Latest threads in Taxes General Forumshow only best voted threads
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Medical derduction
I've been doing my taxes using FreeTaxUSA through the IRS website, and I saw that the portion of medical expenses above 7.5% of AGI is deductible on Schedule A. I thought that had gone up to 10%. Out...
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1 year ago
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Beneficiaries / 1041
Question about Form 1041. Turbotax insists on printing K-1s for beneficiaries of a trust or estate, even when there has been no distribution. A review of the instructions for the 1041 leads me to...
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1 year ago
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Why is painting between tenants deductible
I'm making my annual attempt to understand the rules around which "repairs" to residential rental properties can be fully deducted in the year in which the expense was incurred. One thing that puzzles...
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1 year ago
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Am I missing form 20221099-G from Calif?
Am I missing form 2022 1099-G from Calif? If so, do I really need it? Or can I e-file federal and Calif tax returns without having it physically? IIRC, we no longer need to "attach" 1099s to tax...
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1 year ago
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Storm Extensions
I received an inquiry from someone asking about extensions for storm relief the IRS has granted, as they apply to a 1031 Exchange. I haven't been able to find anything on the IRS website about that....
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1 year ago
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IRA cost basis computation
I appreciate any advice the group could give me as I try to complete my deceased parent's final joint tax return. Each of my parents had a traditional IRA with a cost basis. They each took their RMD...
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1 year ago
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1040-X problem
I am a volunteer for the AARP Tax Aide program. In 2022 (for 2021 taxes), a client filed a 1040-X because he received a 1099-DIV after we had filed his original return. He paid additional tax because...
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1 year ago
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Son Taking One Parent as Dependent (But Not the Other)?
A married couple is in their late 50s. They live with their 29-year-old son. The son has a decent job, and the son pays more than half of his parents' annual living expenses. The wife took a...
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1 year ago
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incorrect Form 1099-S received after 1031 like-kind exchange
During 2022, I performed a 1031 like-kind exchange, in which I sold a piece of undeveloped land, and used the proceeds towards purchase of a vacation rental house. (This is a way of deferring...
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1 year ago
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Dividing Schedule C Income
I have a small Schedule C business. I'm going to divide the work and the income with a partner, whom I might be married to by 2024. I receive a 1099NEC for the work. If we're not married, can I just...
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1 year ago
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Question regarding place of income, when filing K-1 LLC Partnership (NY State) - Filing Form 1065
Short background: We are a LLC (equal Partnership between 3 people), registered here in NY State. Our company / profession is musicians that travel around USA, performing at various venues. Our...
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1 year ago
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Federal e-filing 1040 returns with H&R Block Premium Home & Business
I've bought this software know full well I'll get 5 free e-files for Federal 1040 returns. I due 11 returns a year now and get the message that I've I've reached my 5 free e-files. I always assumed...
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1 year ago
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Child Tax Credit
One of the requirements for the Child Tax Credit is that the child lived with the parent for more than half the year. Does that mean that the child must have been born before July 2? Or is the child...
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1 year ago
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Page moves after refrest
Firefox 110.0, Windows 10 For all the time I've been using Firefox, when I refresh a page by pressing F5 or Ctrl+R, the page stays in the same scrolled position. With FF 110.0, the page always goes...
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1 year ago
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Living in US / Inheriting assets in Switzerland - IRS reporting
The following question was posted on an online forum for Swiss citizens. What do the tax experts here have to say? Thanks. ***quote*** I am Swiss, but a US resident. My father passed away end of...
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1 year ago
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