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Recent Tax Year questions

Can I list my wife on my 2016 federal tax returns? I brought

Can I list my wife on my 2016 federal tax returns?I brought her to USA legally under a K1 visa, and married her in 2016. She just received her work authorization and social security number in 2017. She had no wages or income in 2016. She does not have a green card yet.Is there any reason why I can't include her on my 2016 tax returns? Please explain.

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Robin D.

Vocational, Technical or Trade School

23,140 satisfied customers
Can I deduct the cost of the EMT ambulance service for trip

Can I deduct the cost of the EMT ambulance service for trip to the emergency room?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: My husband needed the emergency ambulance to go to the emergency room at the local VA hospital. He passed away while in the hospital. Is the cost of the ambulance deductible as an end of life expense?JA: Is there anything else important you think the Accountant should know?Customer: No

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Robin D.

Vocational, Technical or Trade School

23,140 satisfied customers
I am trying to figure out whether I should file a form 1045,

Hi, I am trying to figure out whether I should file a form 1045, or an amended form 1040, in order to carryback a net section 1256 contracts loss? I have a loss for 2016 and want to carry it back to 2015. The IRS instructions for form 6781 say it can be done either way (form 1045 or amended 1040) and I am trying to figure out if there are any benefits/drawbacks of doing it one way or the others? Thanks!JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: That's it

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taxmanrog

Master's Degree

1,148 satisfied customers
Not file taxes for 7 years what should i do, ive been ill

not file taxes for 7 years what should i doJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: ive been ill for years unable to work,I even filed for social security but was turned down. I was hospitalized 3 times since 2009 and in the wayne county mental health system. I have been living in poverty but I have managed to keep my house , the payment is 800 per month. Iwas in a couple of trusts and got help from family,I also sold eveything I own. I am back to work part time and hope to be back full time this year. I am afraid of going to jail or losing my home, wht should i doJA: Is there anything else important you think the Accountant should know?Customer: i have done to many things to survive financial over the years to list, I have rented my house , worked odd jobs with freinds worked for family helping them paint their house ect In a lot of cases they were just giving me charity.I dont want to drag anyone into my mess .

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,840 satisfied customers
I had a loss due to a fire. the loss was about 150k. my

I had a loss due to a fire. the loss was about 150k. my total income was 78k and i paid 15k income tax. Can my refund exceed my paid in come tax. If not can part of the loss be carried over to next year?

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Robin D.

Vocational, Technical or Trade School

23,140 satisfied customers
If a partnership has a foreign partner (Canadian) but posts

If a partnership has a foreign partner (Canadian) but posts no profit for the year, is the partnership required to file 8805's for the foreign partner?

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Lev

Retired

Bachelor's Degree Equivalent

24,314 satisfied customers
My question is: My mother is here in the U.S. and she is a

Hi there, my question is : My mother is here in the U.S. and she is a green card holder. She has an income CAPI (Cash Assistance Program For Immigrants ) which is right now $835.00 a month. She also has her retirement plan in Romania which is a citizen of. We sent out legal documents to a friend of ours in Romania, over the years to pick up her monthly retirement from the bank there, which is roughly $150 a month. Now the bank sent a letter to our friend, addressed to my mother ( they did not ever realized that is not her address, since she is not living in Romania ) asking to send them a W9 OR W8BEN. Well, my mother's income is below $10000 US dollars a year, so I don't think she needs to fill out anything. Also she never done taxes, because CAPI is not taxable, nor need to be listed, and I claim her every year, since she lives with me, she is handicapped and I am her caregiver. Does she need to fill out any forms, or I need to inform the bank that she is not in any of those brackets ? We don't want the bank in Romania to give our friend a hard time when she will try to pick up her retirement money. Thank you !

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

20,390 satisfied customers
After I filed my taxes, I received a 1099-R in the mail for

Hi,After I filed my taxes, I received a 1099-R in the mail for a 401(k) distribution that I got in 2016 after I turned 59 1/2. At the time, I withdrew $40,000 from my 401(k), but I simultaneously paid $8,000 in federal income tax and $1,600 in state income tax, so I really only received $30,400. Since the tax was taken out at the time of the withdrawal, do I still need to file an amended return based on this 1099-R? And if so, will there be a change with regard to my tax refund, which I already received?Thank you in advance for your advice!

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39,048 satisfied customers
I bought out a partner at beginning of september, then

I bought out a partner at beginning of september, then started operating as a single member llc. How is this structured in the tax filing?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I bought out a partner. Do I need to file a short term year if we ended the first of September?JA: Is there anything else important you think the Accountant should know?Customer: Just trying to figure out what to do to file.

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39,048 satisfied customers
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