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I received a K1 form for 2016, but I received no

I received a K1 form for 2016, but I received no distribution in 2016.... I'm confused..

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

20,572 satisfied customers
This is a tax question, Indiana, Just checking to see how

This is a tax questionJA: What state are you in? It matters because laws vary by location.Customer: IndianaJA: Has anything been filed or reported?Customer: Just checking to see how much you are allowed to make when the couple is 76 and 73 years old before you need to file a tax returnJA: Anything else you want the lawyer to know before I connect you?Customer: No

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Robin D.

Vocational, Technical or Trade School

23,356 satisfied customers
My corporation (1120) was dissolved in May 2016. The IRS

My corporation (1120) was dissolved in May 2016. The IRS just sent a letter demanded for additional tax owe for the year 2014. Do I as an officer of the corporation liable for the tax for 2014JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: no

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

20,572 satisfied customers
Does the state of Arizona have a statute of limitations on

Hello, does the state of Arizona have a statute of limitations on personal income tax debt? Thanks GregJA: Because laws vary from place to place, can you tell me what state this is in?Customer: ArizonaJA: Has anything been filed or reported?Customer: Yes in 2007, no effort has been made to collect the $10,000 in taxes other than writing a letter explaining why it would be a hardship for us to do so at that time.JA: Anything else you want the lawyer to know before I connect you?Customer: The state has filed a tax lien years ago and today we just received an unexpected civil summons from the Superior Court of the state of Arizona in the Arizona Tax Court to collect the outstanding debt. This was completely unexpected.

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Lev

Retired

Bachelor's Degree Equivalent

24,426 satisfied customers
Taxes Can money from a 401K be non taxable if the money was

TaxesCan money from a 401K be non taxable if the money was used for medical expenses ...but abroad? In a different country?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

20,572 satisfied customers
I have a form 1099-r for the after tax portion of a cash

I have a form 1099-r for the after tax portion of a cash account pension that I received as a lump sum and did not roll over. it has no taxable amount shown and i don't know how to report tax on this.JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: it has box 5 filled in with the same amount as box 1 meaning my contribution was the entire amount and 9 b is also same amt. box seven has 7 in it.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

20,572 satisfied customers
My son did not work or earn any monies at all last year but

my son did not work or earn any monies at all last year but he received a 1098T form from his school and a 1099Q form from his 529 acct holder. Does he have to file taxes this year?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

20,572 satisfied customers
My client included totals for 10 Forms 1099 on his 1096.

My client included totals for 10 Forms 1099 on his 1096. However, he only included 6 of them with the 1096. How do we send the other 4 without doubling up? Thanks.JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: Not sure what more to tell you. The 1096 totals were for all 10 Forms 1099. He forgot to include four of the 1099s in the mailing.JA: Is there anything else important you think the Accountant should know?Customer: No

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

20,572 satisfied customers
My wife's name was put on deed and her father retained a

My wife's name was put on deed and her father retained a life estate. My wife, an only child, preceded her father in death by a couple years. When he passed away in April 2014, I had property appraised in Nov 2014 at $250,000. I sold the property in 2016 for the appraised value of $250,000. What is my basis?

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Robin D.

Vocational, Technical or Trade School

23,356 satisfied customers
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