Taxes General Forum

Gambling Winnings

Assume you travel regularly to Las Vegas for recreation. During a year you pay $10,000 in total travel expenses and win...

8 comments posted 5yrs

posted by dontspamme

8 comments posted 5yrs posted by dontspamme

Cost Basis

in 2019, I bought a long-term call on SLV (Silver Trust ETF) -- for an Option Premium of $100 (=$1/sh.), with an exerci...

0 comments posted 5yrs

posted by m8r.jn1sdp

0 comments posted 5yrs posted by m8r.jn1sdp

Virginia Self-Employment Tax

Does anyone know if Virginia has a self-employment tax? During the 80's Virginia law required people who took a deducti...

2 comments posted 5yrs

posted by spamtrap

2 comments posted 5yrs posted by spamtrap

Unknown IRA Withdrawal

Here's an interesting one. OP claims he had his IRA trustee roll his IRA over into an account at another bank because t...

2 comments posted 5yrs

posted by spamtrap

2 comments posted 5yrs posted by spamtrap

Double Payment of Stimulus Check?

There have been some odd situations with stimulus payments, but it occurs to me that this could be a scenario where the...

0 comments posted 5yrs

posted by rick

0 comments posted 5yrs posted by rick

Contribution of Unused Attendance Fees

I have "payed", in 2019, for two events run by charities. The event charges were not tax deductible. Both events were c...

1 comments posted 5yrs

posted by marcausl

1 comments posted 5yrs posted by marcausl

stimulus bill question

In 2020 my AGI is under $160K. Taxes have been filed (jointly) It was over $160K in 2019. Can I assume they will use the...

9 comments posted 5yrs

posted by moo

9 comments posted 5yrs posted by moo

Trying to fill out Form 966 for dissolving S Corp

I am trying to fill out form 966 for IRS Corporate Dissolution. The number of shares outstanding amount. Is that ever o...

0 comments posted 5yrs

posted by sunnyguide2020

0 comments posted 5yrs posted by sunnyguide2020

Any way to protect this gain?

I am retired with a huge long term capital gain, say 500 sh of XYZ. My plan is to leave it to my children so they will...

0 comments posted 5yrs

posted by moo

0 comments posted 5yrs posted by moo

EIN questions - when is a new one needed?

Situation: * Relative started business #1 years ago as a sole prop. * Relative got an EIN and used it to open a solo 40...

1 comments posted 5yrs

posted by rlcarr

1 comments posted 5yrs posted by rlcarr

1099R withdrawl Cares Act

I am 75, will my RMD from a 1099R be eligible for the Cares act provision of spreading the amount over 3 years (providi...

0 comments posted 5yrs

posted by bh2os62

0 comments posted 5yrs posted by bh2os62

screwed up--do I have to file an ammended return

OK, I filed using TT. My return was accepted and I am awaiting my refund of about $9K Fed and $4K State ( I overwithhel...

1 comments posted 5yrs

posted by moo

1 comments posted 5yrs posted by moo

Stimulus Checks and tax returns

A friend has income substantially below $75K; and filed joint return with her husband in 2019. The combined income is o...

2 comments posted 5yrs

posted by m8r.jn1sdp

2 comments posted 5yrs posted by m8r.jn1sdp

CP2000 and K-1

Part of a CP2000 ("mini audit") I received from IRS is saying that they've received a K-1 showing dividend and interest...

2 comments posted 5yrs

posted by jge

2 comments posted 5yrs posted by jge

Joint Return???

I got a question and don't even know where to start looking for an answer to this. Any insight would be appreciated. Ta...

4 comments posted 5yrs

posted by spamtrap

4 comments posted 5yrs posted by spamtrap