Best Of
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Re: How can I make Schedule E to be non-passive income?
You're right, Phaser. Short-term rentals are getting to be more and more common, and the IRS has provided better guidance on how this type of income should be reported. If the property was rented for…5 -
Re: Filling Jointly with Nonresident spouse
If you are a U.S. citizen who filed jointly with a nonresident spouse using FreeTaxUSA but did not include the required election to treat your spouse as a U.S. resident for tax purposes under IRC §60…5 -
Re: Do I need to report the items I received to IRS and NJ. & where may it be reported?
There is no deduction for gifts you gave to another person. You may be required to file a gift tax return if the gifts exceed the threshold. If these were loans and your family member repaid you, the…5 -
Re: Head of Household
I found a post that may answer your question: "Generally, to file head of household status, you must be able to claim a qualifying child or qualifying relative as a dependent. If you are able to…5 -
Re: Cost Basis Inherited Property that is now a Rental
Hi ConfusedwithTaxes, this is an interesting question. This one recommendation to consider. If the depreciation difference is small and you’re not selling the property soon, you can keep using the $1…5 -
Re: Graduate Fellowship Appearing As Unearned Income
From what I see here, your fellowship money shouldn't be taxed, but it looks like if you spend the money on certain things you might be?5 -
Re: I sold a car in 2024, would I report this on my tax returns for IRS and the State of NJ
Unless the car was used in business or you made a profit on the sale (your proceeds exceed your cost or other basis), this is not something that affects your tax liability and does not need to be rep…5 -
Re: schedule k-1 PTP
It looks like someone else asked something similar, if you do need to include it I'm not sure it's supported5 -
Re: How are line 52 and 53 in Form 5329 generated
I also ran into this problem. I contacted support and they responded to me. They told me that this is a known problem that they are working on, but it won't be fixed this year.5 -
Re: HSA and California
California doesn't recognize HSAs. Can you just put zeroes in the boxes? (5 cents rounds to zero.)7
