Taxes General Forum

If I swap stocks with my wife, it that a tax event?

My wife and I have individual accounts with the same brokerage. We each have many of the same holdings. I would like to...

1 comments posted 6yrs

posted by wadelippman

1 comments posted 6yrs posted by wadelippman

2 claiming same dependent

Sister is claiming her grand daughter(GD) for past 4 years. She satisfied IRS requirement for being able to claim her....

1 comments posted 6yrs

posted by bh2os62

1 comments posted 6yrs posted by bh2os62

1041 and 1116

I am using a tax program to do a 1041 trust tax return. The trust has some tax exempt interest of 66 ordinary dividends...

2 comments posted 6yrs

posted by tydeman.consulting

2 comments posted 6yrs posted by tydeman.consulting

401-K Rollback?

Hi All - I received a question about "rollovers" from a 401-K. The client wants to take money out of his 401-K and then...

3 comments posted 6yrs

posted by spamtrap

3 comments posted 6yrs posted by spamtrap

Capital Gains and Tax Treaty

I am a U.S. citizen currently residing in a country which has a tax treaty with the USA. It specifies that capital gain...

3 comments posted 6yrs

posted by larry.israel100

3 comments posted 6yrs posted by larry.israel100

Roth and Loan Forgiveness

Hi All - I just got an inquiry from someone who is in the public loan service forgiveness program. His accountant has h...

2 comments posted 6yrs

posted by spamtrap

2 comments posted 6yrs posted by spamtrap

Is this interest taxable?

I was issued a 1099-INT by the Commonwealth of Massachusetts Office of the Comptroller. My mother died 35 years ago. La...

3 comments posted 6yrs

posted by nadcixelsyd

3 comments posted 6yrs posted by nadcixelsyd

Cost basis

Stocks sometimes do splits and reverse splits; and brokerage firms charge a reorganization fee. Is that fee added to the...

2 comments posted 6yrs

posted by m8r.jn1sdp

2 comments posted 6yrs posted by m8r.jn1sdp

Can sole proprietor use their SSN to issue 1099-Misc

Photographer pays others to edit some photos. She has w-9 information for the one person she paid more than $600. She i...

4 comments posted 6yrs

posted by ramridge

4 comments posted 6yrs posted by ramridge

What is a "partial" IRA deduction?

I must be doing something wrong. A client inquired about how much of an IRA deduction he can take if he's covered by a...

5 comments posted 6yrs

posted by spamtrap

5 comments posted 6yrs posted by spamtrap

Is this considered a single member LLC or Multi Member LLC?

1. I made a mistake when I applied for an EIN number on the IRS site. I opted for a single member LLC. I need to change...

3 comments posted 6yrs

posted by jessica.beltz

3 comments posted 6yrs posted by jessica.beltz

Officer Salary

Scenario: An individual owns 100% of S-Corp A and draws no salary during the year Same individual owns 51% of S-Corp B...

1 comments posted 6yrs

posted by chtax

1 comments posted 6yrs posted by chtax

Home Office Deduction

This is the first year daughter-in-law qualifies for home office deduction because she never had an area that was used...

4 comments posted 6yrs

posted by ramridge

4 comments posted 6yrs posted by ramridge

Which tax form to use?

Which tax form to use? I had applied online to the IRS for a tax ID number for an LLC. I don't remember if I indicated...

1 comments posted 6yrs

posted by jessica.beltz

1 comments posted 6yrs posted by jessica.beltz

Wash sales and dividend reinvestment

A recent thread asked about triggering the wash-sale rule by selling a mutual fund or ETF that was enrolled in dividend...

7 comments posted 6yrs

posted by the_stan_brown

7 comments posted 6yrs posted by the_stan_brown