New answers tagged income-tax
1
vote
Can a loss be used to offset taxes on profits that are much larger? A question about a passage in "The Intelligent Investor"
There's nothing magical going on here. He's talking about a $264 million tax write-off, in the context of per-share earnings: $35 per share, more than twice the current market price. That's remarkable,...
- 5,522
0
votes
are my ss benefits taxable income if my spouse continues working?
You are going to pay some tax based on the chart everyone has commented on if you file a joint return. So, do a test. What would happen if you two filed separate returns. You can file separate ...
4
votes
Deliquent town taxes
You can deduct state and local real estate taxes (but not penalties or interest) in the year they were paid if they meet certain criteria:
Must be levied annually (even if paid more frequently)
Must ...
- 142k
5
votes
Does an RSU vesting event with shares that were sold at vesting always generate a 1099-B document?
Is it the case that every RSU vesting event with any number of shares that get sold must now generate a 1099-B by the brokerage
Yes.
I don't know why one employer in 2018 didn't produce that for you, ...
- 184k
2
votes
Interest _received_ in renting real estate
I understand what you want to do. You have interest that you associate with the rental property. You want to do what is right.
If the interest was so small it didn't trigger a 1099. I would just ...
- 145k
-2
votes
What is my cost basis for a stock I received when my insurance policy was demutualized?
The IRS has specific rules for determining the cost basis for stock received in connection with the demutualization of an insurance company. Generally, the cost basis of the stock is equal to the fair ...
8
votes
Accepted
Interest _received_ in renting real estate
Just because you choose to put it in a separate bank account does not mean it has different tax treatment from any of your other accounts. It is still your account and interest received there is still ...
- 17.5k
1
vote
Does Canada respect the tax-free status of National Savings certificates for residents who left the UK?
In general, double taxation treaties work like this:
You pay tax overseas on the income.
You then declare the income locally and the tax that you have already paid.
Your local tax entity then ...
- 141
5
votes
How to legally sell a house without owing income taxes?
I have heard that if I sell my house one year, and don't use the money
earned to buy another house, I'd be taxed on the earnings as if it
were income.
When the law changed in 1997, the roll-over rule ...
- 145k
16
votes
How to legally sell a house without owing income taxes?
In the US, once you realize gains it is taxable. So no, there's no way in general.
However, for real estate there are a couple of special rules, one relevant in particular is the primary residence ...
- 184k
Top 50 recent answers are included