asked
Can you validate that the attached Schedule D is correct, considering: - Line 1a represents the 1099/statement for short sales from my stock broker Ameritrade. - Line 8a represents the 1099/statement for long sales from my stock broker Ameritrade. - Line 10 represents the loss from selling all my worthless shares from a 3-year-old investment in a startup. - Line 14 represents the 2020 balance of a Long-term capital loss carryover from previous years when I deducted $3,000/year. - Line 16 represents the total of previous lines that I have to enter on the form 1040 line 6.
April 29th, 2024
I am 77 years old and retired. I was told that I could withdraw funds from my 401K and subsequently replace it within 60 calendar days and not have to pay federal taxes on the initial distribution. Is that true even if the two transactions straddle two different tax years?
January 28th, 2023
For 1040 NR, capital gains are tax-free. However, I did not know and paid capital gain taxes in 2018 and 2019. Can I file amendments to get refunds? Do you know if this tax rule (no tax for capital gains) goes back to 2018?
June 18th, 2024
Under our LLC's proposed accountable reimbursement plan, we want to reimburse partners for car payments, insurance, repairs, and other vehicle expenses, deducting only the business portion based on the percentage of business miles driven. 1. Is this acceptable under IRS publication 29? 2. Does this need to be in writing? We are in Texas and taxed as a partnership.
January 6th, 2024
Do I need to pay taxes in the US for undistributed profits (no dividend payout) of a controlled legal entity outside of the US, and if so, what is the level of tax and where can I find detailed information?
December 19th, 2024
I have a 300 page/month contract and would like to know how much paper I have used so far this month.
December 30th, 2023