Latest threads in Taxes General Forumshow only best voted threads
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gift checks to 529 account
Another non-tax question, but this group knows all. A gift check was sent to a young person. Parents want to deposit into the child's 529 account. Is this an easy thing to do, or a complex thing to...
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11 months ago
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Annual meeting notifications
Not really a tax question but I'll bet you know the answer. For years the stock broker relayed a message by email about the annual meeting for each stock I own. They were all purely informative, bare...
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11 months ago
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Fun with 2021 state taxes
There were a number of issues with respect to a relative's 2021 state tax return. Base income is calculated on federal AGI, with additions and subtractions. Generally, retirement income isn't taxed...
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11 months ago
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Death of Citizen Spouse
Married couple, wife was US citizen or resident, husband is not citizen or resident. Wife died in 2022. From what I can tell, husband can still file a joint return for 2022. Do I have that right?...
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11 months ago
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Home interest deduction
If the conforming mortgage loan limit is increased to $1,089,300, is the interest on this loan 100% tax deductible for a primary residence?
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11 months ago
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Head of Household
I think I'd gotten something wrong but want to check with you to see if now I've got it right. I had thought that when custodial parents use Form 8832, they can change which parent gets to claim a...
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11 months ago
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Roth conversion
Hello, I had a curious thought. I still carry a good amount of capital losses from 2008-09. If I convert a 401K into a Roth IRA can the carried capital loss above the $3000 annual amount be used to...
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11 months ago
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Sale of Rental Property
We are in the post season and my brain is only partially functioning. I am confusing myself on the reporting the sale of a client’s rental property. Client owned the property since 2011, but only...
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1 year ago
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K-1 with only expenses
I received an inquiry about an LLC taxed as a partnership, whose only members are non-citizens/nonresidents. The LLC has had expenses but no revenue. Does the LLC need to send out K-1s to the members?...
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1 year ago
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estimated tax penalties
This might be a naive question! I was just preparing my 1040-ES, and it occurred to me that with treasury rates so high at the moment, it might be worth just keeping it and paying the penalty instead....
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1 year ago
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California Middle Class Tax Refund 2022
Hi. I heard that the California Middle Class Tax Refund 2022, is not taxable. But, I got a 1099 Misc. Is it not taxable by the state? Or taxable by both. Thanks.
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1 year ago
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Taxability of Roth conversion of individual IRA when there's also a SEP-IRA?
A self-employed family member accidentally contributed some money to their individual IRA that they meant to go to their SEP-IRA (Vanguard's UI can be confusing on this). That alone isn't a problem...
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1 year ago
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Car & Truck Expense Sheet
Hi. I had a car that I used in the past for business from 2014 to 2017 and used the depeciation method. Startin in 2018, I used another car that I have and used the standard deduction method. In 2021,...
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1 year ago
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1099-K income from eBay, estimated taxes?
Started an ebay business, do I need to pay estimated taxes as I have no idea how much I will make each quarter. Thanks.
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1 year ago
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How to handle being in parent's marketplace plan but not being a dependent?
I'm doing my nephew's tax return which is entirely straightforward (all he has is a W-2) except for one thing: * Nephew is 25 * Nephew is NOT a full-time student * Nephew is NOT anyone's qualifying...
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1 year ago
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