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No. Income averaging is limited to certain lump-sum distributions from qualified retirement plans. There is no income averaging for IRA distributions or income resulting from a Roth IRA conversion....
While casualty losses to personal use property in 2018 are not deductible unless the property is located in a federally-declared disaster area, this rule does not apply to investment property. If you ...
While annual contributions to Roth IRAs can be made up to the due date of the return (e.g., April 15, 2019, for 2018 contributions), a Roth IRA conversion is taxable in the year it is made. So if you ...
If you itemize deductions instead of claiming the standard deduction, you may be eligible for an itemized medical deduction with respect to treatment for your child’s condition. Depending on the sev...
The age of the vehicle does not determine whether you can claim the standard mileage rate. For 2018, you must be self-employed to claim deductions for business driving. And you must choose to use the ...
The Tax Cuts and Jobs Act ended the individual mandate starting in 2019. So for 2018, you’ll be penalized unless you have minimum essential health coverage or qualify for an exemption from coverage....
A government’s exercise of eminent domain is really a condemnation where private property is legally taken for public use. Gain (or loss) from the event is the difference between the award you recei...
Instead of depreciating certain expenditures, you may be able to use an IRS-created de minimis safe harbor to deduct these costs (up to $2,500 per item or invoice). You can find more about the safe ha...
Even though you are under age 59½, you won’t be penalized for an IRA distribution used to pay medical expenses in excess of 7.5% of adjusted gross income in 2017 or 2018. The AGI threshold is set t...
You have three years from the due date of the tax return to file for a refund. So you must file a 2015 return no later than April 15, 2019, to claim the refund. You can find prior year tax forms from ...
No. Income averaging is limited to certain lump-sum distributions from qualified retirement plans. There is no income averaging for IRA distributions or income resulting from a Roth IRA conversion....
While casualty losses to personal use property in 2018 are not deductible unless the property is located in a federally-declared disaster area, this rule does not apply to investment property. If you ...
While annual contributions to Roth IRAs can be made up to the due date of the return (e.g., April 15, 2019, for 2018 contributions), a Roth IRA conversion is taxable in the year it is made. So if you ...
If you itemize deductions instead of claiming the standard deduction, you may be eligible for an itemized medical deduction with respect to treatment for your child’s condition. Depending on the sev...
The age of the vehicle does not determine whether you can claim the standard mileage rate. For 2018, you must be self-employed to claim deductions for business driving. And you must choose to use the ...
The Tax Cuts and Jobs Act ended the individual mandate starting in 2019. So for 2018, you’ll be penalized unless you have minimum essential health coverage or qualify for an exemption from coverage....
A government’s exercise of eminent domain is really a condemnation where private property is legally taken for public use. Gain (or loss) from the event is the difference between the award you recei...
Instead of depreciating certain expenditures, you may be able to use an IRS-created de minimis safe harbor to deduct these costs (up to $2,500 per item or invoice). You can find more about the safe ha...
Even though you are under age 59½, you won’t be penalized for an IRA distribution used to pay medical expenses in excess of 7.5% of adjusted gross income in 2017 or 2018. The AGI threshold is set t...
You have three years from the due date of the tax return to file for a refund. So you must file a 2015 return no later than April 15, 2019, to claim the refund. You can find prior year tax forms from ...
