About DaveF1006

Employee Tax Expert

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I have been a tax preparer since 2009 and an Enrolled Agent since 2014. This is a second career for me and i love every minute of it. I would not trade this experience for any other experience in the world.

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Re: Form 3520 Guidance

It depends. Since your gift is from a person, you should leave Line 2a blank as this only is applicable if you received the gift from a trust. Here how to enter...

DaveF1006

Updated Jan 12, 2026
Re: Sale of Primary residence triggering AMT?

The common reason why this occurs is that the added income from the home sale may be above the thresholds for the AMT exemption amount. ($137,000 in 2025) Here ...

DaveF1006

Updated Jan 12, 2026
Re: form8938

You will enter the full realized loss of $45,086 rather than the $3,000 limitation limit shown on your Form 1040. The IRS wants to see the actual loss amount yo...

DaveF1006

Updated Jan 12, 2026
Re: FOREIGN TAX CREDIT, FORM 1116, AND SCHEDULE 3

No. I can't think of an instance when the IRS has raised this issue with a taxpayer who had more than $ 300 in Foreign Taxes but decided NOT to use Form 1116 an...

DaveF1006

Updated Apr 16, 2025
Re: Are the pretax employee paid health insurance premium contributi...

Box 14 is purely information and doesn't impact your tax return. Leave out the information in Box 14 and see if this will move past the error.

DaveF1006

Updated Apr 16, 2025

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Date Registered	‎January 14, 2020 9:01 AM
Date Last Visited	Thursday
Total Messages Posted	12,304
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Re: Form 3520 Guidance

Re: Sale of Primary residence triggering AMT?

Re: form8938

Re: FOREIGN TAX CREDIT, FORM 1116, AND SCHEDULE 3

Re: Are the pretax employee paid health insurance premium contributi...

Do you have a TurboTax Online account?

Re: Form 3520 Guidance

Re: Sale of Primary residence triggering AMT?

Re: form8938

Re: FOREIGN TAX CREDIT, FORM 1116, AND SCHEDULE 3

Re: Are the pretax employee paid health insurance premium contributi...