Form 1099-S shows proceeds from real estate transactions. If you receive Form 1099-S for the sale of your main home, and you don’t qualify to exclude some or all of the gain, you’ll report the sale transaction onForm 8849andSchedule D. If you receive Form 1099-S for the sale of...
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What is IRS Form 720? How do you calculate and pay excise tax? Visit Defense Tax Partners now and get step-by-step instructions for filling out Form 720.
The IRS Form 1040 is one of the official documents that U.S. taxpayers can use to file their annual income tax return. IRS Form 1040 comes in a few variations. There have been a few recent changes to the federal form 1040. We’ll review the differences a
IRS Form 1040-SRis a version of the 1040 tax return that's been created specifically for use by older adults over the age of 65. Key Takeaways Form 1040-SR is a tax return designed specifically to meet the needs of older adults. ...
When selling your home, you may have signed a form certifying you will not have a taxable gain on the sale. If you completed a 1099-S Exemption Certification Form and you met all six criteria for not having to report the sale on your tax return, the title company or closing attorney ma...
Form 8829 is used to calculate the home office deduction using your actual expenses for the business use of your home. Don’t use Form 8829 if you use the simplified method to calculate the deduction. Self-employed business owners can claim the home office deduction, but regular...
Most 1099 forms are required to be filled out and sent by January 31 and some have minimum reporting requirements. These would be a certain threshold or amount of money that requires that the form be sent. Most of these forms need to be sent for any amount, but the following have a set...
The IRS this week warned taxpayers about its new $600 reporting threshold for third-party payments and the need to fill out a 1099-K form should taxpayers exceed that limit. Read More Commentary: The U.S. Senate’s ‘Spendthrift Seven’ Are the IRS’ Best Friends ...
Internal Revenue Service (IRS) has considered the interest of lease revenue obligations issued by the California Cities Home Ownership Authority, as taxable. Reasons behind the consideration of such interest as taxable; Issuance of series of bonds to operate a homeowner assistance program; Assertion ...