Taxes General Forum

Nondividend Distributions

Sometimes IRS form 1099-DIV reports an amount in Box 3: Nondividend Distributions. What kind of activity behind the scen...

5 comments posted 7yrs

posted by zvkmpw

5 comments posted 7yrs posted by zvkmpw

confused about 2018 Form 5498

Actually, two questions. My wife, who is retired, had a 401K with a company that she worked for. That company declared...

5 comments posted 7yrs

posted by moo

5 comments posted 7yrs posted by moo

How does a MA reseller recover sales tax paid?

I know that in the normal course of affair a reseller would have the resales exemption certificate to show to a vendor...

6 comments posted 7yrs

posted by rlcarr

6 comments posted 7yrs posted by rlcarr

Can I rollover capital gains on sale if I buy a higher-priced replacement for my Schedule C business?

I have a question about rolling-over capital gains on my profits from a sale of a musical instrument that is used for s...

3 comments posted 7yrs

posted by quilt192

3 comments posted 7yrs posted by quilt192

What exactly does the "stretch" repeal in the 2019 SECURE Act touch?

The SECURE Act has passed the House 417-3 and is expected to pass the Senate and by signed into law. I've seen articles...

1 comments posted 7yrs

posted by rlcarr

1 comments posted 7yrs posted by rlcarr

irs2go

Inasmuch as I am running late with my calculations, I decided to pay a guesstimate payment using the app IRS2GO on my A...

0 comments posted 7yrs

posted by larry.israel100

0 comments posted 7yrs posted by larry.israel100

Can I deduct sales expenses from amounts received?

Years ago I lent a company money and they gave me gems as collateral. When they defaulted and I got the gems, I found t...

0 comments posted 7yrs

posted by wadelippman

0 comments posted 7yrs posted by wadelippman

S Corp Tax Form 1120S Line 8

Should the amount on Line 8 of Form 1120S be the gross amount paid to employees or the net amount they received after fe...

3 comments posted 7yrs

posted by Jwisnia18

3 comments posted 7yrs posted by Jwisnia18

Employee Travel Expenses

According to CCH, employee commute expenses, when temporarily working away from home, are deductible for 2019. First, a...

5 comments posted 7yrs

posted by spamtrap

5 comments posted 7yrs posted by spamtrap

Nonprofit's basis in property

Taxpayer received a house as a gift from a charitable organization. Now he wants to sell the house. Does he have a carr...

2 comments posted 7yrs

posted by spamtrap

2 comments posted 7yrs posted by spamtrap

Liability for S-corp Penalties

A person sets up an S-corporation but doesn't transact any business. So he figures no taxes are due and he files no tax...

10 comments posted 7yrs

posted by spamtrap

10 comments posted 7yrs posted by spamtrap

Missed R/O IRA RMD's

In 2011 my 88 year old father died and I inherited his Roll Over IRA. I kept Dad's financial advisor. for those inherit...

4 comments posted 7yrs

posted by dave

4 comments posted 7yrs posted by dave

Savings Bond Interest

X inherits savings bonds on the death of his father. The bonds matured years ago. X has no idea whether his father paid...

2 comments posted 7yrs

posted by spamtrap

2 comments posted 7yrs posted by spamtrap

Who gets the tax refund.

In a recent case on Judge Judy, the following facts are claimed: Defendant, Alice, runs an accounting businesse and pre...

2 comments posted 7yrs

posted by nadcixelsyd

2 comments posted 7yrs posted by nadcixelsyd

Question on Net Investment Income tax

Form 8960 Net Investment Income tax Does it make any difference if my income is federal income tax free income (Tax fre...

1 comments posted 7yrs

posted by ritagoldman101

1 comments posted 7yrs posted by ritagoldman101