User Submitted Tax Questions
Read Questions Asked by Users and the Answers Provided by CPAs.
View All Tax QuestionsCalifornia Tax Extension 2023 Clarification
I live in one of the counties considered "affected" by the storms. But I was not personally affected by them. Do I need to have been personally affected by these storms and prove this to qualify for the timing extension? Or do I just need to reside in one of the approved counties? If I do qualify - is the extension date of October 16th just for filing, or also for the payment? [we owe this year and I know a normal extension request does not apply to the actual payment owed] I have been told we just have to live in the county by Turbo Tax customer service [the website I use]. But H&R Block said we had to be personally affected. So I'm getting a third opinion! Thank you!
Asked onSaturday, March 11, 2023 by LindsayCPAs - Sign in to Answer
Rental property income.
I rented my mobile home out for 6 months or so last year. Do I consider that just like any other income?
Asked onSaturday, March 11, 2023 by RichardCPAs - Sign in to Answer
Step-up after step-up
My father owned stock. It was given me upon his death in 2013. I am familiar with step-up basis and how it works. At that time, the stock was stepped-up in basis. I have kept this stock in a different account, because the brokerage firm said it cannot be stepped up again when I pass away. According to them, a step-up can only occur once for a stock and my heirs will have already received the step-up benefit from the 2013 step-up. In 2022, I was told this is incorrect and when I die, it can be stepped up again. I tried searching online for clarification, but can find nothing that talks about stepping up a stock that has already been stepped up. So it appears that when I die, this stock can be stepped up again. Would someone be kind enough to clarify this?
Asked onSaturday, March 11, 2023 by TerriCPAs - Sign in to Answer
Part time job
I did my taxes and discovered I can make less than $15,000.00 a year while collecting SS. I am 73 years old and a widow, I made $17,000.00 last year. I thought I could make as much as I could after turning 70. I pay taxes from my job. Should I quit my job??
Asked onSaturday, March 11, 2023 by EmilyCPAs - Sign in to Answer
Tax amount due
Received W-2 and 1099 for settlement. Accommodations refused, pregnancy lost, emotional distress. Firm mentioned paying taxes for the portion they received directly but 1099 has 2nd half of mine plus lawyer's payment. Not sure how much is taxable for the amount received.
Asked onSaturday, March 11, 2023 by LaporshaCPAs - Sign in to Answer
1099 or W2 Employees
Currently in the beginning stages of a start up small business cleaning service. We are currently weighing the options of 1099 or W2 employees. If we went the route of W2 employees, are we bound to provide health insurance to each of the employees with a W2? Also, are we free to be selective on who can receive a 1099 or a W2?
Asked onSaturday, March 11, 2023 by MalikCPAs - Sign in to Answer
How do I upload my 1040c to e-file and where I
I filled out my 1040c form online but I want file it e-file upload it to where and how
Asked onFriday, March 10, 2023 by RobertCPAs - Sign in to Answer
Filing of Form 8582
I've been accumulating Passive Activity Losses for the last decade. For the first time this year, I rec'd a gain instead of a loss. I thought, no problem, I have the accumulated losses in my tax records. When I went back to look at previously filed returns, I cannot find any Form 8582 declaring the accumulated losses/carryover each year. Am I in trouble, or will the IRS computer system simply be able to check the loss I've put into the tax software (and thus the filing) each year?
Asked onFriday, March 10, 2023 by LesterCPAs - Sign in to Answer
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 onFriday, March 10, 2023 by PhilomenaCPAs - 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 onFriday, March 10, 2023 by AliceCPAs - Sign in to Answer