Pacun

so, technically, it is a no brainer to make it taxable since the parents return is not negatively affected... only the AOC benefit, correct? At worst, the student would have to pay at parents rate.

If your client is not a World Bank employee exempt from US tax, even though he is not a US citizen or green card holder, if they are present in the US for more than 183 days, they are considered as US residents for tax purposes by meeting the Substantial Presence Test SPT. Therefore, they are required to report worldwide income on his US return. Substantial Presence Test | Internal Revenue Service (irs.gov)

ALL of you should do this to your windows 10 or 11 computer. Run cmd as admin, type sfc /scannow and press enter. (any corrupted file will be replaced) I do this every time I remember maybe once a month. To the poster: Remove ALL your printers from Windows. Restart your computer, install ONLY the printer that you use. Do that for a couple of days and see if there is a different. If you need to install other printers, do one every other day. Also do this: 1. Press Windows Key + R then type services.msc and hit Enter to open the Services window. 2. Scroll down & look for Print Spooler service and then select it. 3. Right-click on Print Spooler service then select Stop. 4. Press Windows Key + E to open File Explorer then navigate to the following folder: C:\Windows\System32\spool\PRINTERS 5. Delete all the files in this folder and then close File Explorer. 6. Go back to the Services window and right-click on Print Spooler service then select Start.

What is this link? an endless loop?

No, I am just making the scholarship taxable so that AOC comes to play.

That's exactly what I did but I think there is a more elegant way of doing it. In any event, the end result is the same. I entered "Less scholarship already reported as income elsewhere in the return" 3,000. And then I entered 3K on Sch 1, other income, SCH 3,000 Thank you.

If I recall correctly, line 7 on 1040 used to dot SCH for taxable scholarship if entered correctly. How do I do that on the new 1040 line 1?

It is interesting to see that if you have profit on a house and you stablish residency on another state where there is no capital gain taxes, you can save about 100K in a million dollars capital gains.

The organization clearly has its income exempted if you are NOT a us citizen or resident. He is a resident based on the days he has being in the US since he doesn't hold a G4 visa, which pretend that you don't "exist" in the US. I am going to send my question to NATP research team and see what they say.

Is the form easy to prepare? I think I have done only one a few years ago.

Venezuelan got advance parole in Colombia and was sponsored by one of his clients. The world bank gave him a job upon arrival and he made $35K. To me he has to file taxes, but he has consulted with the "tax department" of the world bank and has been told that ONLY US Citizens and Legal Permanent Resident ("green card holders") are required to pay taxes on world bank income. That's is correct but the way I interpret it is: If you have a G4 visa through the world bank, the income is not taxable. Any suggestions? I do believe he has to file but my world against the HR department and "tax department" from the world bank is weak.

Married US citizens went to live in Spain 10 years ago and left a house in the care of their three children. Children lived there and maintained it and paid house taxes yearly. Cost of home, $400K sold for $1,200,000. Improvements $100K. So profit was $700K. Their income is only about $10K each in SS. Any breaks on the profits of the house?

Do you know if Tesla's 2023 qualify for the EV credit? I would assume that Tesla has used up the quota a long time ago.

Do a fixed asset and then link it to Schedule F or C as needed. You have the choice of mileage or actual expenses which include depreciation.

FOMO will be next year when my glass is almost empty and bribes for the bartender will be flying left and right.

DC hair stylist was hired by a mini star and he traveled twice to CA, 3-day and 4-day trips in 2023. The company for which he works issued his W2 with CA withholding. At first glance, I thought I was ONLY going to ask CA for his withholding refund but because he traveled to CA, I think I should do something different.

This bar, with the bartender and all people involved will be open for good drinks again in a couple of years after you respond to the "last call". This is the common reaction. Next year, when I will be enjoying my drink, people will see me enjoying and they will want a drink. They will give extra money to the bartender in order to join me but at that point, the bartender will nicely take their money and serve them exactly what you are describing. TIMING is everything!!!!! The bartender has started softly saying "last call" it is up to you to order a drink now and join me and other enjoy the party. Why did I say for ever: because this time will be remembered as the best run ever. More runs will come, but not like this one. By the way, QNT and Gala above are now in profits. Gala GALA $0.04471 QNT $125.42 I think I will post again on April 24th ish to follow my original plan.

chicken phonetics for pollo is polo.

