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I have a situation in which I paid $2,000 to a contractor, I

Hi,I have a situation in which I paid $2,000 to a contractor, I am almost sure the contractor is an individual, he gave me an official receipt but there was no EIN information on the receipt and now he ignores my calls or emails requesting a W9. How can I issue him a 1099?Also, when I filled out questions "I" and "J" on schedule C, how do I answer Yes or No ? In other words, am I required to issue a 1099 to the contractor and if yes, how can I fulfil this assignment?Please help.

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Mark Taylor

Certified Public Accountant

Masters

2,688 satisfied customers
Pursuant to a divorce decree, I sold a rental property in

Pursuant to a divorce decree, I sold a rental property in December 2016 and split the proceeds (as required by the divorce decree) with my ex-spouse. However, because I was sole owner of the property (I acquired it before getting married), the settlement company issued the Form 1099S, with the full sales price, only to me. My ex-spouse received half the proceeds but did not receive a Form 1099 from the settlement company. To protect myself, my inclination is to issue a Form 1099S to her, to assure that she (i.e., her tax preparer) plans on reporting half the gain on the sale on her tax return. The total gain is going to be significant (probably > $200,000), so I do not want to have to report the full amount on my tax return. Is this the appropriate course of action?

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Charles Markham

Principal

Masters Science Taxation

590 satisfied customers
First is there a fee for this service, I was divorced in

First is there a fee for this serviceJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I was divorced in march 2016. We sold our home in a short sale. The mortgage company forgave us $15k. Will I now have to pay half of taxes on this?JA: Is there anything else important you think the Accountant should know?Customer: No

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Mark Taylor

Certified Public Accountant

Masters

2,688 satisfied customers
I rebuilt my garage last year. Is there a way to get a

I rebuilt my garage last year. Is there a way to get a deduction for the cost of the upgrade?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I spent about $90,000.00JA: Is there anything else important you think the Accountant should know?Customer: I use it as a studio and have opened it to selected artists as a free venue to learn and teach art.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

19,826 satisfied customers
I just purchased a florist 7 months ago, looking to prepare

I just purchased a florist 7 months ago, looking to prepare my taxes , is there a percentage of flower and plant loss I can claim with irs. ?JA: What confuses you?Customer: i had many flowers/plants die throughout 2016 , how much can i claim as a loss ? certain percentage?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: no help, but thanks for your time

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Mark Taylor

Certified Public Accountant

Masters

2,688 satisfied customers
I'm filling out a W-9 for a requestor, and I'm wondering if

I'm filling out a W-9 for a requestor, and I'm wondering if I'm subject to backup withholding or if I'm exempt from it. I am a single-member LLC, filed as a disregard entity. Also do I enter my Soc Security number or EIN

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Mark Taylor

Certified Public Accountant

Masters

2,688 satisfied customers
I received a letter from IRS about insurance for my daughter

I received a letter from IRS about insurance for my daughter that I claimed last year. She is adopted and has sooner care and not carried on my job. I don't want to be penalized when she has insurance. What do I need to give to my tax preparer if anything?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: Not that I can think of

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Robin D.

Vocational, Technical or Trade School

22,442 satisfied customers
Need some info on capital gains taxes for a rental property

Hi! Need some info on capital gains taxes for a rental property that we sold. The property was owned by my father who passed on Nov. 5 2015 and was included in his living trust. The sale of the property was final on Sept. 1,2016. We have no idea what to do as far as the capital gains tax.JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: The property may have been sold slightly under market value. We sold it for $605,000.00. Purchased in 1978 by our parents for $64,000.00. I'm not sure what other info you may need.

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taxmanrog

Master's Degree

1,034 satisfied customers
My son has had his apartment now since January 2016. He

My son has had his apartment now since January 2016. He still wants me to do his fasfa and I don't think that's legal especially since he will not be on my taxes this year. I need information please help

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Charles Markham

Principal

Masters Science Taxation

590 satisfied customers
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