Taxes - April 2007

Or do I have to pay the whole lump sum, which I do not have? Please help me.

2007-04-10 15:40:06 · 7 answers · asked by maisher81 1 in United States

State of California

2007-04-10 15:35:42 · 7 answers · asked by Glen R 3 in United States

I believe the IRS allows a withdrawy of up to $10,000 from a retirement account ( IRA, 401k, etc ) towards the down payment of a home with no penalty and the withdrawal would not be included as taxable income? Is this correct?

2007-04-10 15:06:28 · 6 answers · asked by Jason 1 in United States

Im just double checking with claiming tuition. If my parents have claimed me then I can not deduct my tuition? Even if i paid for it 100% myself?

Also would there be any other deduction's I could claim as a dependent and community college student?

I live in MA

2007-04-10 14:55:56 · 2 answers · asked by TGBoston 3 in United States

i've been contacted by the IRS that i need to file for 2003 and 2004. The problem is, after doing them, i found out we owe in $1700 for 2003 and are owed $3600 for 2004. How much are the penalties and fines for not paying in for 2003?

2007-04-10 14:50:18 · 7 answers · asked by Kris L 1 in United States

My friend ask me to calculate my mileage from my house to hers, so she can reimburse me. I dont know how to calculate it, so she can pay me back. How can I calculate mileage in to the money?

2007-04-10 14:33:50 · 5 answers · asked by Anonymous in United Kingdom

It has it down on my paycheck stub as a deduction, but what is it for?

And what does it stand for?

2007-04-10 14:02:44 · 2 answers · asked by Anonymous in United States

Do I need to enter the trades per stock, or as one lump sum? Why is there no good tutorials on how to enter this online?

2007-04-10 14:01:30 · 2 answers · asked by nobosh.com 2 in United States

I earned $31,919 and I plan on taking the standard deduction of $5150. If I subtract the deduction from the income, won't that bump me into a lower tax bracket? Is that how it works? Thanks!!!

PS: On the W2 form, box #1 (wages, tips, other comp) is the yearly taxable income (before deductions) right?

2007-04-10 13:53:09 · 6 answers · asked by Mrmojo6068 3 in United States

My husband just started a new job where they will not be taking taxes out of his check I was wondering if anybody had advice on the best way to calculated how much we should hold out each week or even if this is the best way to do it also any websites will help.
Thank You

2007-04-10 13:41:09 · 7 answers · asked by superwomen 3 in United States

State has garnished my Social Security @ 50% for back child support

2007-04-10 13:40:22 · 7 answers · asked by Raymond M 1 in United States

2007-04-10 13:25:59 · 1 answers · asked by Jimmy d 1 in United States

I haven't worked for the entire year due to a medical condition. I have lived with my boyfriend for 5 years, and this year he has been my sole means of support. Also, I've been paying off back taxes and have a small balance still due...in the event he can claim me, would he then become responsible for my taxes?

2007-04-10 13:06:55 · 6 answers · asked by justwingit 2 in United States

I am a CA resident, but I went to school in HI almost the whole last year and had my only incomes from HI. Do I file tax return for both states or just HI? Please let me know, thanks

2007-04-10 12:54:31 · 4 answers · asked by TONY 1 in United States

I am the trustee....the money is invested in a bank CD. They have sent me (actually under the trust ID) only a 1099 INT form. I assume that the trust is responsible for the tax on the investment rather that the party that untimately gets the interest.

2007-04-10 12:53:38 · 3 answers · asked by domers13 2 in United States

2007-04-10 12:47:32 · 4 answers · asked by neenie217 2 in Other - Taxes

1. There is a gain in selling stock option sold
2. There is a loss in regular capital gain in Schedule D.

Can the gain in 1 offset by the loss in 2 so that less tax can be paid?

2007-04-10 12:41:02 · 4 answers · asked by Anonymous in United States

2007-04-10 12:36:04 · 2 answers · asked by Mike F 1 in United States

2007-04-10 12:33:46 · 7 answers · asked by sumthinlikea 2 in United States

I am selling my home to a friend, the FMV is $420,000.00, I am selling it to him as his for $310,000.00, My lawyer said I would have to pay a gift tax because I am giving him a gift of equity, The Gift tax would be based on $108,000.00, how would I know how much the gift tax would be that I would have to pay, I need to know this before I go any further with this sale,

2007-04-10 12:10:47 · 4 answers · asked by bare0713 1 in United States

2007-04-10 12:08:37 · 7 answers · asked by souellette4 1 in Other - Taxes

I was outside the country last year and took around $15K out of my IRA account. I assume that as my taxable income for last year is less than 15K there will be No tax. Is my assumption correct?

2007-04-10 12:01:58 · 4 answers · asked by vramank 1 in United States

Just wondering?

2007-04-10 11:47:41 · 12 answers · asked by Anonymous in United States

2007-04-10 11:42:39 · 7 answers · asked by Birdie 1 in United States

Maybe someone knows how to report these two different types of income. Some of it has already been taxed, some of it I still need to pay taxes on, but have business expenses that need to show as deductions.

2007-04-10 11:37:36 · 4 answers · asked by R P 1 in United States

I misplaced the U. S. Government report telling me the amount
of Social Security payments I received in 2006. Is there any
way that I can access that information via the internet?

2007-04-10 11:31:32 · 6 answers · asked by Anonymous in United States

2007-04-10 11:31:21 · 6 answers · asked by R P 1 in United States

My mom died in December. She was 75, had social security and pension income. I've figured out the 1040 so far...it looks like she (we) would owe $91 to federal taxes. Do we need to file taxes for a deceased taxpayer? And from where would the $91 come from? And if we didn't file...anyone think the IRS would figure it out...and who would or could they come after?

2007-04-10 11:27:54 · 8 answers · asked by alirealtor 2 in United States

2007-04-10 11:18:59 · 8 answers · asked by jewel c 1 in United States

I looked on IRS.GOV, but can't find it anywhere.

Thanks

2007-04-10 11:17:23 · 2 answers · asked by Anonymous in United States