asked
I had a CD IRA rollover of $30,410 to another CD IRA, a $7,677 pension, and a $16,000 distribution from a 401(k). The $30,410 and $7,677 are reported on line 16a, and the taxable amount of $7,677 is reported on line 16b. Where do I report the $16,000 401(k) distribution for which I have a 1099-R?
March 14th, 2024
My sister and I recently sold our parents' home after their death. The house appraised at $241,000, but we sold it for $125,000 to our daughter, gifting her $85,000 in equity. The original purchase price was $210,000. How much in capital gains will we have to pay come tax time?
September 8th, 2024
Someone has a small thrift store and files a Schedule C for it. They have $75 in merchandise that was stolen during the year from the store by customers. Where does that expense get entered on the Schedule C?
December 7th, 2024
Can a self-employed person deduct health insurance premiums as a business expense, and how does reimbursement from the government affect this deduction?
September 23rd, 2024
On Schedule SE, I owe $3241. How do I translate this into the 50% deduction mentioned for Form 1040, line 27?
September 6th, 2024
For self-employed individuals, how should health insurance premiums be treated for tax purposes, and what are the implications of receiving a reimbursement for these premiums?
October 5th, 2023