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I HAVE A CLIENT WHO HAD A LARGE NOL FOR 2015. HE IS AN OTR

I HAVE A CLIENT WHO HAD A LARGE NOL FOR 2015. HE IS AN OTR TRUCKER AND A FARMER AS WELL. HE OWES SS TAX THIS YEAR, DOES THE NOL NOT GO AGAINST HIM OWING SS TAX. THE NOL WAS FROM FARMING?

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,840 satisfied customers
I filed my taxes last night with turbo tax on credit Karma.,

I filed my taxes last night with turbo tax on credit Karma. , I live here in texas, I filed a lousiana state tax, but I think I used the wrong form, I usedform IT-540 form instead of the IT- 540B form, will that make a difference on the state tax I,m suppose to receive.JA: What kind of computer do you have?Customer: I have a hp pavilionJA: Have you installed any updates recently?Customer: just windows 10JA: Anything else you want the computer expert to know before I connect you?Customer: no

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

20,390 satisfied customers
I got divorced this last year and my ex husband and I

I got divorced this last year and my ex husband and I jointly own a rental property because we could not sell it. When I file my taxes, should I file for half of the income and half of the expenses of the house? What happens if he doesn't file for his half?JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: Last year we filed jointly. This year we are not. Do I only need to claim half of our state return from last year?

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,840 satisfied customers
Second opinion] My husband and I have an LLC partnership. In

Second opinion] Hi. My husband and I have an LLC partnership. In 2016 we converted our garage to our new studio and we are reporting it as unreimbursed partnership expenses. My question is does this amount also get reported in the Business Use of Home section where it says: "If applicable, enter the total cost or other basis of an addition or improvement (that affects the business part of your home) placed in service after you began to use your home for business"? Thank you!

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,840 satisfied customers
I am the executor of my mother's estate. Received a notice

HI! My name is ***** ***** I am the executor of my mother's estate. Received a notice from an investment firm that the TIN on my mother's estate didn't match the TIN on the IRS records. The TIN on the account and on the filed estate taxes is the same. How do I resolve the problem?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: Why the accountant?

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Charles Markham

Principal

Masters Science Taxation

624 satisfied customers
This is about rental depreciation for a situation in which I

This is about rental depreciation for a situation in which I have roommates living with me in my house. In 1998 I bought my house and got 2 roommates, then later reduced it to only one roommate, then in 2003 decided to never have a roommate again, so for 11 years I had no roommate. I've been told that my house reverted to personal use then. Then in 2014 I decided to try again and got one roommate (house square foot rental percentage 16%). In 2016 I needed more income, so I got a second roommate (increasing the rental percentage by 7% to 23%).1. I think that I made a mistake in 2014 when I started back having a roommate, renting out 16% of the house. I depreciated 16% of the 1998 cost of the house ($185,000) but didn't add in any of the improvements I made during the years I had roommates (1998 – 2003). These items previously got depreciated on those years' tax forms:1998 - $3500 new roof1998 - $1915 remodeling done to convert the living room to a bedroom2000 - $5227 new A/C & new fence2002 - $6616 roommate bathroom remodeling--------------------------------------------------------------------------------------------Total improvements: $17,258What do I need to do now? Do I have to re-do my taxes for 2014 & 2015 or can I just start doing things right for 2016? If the latter, should I add a line to my 2016 Form 4562 for 27.5 years for a basis of 16% x $17,238, with a starting time of January 1, 2016?2. Should my 2014 basis have included ALL improvements to the house, even those having nothing to do with the rental area, including the remodel I did of my bathroom/bedroom in 2002 and the new hardwood floor added in 1998 (which never got depreciated in 1998)?3. This year 2016 I'm also renting out the back bedroom to a second roommate, which is 7% of the house. Do I need to add a line to my 2016 Form 4562, for 27.5 years, for a basis of7% x (house cost + improvements) = 7% x ($185,000 + $17,258)4. When does depreciation end for my house: 27.5 years after 1998 or 27.5 years after 2014? If the latter, does all the depreciation done during the first rental period of 1998 – 2003 just vanish and never have to be recaptured, even if I had to sell the house later?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: I don't think so.

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,840 satisfied customers
I am a student, 1 have 1 1198-t, i work,but my income was

i am a student, 1 have 1 1198-t, i work,but my income was only 10053.00 on the w2. i made some tips, enough for the min 1040 requirements. i also have 5188.25 i tithe and offerings. do i file 1040 with true income, or 1040ez? i'm trying to get the 1098-t cedit.JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: hello?JA: Hello. What is your issue regarding?Customer: it say's i need to file the 1040 to get the 1098-t credit, but it says on the instructions that i had to make at least 10350.00 to file with 1040. my w2 says i only made 10053.00. i however made enough tips to reach the min. should i just put the min. to file with 1040, or does it even matter?

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Robin D.

Vocational, Technical or Trade School

23,140 satisfied customers
I am a US citizen and a resident of another country. I am

I am a US citizen and a resident of another country. I am married and my husband is neither a US citizen or US resident. I want to file my taxes, but have no interest in involving him in any way. it appears when i try to file married, filing seperately, the US still wants his info. Can i file single although I am married? Is there a way to file without involving him at all. He has absolutely no tax liability to the United States.

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Robin D.

Vocational, Technical or Trade School

23,140 satisfied customers
I need to Amend my 2013 Form 1040, Dell PC, No, My 2013 Form

I need to Amend my 2013 Form 1040JA: What kind of computer do you have?Customer: Dell PCJA: Have you installed any updates recently?Customer: NoJA: Anything else you want the computer expert to know before I connect you?Customer: My 2013 Form 1040 is incorrect and I need form too amend it

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,840 satisfied customers
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