Taxes - January 2007

Is it anywhere said that you can not switch from calculating gains/losses using Realized gains/losses and then switching to Unrealized gains WITHOUT re-computing the basis?

Textbooks, IRS code, FASB, anything? A specific source would be very helpful.

Thanks

2007-01-15 10:01:07 · 3 answers · asked by malikrajarex 1 in United States

for the last 2 years we havent been able to claim my son on your taxes due to the fact that i was a saty at home mom and had no income and my husban(then fiance) wasnt his biological father . we was told that inorder for him to claim my son we had to get married or he had to adopt him. we have since got married in Dec and i was wondering if we would be able to claim him this year or if we waited to late in the year? also i was told you get a one time taxe exemption for the year you get married does anyone know about this?

2007-01-15 09:56:50 · 10 answers · asked by beth d 1 in United States

My husband has a few school loans that they have been taking his tax refund the last few years for. This past year we got married so now we'll be filing jointly. Can they still take the refund with both being on the refund? Or should we file married seperately so they can't take mine?

2007-01-15 09:42:43 · 8 answers · asked by Anonymous in United States

2007-01-15 09:35:37 · 7 answers · asked by Anonymous in United States

If a child to be claimed was born 10/06, is a Social Security Number necessary to file taxes with the child as a dependent?

2007-01-15 08:59:52 · 7 answers · asked by Judy P 1 in United States

Third party means someone other than IRS or a well known tax prep site, like H&R Block. Sometimes there's a savings from using a third party tax prep and efile.

2007-01-15 08:57:56 · 2 answers · asked by terryleecheeseman48 1 in United States

2007-01-15 08:49:57 · 4 answers · asked by Anonymous in United States

ready to file my taxes will I still be eligible to use him as a deduction even though he will have to file ?

2007-01-15 08:42:01 · 8 answers · asked by Michael H 1 in Other - Taxes

I calculated my expected self employment income for 2006 in January of 2006 and paid $1500 in tax for each of the first 3 quarters; then I went on disability (had a baby) and had hardly any income for the fourth quarter (which I didnt plan on when I had initially calculated my tax installment payment last January). I have calculated that I have already paid (in my first 3 installments) more than I will owe in taxes for the year. Do I need to pay self-employment tax on my fourth quarter earnings? If I dont will I be charged interest/penalties even though I have overpaid already?

2007-01-15 08:39:15 · 3 answers · asked by sam & jack 2 in United States

Is it leagal to tax u.s. citizens by the federal government in the U.S.A.

2007-01-15 08:30:15 · 7 answers · asked by jose r 7 in United States

2007-01-15 08:29:31 · 4 answers · asked by juanellel 1 in United States

I have a mortg and have always claimed single head of household with 3(me, 2 under 18) exemptions and took standard deduction of $7950. Now 1exmpt turned 18 May 2006, graduated in June and is a freshman in college. She only made 2000.00 this year. Can she file with no exmpts and I still claim her and deduct the expenses of her computer etc.. on my taxes this year and itemize? Need help.

2007-01-15 08:13:21 · 5 answers · asked by Rose 2 in United States

2007-01-15 08:13:14 · 5 answers · asked by Stacey C 1 in United States

I've had the same job and a dollar raise each year. 2004=$1100
2005=$700 2006=$380

2007-01-15 08:02:26 · 4 answers · asked by alesis 1 in United States

The instructions on various tax forms seem to only be intelligible to accountants! Is there a reason why they just can't put everything into layman's terms?

2007-01-15 07:54:50 · 5 answers · asked by Amanda 1 in United States

I DRIVE FOR WORK TO SALES APPTS I WAS TOLD I CAN GET UP TP 30 CENTS A MILE. IF THIS IS TRUE HOW DO I GO ABOUT DOING SO.

2007-01-15 07:50:56 · 11 answers · asked by mmc418 1 in United States

2007-01-15 07:21:12 · 3 answers · asked by navet53 2 in United States

My dauther is 17 yrs old . she will be 18 this year in june. She has been working since september of 06. Can she do her own taxes and claim her brother and sister on it. she pretty much dose evrything on her own . So i was wondering. O Yes we live in IL.

Thank you in advance.

2007-01-15 07:19:14 · 9 answers · asked by mary_llinas 2 in United States

I was wondering if each county in the United States has a website to help a new homeowner figure out how much they are being assessed on their home for the past year 2006. Does anybody know the answer to this? Thanks for your help!!!

2007-01-15 07:17:04 · 4 answers · asked by PsychoSam 2 in United States

Selling price was $205,000 on a traditional 100% 30 year fixed. re-fi two weeks later on a 80/20 30 year fixed due to loan to value to avoid PMI. House just appraised for $330,000. Reason for wanting to sell: we would like to move closer to our jobs. But we would hate to give Uncle Sam free money.

2007-01-15 07:16:37 · 3 answers · asked by josh h 2 in United States

2007-01-15 06:43:47 · 6 answers · asked by Diamond88 1 in United States

I am self-employed. I made $13,138.39 last year. How much should I have paid to the government for federal income tax, social security tax and medicare tax? I am married with a child and have deductions and credits, but I am curious about how much I owe before this is taken into consideration.

Thanks!
Kari

2007-01-15 06:41:56 · 5 answers · asked by Kari 2 in United States

will they allow you to still get your refund?

2007-01-15 06:28:15 · 8 answers · asked by tlnay025 3 in United States

By taking the following credits:

Credit for Child Care Expense
Child Tax Credit
Earned Income Credit
Additional Child Tax Credit

while claiming Head of Household, I am calculating a refund greater then what was taken out of my paycheck last year. Is this possible??? Everything mentioned above are valid credits that I am entitled to.

2007-01-15 06:07:12 · 13 answers · asked by xMonkeyx 1 in United States

When filling taxes what is the difference in filling head of household and filling married/jointly? I haven't worked all year so I won't have any W2's. So which one should I file? Is there a difference?

2007-01-15 05:52:43 · 4 answers · asked by cupcake_11152000 1 in United States

2007-01-15 05:23:51 · 3 answers · asked by grady c 1 in United States

Am selling house I live in which I half own with my mother although she lives in her own house. Have been told liable to pay about £18,000 apx CGT, as she bought it with my father 13 years ago - I then rented until 6 years ago when he died and half share of house transferred to me. Does anyone know anyway of reducing this tax please?

2007-01-15 05:21:12 · 3 answers · asked by boo 1 in United Kingdom

My boyfriend and I live together and he has been out of work for a while. I pay 100% of all our expenses, including his child support payments. We are of course unmarried. Is there any way that I can claim him as a dependent on my tax return?

2007-01-15 05:18:25 · 15 answers · asked by jussagirl 3 in United States

where do i find out what my refund is?

2007-01-15 05:12:25 · 23 answers · asked by grady c 1 in United States

2007-01-15 05:11:56 · 1 answers · asked by Randy M 1 in United States