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I have treasury bills in a taxable account and the interest is exempt from California state income tax. I also have treasury bills in my IRA and was wondering if it's possible that this interest income could also somehow be treated as exempt from sta... read more
ssr025 ‎Posted Sunday | Latest post yesterday by ssr025
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Hello. I am in the process of purchasing a second home in my hometown, and I am going to let my recently widowed mother reside there rent free. We have very few reservations about this arrangement in light of our overall relationship. We do have one ... read more
pickly2023 ‎Posted Monday | Latest post Monday by pickly2023
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Hi! Background:- California resident & US citizen- 1099 contractor & have a CA Single Member LLC- Plan to relocate family and myself to Spain on the Digital Nomad Visa- Still trying to decide what's better - keeping the CA LLC or closing it down- Pla... read more
danirami89 ‎Posted Friday | Latest post Sunday by TomD8
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I'm thinking of capitalizing costs under 266 this tax year (2018) for a rental property that will be vacant when I list it. I will be painting, refinishing floors, refinishing sinks and replacing countertops. I understand these are not deductible if ... read more
radleresq ‎Posted June 3, 2019 | Latest post Saturday by Critter-3
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luye4504 ‎Posted Friday | Latest post Friday by DoninGA
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I sold 2 rental properties one in December 2020 and another in March 2021, used a QI who bought the replacement property also in March 2021. I understood that I had to file the entire exchange as if it happened in the year I sold the first property. ... read more
KenAndRE ‎Posted Friday | Latest post Friday by Critter-3
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I am familiar with inherited stock having its cost basis based on the date of death. I am also familiar with taking the high and low on that day to determine the average as the new cost basis. I have kept detailed and accurate records in this regard.... read more
Themushj ‎Posted Wednesday | Latest post Thursday by rjs
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5
My wife and I own 2 rentals in WA state (community property). As part of estate planning and asset protection, I am going to move the ownership under saparate LLCs. Now it will be disregarded from IRS perspective. Guessing this is by default. Questio... read more
rmjeeves ‎Posted Wednesday | Latest post Wednesday by Carl
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jus_jessi ‎Posted June 3, 2019 | Latest post Wednesday by Azrael16
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I already entered my 1099-INT information. In another section it asked me if I was collecting payments and now it is asking me to enter in Installment Sales Summary. So I have to do both?Thank you!
TaxLu ‎Posted a week ago | Latest post Wednesday by TaxLu
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10
I have a large capital improvement to a multi-unit apartment building. Costs were incurred in 2022 (engineering, permits, etc.), but the project won’t be completed until 2023. I plan to depreciated this asset once the project is complete and it can b... read more
Amiller1 ‎Posted April 5, 2023 | Latest post Wednesday by Critter-3
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Virginia just adjusted my father's 2022 return that I did for him on TurboTax. The problem was caused by an error in the VA state tax program. Line 7 of Schedule OSC should pull from line 18 of Form 760. Instead, it pulls from line 16, thus overstati... read more
mtb58 ‎Posted a week ago
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Hi All I'm working on my mom's taxes. Her and my father owned rental property for over 11 years and he passed away this summer. We had the property appraised for date of death value and ending up selling the property at the end of the year. My mother... read more
dplew ‎Posted February 22, 2022 | Latest post a week ago by dennis_b
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