Taxes General Forum

Change From Standard to Itemized Deduction

If a 1040 is filed using a standard deduction, resulting in no tax payment. Later a mistake is discovered that would ma...

2 comments posted 8yrs

posted by larry.israel100

2 comments posted 8yrs posted by larry.israel100

Should my car be on my business name?

I am a small business person. To be able to get depreciation on my business tax return for my car, does the IRS require...

6 comments posted 8yrs

posted by gloriahiltz

6 comments posted 8yrs posted by gloriahiltz

Property owned by IRA

Client has real property owned by her IRA. She personally paid the property tax. First, can she personally deduct the t...

2 comments posted 8yrs

posted by spamtrap

2 comments posted 8yrs posted by spamtrap

How to handle built up vacation home carryover expenses when no more personal use?

Taxpayer has had a vacation home for many years, living it during the summer and renting it the rest of the time, so th...

8 comments posted 8yrs

posted by rlcarr

8 comments posted 8yrs posted by rlcarr

Foreign Trust & U.S. compliance requirement

A U.S. citizen set up an irrevocable foreign trust with non-resident alien beneficiaries. Is there any *on-going* U.S....

4 comments posted 8yrs

posted by m8r.jn1sdp

4 comments posted 8yrs posted by m8r.jn1sdp

Old, very old, NY returns

My client's uncle died in 2013; research suggests that 2011-2013 returns were never filed. Preliminary estimates show t...

1 comments posted 8yrs

posted by ronnirubin

1 comments posted 8yrs posted by ronnirubin

NY tax registration

I have a client whose late grandfather may need to file 2011-2013 NYS (and NYC) tax returns. If I do this, do I need to...

1 comments posted 8yrs

posted by ronnirubin

1 comments posted 8yrs posted by ronnirubin

Corrected 1099INT for 2016. Argh.

I just got an amended 1099int for 2016. Apparently they are reclassifying $494 from qualified dividend to nondividend d...

3 comments posted 8yrs

posted by wade

3 comments posted 8yrs posted by wade

Withdrawal of Students UTMA/NC for education expenses-

Good evening, Client withdraw UTMA/NC for daughters expenses for school. First year in college. Taxable or not taxable T...

0 comments posted 8yrs

posted by AALPLLC

0 comments posted 8yrs posted by AALPLLC

Glaring Error in IRS Publication.

IRS's Pub 523 says this about selling your principal residence (your "main home"): "Recapturing Depreciation If you use...

8 comments posted 8yrs

posted by lotax

8 comments posted 8yrs posted by lotax

Allocating Cellphone Expense Between Business and Personal

Are there any references on how to allocate cell phone expense between personal and business use?

3 comments posted 8yrs

posted by njoracle

3 comments posted 8yrs posted by njoracle

Turbo-tax won't permit e-file ?

I have finished my (Turbo Tax) tax return. Presumably, I am supposed to be able to file electronically. But every attem...

3 comments posted 8yrs

posted by Mathedman

3 comments posted 8yrs posted by Mathedman

Involuntary Exchange

I have a friend who owned shares in a (master?) limited partnership; I think it was an oil/gas deal. They reorganized i...

11 comments posted 8yrs

posted by dontspamme

11 comments posted 8yrs posted by dontspamme

Hobby Expenses

I'm talking to a guy who is renting a house below market value, so he knows he can't take deductions in excess of his c...

2 comments posted 8yrs

posted by spamtrap

2 comments posted 8yrs posted by spamtrap

Helath Insurance Premium Tax Credit

I've used H&R Block tax software for years, and once in a while have an issue with it, but can always find/fix the prob...

4 comments posted 8yrs

posted by Mike

4 comments posted 8yrs posted by Mike