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Thank you for the response! Am I able to claim mileage if I drive from home to my 1099 patient's home? Or is that considered commuting miles.  Sometimes I will pick up my 1099 patients on the weekends when I do not have my full time job scheduled. 

@user17605556538 wrote: I honestly didn't think the FMV when the vehicle entered into business use was relevant from anything I've read online or in the instructions for Form 4797.   A bit more research leads me to believe I can include taxes and fees in the purchase price, plus any upgrades to the vehicle (after market remote starter)....thus my revised total cost or other basis is $19,093.    To determine the business portion of the total cost /other basis (2f) and gross sales price (2d), more research also leads me to believe I should use the lifetime miles driven (from when I purchased the vehicle until traded in), and not just the total miles driven since the vehicle entered into business use (correct?).   And, business portion of cost/other basis = 2.1% * 19063 = $400 (2f) Depreciation from IRS tables = $466 (2e)     You may want to re-read my original post.  Most of your questions have already been answered.   As I mentioned before, FMV would be used if the first calculation resulted in a loss.  But that doesn't apply to your specific circumstances.   Yes.   Yes, but only if the first calculation that I gave you (and what you are doing) results in a gain.  If it had resulted in a loss, you redo the calculations using the FMV and the miles since it was converted to a business.  But as I said, this doesn't apply to your specific circumstances.   Almost, but not quite.  As my original post indicated, Basis can't go below zero, so depreciation can't exceed the Basis.  Even though you added up $466 of depreciation, you only enter the amount UP TO the business Basis ($400).

This is answered in detail, with a diagram, in chapter 4 of publication 463. https://www.irs.gov/forms-pubs/about-publication-463   The short answer is you can claim the mileage from job location 1 to location 2 on the same day, but you can't claim the mileage from job 2 to your home, as that is considered part of your non-deductible commute. 

If you file MFS, your finances are separate and your refund will not be affected by his debts before the marriage.  Alternately, you could file jointly but include an "injured spouse allocation" form.  This is a request to the IRS to consider your refund separately from his debts.  Joint filing usually results in lower overall taxes because some credits and other tax benefits are reduced or denied when filing separately, but there is no guarantee the IRS will honor the injured spouse request or how they will assign the refund.  The IRS won't change your return if you file MFS but you may owe more tax.

What monies put in?  Your own or the payments from guests?  You don't account for your own money.  You will file it as self employed income on schedule C in your personal 1040 tax return.  Or you might file it as Rental income, I not sure.  But if you file it as a business on schedule C you cannot take a withdrawal or salary and include it as an expense on your tax return.  You don't pay yourself or enter a salary or withdrawal for yourself. All the business income and expenses are your personal income and expenses in the first place.    If you loan money to the business bank account.....the "loan" doesn't go on your tax return. It is just a transfer from a personal account to your business account. It's just moving funds from one pant's pocket to the other pocket. It's all personally yours. You just enter and account for the actual expenses you spent it on.   Oh and it matters how you set up the LLC.  If it is a Single Member LLC you have to elect to be an S corp or not.  If you are an S Corp you need to file a separate business return 1120-S for it.  I don't know how those work,  you might be able to show the money you put in.     Here is some IRS reading material…… IRS information on Self Employment https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center IRS Guide to Business Expense Resources https://www.irs.gov/forms-pubs/guide-to-business-expense-resources Turbo Tax Self Employed Tax Hub https://turbotax.intuit.com/personal-taxes/self-employment-taxes Turbo Tax Self Employment info https://turbotax.intuit.com/tax-tips/self-employment-taxes/beginners-tax-guide-for-the-self-employed/L2HLojrj5  

as a LLC an annual partnership return will be required if there is more than 1 member from 1065 instructions   Domestic Partnerships Except as provided below, every domestic partnership must file Form 1065, unless it neither receives income nor incurs any expenditures treated as deductions or credits for federal income tax purposes. **************** Entities formed as LLCs that are classified as partnerships for federal income tax purposes have the same filing requirements as domestic partnerships.   **************** to get reimbursed while a non-LLC just write a check to yourselves - nontaxable  Once an LLC best to put money in its account (may need a new account in the name of the LLC  - depends on the bank) to pay expenses. you are free to take out excess cash which on the partnership return is treated as distributions. if you have issues understanding this or need more tax advice sit down with a tax pro.for example as a BNB the  **********************  a BNB may subject its members to self-employment taxes 1) Short-term rentals: If renting out your property for 14 days or less, you do not have to report or pay self-employment taxes on that income. 2) Substantial services: Providing substantial services to guests can make your rental income subject to self-employment tax. 3) IRS guidance: The IRS has concluded that many short-term rental arrangements are subject to self-employment taxes. this se tax reporting is done through the partnership return then passes through from the k-1 that the partnership issues to each member which than flows to schedule SE in their 1040.

To efile a state return from the Desktop program has been $25.  If you buy the program from Costco or Sams you get a $10 rebate which is automatically applied to the state efile or first extra thing you buy inside the program like another state program.  But the $10 credit expired at the end of April so you have to file by then.  Or you can print and mail state for free.    

@skramblr is W11 really significantly more secure than W10. I see security updates issued for it which means there are flaws. Also, unless you check certain options when installing, you have MS as your roommate. having said that sooner or later an upgrade will probably be required as more and more apps drop 10 support.   

Unfortunately, not only hackers are making everyone's life miserable (If not draining their bank accounts !), but lots of companies are compiling all kinds of info on you! Example - I had to create an account with a company - after submitting the requirements, I was presented with the last 20 years of my life 30 seconds later !!!!  What ?? So much for privacy - privacy is living in the backwoods, no neighbours and computing offline - like this is going to happen !

FYI. H&R Block is showing pre-ordering and system requirements shows Windows 10 and above. https://www.hrblock.com/tax-software/ Software requirements Windows Apple Windows® 10 or higher Microsoft Edge Mac OS® X 12 or higher Mac® Safari® 17.6 or higher   Maybe TT will match them.