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I was 1/5 beneficiary of a life insurance policy in 2015.
I was 1/5 beneficiary of a life insurance policy in 2015. The 1099R did not have my name on it but named only one of our siblings in the whole amount. We did not claim it on our taxes in 2015 and are being told that we should have. He was held accountable for the entire amount - approx 30K - by the IRS for tax purposes and states that we each should have paid taxes on the amount of our individual disbursements. We were not issued 1099Rs in our name. He was the only one. Are we liable and if so, will we also owe back taxes? … read more
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My son has been receiving dependent social security since
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Can I amend my 2014 tax to include announcing to carry
Can I amend my 2014 tax to include announcing to carry forward an NOL from that year? … read more
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I have a client who had a NOL in 2013 and did not file her taxes. Can she file now and waive the 2013 carryback and bring the loss forward against 2014 income. She has not filed 2014 and 2015 either, … read more
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Moving expenses.... I moved, company moved, to new work location,
Moving expenses.... I moved, company moved, to new work location, in 2014. It was late in the year and pass the company cut off to report the funds paid to me. It was added to my 2015 tax year as taxa… read more
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Stephen,I have an NOL filing question. I have a single
Hi Stephen,I have an NOL filing question. I have a single member LLC who files a ;Schedule C. He has an NOL in 2013 and 2014. I know time has lapsed for filing a 2013 loss carryback. So I plan to file… read more
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I had a rental property years. I only claimed 2 years of
I had a rental property for 11 years. I only claimed 2 years of ownership/deductions on schedule E in 2011 and 2014. Property sold in 2015. Can I recover all my missed deductions on 2015 taxes or do I… read more
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I had a section 1256 contract loss .I had 1256 contract
I had a section 1256 contract loss for 2015.I had 1256 contract gains on 2013 and 2014. Assume gains for both 2013 and 2014 are $100,000 for each year. 2015 loss was $300,000. Do I file 1040x for 2013… read more
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The taxpayer died in May of 2014. The firm that always does
The taxpayer died in May of 2014. The firm that always does her taxes did the filing for 2014. They only included income prior to the death, so the remainder of income (dividends, interest, etc) is IR… read more
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Taxpayer, 88, received 1099-LTC back years per diem
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My wife and I were just made aware that we are eligible to
My wife and I were just made aware that we are eligible to remove her income due to IRS Notice 2014-7. I can amend returns for 2012, 2013 and 2014 as well. Is there a particular order they should be d… read more
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I converted my personal property to a rental in December
I converted my personal property to a rental in December 2013. I used cost basis vs. fmv for depreciation. How do I correct this as I am selling the house at the end of January 2016. I havent filed 20… read more
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Robin. My question is about this: Latest News IRS working to
Hello again Robin. My question is about this: Latest News IRS working to implement new law; Reminds taxpayers to continue existing health coverage during interim period. The Trade Preferences Extensio… read more
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In 2013 I filed patent. I expensed the cost of the lawyer's
In 2013 I filed for a patent. I expensed the cost of the lawyer's fees (from my business - S corp)as it didn't seem like I would ever succeed. Now in 2015 I actually paid additional lawyer fees to pro… read more
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In November 2013, I moved to 200 miles away due to job
In November 2013, I moved to 200 miles away due to job change. When I filed my 2013 tax return, I didn't meet the time test. Therefore, I didn't report moving expense deduction in the 2013 tax return.… read more
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On 2014 return, my wife's healthcare credits were disallowed
On 2014 return, my wife's healthcare credits were disallowed because we had a 1099g tax refund of $23,439 generated because we pain the wrong state (NC) the estimated tax in 2013. When corrected in 20… read more
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. I have a couple of questions this year. I am in the process of starting a
. I have a couple of questions this year. I am in the process of starting a yoga studio...as of end of Jan. 2015. I purchased mats/refrigerator, etc in November 2014 business. I also paid rent in Dece… read more
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my husband past 12/27/13. We away file married joint. He
my husband past 12/27/13. We away file married joint. He never had taxes taken out of his retirements checks. All taxes came from job. I know have to pay his half of the taxes. Can I amend my taxes an… read more
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