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nothlit t1_j6oewxx wrote
Reply to comment by Various-Category4642 in Issues with my eBay 1099 form by Various-Category4642
items sold at a loss, combine them together and report as indicated [here](https://www.irs.gov/businesses/understanding-your-form-1099-k) under "personal items sold at a loss." For the items sold at a profit, report them on [Schedule ... www.irs.gov/instructions/i1040sd). Schedule C (Profit or Loss from Business) is not needed since these were personal use items
tmoney144 t1_j6ondib wrote
Reply to comment by NotQuiteGoodEnougher in Optima says my dad owes $40k in back taxes?! by [deleted]
Nope. See 26 U.S. Code § 6159 and IRM 5.1.19.3.5(6) https://www.irs.gov/irm/part5/irm_05-001-019#idm139995971385904 "The CSED is not suspended while an installment agreement is in effect." Also IRM 5.14.2.2 https://www.irs.gov/irm/part5/irm_05-014-002r#idm139895071258224 "All taxpayers are expected
Liquidretro t1_j6of1nm wrote
view. You might see what your state has in terms of privacy or DOL requirements. [https://www.irs.gov/instructions/iw2w3#en\_US\_2023\_publink1000308267](https://www.irs.gov/instructions/iw2w3#en_US_2023_publink1000308267) While not a good practice I doubt much is going
Advanced_Car1599 t1_jddo5hh wrote
Reply to James River Church by EndPedos0900
doesn't endorse a specific political campaign. You can read about it here: [https://www.irs.gov/newsroom/charities-churches-and-politics#:\~:text=Currently%2C%20the%20law%20prohibits%20political,to](https://www.irs.gov/newsroom/charities-churches-and-politics#:~:text=Currently%2C%20the%20law%20prohibits%20political,to))%20any%20candidate%20for%20public The only way would be to suggest
DeluxeXL t1_ja8mpfs wrote
Reply to comment by Kat45364 in Federal with holding 1/2 of what it was last year by Kat45364
Then you should have gone through the [W-4](https://www.irs.gov/pub/irs-pdf/fw4.pdf) carefully. >**Step 2: Multiple Jobs or Spouse Works** Depending on how different the two jobs pay, it can be as simple ... checking that box, using the worksheet, or going through [IRS withholding calculator](https://www.irs.gov/individuals/tax-withholding-estimator).
DeluxeXL t1_jaedtpr wrote
help. [W-2 - Additional, Incorrect, Lost, Non-Receipt, Omitted ](https://www.irs.gov/faqs/irs-procedures/w-2-additional-incorrect-lost-non-receipt-omitted/w-2-additional-incorrect-lost-non-receipt-omitted) [Form W-2 and Form 1099-R (What to Do if Incorrect or Not Received)](https://www.irs.gov/taxtopics/tc154)
__Robocop t1_j53xq4h wrote
Reply to LPT: update your W9 withholdings so that you *owe* a little on your tax return instead of aiming to get a refund. by atynre
doesn't include withholding... https://www.irs.gov/pub/irs-pdf/fw9.pdf Maybe you're thinking of a W4? https://www.irs.gov/pub/irs-pdf/fw4.pdf
nothlit t1_j6o770h wrote
Reply to comment by Levertki1 in Claiming refund for 401(k) withdrawal penalty by Mega_Fry
This? https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-hardship-distributions That just means you're allowed to take the withdrawal for that reason. It doesn't mean it's exempt from the 10% penalty. > Hardship distributions are subject to income ... Roth contributions). They may also be subject to a 10% additional tax on [early distributions](https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-tax-on-early-distributions).
