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I am a State resident but with an interest % in a California
I am a Washington State resident but with an interest % in a California S Corp. I forgot to include this California K1 on my tax return in 2014 & 2015, so I just received a letter from CA saying they … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
I need to file current and back taxes for someone who
I need to file current and back taxes for someone who experienced a catastrophic accident in 2011 and incurred some pretty high medical expenses (over 200k) since then. Specifically, I have three years of back taxes (2014, 2015, and 2016) to file and 2017 taxes. I did not worry much about 2014 & 2015 taxes being overdue because, given the high amount of medical expenses paid to health care facilities, I knew a refund was due for 2014 and 2015. However, 2016 is not as straight forward because those expense were for home health care. In addition, in 2017, a settlement was received, and my understanding is that the full amounts that were already deducted for medical expenses in 2012 and 2013 must now be included as income on this years taxes since there is no allocation for the settlement. Here's what is unclear to me: (1) when the back taxes for 2014 and 2015 are filed, can the medical expenses still be deducted for those years since the settlement wasn't received until 2017, as that would ensure a refund would be due for those years and penalties could be avoided? (2) Even if some of the home health expenses can't be deducted for 2016 and taxes are owed, if refunds are due from 2014 and 2015, would that reduce the amount considered overdue for 2016, thereby reducing the amount on which penalties are calculated? (3) Assuming 1 and 2 above are possible, must the entire amount deducted for medical expenses from 2012 - 2016 be included as income on 2017? Note: By "entire amount," I'm referring specifically to medical expenses related to the settlement, I'm assuming other medical expenses that aren't related to the accident do not need to be repaid. Please correct me if I am wrong. … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I am working with a woman who was divorced last year. In
I am working with a woman who was divorced last year. In 2012 and 2013, she was married and her spouse filed their taxes. Those years were audited and it was determined they owed quite a bit more tax.… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
I have a tax question. In 2014 I filed a 1040 and on
I have a tax question. In 2014 I filed a 1040 and on schedule A I listed my state taxes from my husband's W-2 and my W-2 as well as my real estate taxes. I also filed a Louisiana state return that yea… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
Trying to finishe up my tax return and I can't figure out
Trying to finishe up my tax return and I can't figure out where to enter two tax payments I made last year-- I paid quarterly tax payments and entered those, but I have two other payments I can't figu… read more
Brian Michels
Brian Michels
Partner, CPA
Bachelors of Business Administration
422 satisfied customers
Our business, an LLC, showed a loss of $142,000.00 in 2015
Our business, an LLC, showed a loss of $142,000.00 in 2015 and owe no taxes. We owe $17,000.00 from 2014. My question is can we use that loss from 2015 against the 2014 taxes?… read more
Jonathan Tierney
Jonathan Tierney
MBA
664 satisfied customers
Actually, I guess I do have another question. In 2009, I
Actually, I guess I do have another question. In 2009, I received a notice from the IRS contesting my return from 2007. It wasn't an audit, I'm not sure what it was. But they basically removed a bunch… read more
Barbara
Barbara
Enrolled Agent, Paralegal
15,018 satisfied customers
In 2016, I filed my 2013 state and federal returns. I
In 2016, I filed my 2013 state and federal returns. I overpaid both in 2013, and will receive a refund from each. I elected to apply the refund on my state tax return towards state "2014 estimated tax… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,374 satisfied customers
I received a 1099-Misc from a previous employer. I received
I received a 1099-Misc from a previous employer. I received the money in 2015 and it was used to pay federal and state taxes for 2014 that were not withheld from my pay. I am now showing a large "non-… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
The income tax that i had to pay money that owe from my
The income tax that i had to pay for the money that owe from my profits will that be an income tax expense or an income tax payable because i pay last year $143 K dlls for year ending 2014 please advi… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,094 satisfied customers
My employer has started Aflac insurance premiums deductions
My employer has started Aflac insurance premiums deductions in 2015. I now owe $825 in federal taxes when in previous years I had a refund How can I make sure they've reported my W2 correctl … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,440 satisfied customers
My question is.. I became disabled in June 2014. I fought
Hello My question is.. I became disabled in June 2014. I fought for my short term and long term disability benefits I was entitled to from my now previous employer. In March 2015 I was awarded all my … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,374 satisfied customers
I received notice from the SSA that my husband was not
I received notice from the SSA that my husband was not eligible for the Social Security Benefits that he received in 2014 and 2015 and we are going to have to repay these at the end of September, 2015… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Can you clarify lines 4 & 5 on the State and Local Tax Deduction
Can you clarify lines 4 & 5 on the State and Local Tax Deduction worksheet for me? Is line 4 the amount paid with the extension and line 5 any remaining amount paid with the return?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,440 satisfied customers
I sold a rental property that I had been renting since 1993
I sold a rental property that I had been renting since 1993 in February 2015. I realized a profit of about $300k. As part of the transaction, estimated CA State taxes were withheld, but nothing for Fe… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I received notice from the military saying that I was overpaid
I received notice from the military saying that I was overpaid by $36K last year. How do I file this year?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I owe 2013 Iowa state taxes on the amount of $219.00, and
I owe 2013 Iowa state taxes on the amount of $219.00, and I didn't have the money to pay it in 2014, so I have not yet filed my 2013 Iowa income tax return. I have prepared my 2014 Federal and state o… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Hello, I am looking to move out to the US with my firm with
Hello, I am looking to move out to the US with my firm with my wife and 3 year old child. I will be living in Brooklyn, and my salary will be $200k. Please could you tell me what me what my net salary… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
968 satisfied customers
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