Latest Taxes General Forum

Subject Author Posted Replies
Purpose of importing previous years tax data?
any value to doing this in Taxcut except for transferring your logistics information, i.e. address, phone, etc.? any other value also since last year, i paid taxes. from what i understand, i get taxed...
14 years ago 1
deduct federal income tax
Is the money I used to pay my Federal taxes for 2003 deductable from my 2004 Federal taxes? Thanks, Jim
14 years ago 4
Anyone reporting self-rental activity on Sch. E?
This is a common tax-saving strategy: A long-line truck driver is making payments on his tractor. He is leasing his tractor to his own S corp. The S corp is paying the operating/maintenance expense...
14 years ago 3
State Sales Tax Deductions
1. Do I need to have the actual receipt showing the sales tax deduction or can I substitute a check or charge card bill showing the store/location and the amount? 2. What if the receipt doesn't show...
14 years ago 6
retired, declared FL domicle - what is filing status for NJ?
I am retired and declared FL as my domicle on 1/1/04, but maintain a NJ home that I use for about 3 months of the year. I pay NJ property tax. All of my income is in the form of distributions from an...
14 years ago 5
interest on inheritance tax deficiency
This year, I paid the state of delaware interest on unpaid inheritance tax i owed on a investment property (vacation home) that I inherited years ago. I sold the property this year and the settlement...
14 years ago 3
Deductibility of legal advice on residential easement?
Single-family residence A includes a rental apartment; residence owner deducts prop rata portion of various "shared expenses" (gardening, furnace repairs, utilities, driveway repairs) against the rent...
14 years ago 7
Sale of inherited house
My sibling and I inherited a house in Sept 2004 and sold it on Jan 2005. I signed the closing papers as personal representative of my father's estate. The will was probated and I distributed the pro...
15 years ago 6
How do I treat interest paid on an investment property?
In 1995 I purchased residential acreage. The seller financed the purchase. I had no income from the property. However, I sold in 2004 at a profit. Can I deduct the interest I paid? And if so where do ...
15 years ago 7