About snahid11

snahid11 · ‎April 30, 2020

I have been deducting gas mileage for rental expense for the past few years. I just realized I may have to do depreciation for the car. Do I need to go back to the last few years taxes and correct this? or can I just start depreciating the car starting this year? Thanks in advance.

snahid11 · ‎April 30, 2020

Does rental expense carry over to the following tax year, if you have maxed out on how much you can deduct? Thanks

snahid11 · ‎April 30, 2020

Hi, I have two rental properties. As I replace appliances, roof and etc, I do depreciation for them. Someone asked me if I do Passive activity. I had never heard of passive activity. What is passive activity? how do I apply to rental? How is it different from depreciation? Thanks Sherry

snahid11 · ‎March 3, 2020

I have a rental property. The landlord (home) insurance cost from 6/18-6/19 is one price ($750) and from 6/19-6/20 is a different price ($850). Do I need to calculate the cost per month for both years and figure how much the cost was for 2019 or is my expense what I pay in the tax year I'm filing (6/2019 for $750)? Thanks in advance.

snahid11 · ‎March 3, 2020

My company contribute $1500 for my HSA account. Do I need to report that in my taxes? If so, where do I report this contribution?

snahid11 · ‎March 3, 2020

I got a 1099-DIV for $80 dollars. Her social security is on the account. Since she doesn't file for tax return as she doesn't have any income, do I need to claim that income? Do I need to modify the for to reflect her social security number or do I keep my SSN on the form? Thanks

snahid11 · ‎June 4, 2019

What amount is considered a large refund to do the recompute?

snahid11 · ‎April 6, 2019

As I add my rental expenses, my federal refund keeps reducing but state remains the same. Can I just not report the expenses? What are the cons for not reporting expenses? Thank you in advance.

snahid11 · ‎April 6, 2019

When do Use 'De Minimis safe Harbor election', 'Capitalize Repair and maintenance costs' or 'Small Taxpayer safe harbor election'? I'm not sure when these are used. Thank you in advance.

snahid11 · ‎March 19, 2019

Hi, I have few questions regarding rental property. 1) I have the following items I need to depreciate for a rental property: Roof /washing machine/dryer/dish washer I have not included these expenses and I'm already at $0 income. Which Depreciation Method, Depreciation Life and Convention should I use for each? 2) Can I include HOA for the rental as an expense? If so, what type of expense would these be? Thanks Sherry

Date Registered	‎April 10, 2018 9:30 AM
Date Last Visited	2 weeks ago
Total Messages Posted	11

Car usage - Rental Expense

Does Rental expense carry-over?

Passive Activity

Rental Property

HSA

Daughter is 13 yo depending with investment accoun...

What amount is considered a large refund to do the...

Rental expense are reducing my refunds

Repair Regulation Elections

Depreciation Method and Life