Best Of
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Re: short-term van rental
Hello, Yes, but it would be only partially deductible according to the business (or rental) mileage divided by total mileage you drove in the van. In this situation, the simplest and most conservativ…1 · -
Re: when is estimate tax due
Good point. Some tax planning can go miles and save you some future problems. Reaching that 90% threshold of tax due is important. Here are two community articles on Estimated Taxes and the Underpaym…1 · -
Re: How can one combine/aggregate multiple rental properties into one real estate enterprise?
Hi, Thank you for the additional information. Although we do support Section 199a for the rental real estate Qualified Business Income Deduction, we do not support combining real estate properties fo…1 · -
Re: Wash Sale
Hi Jeremy, Generally the IRS is relying on the information the broker provides in the 1099-B. So if your broker is not flagging and reporting a Wash sale, the IRS will not have any information to act…1 · -
Re: VA Disability
The requirement to file a tax return will depend on the income that you received during the year. The IRS has a really great tool that will help you determine if you are required to file a return. He…1 · -
Re: Trust K1 and lump sum retirement benefit
Thank you for your generous, thorough answer.1 · -
Re: Using Head of Household
Yes, it looks like you understand each of the tests. You can also follow the links to the IRS site where they further explain each of the tests if you would like. Our software will ask you various qu…1 · -
Re: Estimated tax
Hi Himself8! That's a great question. I'm sorry hear that you ran into some issues while filing your 2023 return. The IRS states: 'Taxes are pay-as-you-go. This means that you need to pay most of you…1 · -
Re: Ebay selling
Hello, When you inherit an item, its basis (or cost) is the value at the time your parents passed away. So this can be really tough. About the best you can do is provide an estimated basis and keep a…1 · -
Re: Selling personal used item on eBay occasionally?
If a car, furniture, jewelry, collectible, or other asset is used for personal use and wasn't used in a business, a rental property, or as an investment, then you normally don't report the sale on yo…1 ·
