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I have a client who was determined to have been overpaid in
I have a client who was determined to have been overpaid in 2015 & 2016, & she owes money back to her employer. She is paying the over payment back. Should her 1099 from 2015 & 2016 report that overpa… read more
Lev
Lev
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Bachelor's Degree Equivalent
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Lane, please advice/confirm on following: NOL for 2016 has
Lane, please advice/confirm on following:NOL for 2016 has not been chosen to forgo to the future years. I will have to apply to 2014 first before 2015 is considered. Client does not qualify for the fa… read more
Lane
Lane
JD, MBA, CFP, CRPS
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I had a stock ( losses) in 2016 ST (- $23K) and LT (-$ 49k)
I had a stock ( losses) in 2016 ST (- $23K) and LT (-$ 49k) In 2017 I have ST realized loss (-1400) with a wash sale loss disallowed of $43K and a LT gain of $8K 1st do I deduct the $43K from the (-$1… read more
Carter McBride
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Investment section says I have an $816 loss carryover from
Investment section says I have an $816 loss carryover from 2016. Where do I enter that loss? I have the 5 person return package. … read more
Arthur Rubin
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I received a 2016 K-1 from Vanguard Natural Resources LLC
I received a 2016 K-1 from Vanguard Natural Resources LLC Series B Preferred Units noting a $7323 Amt in Guarantee payments K 1 Part III Box 4. I never received the payment. VNR went to bankruptcy. Ho… read more
Dr. Fiona Chen
Dr. Fiona Chen
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Can you assit with questions related to schedule E? I'm
Hi. Can you assit with questions related to schedule E? … read more
Lev
Lev
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Bachelor's Degree Equivalent
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My husband and I file jointly. I started to collect social
My husband and I file jointly. I started to collect social security at age 63 for part of the year 2016. He made all the money, I did not. I have been listing myself on the schedule c in the past. His… read more
Tax.appeal.168
Tax.appeal.168
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This question is for Lane, JD,CFP, MBA My wife and myself
This question is for Lane, JD,CFP, MBAMy wife and myself would like to establish SEP IRAs. I am 70 plus years of age and still working; I have a regular IRA, Roth IRA and 403B and 407B plans trough my… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,940 satisfied customers
In 2015, there was a $99,868 Net Operating Loss carried over
In 2015, there was a $99,868 Net Operating Loss carried over from a prior year and was entered on line 21. That was offset against other income on lines 7 to 20. Line 22 - total income was a NEGATIVE … read more
rakhi.v
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What type of health coverage do I need to buy if I'm self
What type of health coverage do I need to buy if I'm self employed and i want to take the Self-employed insurance adjustment on page 1 of 1040?… read more
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Lev
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I have another question. If my friend is filing as
I have another question. If my friend is filing as self-employed for the first time in his life this year, at what date does he start counting, and what date does he end? Does it start, for example, w… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I need to reduce my 2016 MAGI by about $12,000. What can I
I need to reduce my 2016 MAGI by about $12,000. What can I do? (I've already accounted for the max IRA contribution, and $3K in stock loss, and am filing single) I do have a small business, but wasn't… read more
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I'm starting a small event planning business and I have
I'm starting a small event planning business and I have deductions and small intakes of income, but it's December. I'm not sure how to handle this year's and next year's taxes … read more
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Because of nursing home costs in 2015, we had a negative
Because of nursing home costs in 2015, we had a negative figure of over $67000 on our income tax. Can that be used on our 2016 income tax? … read more
emc011075
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I have a large business loss, that actually bring my taxable
I have a large business loss, that actually bring my taxable income to 0. will this eliminate self employment tax as well? … read more
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My annual income for 2012 has been approximately $25,000. So
My annual income for 2012 has been approximately $25,000. So far, I have paid approximately $4,000 in income tax. I recently started a small business that has generated approximately $500 in income. F… read more
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I have a gas lease bonus payment that was payable to me and
I have a gas lease bonus payment that was payable to me and my wife for 2008. In 2009, I used some of these proceeds to operate my business. I was unemployed for a period in 2009 and subsequently, wit… read more
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I have no earned income for 2006, I left my job to persue ...
I have no earned income for 2006, I left my job to persue real estate investing. I recently bought a distressed property for 62k my total repair costs and holding costs are about 20k for 82k total exp… read more
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