DeluxeXL t1_j2eqmuz wrote
cannot deduct the traditional IRA contribution due to [your income and having a 401k](https://www.irs.gov/retirement-plans/ira-deduction-limits), you should then consider the following two things: 1. Can you make Roth IRA contributions directly? [Read about ... income limit](https://www.irs.gov/retirement-plans/roth-iras). If yes, recharacterize the 2022 traditional IRA contribution as Roth IRA contributions. 2. If #1 is a "no", then read about [Backdoor Roth](https://www.whitecoatinvestor.com/backdoor-roth-ira-tutorial/)
myze551ml t1_iuiee39 wrote
Reply to Will I have to pay capital gains tax? by SprayBubbly2506
work related move b) a health related move c) Other unforeseeable factors. https://www.irs.gov/publications/p523#en_US_2021_publink100073096 See the link above for more details on these criteria for partial exclusion
adescuentechable t1_ixwnpvv wrote
Reply to comment by [deleted] in Washington Right-wing pastor celebrates Club Q massacre as 'good thing' in hate-filled sermon by audiomuse1
directly supporting or opposing a specific political candidate, they can pretty much do whatever they want. https://www.irs.gov/newsroom/charities-churches-and-politics
shadracko t1_iy4kedu wrote
were recently married in October. https://www.irs.gov/pub/irs-news/at-04-75.pdf >Your marital status on December 31 determines whether you are considered married for that year. Married persons may file their federal income tax return either jointly
rnelsonee t1_iy6dl3a wrote
There's actually a few options](https://www.irs.gov/retirement-plans/retirement-plans-for-self-employed-people), two of which have "Simple"/"Simplified" in the name, so it's really not that bad. The IRS isn't much one for pros and cons
JethroTrollol t1_ixwjmg9 wrote
Reply to Washington Right-wing pastor celebrates Club Q massacre as 'good thing' in hate-filled sermon by audiomuse1
www.irs.gov/charities-non-profits/irs-complaint-process-tax-exempt-organizations#:~:text=You%20may%20use%20Form%2013909,eoclass%40irs.gov%2C%20or I use this form when churches take political stances, but this is worth reporting to irs anyway
FatherofZeus t1_iudlauv wrote
Reply to comment by Affectionate-Bit-240 in Democratic Rep. Jahana Hayes, Republican challenger tied in heavily blue Connecticut: poll by jr_reddit
taxable. There is no minimum amount that a taxpayer may exclude from gross income https://www.irs.gov/pub/irs-news/fs-07-26.pdf
DaemonTargaryen2024 t1_iu560nb wrote
Reply to HEC thresholds/401K contributions by inima23
www.irs.gov/retirement-plans/identifying-highly-compensated-employees-in-an-initial-or-short-plan-year](https://www.irs.gov/retirement-plans/identifying-highly-compensated-employees-in-an-initial-or-short-plan-year) [https://www.investopedia.com/terms/h/highly-compensated-employee.asp](https://www.investopedia.com/terms/h/highly-compensated-employee.asp) You may not be able to do much about it, but increased participation from all employees is a major factor. Part of the reason you see employer match and auto
WinoWithAKnife t1_ixeuspa wrote
always whenever taxes come up, shout out to [VITA/TCE](https://www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers) for providing free tax preparation for low-to-middle-income earners and seniors. If you're looking for something
DocCEN007 t1_j1vu2rl wrote
Reply to comment by justlikeofficespace in [OC] Annual Finances of a Millennial Saving Up for a House (made with SankeyMATIC) by justlikeofficespace
Most employers allow this change every December -Januart. The IRS provides a free calculator at https://www.irs.gov/individuals/irs-withholding-calculator
SharpShooter2-8 t1_j0gzh2z wrote
Reply to comment by farrowsharrows in Landscaping company surprises employees with bonuses up to $200K by ChickenXing
Federal Taxes, See section 7. https://www.irs.gov/pub/irs-pdf/p15.pdf
dclxvi616 t1_j206m0s wrote
www.irs.gov/individuals/get-transcript An official IRS transcript of your return would probably go a long way if not be sufficient. If you didn't file a return (presumably because you weren't required to) this process
DeluxeXL t1_j25rpwy wrote
Reply to How should I deduct cost of goods sold for gifted household items for eBay taxes? by beckagrosst
Generally, you "inherit" the cost basis from the gift donor. [Read this caveat](https://www.irs.gov/faqs/capital-gains-losses-and-sale-of-home/property-basis-sale-of-home-etc/property-basis-sale-of-home-etc). > 1. My brother buys me a laptop in 2018 for $1,000 using HIS credit card
freddie_the_mercury t1_j25udgn wrote
