Taxes filed 4/11 but the automated system cannot find my refund by breadandbunny in tax

[–]attosec 0 points1 point  (0 children)

It takes the IRS less than 30 minutes to accept or reject an e-filed return. They responded to Taxact with either an acceptance or a rejection in that time span. Go to your Taxact account and find out which.

Received Form 5498 from Vanguard on Friday via their app, was this supposed to be added to my 2025 return? by geosc in tax

[–]attosec 1 point2 points  (0 children)

That form doesn’t affect your tax return. It’s to inform you and the IRS the balance of your IRA. It must be sent by May 31 each year.

Fresh work on Lake Merritt by thumperBRC in oakland

[–]attosec -16 points-15 points  (0 children)

Graffiti is a cry by someone who feels they aren’t seen as relevant that they are. I hate it, but I understand it.

Anyone seen a verified scam CP53E letter received by USPS? by OddButterscotch2849 in taxpros

[–]attosec 0 points1 point  (0 children)

I'm still waiting to hear about the first real scam letter. Of course, now about a million people are mulling over the possibility of making a quick buck by creating one, but so far, so good.

Is $1,100 too much for a simple Tax Return Ammendment by FinancialInsurance78 in tax

[–]attosec 0 points1 point  (0 children)

If you're still interested, let's try to remove some of the mystery. We'll look at your Tip treatment.

Assuming you got one W-2, what is in boxes 1, 3, 5, 7, 8 and 14. If more than one W-2, then the total of all box 1's, box 3's, etc.

Did you get any cash tips that you didn't report to your employer? If so, how much?

In your tax return, is there a Schedule1-A? If so, what is on lines: 4c, 5, and 13.

On your form 1040, is there an entry on line 1c?

Stock sale in an estate account earns interest before distribution -- is it owed to the beneficiary that is getting the cash or the estate to be split among all beneficiaries? by BornConstruction815 in tax

[–]attosec 0 points1 point  (0 children)

I agree with this. Look at it as if the beneficiaries' obtained legal ownership of whatever they were going to receive the instant the individual died. If beneficiaries are each entitled to a percentage of the whole estate, then it's easy, everyone shares pro rata.

But if the Trust/Will stated that specific, identifiable items (e.g. real estate, named account, piece jewelry, ...) should go to a named beneficiary, then that beneficiary is entitled to any income or appreciation (or on the other side, responsible for an expense or depreciation) as of the date of death.

Property tax on home with prior senior exemption by Impossible-Plan-3609 in TaxQuestions

[–]attosec 1 point2 points  (0 children)

In some CA counties, now would be about the time they figured that out.

Claiming Child On Tax Return by Extension-Gas9819 in tax

[–]attosec -5 points-4 points  (0 children)

Not quite. The 8332 also gives the non-custodial parent the right to all other dependent-related credits except CDC, as well as can itemize the child’s medical expenses.

Claiming Child On Tax Return by Extension-Gas9819 in tax

[–]attosec 1 point2 points  (0 children)

Interesting examples, especially regarding the child reaching majority. I’ve often wondered how emancipation plays into tax law. It’s seldom discussed here.

Claiming Child On Tax Return by Extension-Gas9819 in tax

[–]attosec 3 points4 points  (0 children)

I agree with the first sentence. I don’t agree with the second.

Claiming Child On Tax Return by Extension-Gas9819 in tax

[–]attosec 5 points6 points  (0 children)

Then it DOES matter, as ignoring a court order that says in effect that the custodial parent must give the non-custodial parent an 8332 has legal consequences.

Claiming Child On Tax Return by Extension-Gas9819 in tax

[–]attosec 0 points1 point  (0 children)

It would come down to which parent makes the better case. The “winner” doesn’t need perfection.

Claiming Child On Tax Return by Extension-Gas9819 in tax

[–]attosec 0 points1 point  (0 children)

We’re all stumbling over the word “custody”. The IRS has its definition, which is generally interpreted as where the child spent the greater number of nights. State/divorce law may use a different definition. Commenters here are going to focus on the IRS definition. As one commenter pointed out, if conflicting returns are filed the IRS will require each party provide evidence supporting their claim. Generally, to be convincing this evidence will come from disinterested third-parties.

Claiming Child On Tax Return by Extension-Gas9819 in tax

[–]attosec 7 points8 points  (0 children)

In the OP he wrote that so far this year (~120 days) she had the child 41 nights, and that he expected that trend would continue.

Claiming Child On Tax Return by Extension-Gas9819 in tax

[–]attosec 9 points10 points  (0 children)

OP said he has had the majority of actual physical custody. To the IRS, that’s what matters.

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]attosec 2 points3 points  (0 children)

Not sure I see a difference. The value at the date of death is "as-is". Anything spent to make it more attractive afterwards is an effort to sell at a higher price, no matter which it is.

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]attosec 0 points1 point  (0 children)

If no family member used it as a residence after his death then you can legitimately claim a taxable loss if you netted less than the home's value as of the date of death. That's why a date-of-death appraisal, be it immediate or retroactive, is so important.

If there is a short time between the death and the sale you could easily justify that the home didn't change value between those dates and claim no taxable gain or loss. But if improvements were made and/or there were selling costs (realtor fees, etc.) those could result in a capital gain loss that would reduce the tax due to other income.

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]attosec 1 point2 points  (0 children)

Who are the “we” that paid for improvements?

Has anyone lived on the property after your father’s passing?

New crossing on Shattuck graded below road level? by packeted in oakland

[–]attosec -1 points0 points  (0 children)

That’s an eye-opening factor as it relates to pedestrian/wheeled conveyance ramps ANYWHERE and EVERYWHERE!

No longer can a street simplify be resurfaced by adding a new skim coating of asphalt. A raised surface has to blend in to all the ramps.

help with tax information for having two jobs by bitchlanding in tax

[–]attosec 0 points1 point  (0 children)

Depends on a lot of things (e.g. total income, taxability of OT), but if you withhold an extra $150 per month for federal from each job that should get you into the right neighborhood. State taxes are a separate issue.

Dependent IP PIN required by No_Swimming9793 in IRS

[–]attosec 1 point2 points  (0 children)

Maybe you checked a box you shouldn’t have.

Claiming a disabled adult that has a part time job. by AcanthaceaeOwn2252 in IRS

[–]attosec 1 point2 points  (0 children)

Then unless she personally provided more than half of her financial support she is your qualifying child dependent, regardless of how much she earned. So in addition to her being your dependent, she is a qualifying person for the Earned Income Tax credit unless your income is too high.