asked
Last two years, I owed $8000 in taxes. I am on a payment arrangement and currently owe $8600 to the IRS. I am completing my taxes this year and owe about the same. Is it better to make a $5000 payment on my back taxes, or to file estimated taxes and send $5000 with this?
January 20th, 2023
I cannot get my Balance Sheet to match in TurboTax Business. I have a printed copy of the balance sheet since I cannot import from Quickbooks to TurboTax. It's a C corp with little payroll. I need to map the entries from the balance sheet into their respective columns in TurboTax Business so items match up. Can you help with this and what is the estimated cost?
August 5th, 2024
My 2017 tax return is complete and I have had problems e-filing. The reason given the last two times is that another return with my primary number was already filed. I will send by mail but owe money which I would like to put on a credit card. When I go to one of the services it indicates that I've already used the service. What should I do?
September 26th, 2023
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