Reply to comment by beckagrosst in How should I deduct cost of goods sold for gifted household items for eBay taxes? by beckagrosst
here you go: [https://www.irs.gov/faqs/capital-gains-losses-and-sale-of-home/property-basis-sale-of-home-etc/property-basis-sale-of-home-etc](https://www.irs.gov/faqs/capital-gains-losses-and-sale-of-home/property-basis-sale-of-home-etc/property-basis-sale-of-home-etc) I believe the cost basis explanation applies for more than real property. It is referenced in a turbotax questions here regarding your exact scenario: https://ttlc.intuit.com/community/taxes/discussion/how-to-handle-sales-of-personal-and-gifted-items-on-ebay/00/2692991
Jmb3930 t1_j2631kd wrote
Reply to comment by [deleted] in Owe taxes this year? by [deleted]
Some time in Jan they will up date the IRS withholding calculator https://www.irs.gov/individuals/tax-withholding-estimator It will tell you how to up date your
shafe123 t1_j265lfq wrote
Reply to Owe taxes this year? by [deleted]
Would strongly look into setting up a payment plan with the IRS. https://www.irs.gov/payments/payment-plans-installment-agreements
ChiSquare1963 t1_j298s4j wrote
Reply to Which country to pay tax to? by sai_gamer
rules for nonresident aliens in USA](https://www.irs.gov/businesses/taxation-of-nonresident-aliens-1) That page also has links to information for resident aliens
BouncyEgg t1_j2a2o6s wrote
Reply to Do my parents "need" to do their taxes? by Zerole00
enough to not meet reporting criteria. You can go through this tool on the IRS website: * https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return Generally, it's advised to file even if you do not have a filing requirement. This
NoFilterNoLimits t1_j2adlz6 wrote
Reply to Should I be claimed as a dependent or not? by [deleted]
actually not up to you. The IRS has rules that decide https://www.irs.gov/help/ita/whom-may-i-claim-as-a-dependent I’d suggest filling out their worksheet
Guysmarket OP t1_j2ajkur wrote
Reply to comment by AutoModerator in For all of you on your side hustle, the IRS announces delay of $600 limit for 1099-k third party payment platforms by Guysmarket
www.irs.gov/newsroom/irs-announces-delay-for-implementation-of-600-reporting-threshold-for-third-party-payment-platforms-forms-1099-k](https://www.irs.gov/newsroom/irs-announces-delay-for-implementation-of-600-reporting-threshold-for-third-party-payment-platforms-forms-1099-k)
freddie_the_mercury t1_j2bf03f wrote
Reply to Do I get an IRA clean vehicle tax credit if I just bought a 2023 Chevy Bolt EUV last week? by Peace_Berry_House
this page for purchases through tomorrow. You do not qualify for a credit. https://www.irs.gov/credits-deductions/manufacturers-and-models-for-new-qualified-clean-vehicles-purchased-in-2022-and-before#:\~:text=If%20you%20bought%20a%20new,Internal%20Revenue%20Code%20Section%2030D
40for60 t1_iv1tk1g wrote
Reply to comment by 685327592 in [OC] Forbes 2022's Most Philanthropic US Billionaires by row64software
very smart. What % of dollars going into foundations are being used for self dealing? https://www.irs.gov/charities-non-profits/private-foundations/acts-of-self-dealing-by-private-foundation
jellicle t1_iuaxrs6 wrote
Reply to IRS CP2000 Letter, Unreported Income 2020. Former employer is listed as unreported income but I did not work for them in 2020. by [deleted]
years as well to make sure this problem doesn't also exist in 2019 or 2021. https://www.irs.gov/individuals/get-transcript You can challenge it in both places. If the employer is basically a legit, non-shady
Mysunsai t1_iyf19dt wrote
paid taxes to Germany, you can claim a tax credit for those taxes using form 1116. https://www.irs.gov/individuals/international-taxpayers/foreign-tax-credit
dequeued t1_j2fkqdk wrote
Reply to comment by yjlevg in Weekend Help and Victory Thread for the week of December 30, 2022 by IndexBot
full bill plus underpayment penalties? [Topic No. 306 Penalty for Underpayment of Estimated Tax](https://www.irs.gov/taxtopics/tc306) The current interest rate for underpayments is 6% (the underpayment penalty is based on the federal short-term
shadracko t1_j2f5ajp wrote
applying for an EIN number? [https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online](https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online) EDIT: I guess you're trying to register for an account at BSO: [https://www.ssa.gov/bso/bsowelcome.htm](https://www.ssa.gov/bso/bsowelcome.htm) It does seem that they just changed their policies to require
sciguyCO t1_iyea3oh wrote
