Ask a CPA

Generally, depreciable Real Property sold at a gain is considered either Section 1231 if depreciated post 1987or Section 1250 property if depreciated pre 1987 and reported on Form 4797
Bonus depreciation taken in years 2008 through the present year must be picked up as ordinary income
Gain attributable to depreciation pre 1987 is subject to recapture as ordinary income unless straight line method was used..
Gain on the disposition of Section 1250 property is treated as ordinary income to the extent of additional depreciation allowed or allowable on the property.
Depreciable Residential Rental Property sold at a loss is considered Section 1250 property reported on Form 4797 Part 1 if long term, and 4797 part 2 if short term.

Yes, having an HSA in no way restricts your ability to have an IRA.

No, it can only be rolled over into another qualified HSA without incurring tax consequences.

Your HSA will be treated as your surviving spouse’s HSA, but only if your spouse is the named beneficiary. If there is no surviving spouse or your spouse is not the beneficiary, then the savings account will cease to be an HSA and will be included in the federal gross income of your estate or named beneficiary.

Individuals aged 55 and over may contribute an additional $1,000 above the maximum for each tax year.

Medical Savings Accounts (MSAs) are available to employees of small businesses and self-employed individuals if they participate in high-deductible health plans. The deductible limits and out-of-pocket limits in connection with these plans differ from those for HSAs.
For tax years beginning in 2012, the annual deductible for an MSA high-deductible health plan may not be less than $2,100 and not more than $3,150 for single coverage, and not less than $4,200 and not more than $6,300 for family coverage. Also, annual out-of-pocket expenses (exclusive of premiums) cannot exceed $4,200 for single coverage and $7,650 for family coverage.

You must be:1) Covered by qualified high deductible health insurance plan;2) Not covered under other health insurance;3) Not enrolled in Medicare; and 4) Not another person's dependent.
Other health insurance does not include coverage for the following: accidents, dental care, disability, long-term care, and vision care. Workers’ compensation, specified disease, and fixed indemnity coverage is permitted.

This tax penalty does not apply if the withdrawal is made after the date and you attain age 65 or become totally and permanently disabled or die.

Earned Income and adjusted gross income (AGI) must each be less than: $46,227 ($51,567 married filing jointly) with three or more qualifying children $43,038 ($48,378 married filing jointly) with two qualifying children $37,870 ($43,210 married filing jointly) with one qualifying child $14,340 ($19,680 married filing jointly) with no qualifying children
Tax Year 2013 maximum credit:
$6,044 with three or more qualifying children $5,372 with two qualifying children $3,250 with one qualifying child $487 with no qualifying children
Investment income must be $3,300 or less for the year.

A $2,000 credit is available for qualified expenses paid for post-secondary degree programs or for a non-degree program to acquire or improve job skills.
It is not limited to the first 4 years of postsecondary education.
Qualified expenses include tuition, course related books, activity fees and any equipment that must be purchased from the educational institution as a condition of enrollment. Room & Board expenses do not qualify.
The modified adjusted gross income threshold at which the lifetime learning credit begins to phase out is $111,000 to $131,000 for joint filers, and $55,000 to $65,000 for singles