From another post: " On 4/24/2023 at 6:07 PM, Pacun said: Her timing was bad. I have been there and the lesson has been learned but this time is different. With lesson in my favor and $50K to invest, I would buy right now the following: 100 QNT coins at $110 each = $11,000 10,000 RNDR coins at $1.75 each = $17,500 1,000 AVAX coins at $17 each = $17,000 112,500 GALA coins at .04 = $4,500 In a year and then in two years, I will check how much each coin costs and multiply by the coins "I would have bought but I didn't because I was a polo or I didn't have the money". Expand I am a bit early than a year but here we go: Based on current prices: 100 QNT at $104 = $10,400 for a loss of $600 10,000 RNDR at $7.38 = $73,800 for a profit of $56,300 1,000 AVAX at $36.89 =$36,890 for a profit of $19,890 112,500 GALA at $0.03 =$3,375 for a loss of $1,125 So: -600 56,300 19,890 -1,125 Profit equal to: $74,465. As someone suggested, invest BIG, so let's say you had half of million to invest: Profit $740,465. Another point, soon after I posted the above last year, the two founders of GALA sued each other, so at that point, I would have sold GALA and purchase another coin that might not be in huge loss. The parabolic bull run has not started but I will post in March or April next year. " John, I like that idea of starting big, especially this year. What do you do when then bartender says "last call, this bar will be closed for ever"?

I am a bit early than a year but here we go: Based on current prices: 100 QNT at $104 = $10,400 for a loss of $600 10,000 RNDR at $7.38 = $73,800 for a profit of $56,300 1,000 AVAX at $36.89 =$36,890 for a profit of $19,890 112,500 GALA at $0.03 =$3,375 for a loss of $1,125 So: -600 56,300 19,890 -1,125 Profit equal to: $74,465. As someone suggested, invest BIG, so let's say you had half of million to invest: Profit $740,465. Another point, soon after I posted the above last year, the two founders of GALA sued each other, so at that point, I would have sold GALA and purchase another coin that might not be in huge loss. The parabolic bull run has not started but I will post in March or April next year.

I miss read your past... sorry. Yes, you must have the federal return filed correctly all the time, with extra care when immigration papers are involved. Most of the time, people don't mind even if they have to pay extra taxes because they don't want to risk the "papers".

Companies close all the time. Why do you care what happened in the last year when the reality for which you have been hired is to prepare the taxes based on the documents in front of you... you are not hired to verify the validity of each W2 or 1099 forms. I guess this is not my main job but when people start questioning the validity of the forms, I hand them back to them and I say: if you believe the forms are wrong, go back to the issuer and solve the issue. After you solve the issue, come back to me when you are ready to file your taxes. I am not a financial advisor, nor am I an attorney, nor have you hired me as such.

Save your laugh for April 15, 2025. I am planning to transfer all (EVERYTHING) to 20 crypto coins or tokens. I must sell next year and profits will be taxed as capital gains personal level. A lot of it will be short term gains. Is there a way to save some in taxes if you have stock (similar to crypto) and you must sell everything in one tax year? Current prices for potential coins or tokens: Solana 102 QNT 103 ABT 1.8 Beam .031 Tia 16.64 Jup .50 AVT 1.82 PNG .3

I agree with bullldog Tom. Having receipts that the person paid the credit counseling company means nothing unless you read the whole contract, have all the credit cards statements from 2 years ago, you added them up, you add the interest accumulated until the debtssss were paid off or discharged and THEN add all the one time fee for the counseling fee and monthly fees. Then you see how much he paid and how much the 1099-C should read. Again, I think we make things bigger sometimes. If he has a 1099-C, just work with that... see if he was insolvent the day before the debt was discharged and report it. My crystal ball tells me that no one was scammed in this case.

I like your answer. Why I feel that sometimes we make things harder on tax payers. Let it be the way it is. The states are happy, the clients are happy, the Federal is happy. Immigration couldn't care less for the state taxes... it is federal law that they represent or follow. As long as the Federal return is filed correctly (which it is in this case), they are OK. When I have filed my relative petitions, I just sent the 1040 and its meaningful schedules NOT the state returns.