Latest threads in Taxes General Forumshow only best voted threads
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GnuCash, IRA, withholding
I use QuickBooks Desktop 2016 with industry edition nonprofit. I never bought subsequent editions 'cuz, you know, nothing about double-entry bookkeeping has changed since it was invented by the...
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2 days ago
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IRA with UBTI
I have a self directed Roth IRA. It has two investments. The K-1s from those investments show UBTI. #1) positive +x #2) negative -y Now, do I pay taxes on: Just the +x or on the net of +x-y
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1 week ago
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Estimated federal income tax calculator
Does anyone know of a free or low-cost calculator of estimated Federal income tax? It should cover at least Schedules B and D, the worksheet that computes taxable Social Security, and the Qualified...
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2 weeks ago
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Tax Breaksd Expiring after 2025
Can someone remind me what tax breaks expire after 2025, assuming Congress doesn't intervene? I think the standard deduction will drop back to earlier levels and personal exemptions will return, along...
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3 weeks ago
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DANGER using fake return addresses in this group
This is a public service announcement from the maintainer of the server that relies upon to function. If you use a fake return address in your postings because you don't want to post your real address...
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4 weeks ago
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Joint return for divorced couple
A couple I know were recently divorced, but since they were still married on 12/31/2023, their settlement agreement requires them to file a joint tax return for 2023 and to split any refund or costs...
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4 weeks ago
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Wash sales again
Hypothetically, a taxpayer sells 100 shares of an ETF, harvesting a long-term capital loss. Three weeks later, they receive 2.471 shares of the same ETF through the brokerage's automatic dividend...
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1 month ago
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Roth IRA Withdrawal
Taxpayer (29 years old) made a contribution to a Roth IRA in 2023. In 2024 he wants to withdraw his 2023 contribution (not earnings) without tax or penalty. My understanding is that he can withdraw...
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1 month ago
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W-8BEN
I'm confused. I looked at the instructions for the W-8BEN and it's not clear (to me, anyway) whether it has to be used by everyone who isn't a US person (so includes resident aliens who aren't green...
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1 month ago
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Debt for Deceased Taxpayer
OP's parent died owing money to the IRS. OP inherited some money from the estate. I don't know if the tax debt is for one year or more. OP is look for how to pay (up to the amount of what was...
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1 month ago
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Improper HSA Withdrawal
OP withdrew money from his HSA to reimburse himself for proper medical expenses. He didn't realize he would be reimbursed for that otherwise, but he was. Now he needs to know what to do about the HSA...
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1 month ago
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Optional general sales tax on Schedule A
(1) The instructions, page A-4, say "Your 2023 income [for purposes of the optional sales tax tables] is the amount shown on your Form 1040 or 1040-SR, line 11, plus any nontaxable items, such as ......
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2 months ago
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Form 6781: Gains and Losses from Section 1256 Contracts and Straddles
In Dec 2022, I bought a Call (option) on BSM due 1/9/2024 @ $17.50 Strike; and sold a Put on BSM due the same date @ $15.0 Strike. These are Section 1256 Contracts. [None of the contracts is...
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2 months ago
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Is there a due date for 1099-DIV?
Is there an official deadline for 1099-DIV? If yes, would appreciate a link to that requirement. TIA
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2 months ago
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THIRD TIME TRYING TO POST THIS QUESTION: Schedule E Line 43
Is this line supposed to include interest income reported on Schedule B which pertains to the rental real estate activities? I don't know if there is a reason this question is not making it to M.T.M....
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2 months ago
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