asked
Using Turbo Tax, I was able to download all my investment 1099 forms from Fidelity, except one from Bank of America's private banking. I entered both short and long term gains manually. The software told me I need to mail a copy of my 1099 from BoA to IRS. Is that correct? For all other accounts, which were downloaded directly through Turbo Tax, do I need to do the same, i.e., mail a copy of the 1099 to IRS? All accounts are stocks and bonds managed by Fidelity or BoA.
April 28th, 2023
My small business shut down in January 2023 due to changes by the Department of Agriculture. We had zero sales and had contributed $6091 when we opened in 2022. What should I do with the amount contributed by the partners, and how should I handle this on my tax return?
June 15th, 2024
Mom and Dad are in hospice. They have a trust to give their home to my sister and me upon their death. My sister is on Medi-Cal and I am not. Will the state/feds need to recapture my sister's medical benefits before giving us the proceeds to their home?
December 5th, 2024
Trying to enter a Journal entry in QuickBooks for our 3rd party payroll service and need to account for the employees' Simple IRA deduction, PFL, and DBL. How should I structure the journal entry to ensure it balances and allows for reconciliation?
April 24th, 2023
I became the trustee of my family trust fund with Alliance Bernstein in 2005 after my brother's death. I have managed the yearly information with my other assets. This year, H&R Block attempted to complete the Trust Fund form for my taxes, but I only have the last four digits of the account number. Alliance Bernstein informed me that only the IRS can provide the full account number. How can I obtain this number to complete the form on time?
April 19th, 2023
How do I make a payment plan for my federal tax debt?
December 14th, 2023