Today TaxMama® hears from Mahakavi in the TaxQuips Forum with a couple of questions – but we’ll only answer one of them here today. “TaxMama® keeps telling us to attach a statement to the tax return. How do you attach statements when you’re using commercial software?”
Tag Archives: Schedule D
Today TaxMama hears from Pam in the TaxQuips Forum with this problem. “My husband and I bought a house for $59.000 five years ago. Our daughter lived in the house, rent-free. Her name was on the title. We sold the house this spring for $48.000. We were issued a 1099 in our name (not our […]
Today TaxMama hears from Marina in the Tax Quips Forum, with this situation. “Two separate clients have purchased houses to flip in 2010. One is a R.E. agent the other is the owner of a construction co. (C corp). Both have purchased a house, and after renovating them, both were able to flip their houses […]
Today TaxMama hears from Clay in California, who tells us. “I invested in a company that failed. Where is that handled on the 1040 form? I have had other failures and I was only allowed to deduct $3,000 per year. I have a substantial capital gain this year on a sale of properties.” Hi Clay […]