asked
I am renting my apartment in NYC and also renting out an extra bedroom on Airbnb. I received $3,670 in 'Rents' on my 2012 1099-MISC. Since I don't own the apartment, can I deduct a portion of my rent as an expense related to the Airbnb income? If so, how should I calculate this deduction and where should I report it on my tax return?
June 9th, 2024
How do I determine the amount to put in line 11 of Form 6251 for the Alternative Minimum Tax Net Operating Loss (AMTNOL)?
April 17th, 2024
Are subsidies under Obamacare subject to the Federal Payment Levy Program?
April 1st, 2023
My husband withdrew money from his IRA for less than 30 days and then redeposited it back into the same IRA. We received a 1099-R form. Do we need to report this on our taxes, and if so, how should we handle it?
April 13th, 2023
We had 2 rental properties (duplexes) that we sold in 2006, and due to spiraling values at the time, we had to write checks at closing. How and where do we recoup that? It was never put on our taxes, but we want to get credit for it.
October 4th, 2024
I was laid off in Dallas on 4/1/12 and then hired by a German company in Germany on 6/1/12, where I became a German resident and was paid in Euros, paying German taxes. I was laid off again on 11/25/13 and moved back to Dallas to work for AT&T. Do I need to inform the IRS about the income I received in Euros and the German taxes paid in 2012, even though I don't have a W2 from the German company and they likely didn't send any forms to the IRS?
September 7th, 2023