Latest threads in Taxes General Forumshow only best voted threads
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Two Jobs, Same Employer
This is a followup to a question I asked a little while ago. I can't find any authority, and wonder if anyone has any actual experience with this: Is it possible for one person to have two separate...
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6 years ago
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Gifts from a joint account?
My wife and I both want to give our son a $14,000 gift. All we have is a joint checking account. Can we each write him a $14,000 check from it? Can we simplify and write him a $28,000 check?
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6 years ago
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Simultaneous Employment Contracts
A client was offered two job contracts for the same company. The first contract is as a consultant, as an employee, for a specific salary. The second contract is as a real estate broker, an officer of...
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6 years ago
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Question on exchange
Can an individual do two 1031 exchanges in one calendar year? Any IRS ramifications? Any rules on this?
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6 years ago
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Re: Tax on core charge...
Trade-ins and Core Charges (Maryland) If you accept trade-ins or require the exchange of a used item or core when making sales, you must charge tax on both the cash paid and the value of the trade-in...
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6 years ago
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Roth IRA for prisoner
I have a friend who is in her early 20's and incarcerated for probably another 2-3 years. Despite making a horribly bad choice a few years ago, I think she's basically intelligent, responsible, and...
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6 years ago
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IRS PTIN System now accepting renewals for the 2018 filing season.
One quirk I noted: I also renewed my EA status this year (2017), and the PTIN system did NOT pick up the new expiration date. Therefore, EAs be warned. The two IRS systems should intercommunicate -...
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6 years ago
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Go Fund Me
I have a freind, whose daughter encountered a major (not totally insured) medical issue. They started a Go Fund Me page, fo neededr financial assistance. I asked them if those "gifts", ended up worth...
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6 years ago
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Will this reported to the irs?
My question is: will a 1099b be reported to the irs, if it shows a net loss for all futures transactions for the year? will a 1099b be created by the company, if the only entry will be total data and...
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6 years ago
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Medicare deductions and Social Security?
My wife gets $1,000 a month Social Security. They deduct $400 a month for Medicare; so her check is $600. What goes on the 1040... $12,000 SS and $4,800 medical expenses, or $7,200 in SS. As long as I...
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6 years ago
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Short term gain or long term gain?
What happens if there are multiple parts to my basis? For example: suppose I bought some vacant vacation land three years ago. Five months ago I hired someone to build my vacation home. It's finished....
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6 years ago
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6 Month Extension For 1040, Question ?
Hello, A family member back in April took out that 6 month automatic extension for their 1040. Due to illness, and other problems, looks as if they might miss this 6 month cutoff too. What is...
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6 years ago
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1040 Sch E question
1040 Sch E question On Sch E page 2 there are columns for Passive and Non Passive Income from K-1. If the amount is entered in "non passive income from K-1", is this amount subject to Self Employment...
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6 years ago
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Tenant Walks Out - What is deductible?
A tenant was renting an apartment and paying rent. As part of the deal, tenant paid electric and water bills. For 6 months, tenant only paid two months of rent and did not pay any of the electric or...
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6 years ago
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Gift value for illiquid asset
With the talk of tax reform, I am researching a particular aspect of the gift tax. I understand the $5.49M exemption on the death of an individual, the ability to retain that amount when one half of a...
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6 years ago
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