Taxes General Forum

Did a Recovery of a Contribution Take Place?

Suppose I make a contribution to a charitable program run by my state government during 2015. It's basically treated as...

2 comments posted 9yrs

posted by typed44295

2 comments posted 9yrs posted by typed44295

Sale of House Used as Partial Rental

For the last seven years, I rented a portion of my house out (40%) and reported rental income and expenses including de...

2 comments posted 9yrs

posted by rick

2 comments posted 9yrs posted by rick

How to satify the IRS and protect myself?

I did a reverse 1031 exchange and purchased a property in FL. The 1031 exch company formed a Single Member LLC in FL to...

2 comments posted 9yrs

posted by ritagoldman101

2 comments posted 9yrs posted by ritagoldman101

Musician Friend bought 7K new instruments.

Musician friend bought $7000 worth of new instruments to replace his old ones in 2016. He is semi retired in the 10% ta...

0 comments posted 9yrs

posted by Ma9a56

0 comments posted 9yrs posted by Ma9a56

MFS spouse repaying subsidized health insurance

I'm wondering if there is a loophole in the rules for paying back health insurance subsidies, or more likely, if I'm tr...

2 comments posted 9yrs

posted by edrobertsjr

2 comments posted 9yrs posted by edrobertsjr

State Gift Tax?

Tom gives Mary a large gift. The state Tom lives in has no gift tax, but Mary's state does? Is there any state gift tax...

2 comments posted 9yrs

posted by wade

2 comments posted 9yrs posted by wade

RMD

Taxpayer forgot to take his RMD for 2016, he took the 2016 on January 3, 2017 and then took RMD for 2017 on Jan. 6, 201...

3 comments posted 9yrs

posted by bh2os62

3 comments posted 9yrs posted by bh2os62

Year End Payment Messup

I receive a pension due on the first of each month. During 2016 each direct deposit was done on the first business day...

2 comments posted 9yrs

posted by catalpa

2 comments posted 9yrs posted by catalpa

TNC (Uber, Lyft) Expenses

Hoping the group can clarify some things for Uber/Lyft drivers (of which I am one), and I'll communicate the informatio...

3 comments posted 9yrs

posted by dontspamme

3 comments posted 9yrs posted by dontspamme

Post-dated check, mobile deposit & constructive receipt

One of my tenant's January rent check (due January 1, 2017) arrived on December 31. I used my bank's mobile app to "dep...

8 comments posted 9yrs

posted by arequipeno

8 comments posted 9yrs posted by arequipeno

Effect of Trust on Step-Up Basis

Hi, my husband and I have a "standard" A/B Trust. We are both the trustees. It is set to divide into 2 trusts when the...

6 comments posted 9yrs

posted by waphylz

6 comments posted 9yrs posted by waphylz

R/E taxes & joint ownership. One owner subject to AMT

Is this allowed? Anne and Bob, brother and sister, inherit vacation property from their parents. Each owns 50%. They de...

3 comments posted 9yrs

posted by nadcixelsyd

3 comments posted 9yrs posted by nadcixelsyd

Missing Refund - Fishy

I've been asked to help a friend with a missing refund. This is becoming extremely fishy, and I'd appreciate comments....

11 comments posted 9yrs

posted by dontspamme

11 comments posted 9yrs posted by dontspamme

wash sale query

On 12/20/16 I sold short say 400 sh. Of XYZ and covered that day, for a $200 loss. On 12/29, I again sold short 400sh....

1 comments posted 9yrs

posted by moo

1 comments posted 9yrs posted by moo

Municipal bond amortization

I've just had a bond redeemed early. The brokerage shows a loss which, I assume, will be reported on the 1099 for 2016....

4 comments posted 9yrs

posted by See.above

4 comments posted 9yrs posted by See.above