Taxes General Forum

Are tax talbes permissive or mandatory?

The instructions for form 1040 tell us to use the tax tables if our taxable income is below a certain amount, and the t...

8 comments posted 5yrs

posted by the_stan_brown

8 comments posted 5yrs posted by the_stan_brown

NYS UI Payments

I own and operate a one-employee C Corp in New York State, with me as the sole employee. For years I have paid my New Y...

0 comments posted 5yrs

posted by vicroberts

0 comments posted 5yrs posted by vicroberts

Paying a foreign person

I asked a similar question a few years ago but it appears the rules may have changed. I run a small 501(c)(6) non-profi...

4 comments posted 5yrs

posted by johnl

4 comments posted 5yrs posted by johnl

Capital Loss if owe no tax

Should I take a loss on a mutual fund (non-IRA) for TY2020, if otherwise I owe no (ie, zero) tax this year, due to not...

5 comments posted 5yrs

posted by Retired"

5 comments posted 5yrs posted by Retired"

Sold Property in Panama

In 2011, I purchased an investment property in the county of Panama. Last week I sold the property and had the net proc...

0 comments posted 5yrs

posted by dwyermona

0 comments posted 5yrs posted by dwyermona

Foreign tax credit

In March, I mailed my Federal return. Last week, I received a letter from the IRS stating that I need to provide them w...

0 comments posted 5yrs

posted by mstemper

0 comments posted 5yrs posted by mstemper

Trust donations

Can charitable contribution made out of Lorraine's trust be deductible as a charitable contribution on her husband's tax...

5 comments posted 5yrs

posted by cymccorm

5 comments posted 5yrs posted by cymccorm

1244 loss

What if the startup we invested in went belly up a year or so ago but we did not know about it? According to IRS form 1...

0 comments posted 5yrs

posted by jenny.sharp

0 comments posted 5yrs posted by jenny.sharp

Capital vs Income losses question

This is not a political question Regarding the extremely large loss that Trump declared in his IRS returns in earlier y...

1 comments posted 5yrs

posted by jessica.beltz

1 comments posted 5yrs posted by jessica.beltz

Can I ignore a minor corrected 1099D?

My son did his own taxes for the first time this year. When he gets his own cell phone account he will be an adult! Etr...

6 comments posted 5yrs

posted by wadelippman

6 comments posted 5yrs posted by wadelippman

IRS Form 709

Is the form 709 for gift tax exclusion filed with a return or separately? tks all BW

8 comments posted 5yrs

posted by bh2os62

8 comments posted 5yrs posted by bh2os62

Client never paid the $695 IRS penalty for not having health insurance in tax year 2017.

Client just received a letter from IRS. Client never paid the $695 because her tax person suggested she not pay it and...

4 comments posted 5yrs

posted by pcogan

4 comments posted 5yrs posted by pcogan

Question on QBI

Question on QBI re 2019 taxes Re: form 8995 QBI-Business Income deduction calculation *********************************...

1 comments posted 5yrs

posted by jenny.sharp

1 comments posted 5yrs posted by jenny.sharp

Where do I enter Health Ins premiums?

RE: IRS form 1040 for 2019 ******************** I have filed an extension and have to file the 1040 by Oct 15th, 2020 A...

0 comments posted 5yrs

posted by jenny.sharp

0 comments posted 5yrs posted by jenny.sharp

SSN / Name mismatch

Hi I had to send my 2019 return by mail (in July). When I checked "Where's my Refund", it now says: + We have not proce...

3 comments posted 5yrs

posted by spras2rao2

3 comments posted 5yrs posted by spras2rao2