grandmabee

Office in home is NOT a rental. there is different rules for rental that's why the computer says 39 and not 27.5

I don't think if would go on A subj to 2% I would put on 4952 investment interest. He does not own the house right? or is he part owner? I still think your only option would be 4952

I received mine yesterday after my post hmmmm wonder if someone is watching.....

I never get the emails with renewals didn't last year either. I have been with AXT way back with saber. I usally call them after the 15th when I hear everyone else is getting emails. but last year I waited until Dec 1 to renewal and still got the discount

I have a 1099 Q Box 1 6415 gross dist box 2 earning -1100 box 3 basis 7600 grandparent closed account. no education expenses. I used the worksheet in pub 970 and I don't have any taxable because fund lost money no earning. but Now I wonder is the loss deductible? and if so where. account closed. anyone have any experience with these thanks

yes how does that work. So I reported the sale wrong in the first year for sale price? only down payment last year near end of year. I reported the contract price and then this year I am working on the imputed interest. are you saying I reported the wrong sale price because I did not use imputed interest

they can allocate any way they want as long as they meet other qualifications

BUMP

I know I have to impute interest unless there is some odd exception. But my real question is I do the interest and claim less principal on the 6252 but what happens to the balance of the prinipal contract? I have contract for 30,000 get paid 30,000 over the years which 3,000 goes to interest and 27,000 goes on to the 6252. what about the balance of 3000 that should be reported on 6252? they are not going to get any more money

are you saying one can take 4,ooo and the other 3250? but it would be better if one took the full 8,000

is imputed interest mandatory? I have a Fishing vessel sold on installment sale and the contact said no interest. not related. Must i inpute interest?

claim all the income then take the qualified expenses he paid on sch C

who was the RMD paid to? If after death should go to beneficary.

if the escrow account goes negative the bank will have no money to pay the taxes or insurance. I have not seen one go negative because banks usually won't pay anything if there is no money in the escrow to pay.

I have a big truck which was not subject to limits but this year (6th) business use down to 34.% So I know I must recapture the 179 and figure regular depreciation and claim in on 4797 part iv and income goes to sch c on other income line. But how do I adjust basis for the recapture to see what deprecation is for this year. Do I just change the cost on the asset form by the increase. I need help making the program work. thanks

What's up with the banks wanting us to write letters stating the client mailed their prior year return. I have done several non filers this year( of course only reason they filed was because they want a loan) and they come back and ask for a letter on my letterhead. This last one I told her take the return to the bank sign and have them mail it. That should be all the proof they need. If they need a letter they can write it on their own letterhead. I hate dealing with this during tax season. It would be nice if the non filers came in during slow time of year.

but then the 8879 does not have the dnc numbers on it

anyone from Hawaii. I have nonresident Hawaii. He works on a tug boat (merchant Marine). He flys into Hawaii and gets on boat then goes into international waters. He is a resident of Oregon. The W-2 say HI wages no withholding. I am trying to find out if he has to file an Hawaii return. He doesn't earn his money in hawaii Can anyone help with this.

she can claim HH the child name is just listed up by the HH box. Assuming she meets all the rules for HH

I did that before too but they missed one and we got a letter and it showed listing of every w-2g saying it wasn't reported and the penalty was higher and we could not get out of it. I now list every one or I paper file.

but still, this is a state court matter. if she will not sign the 8332 then he cannot claim the child and does not qualify to claim the child. custodial parent does. his only choice is contempt of court. take her to court for the amount of money he losses for not claiming child.

Does anyone know anything about Manulife? It used to be John Hancock then merge or ? into Manulife. In 6/06 if did a 2 for 1 spilt. I'm just not sure if this is a demulized(sp) policy like metlife was back years. I have been on their website and big charts for over a hour and can't seem to find anything .

the trust was a family trust and disregarded for tax purposes. the stock dividents and 1099-b were and is listed in the family trust name so does this mean stock was held as community property? If not how do I tell if held as community property? thanks

thank you. I wasn't sure if trust would change things and I am correct in assuming she get 100% step up(hope)down on stock because of community property state

a couple have a trust and one dies the stock in the trust does it get a step up basis? they live in a community property state. the original trust list both names not the trust just list the wife's name.