Brett H. asked
On form 1099-OID, I have an amount of $55 in box 8. When I enter it in my tax software, it comes up as a negative number instead of a positive number. Is this correct?
April 16th, 2023
Katelyn J. answered
No, this is not correct. The amount in box 8 of the 1099-OID form should be a positive number, as it...
April 16th, 2023
Create an account to view answers and interact with the community!
I need to fill out an IT-2104 form as an international student who is a junior in college and is taking an internship in the US for the first time. I am single and would like guidance on how to complete the form.
July 13th, 2024
How can 50/50 shareholders of an S corp take different distributions of income and not have tax implications that are different than the actual amount taken? Specifically, can unequal distributions be structured as loans or payroll advances, or must they balance out to 50/50?
October 3rd, 2024
As an owner of a single-member LLC operating as an S-Corporation, am I eligible to contribute to a SEP (Simplified Employee Pension) plan, and if not, how do I correct past contributions made based on incorrect advice?
September 20th, 2023
I just found out that I still have a 1099R, but I already filed my tax returns. What should I do?
April 2nd, 2024
I have a client who is filing 2014 and 2015 taxes. He has some thousands of dollars in penalty for 2014 and is eligible for a first-time abatement of penalty. Should I file for this when I file the tax return? Do I need to have a POA to do so?
May 11th, 2024
