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In 2019 Sch E, I stated the time/reason of stopped using the car. In 2020 Sch E, can I restate using the car again? What will be the tax treatment under this situation? Thanks!
CL7 ‎Posted 2m ago
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Any one have experience for advance rental income reporting on taxes? rental income received for the 2019 June -2020 May in advance. One professional stated I can report the income for 2019 and on the expenses I can place Jan-May part of income as de... read more
seenammamathew ‎Posted 2 hours ago | Latest post an hour ago by cskcpa20
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I have a question: Background: I am recently amicably divorced. We had our house on the market but due to the covid19 situation, have decided to cancel and spend time doing improvements to the house (like a new roof, etc.) while being roommates. This... read more
ingajahn ‎Posted 3 hours ago | Latest post 3 hours ago by rjs
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The general responses aren't helpful. I don't know if this is considered a sale. I cashed out some of my mutual fund. What do I fill out? Turbotax is confusing when I get to the 1099-B form.
d0836 ‎Posted yesterday | Latest post 4 hours ago by fanfare
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Hello, I am interested in trading stocks in the US but I am a US citizen temporarily living abroad. Not sure if relevant but just in case, I use a foreign earned income exclusion to avoid paying double tax. The software I intend on using for trading ... read more
gb945 ‎Posted 14 hours ago | Latest post 4 hours ago by fanfare
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I have a special assessment that is due to repairs that are required from damage over-time "It consists of repairs and replacements to certain exterior building envelope components and remediate underlying damage caused mostly by water intrusion such... read more
rfroundhill ‎Posted 8 hours ago | Latest post 5 hours ago by Carl
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In California you need to declare dividends and capital gains of investments on HSA accounts.Calculating dividends is pretty easy. The problem is calculating the capital gains of sold investments: HealthEquity (HE) does not report cost basis of sales... read more
David36 ‎Posted June 6, 2019 | Latest post 7 hours ago by BillM223
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I recently invested in USO (to be specific I bought in at $20.90 and got 95 shares). I invested without knowing the taxes that will be implemented on it, and now I am worried about how much in taxes I will have to pay. I am aware I will receive a K-1... read more
enclaust ‎Posted 19 hours ago | Latest post 8 hours ago by HACKITOFF
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The list of account activity shows two funds with capital gains, but there is no 1099-B.
lumminan ‎Posted 8 hours ago | Latest post 8 hours ago by macuser_22
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I have a long-term gain of $2,220. In the forms, this is added as standard taxable income. From IRS information, the tax on long-term capital gains for me should be 0%. Why is TurboTax figuring this wrong?
whlife ‎Posted 13 hours ago | Latest post 8 hours ago by HACKITOFF
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saadims ‎Posted 12 hours ago | Latest post 9 hours ago by HACKITOFF
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My husband, myself and my non-dependent son have our names on a mortgage for a condo that he is living in while attending school. How do my husband and I account for it since he is paying the mortgage? Secondly, how does he account for it?
dah2410 ‎Posted 13 hours ago | Latest post 12 hours ago by Carl
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I have 5 separate bank/brokerage accounts which sent me forms 1099-INT and 1099-DIV for each one. I was therefore able to enter the amounts separately for each account.I also received a Form 1099B for each account. However, the program only allows me... read more
Bobjuggler ‎Posted yesterday | Latest post 13 hours ago by Bobjuggler
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Are there restrictions on how I spend/invest money taken from 401k plan using CARES act?Do I have to spend it?Can I re-invest it?Buy real-estate?What type of reporting will be required at the end of the year for my 2020 taxes?Thanks.
joelw1lson ‎Posted 14 hours ago | Latest post 14 hours ago by macuser_22
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