Unanswered Tax Questions
CPAs - answer tax questions, and introduce your practice to potential tax clients.
How does it work?
State tax
I filed my taxes. Federal went through state didn't. How do I file again without federal thinking I'm doing it twice. In Oklahoma you can't just file state.
Asked Friday, March 10, 2023 by Philomena M.Sign in to Answer
What can be included in QBI
I have been including CRP payments in QBI, is that still ok? Also I have 2 nephews who received a 1099 for farm labor instead of a W-2, can I count their income as QBI?
Asked Friday, March 10, 2023 by Alice H.Sign in to Answer
tax question
my mother put my name as part owner of a house a couple of years ago when she had her will drawn up. she sold the house in 2022 but i never received any of the money from the sale. do i declare that I "sold a property" on my 2023 income tax form
Asked Friday, March 10, 2023 by Rich F.Sign in to Answer
Restoring a Vintage Vehicle
I want to write off my repairs/improvements for my Bronco. Do I have to change ownership from my name to my llc's name? I will only be doing this once as my business is not restoring vehicles.
Asked Friday, March 10, 2023 by Adrian S.Sign in to Answer
Effect of IRA distribution on annual contribution limit
I contributed $3900 to Roth IRA in 2022, then I made the withdrawal of the entire amount, also in 2022. I want to contribute to Traditional IRA instead. Does my $3900 Roth contribution still counts toward annual contribution limit for 2022?
Asked Friday, March 10, 2023 by Olga A.Sign in to Answer
Extra business money
I had recently received compensation for a totaled car and decided to put some 4000$ into my llc account, do I have to pay taxes for this even though it's not generally thought of as work related income?
Asked Friday, March 10, 2023 by Matthew P.Sign in to Answer
Crypto
I have a business where I purchase items from people and sell them on Amazon. Amazon gives a 1099k form at the end of the year. When I buy items, I pay people via ACH transfer or a third party platform like CashAp. Many people are interested in crypto payments. Would I be able to pay people with crypto and put the transactions on my taxes as a write off? I know I can use receipts for ACH and CashApp to put on it to lower the profits, for example I pay someone $100 for an item and sell the item for $200, and put the receipt on my taxes so I only made $100 instead of $200, could I do it with crypto? Thanks.
Asked Friday, March 10, 2023 by Eyal P.Sign in to Answer
Married/separate… claiming deductions
A spouse and I are separated. If I file married/separate and claim the standard deduction, can my spouse file head of household or an itemize her deductions?
Asked Friday, March 10, 2023 by Michelle E.Sign in to Answer
Taxes
I am a new online boutique. I am a sole proprietor, in Indiana. I am wondering how often I need to file if its annual or quarterly and what forms are needed. I started my online boutique in February 2023
Asked Friday, March 10, 2023 by Hannah W.Sign in to Answer
Filing status for restraining order
I am married but separated due to abuse and restraining orde, can I file head of household when filing jy 2022 taxes?
Asked Thursday, March 09, 2023 by Josephine C.Sign in to Answer