Taxes General Forum

How to handle Medicare Advantage C costs

I got a SS statement that shows how much was deducted for part B, C, and D. H&RBlock software only asks about B & D. Wh...

4 comments posted 8yrs

posted by wade

4 comments posted 8yrs posted by wade

How can I confirm if my entity is a disregarded entity?

How can I confirm if my entity is a disregarded entity? 1. We had a residential rental property held in the name of our...

0 comments posted 8yrs

posted by gloriahiltz

0 comments posted 8yrs posted by gloriahiltz

Are gifts reported to the IRS?

Today, my wife and I went to our stock broker and transferred fifteen thousand dollars worth of stock to our daughter's...

11 comments posted 8yrs

posted by nadcixelsyd

11 comments posted 8yrs posted by nadcixelsyd

1120S Line 19 Form

I can't find an IRS form to list the items and amounts included on line 19 of the 1120S Income Tax Return. Maybe I'm not...

3 comments posted 8yrs

posted by Jwisnia18

3 comments posted 8yrs posted by Jwisnia18

Tool to model 2018+ taxes?

Does anyone know of a tool (web based, spreadsheet, etc.) that will allow one to model their taxes under the TCJA? (I.e...

3 comments posted 8yrs

posted by arequipeno

3 comments posted 8yrs posted by arequipeno

New Tax Law Question

Will the age requirement change for the Child Tax Credit for next year? Currently it is under 17 for the entire year. bw

1 comments posted 8yrs

posted by bh2os62

1 comments posted 8yrs posted by bh2os62

RMD questions and calculations

I will turn 70 in May of 2018, so I will reach 70 1/2 in 2018. I know that I need to begin taking RMD money out of my r...

9 comments posted 8yrs

posted by RayDay

9 comments posted 8yrs posted by RayDay

form 5500ez

I have a one man Corp since 2003 and opened a 401k solo plan with fidelity. I am finding value of this portfolio crosse...

0 comments posted 8yrs

posted by purirb1054

0 comments posted 8yrs posted by purirb1054

Recapture of bonus depreciation

I started a childcare business on Oct 2017. I invested $9500 in equipment. Carpeting accounted for $7500 of that invest...

0 comments posted 8yrs

posted by waltxj2

0 comments posted 8yrs posted by waltxj2

1040NR

I just got a question, and I can't find a good answer on the irs website. From the instructions on the 1040NR it appear...

2 comments posted 8yrs

posted by spamtrap

2 comments posted 8yrs posted by spamtrap

foreign stock (ADR), dividends and "foreign source amount"

I received a 1099-DIV from my broker which reports total dividends (US and non-US) of all stock and the foreign tax pai...

4 comments posted 8yrs

posted by ghanwani

4 comments posted 8yrs posted by ghanwani

Is my son a dependent? Does he pay kiddie tax?

My son was 24 in December 2017. He went to graduate school in town through August and had an apartment. He earned some...

2 comments posted 8yrs

posted by wade

2 comments posted 8yrs posted by wade

Bank sent me a 1099-R for the refund

I contributed to traditional IRA and found it could not qualify the tax deffer for the year. So I canceled the transiti...

1 comments posted 8yrs

posted by Tax2017

1 comments posted 8yrs posted by Tax2017

Excess 401k Contribution

In 2016 I had an excess contribution of $150 to my traditional 401k at work. They refunded me the $150 in 2017 and issu...

0 comments posted 8yrs

posted by kriskd

0 comments posted 8yrs posted by kriskd

Self-Employment, health insurance, pension

I have two Schedule C businesses. My health insurance is almost as much as the income. As I toy with the amount to cont...

1 comments posted 8yrs

posted by dontspamme

1 comments posted 8yrs posted by dontspamme