Reply to HSA with domestic partner by aga1793
added to the limit) + some months of "family" coverage. However, there's a "[last month rule](https://www.irs.gov/publications/p969#en_US_2021_publink1000204025)" exception to that, which you may want to check into to see if that can safely
ScottCold t1_j48d7v5 wrote
should report it as interest received. See Topic 403 for more information about interest.* [- Source](https://www.irs.gov/faqs/interest-dividends-other-types-of-income/life-insurance-disability-insurance-proceeds)
atynre OP t1_j52shgi wrote
Reply to comment by frankstuckinapark in LPT: update your W9 withholdings so that you *owe* a little on your tax return instead of aiming to get a refund. by atynre
refund because you could be using that money throughout the year. [According to the IRS:](https://www.irs.gov/payments/underpayment-of-estimated-tax-by-individuals-penalty) >To avoid a penalty, pay your correct estimated taxes on time... You may avoid the Underpayment
supersonic_528 OP t1_iujvz7g wrote
Reply to comment by DeluxeXL in After-tax 401K to Roth IRA -- pro rata taxes by supersonic_528
rata basis if we are rolling over from an after-tax 401K account. https://www.irs.gov/retirement-plans/rollovers-of-after-tax-contributions-in-retirement-plans **Can I roll over just the after-tax amounts in my retirement plan to a Roth IRA and leave
Punkerkas t1_j5aet3y wrote
leaving this here if anyone is curious and has substantiated info to fill it out](https://www.irs.gov/pub/irs-pdf/f13909.pdf)
Ok-Director1797 t1_j5c9ffa wrote
Free program to do federal taxes https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free
WaywardDeadite t1_j5roedh wrote
Report James River Church to the IRS [here](https://www.irs.gov/charities-non-profits/irs-complaint-process-tax-exempt-organizations) for failing to comply with tax-exemption
DearTaxpayer t1_j62e776 wrote
Reply to WA EITC refunds by BobaButt4508
federal and state returns for free. You can look up the closest location to you here: https://www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers Because this is so new we still are learning what is required for this credit. From
tim36272 t1_j6aw1iv wrote
Reply to comment by ChickenCheeks7 in LPT Request: Why is my tax return so low? by ChickenCheeks7
shoot for a $0 refund every year. You can use the IRS's calculator at https://www.irs.gov/individuals/tax-withholding-estimator to try to make that happen. Just because it is mathematically optimal doesn't necessarily mean
Downvote_me_dumbass t1_j6boaai wrote
Reply to comment by tn69c1935 in LPT Request: Why is my tax return so low? by ChickenCheeks7
better than that, you aren’t finding some kind of benefit by paying with a CC. https://www.irs.gov/payments/pay-your-taxes-by-debit-or-credit-card
DeluxeXL t1_j6e9tsf wrote
Reply to Can Traditional IRA contributions be setup & deposited pre-tax each paycheck? by MitchJay85
deduction now, put the amount you plan to deduct annually on [Form W-4](https://www.irs.gov/pub/irs-pdf/fw4.pdf) step 4b. This way, payroll will know to withhold less tax because your taxable income is lowered
Status_Silver_5114 t1_j6i7wyz wrote
www.irs.gov/filing/free-file-do-your-federal-taxes-for-free. Skip the projo paywall
Werewolfdad t1_j6ijchv wrote
www.irs.gov/individuals/tax-withholding-estimator Fill that out for the most accurate
lovemoonsaults t1_j6k0hlb wrote
Reply to comment by XxCotHGxX in Has anyone gotten caught paying someone who works in their home under the table? by dotphrasealpha
people sure would like to *and they do it, even though it's not advisable! https://www.irs.gov/businesses/small-businesses-self-employed/hiring-household-employees It's not about income taxes, it's about the other things like social security, medicare, unemployment
SirMontego t1_jd22ymk wrote
Reply to Question about solar panel tax rebate by Ok_Translator_7026
comment already said "in service," I provide the following quotes from the IRS: [Form 5695 instructions:](https://www.irs.gov/pub/irs-pdf/i5695.pdf) >costs are treated as being paid **when the original installation of the item is completed ... page 6:](https://www.irs.gov/pub/taxpros/fs-2022-40.pdf#page=6) >Q1. May a taxpayer claim the credits in the year of purchase if installation of the qualifying property occurs in a later year? (added December ... claim the credits **until the year the property is installed.** [IRS 2013-70, Q-24/A-24:](https://www.irs.gov/pub/irs-drop/n-13-70.pdf#page=9) >Q-24: In 2010, Taxpayer A purchases and moves into a newly constructed home that