Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
estimated tax penalties
This might be a naive question! I was just preparing my 1040-ES, and it occurred to me that with treasury rates so high at the moment, it might be worth just keeping it and paying the penalty instead....
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California Middle Class Tax Refund 2022
Hi. I heard that the California Middle Class Tax Refund 2022, is not taxable. But, I got a 1099 Misc. Is it not taxable by the state? Or taxable by both. Thanks.
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Taxability of Roth conversion of individual IRA when there's also a SEP-IRA?
A self-employed family member accidentally contributed some money to their individual IRA that they meant to go to their SEP-IRA (Vanguard's UI can be confusing on this). That alone isn't a problem...
 
Car & Truck Expense Sheet
Hi. I had a car that I used in the past for business from 2014 to 2017 and used the depeciation method. Startin in 2018, I used another car that I have and used the standard deduction method. In 2021,...
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1099-K income from eBay, estimated taxes?
Started an ebay business, do I need to pay estimated taxes as I have no idea how much I will make each quarter. Thanks.
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How to handle being in parent's marketplace plan but not being a dependent?
I'm doing my nephew's tax return which is entirely straightforward (all he has is a W-2) except for one thing: * Nephew is 25 * Nephew is NOT a full-time student * Nephew is NOT anyone's qualifying...
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income tax filing extension
I have been reading about the income tax filing extension to October 16 for locations experiencing destructive storms this past winter. I live in the part of California that was affected. I’m...
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Non-Equity Partner in Law Firm
Does a person who is a non-equity partner in a law firm always receive a W-2, or can they sometimes receive a K-1. Or, put another way, if a non-equity partner in a law firm receives a K-1 instead of...
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OT: Brother HL-L2380DW or 2390DW printer
Apologies for the off-topic post; I don't see any more suitable newsgroup. My trusty old HL-L2380DW is getting near to replacement. I see some new (unused) ones, but in the $350-$400 range. The...
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Nonrefumdable credits and estimated tax
A nonredundable credit for 2022 was larger than my tax on Form 1040 line 16, so total tax (line 24) was zero for 2022. I had no refundable credits. As I understand it, after reading instructions for...
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IRS Deferred Payment Options
My son just realized he and his wife will owe $5000 on their joint taxes for 2022, due mainly to his wife starting a new job in 2022 and not calculating her exemptions correctly (i.e.,...
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Which Year to Report
An employer paid a new employee a signing bonus in 2022 (withholding all necessary taxes). The employee didn't last to fulfill his commitment, so paid back the bonus in 2023. The employer just wants...
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California tax advantage of California community property vs. Joint Tenancy
I understand that community property has a tax advantage upon the death of a spouse where no capital gains will be paid by the surviving spouse. Whereas, in case of joint tenants, the surviving spouse...
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(Medical expenses, 1040)Reaching out-of-pocket maximum and including amount in medical expenses.
Suppose through work you've reached your maximum out of pocket payment insurance maximum, say, $2000, for the year, at which point the insurance company pays any amount over the two grand. Suppose you...
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Fair Rental Days? - Schedule E
I changed tax preparers this year. All preparers are with large, national firms, who have also handled my investments. I've had a short term rental property from 2015 - 2022, that is rented thru VRBO...
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