Recent content by abezon

He reports his income & expenses on schedule C; yours go on line 7 of the 1040. Get ready for a balance due.

Only you can file as HH. Try to file first, as this will make your life easier.

Contact the company & request they reissue the 1099 as a box 3 Other Income amount. If the company won't, you can protest with the IRS, arguing that you performed no services for the company & the money was an award. Or you could just file a schedule C-EZ & then amend & see if you can get the...

yes. A

What country are you from?

Your taxable income is your total grants/scholarships, minus your total tuition, fees, books, & supplies. The left over $$ is taxable. If they hadn't given you the extra funds, you'd have had to go out & get a job for living money, which would have been taxable. Essentially, the gov't paid...

1. The neighbor is probably self employed & needs to file schedule C. 2. The payments can be used to claim the CCC. You will need the neighbor's name, address, & SSN.

Yes. You file a schedule C as usual & calculate if you have a net operating loss. If you do, you can carry it back 2 years or forward 20 years until you use it. I suggest you see a pro, as calculating an NOL is complicated.

The phrase is depreciation "allowed or allowable", which the IRS interprets as the higher number. The solution to unclaimed depreciation is to file form 3115 and claim catch-up depreciation. However, you must file form 3115 before the end of the calendar year in which you sell the property, so...

If you still live in CA, contact your representatives & write Arnold to complain about how unfair it is to reopen a tax return you filed 20 years ago. This is happening to thousands of people.

Nonresidents pay FICA taxes just like US citizens do. The people who are exempt from paying FICA taxes are usually students whose wages are part of a financial aid package or who are being paid by a foreign company. I suggest you find a tax pro who has experience with international/nonresident...

If you believe you are still an employee, you can file a form ss-8 requesting the IRS to determine your status. If the IRS determines you are an employee, it will make the company pay its half of the employment taxes and probably your half as well. As an alternative, you can report your income...

You can also examine old returns to see if you would have gotten more money by claiming EIC for your 2 kids, than by you claiming EIC for 1 & him claiming for the other kid.

If the loan was for attendance at a university where an American student could have gotten US financial aid to attend, you can deduct the interest. Contact the registrar's office and ask if they have filed the paperwork to participate in the US financial aid system.

1. Your deduction for donations is limited to your basis. Since you paid only $800, that's your max deduction. 2. Deductions are allowed IF you can prove them. Since you didn't keep any records of the miles driven for charitable purposes, you're lucky SC is allowing you anything. BTW, if...