Taxes - March 2007

My inlaws filed their taxes wrong because they had some moron who didn't know what they were doing do them. They didn't put their dependent son on it and I was wondering although the incorrect forms were mailed is there any way to still change it or get the forms back so I can get them back?

2007-03-03 16:00:41 · 6 answers · asked by Cree 2 in United States

I was not an independent contractor and the employer sent me a W-2. If the answer is yes (the employer CAN do that), how do I remedy this with social security? i.e. how can I get social security and medicare credits for my earnings? Thanks.

2007-03-03 15:58:27 · 9 answers · asked by nanush 1 in United States

(California)
If i'm donating to charity like the Salvation Army...how much % of what I'm donating is tax deductable in California?

Any other benefits (tax-wise) for donating to charity?

2007-03-03 15:47:25 · 7 answers · asked by bpark73 1 in United States

2007-03-03 15:39:46 · 5 answers · asked by Ben M 1 in United States

If I sell off a portion of land from my rental property, and apply the profit of the sale to the rental property mortgage, will I be exempt from paying the capital gains tax?

2007-03-03 15:37:53 · 5 answers · asked by ? 5 in Canada

My in-laws are doing their taxes and want to know if they can claim their son. He is 31 and made absolutely no money last year and they provided complete support for him.

2007-03-03 15:37:47 · 4 answers · asked by Cree 2 in United States

I donated a vehicle to a friend of mine and I'm wondering how to I claim it on my taxes?? I'm useing turbotax.

2007-03-03 15:35:13 · 4 answers · asked by Benjo 2 in United States

Hello, my brother turned 18 in November 2006, can my parents claim him for income tax purposes?

FYI: For Ontario, Canada

2007-03-03 15:31:14 · 7 answers · asked by Sarah T 1 in Canada

I didn't think through the capital gains implications of diversifying the guys out of a stock. In selling the equity - on has a LT gain of over $6k. So what would be the best thing to do? Submit a separate tax return for him? What forms would be needed?

2007-03-03 15:06:37 · 5 answers · asked by HomeSweetSiliconValley 4 in United States

I have eight traditional IRAs. Some were deductible when I invested, but I never added to them when the law was changed to make IRAs only deductible under certain gross incomes. They have sat for years, earning interest. Other traditional IRAs I have were non-deductible so were intitially and subsequently bought with post tax dollars, unlike the early ones. Then there is a Roth that is also all after tax dollars. Finally a 401 that the mutual fund just took money out and sent to me saying, it is the law that they do that even if I deduct from other IRAs.

Those last people said that I should consider ALL the different IRAs as one.

My questions: I must start taking distributions because I finally have reached that age. Must I pay tax on all the IRAs that I paid for with before tax dollars? Principal and interest? What about the ones with after tax dollars? And the Roth?

How do I prove that I already paid taxes on some of my IRAs? They were bought a long time ago.

2007-03-03 14:40:37 · 2 answers · asked by Anonymous in United States

i have problem with my tax caluculate

2007-03-03 14:25:38 · 1 answers · asked by Mark 2 in United States

I spent a lot of money on application fees and visiting colleges for interviews. I was hoping to deduct that as an education expense. Does anyone know if this is legal? Thank you!

2007-03-03 13:51:48 · 3 answers · asked by kdivv 1 in United States

2007-03-03 13:44:24 · 2 answers · asked by tanya d 1 in India

If I buy some land can I pay my property taxes up for 10 or more years so that I don't have to worry about it for a long time?

2007-03-03 13:35:18 · 3 answers · asked by Anonymous in United States

Just before the end of the year, I bought a mutual fund with a substantial sales load. Can I deduct the cost of the sales load from my taxes as an investment expense?

2007-03-03 13:33:52 · 3 answers · asked by John T 6 in United States

2007-03-03 13:24:33 · 4 answers · asked by sweetsonofa 1 in United States

March of 2006 i lost everything in an apartment fire, i didnt have any insurance, Think i could right that off? If so, How? thx!

2007-03-03 13:20:09 · 5 answers · asked by misskitty127 1 in United States

2007-03-03 13:04:43 · 5 answers · asked by land1090 1 in United States

2007-03-03 12:58:17 · 8 answers · asked by LifeCurious 2 in United States

2007-03-03 12:56:51 · 5 answers · asked by ZIMBINI X 1 in United States

I receive a monthly car allowance that is taxed, and currently receive 14.5 cents for mileage. What, if anything, can I deduct on my tax return?

2007-03-03 12:43:06 · 5 answers · asked by Anonymous in Other - Taxes

I really want to do my taxes by myself, but I don't know exactly how this works..... My 2 siblings and I inherited a house after my father passed away 41/2 years ago. We had it appraised at the time of his death for $101,000. I put $15,000 into the property and put up new siding, built a redwood deck, put in new flooring, painted, ect.

We ended up selling it with a realtor for $137,000. The difference between the sale price and the value at the time of his death minus the realtor expenses is about $28,500 or $9500 each.

Can we deduct any of the money that we put into the house? Also, what are the requisite forms we will need to fill out to file taxes on the sale of the house?

Thanks for your help!

2007-03-03 12:28:12 · 3 answers · asked by Jace 4 in United States

I traded options in 2006. I.e., I bought and sold calls and puts without owning the underlying stock. My net for the year was a loss of about $1200. Can I report this loss on my 2006 tax return? If so, where?? Thanks.

2007-03-03 12:22:42 · 2 answers · asked by mgm00056 1 in United States

I deposited all of their checks they sent me into the business bank account and listed it on Schedule C of the tax forms. It was about 20% of our total revenue. Do I send the 1099 in with my 1040 and other schedules to the IRS? I don't want to confuse them. I don't file a separate return--just the schedule C. Please advise. Thanks.

2007-03-03 11:46:36 · 3 answers · asked by CALIFORNIA GOLD 3 in United States

2007-03-03 11:45:10 · 4 answers · asked by Anonymous in United States

Can I pay a commission employee $599 this year and not worry about sending him/her a 1099 tax form next January?

2007-03-03 11:43:31 · 3 answers · asked by CALIFORNIA GOLD 3 in United States

I e-filed both my federal and state tax returns using the web-based TurboTax tool. I electronically signed everything and it says I don't need to send my 1040-V payment form because I had it automatically deducted from my bank acocunt. Do I still need to send the W-2 copies marked "...to be filed with Employee's FEDERAL/STATE Tax Return" to the IRS by mail? I don't see this in the TurboTax instructions but I've always had them sent when someone has prepared my taxes for me in the past. Any help is appreciated...

2007-03-03 11:41:15 · 4 answers · asked by me 1 in United States

My brother and I purchased some investment real estate property (just land) and we are both named on the loan. How do we determine how much interest each can deduct? Do we just split it 50/50? Also, my SSN is the only one listed on the 1098.

2007-03-03 11:32:44 · 2 answers · asked by rooners 2 in United States

I wish to become a licensed personal fitness trainer. When I file my taxes next year can I use my education and equipment as a tax write off. Does anyone have any ideas on how I can do this?

2007-03-03 11:31:56 · 3 answers · asked by messnjah 2 in United States

for some reason i cant submit my taxes, due to the fact my name isnt matching my social security number in the irs masterfile.

2007-03-03 11:12:59 · 4 answers · asked by frank b 2 in United States