Taxes

Tax Adviser

By George Saenz • Bankrate.com

New rules to report capital gains, losses

Heads up -- the IRS will be able to better track gains and losses with the new Form 8949.

Archive

Reporting interest from foreign accounts

Article: The IRS imposes stiff penalties on individuals who don't report offshore account earnings.

Offset capital gains from flipped property

Article: As long as flipping property is not a business, you can offset the gain with stock market losses.

Getting tax credit for education expenses

Article: Use the American opportunity credit to help pay college costs, including tools required for school.

Taxable fringe benefits from the employer

Article: If an employee doesn't pay premiums for disability insurance, are benefits taxable?

Who pays tax on disability benefits?

Article: Social Security disability benefits are taxable, depending on your level of income.

Capital gain tax and nonresident investors

Article: Is it really true nonresidents don't have to pay taxes on capital gains tax on stocks?

Figuring taxes on failed installment sale

Article: When a buyer stops paying and a renter trashes her condo, what is this widow to do?

Deducting investment interest expense

Article: Your mortgage interest can offset investment income from dividends, interest and capital gains.

IRS suspicious of dependency exemptions

Article: There's abuse in this area. Provide records to establish your right to claim the dependents.

Health insurance deduction for S-corp

Article: You can't claim a deduction for your health plan at the corporate level, but you can on Form 1040.

Getting around foreign withholding tax

Article: If the tax withheld is excessive, a foreigner can appeal to the IRS by filing Form 8288-B.

Deduct health insurance premium?

Article: Thanks to the recent jobs act, sole proprietors get a break on health insurance costs.

Is cash surrender value of insurance taxed?

Article: If the cash surrender value of the policy consists of excess earnings, that portion is taxable.

Tax write-off for small business

Article: If you use a loss to offset a Roth IRA conversion, it'll be difficult to pay taxes on future profits.

Claiming tax loss on a rental property

Article: The passive activity loss rules from the IRS will dictate rental deductions.

Capital gains on sale of money pit

Article: The insurance settlement for a sinkhole and subsequent sale are treated as the sale of your home.

Capital gains tax on sale of gold or silver

Article: When you sell personal property, you have to pay tax on the gain, but there's no deduction for a loss.

Uncle Sam helps out with children's day care

Article: Expenses paid with a flexible spending account can't be claimed for the child care credit.

Maximizing your capital gains exclusion

Article: When figuring your home's adjusted basis, include its cost and any improvements to the property.

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