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I took distribution from my 401K under CARES ACT. I did a
I took distribution from my 401K under CARES ACT. I did a partial repayment last year. What is the supporting document I need to provide to IRS to show that I made a partial repayment? What kind of fo… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
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I purchased real estate that was both residential and
I purchased real estate that was both residential and commercial use. As part of the sale, We agreed that of the purchase price, $50,000 was attributed to the business land and building. However, I wa… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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Ay my taxes. I am still not back to my full time job. I
ay my taxes. I am still not back to my full time job. I lived off my 401K distribution for COVID last year. Now the IRS wants $16,000. Help … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
7,009 satisfied customers
When filing my federal taxes this year I had to include
When filing my federal taxes this year I had to include income from my RMD I am now 73. At that time I realized that I had not included income from this acct on my previous years filing. How do I go a… read more
Rick
Rick
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We received a refund overpayment 2020 and must send the
we received a refund overpayment 2020 and must send the money back. How? … read more
Rick
Rick
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What reporting form do i use to report income for sub
What reporting form do i use to report income for sub contractor for construction & what box do I put the income in? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
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Do I have to pay tax on inherited property when it was sold
Do I have to pay tax on inherited property when it was sold in Dec 2020? … read more
Rick
Rick
MBA
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I sold my home in december 2020 and our new home will not be
i sold my home in december 2020 and our new home will not be complete until june 2021when should we report the proceeds from the sale on our taxes … read more
Rick
Rick
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I have not worked since 5/ 2019 but I have been paid through
I have not worked since 5/ 2019 but I have been paid through insurance do I file the amount I received in 2020 … read more
Rick
Rick
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I'm trying to fill out the 1120-s form, the balance sheet In
I'm trying to fill out the 1120-s form, the balance sheet In 2019 I had losses until the end of the year that I decided to changed the type of business I will be doing with the LLC-Scorp as such at th… read more
Roxanne625
Roxanne625
Master of Accountancy
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I took my RMD for 2019 (the first year I was required to do
I took my RMD for 2019 (the first year I was required to do so) in 2020 prior to April 1st. I received a 1099-R from TD Ameritrade for the tax year 2020. Do I need to file an amended return for 2019? … read more
Rick
Rick
MBA
14,486 satisfied customers
I am disabled and received my retirement what do i need to
I am disabled and received my retirement what do i need to do my retirement was for 122333.41 they took 24466.68 for federal taxes … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,437 satisfied customers
I have very difficult question, at least for me. Last year I
Hi I have very difficult question, at least for me. Last year I withdraw money from pension plan, like 401k and now I receive 1099R. I took that money only because of covid situation, I have been prom… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
23,416 satisfied customers
Haven't had to file tax return for several years due to only
Haven't had to file tax return for several years due to only receiving soc sec. Just sold home Oct 2020 and do I need to file a return for 2020 … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,437 satisfied customers
I live in upstate NY and work for a family as nanny. I work
Hi! I live in upstate NY and work for a family as nanny. I work 20-30 hrs. a week for $12/hr. Do we need to go "on the books" and will I need to claim this income on my 2020 tax return next year? … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,437 satisfied customers
I turned 70 1/2 in 2019. I distributed more than enough on
I turned 70 1/2 in 2019. I distributed more than enough on 3/26/2020. But how will the irs know that it is my 2019 due rmd, and not my 2020 due rmd? I know I will need another distribution by 12/31/20… read more
Anne
Anne
Master Tax Preparer
2,601 satisfied customers
Lane. When issuing 1099-misc to independent contractors, the
Hello Lane. When issuing 1099-misc to independent contractors, the amount put in box 7 is the amount billed by independent contractor in 2019 or amount actually paid to him? For example, payment for s… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,591 satisfied customers
Withdrew money from 401K in late 2019 to refinance home
Withdrew money from 401K in late 2019 to refinance home mortgage loan that drug into first week of 2020. Is the 401k withdrawl tax deductible since it was the basis for refinancing and the implication… read more
ALEX O
ALEX O
Partner O & G Tax
Master's Degree
5,811 satisfied customers
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