ALL

We owned rental property for many years until October 2014, when it was sold.

It was occupied a couple months, but the tenant failed to pay any rent in 2014 before she left.

Do we still file Schedule E, showing expenses for 2014, or just lump all expenses into selling expenses when we report the sale on Schedule D.

Also, do we depreciate it for 2014 since there wasn't any rental income?

thanks

Our family had a small ($5000) life insurance policy for 50 years that we stopped paying premiums for many years ago. All we knew was that we were paying tax on each years income that we never received.

Finally, we decided to cancel the policy and get a couple hundred dollars. Now we received a 1099 for over $2000 in the Taxable amount box (2a) and box 2b is marked that taxable amount is total distribution.

In hindsight, I think we are being taxed for a loan against the policy that was automatically paid off, and that we owe the tax. (or this there any adjustment I am not aware of?)

I just want to confirm with those more knowledgeable about insurance and taxes before we complete our tax return.

thanks

I was following a very thinly traded stock, (usually trades just a couple hundred shares a day), and usually it just sits there, with a couple changes a day in the bid or ask. A few days ago, I was watching streaming quotes and about every second the bid price would rise a penny. After about 50 cents, it would drop back down, then do it again. During this time, there weren't any actual trades.

Is this some type of electronic or computer trading? I can't imagine a large company doing this because the stock is too small to matter.

If there isn't any contract between employer and employee, why can't the employer just say "here is what I'm going to pay" and if the employee doesn't like it, they can go elsewhere. I've seen companies in trouble cut salaries and benefits, so what is the legal reason for a lockout as apposed to just cutting?

I want to add air conditioning coolant to my 2003 Ford Focus. I found out the re-charge port is located in a hard to see place near the front right wheel. I can see the port and the plastic cap is missing.

Is the cap needed, or is it just cosmetic (like a tire valve cap)?

Sorry, if I sound ignorant. I know very little about cars.

thanks

If someone passes away and has all their assets are TOD accounts, then as I understand it, the beneficiary can take the account almost immediately. What happens if there isn't anything left in the estate to pay taxes and costs? Does the executor contact the beneficiary and make arrangements to get funds back?

Does this sometimes cause serious problems?

About 14 years ago someone in family created a 15 year Qualified Personal Residence Trust (QPRT).

While researching what to do, I read that a Gift tax return should have been filed, but the Grantor has no recollection of doing so.

I think we will need the information in the future.

Can we find out from the IRS if a gift tax return was filed, and if so, will asking for it create a red flag?

thanks

We didn't make enough money in 2010, so we end up wasting a foreign tax credit.

Is there a way to shift income into 2010 from future years. I think we are too late for the Roth to Traditional IRA transfer. Is there anything else we can do?

thanks

I'm helping someone with her taxes who has been tutoring for 50 years. In the past, she's earned a few thousand and filed schedule C. In 2010 she only earned about $200. I see that schedule SE (self employment tax) isn't required for under $400 of income, but I don't see anything in the IRS instructions about minimum requirements for schedule C.

Are we required to file this schedule?

I'm sure many people in this situation don't file, but we want to be honest.

Thanks for any advice.

Going to the game from the D.C. area. Planning to get there about 2 hours before it starts. Is that enough time? Will interstate 95 be ok, or crazy. I'd also appreciate advice for parking. Should I stick with the stadium lot, or is there a better alternative?

Thanks

Prefer Columbia, Annapolis or PG County areas. Looking for friendly casual buffet style with vegetarian options. Hopefully a not too crowded place to take mom.