Taxes General Forum

non-compulsory foreign taxes

I had a random question about the foreign tax credit. I'm a brit living in the US, so I have the option (not obligation...

6 comments posted 3yrs

posted by taviso

6 comments posted 3yrs posted by taviso

Box E vs Box F for long term capital losses. Amend or not?

I was checking my tax return and notice something on my Schwab tax form, there was a capital loss of $2000 but my cpa c...

1 comments posted 3yrs

posted by waynegib

1 comments posted 3yrs posted by waynegib

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 in...

1 comments posted 3yrs

posted by nospamplease

1 comments posted 3yrs posted by nospamplease

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...

2 comments posted 3yrs

posted by NONONOmisc07

2 comments posted 3yrs posted by NONONOmisc07

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...

2 comments posted 3yrs

posted by ahk

2 comments posted 3yrs posted by ahk

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...

1 comments posted 3yrs

posted by hast1065

1 comments posted 3yrs posted by hast1065

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...

1 comments posted 3yrs

posted by debbie.lafourche

1 comments posted 3yrs posted by debbie.lafourche

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...

2 comments posted 3yrs

posted by hast1065

2 comments posted 3yrs posted by hast1065

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...

3 comments posted 3yrs

posted by dennismcguinn

3 comments posted 3yrs posted by dennismcguinn

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 o...

5 comments posted 3yrs

posted by michaelhbratt

5 comments posted 3yrs posted by michaelhbratt

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 ha...

4 comments posted 3yrs

posted by spamtrap

4 comments posted 3yrs posted by spamtrap

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...

6 comments posted 3yrs

posted by taviso

6 comments posted 3yrs posted by taviso

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...

4 comments posted 3yrs

posted by debbie.lafourche

4 comments posted 3yrs posted by debbie.lafourche

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 thei...

0 comments posted 3yrs

posted by rlcarr

0 comments posted 3yrs posted by rlcarr

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...

2 comments posted 3yrs

posted by debbie.lafourche

2 comments posted 3yrs posted by debbie.lafourche