Page 4 31 - 40 of 261
What Is the Difference Between Form 1040 and 1040-SR?
If you’ve filed a federal income tax return since the year 1913, you’re likely familiar with IRS Form 1040.
Can You Deduct Mortgage Interest on a Rental Property?
Owning a rental property can be profitable for real estate investors. An owner may be actively investing or passively investing, depending on the property. As with many investments, the ability to deduct certain expenses is an essential component of the financial equation. One expense that investors ask about is the deductibility of mortgage interest.
How to Report the Sale of Inherited Property On a Tax Return
Anyone who’s dealt with inherited property likely knows how important the step-up in basis can be for real estate transferred to heirs upon the owner’s death.
Do You Have to File a 706 Form to Get a Step Up in Basis?
Inheriting property can trigger tax questions. After all, there can be taxes for the estate and the beneficiaries. But there is a lot that determines where taxes will come from on inherited property.
If I Sell Inherited Land, Is it Taxable?
Heirs who inherit property or expect to inherit property will generally have a number of tax questions. Are taxes due now or only when I sell? Are taxes owed in the future? How much in taxes will I have to pay?
Are K-1 Distributions Considered Taxable?
Schedule K-1 is a tax form that reports income, losses, and dividends. The K-1 can be used by partnerships, S-corporations, and trusts to report income, losses, deductions, credit, and distributions to their stakeholders and the IRS. Depending on the issuer, the information on the K-1 is used to complete Form 1065 (partnership tax return), Form 1120-S (S-corporation tax return), or Form 1041 (trust and estate tax return).
Page 4 31 - 40 of 261
