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I have a private company stock deduction over $5000 in value.  I need to get its appraised FMV in form 8283 part 1 section 3 column c (Fair Market Value) and get its net present value deductible amount in form 8283 part 1 section 3 column i (Deductible Value).  I have tried MANY combination of of entry but i simply can not make column i populate.  any tricks or ideas?  

Hi, I was a resident in 2023 and had 3 private pension schemes from my job. Moved back to my country, abandoned my green card and was a non resident for 2024. I withdrew my contributions, and all the companies took 20% of tax. I received 1099Rs. I know I need to pay a 10% penalty too. The contributions were my only income. I understand I need to file 1040NR, fill out line 5a and 16 etc.. But I want to make sure the income is not NEC? Im also filling schedule 2 for the penalty, and form 8840 as a non resident. I'm not reporting income from my home country as I already reported it here. Same with US bank interest that I believe I don't need to report as a non resident now. If someone can confirm my understanding I would appreciate it. Thank you

A friend of mine separated from employment where he had a 401(k). Over the years, he purchased his employer's stock with contributions deferred from each paycheck. His employer also made matching contributions and those funds were used to purchase the employer's stock as well. Employer contributions were not taxed at the time the contribution was made. Due to the separation, he now needs to take out the money from his 401(k). He decided to retire, so he is considering rolling over to an IRA. He heard about the NUA and the option to distribute the employer stock to a taxable brokerage and pay tax only on the contribution he made (cost basis), in the year of distribution. He is confused however on the employer contribution that was used to purchase the stock. The stock has appreciated substantially over the decades that he worked. He found the below paragraph in 2024 IRS publication 575, page 16, and worried he may have to pay tax on a substantial amount if he distributed the stock to a taxable brokerage account (his contributions plus the market value of the employer's contributions). He was born after 1936 and intends to distribute/rollover the entire 401(k) account.   Although the title for 2024 publication 575 says "pensions and annuity income", Page 16 Distributions of Employer Securities says "Qualified retirement plans," and his 401(k) is a qualified retirement plan. Here's the formula on Page 16, to figure the cost basis when employer contribution is involved: Your basis in the employer securities is the total of the following amounts. • Your contributions to the plan that are attributable to the securities. • Your employer's contributions that were taxed as ordinary income in the year the securities were distributed. • Your NUA in the securities that is attributable to employer contributions and taxed as ordinary income in the year the securities were distributed.   Please help clarify if this is the correct way to figure taxable amount if the stock is distributed lump-sum/non-periodic distribution to a taxable brokerage account.   Thank you

My dad was terminally ill in 2025. A small amount was received from his LTC amount in excess of his expenses. I've read in other questions that there is a limit before the excess amount becomes taxable of $360 per day, but its confusing as to when this applies.