRA that I inherieted from my mother (who was taking RMDs). The 1099-R from 2022 (which I assume will be similar to this year) shows 13,000 gross dist 13,000 taxable dist...
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4 months ago
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Depreciation of trees
Instructions for IRS Form 4562 says trees that bear fruits or nuts are 10-year property for depreciation. Would trees used to grow truffles (on the roots of the trees) be depreciable? I have read that...
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4 months ago
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Married Filing Separately
Couple is going through a contentious divorce which will not finalize until early 2024. They still will be legally married at end of 2023 and decide independently that each will do a Married Filing...
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4 months ago
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confused on strategy here
$8000 in st loss $22000 in LT gain Suppose I have $3000 in unrealized ST gain. Do I take it now -- would nullify more LT gain (15% bracket) If I wait until 2024, then it might just nullify income...
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4 months ago
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Hiring a handyman
Usually I can get some idea of an answer from the IRS website, but this time I couldn't make head or tail of the requirements for issuing forms 1099. I'm going to hire(*) a handyman this month, and I...
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4 months ago
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Load charge on Mutual Funds
Some mutual funds have x% load charge on purchase and sale. If I buy a mutual fund, say $10K with a 2% load charge, the mutual fund company gets $9,800. What is my cost basis -- 10K? Or 9,800? And...
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4 months ago
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Depreciation conventions
The tax program I am using lists four depreciation calculation conventions: HY = Half Year MQ = Mid-Quarter MM = Mid-Month FM = Full Month In looking at IRS publication 946 How to Depreciate Property,...
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4 months ago
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vacation/rental house is 14-day rule pro-rated ?
We have a house classified as "vacation/short-term rental" on Schedule E. There's a "14-day rule" that's critical in deciding if a house is a personal residence or a business, described in sites such...
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4 months ago
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Form 1041 Deductions
I've been asked if the cost to transfer property (real estate car title) are deductible administrative expenses on Form 1041. According to the IRS administrative expenses are expenses that would not...
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5 months ago
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2023 Form 5695
I just recently installed a roof-mounted Solar panel system on my home, and I am aware that by filing form 5695, I am entitled to a 30% federal tax credit of the total cost, parts and labor. I...
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5 months ago
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