Taxes General Forum

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Will a large refund trigger an audit?

We filed an extension for 2018 to the IRS. During the year we sent the IRS more money than we should have via the 1040E...
2 comments posted 6yrs
posted by sandraling1
2 comments posted 6yrs posted by sandraling1

Frivolous report

The IRS has notified me that it considers my 2018 return frivolous and will soon write me about it in more detail. I'm...
4 comments posted 6yrs
posted by ritagold
4 comments posted 6yrs posted by ritagold

Depreciating new HVAC unit

I recently replaced the HVAC unit (condenser, coil, and furnace) in a residential rental property. Looking at the depre...
11 comments posted 6yrs
posted by arequipeno
11 comments posted 6yrs posted by arequipeno

How to report hobby income

I've looked around and haven't found a clear answer to this. So suppose in addition to their regular job someone makes...
18 comments posted 6yrs
posted by pixel_a_ted
18 comments posted 6yrs posted by pixel_a_ted

California Unclaimed Property

I suggest y'all check to see if the state is holding some of your dough: https://ucpi.sco.ca.gov/ucp/Default.aspx Don't...
1 comments posted 6yrs
posted by nospamplease
1 comments posted 6yrs posted by nospamplease

Query on Schedule E

My husband and I have an LLC and thru it we lease out a small commercial property. (2 member LLC) Can we add the income...
21 comments posted 6yrs
posted by sandraling1
21 comments posted 6yrs posted by sandraling1

Tax Refund Humor

I paid my 2018 taxes a bit late. I guessed at the interest, and paid the whole thing with IRS2GO. I guess I forgot to p...
1 comments posted 6yrs
posted by larry.israel100
1 comments posted 6yrs posted by larry.israel100

Travel expenses on a law suit tax deductible?

My daughter in law lives in WI and was rear ended in WA. She hired a lawyer and had to travel there to meet with him. W...
2 comments posted 6yrs
posted by wadelippman
2 comments posted 6yrs posted by wadelippman

Health Ins premium question

We have a small business. We file a joint (H+W) 1040, 1065 with K1s. No employees. Where is the health insurance premiu...
1 comments posted 6yrs
posted by ritagoldman101
1 comments posted 6yrs posted by ritagoldman101

Depreciation question on Luxury autos

In the past our Husband and wife partnership business has been doing fine. We file IRS form 1065 and K-1s. We are filin...
1 comments posted 6yrs
posted by ritagoldman101
1 comments posted 6yrs posted by ritagoldman101

Sold rental property deadline to deposit taxes

I sold a rental I had for 25 years. I sold it last week. I have a capital gain of 150k. How do I pay taxes on this? Do...
5 comments posted 7yrs
posted by purirb1054
5 comments posted 7yrs posted by purirb1054

capital gain strategy (basic query)

Let's suppose I have a net short term loss of $2500 in late 2019. I also can take a long term capital gain of $2500. Am...
3 comments posted 7yrs
posted by moo
3 comments posted 7yrs posted by moo

IRC Section 1033 questions

This is a long shot but I can't find any IRS guidance in the form of Regs or PLRs. A client, organized as an LLC, wants...
3 comments posted 7yrs
posted by garyg7
3 comments posted 7yrs posted by garyg7

Turbo Tax 2016

Hello, Does anyone know where I can buy/get a copy of TurboTax 2016? Thanks!
2 comments posted 7yrs
posted by ezz1994
2 comments posted 7yrs posted by ezz1994