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Taxes

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General Information (11)
Alimony and Child Support (2)
Charitable Giving (3)
Employment (7)
Filing Extensions (1)
Forms (1)
Marriage and Children (2)
Offer in Compromise (1)
Real Estate and Your Home (2)
Senior Citizens (2)
Students and Education (2)

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Resource Description:	Questions answered by the resource:
Custodial Parent http://www.irs.gov/faqs/faq-kw35.html Source: Internal Revenue Service Answers to frequently asked questions about the consequences of being a custodial parent. full description	Can I claim child care expenses if I am a custodial parent but my ex-spouse is allowed to claim the exemption for the child? Can a custodial parent claim the Child Tax Credit if the noncustodial parent claims the child as a dependent due to the divorce agreement? Does my child have to also be my dependent in order to claim the Earned Income Credit? If a noncustodial parent receives permission to claim a child as a dependent, can the noncustodial parent also claim the Earned Income Credit? Can I file for both the Child Tax Credit and the Child Care Credit? If I file as 'married filing separately' can I also claim the Additional Child Credit? Does a dependent grandchild qualify for the Child Tax Credit? Can I get the Child Tax Credit for a child if the child does not have a social security number? Can I claim the Child Tax Credit for a child who died shortly after birth?
Estate and Gift Tax http://www.nolo.com/lawcenter/ency/article.cfm/obj Source: Nolo Answers to frequently asked questions regarding estate and gift tax. full description	Will my estate have to pay taxes after I die? What are the rates for federal estate tax? Are there ways to avoid federal estate tax? Can I just give away all of my property before I die to avoid estate taxes? Do some states impose death taxes? Can I avoid paying state death taxes?
Work Opportunity Tax Credit Program (WOTC) http://www.dol.gov/odep/pubs/fact/wotc.htm Source: United States Department of Labor Informational page detailing the work opportunity tax credit (WOTC) program in how it relates to individuals with disabilities. full description	What is the work opportunity tax credit (WOTC) program? What is the WOTC? How does the Work Opportunity Tax Credit Program relate to disabled individuals? How do I file for the WOTC? Do I qualify under the WOTC? Do disabled individuals qualify under the WOTC?
Prescreening Notice and Certification Request for the Work Opportunity and Welfare-to-Work Credits http://www.irs.ustreas.gov/pub/irs-pdf/i8850.pdf Source: Internal Revenue Service IRS Form 8850 to apply for the Work Opportunity Tax Credit full description	Where can I get the forms to apply for the WOTC? How do I apply for the WOTC?
Requesting an Extension http://www.nolo.com/lawcenter/ency/article.cfm/obj Source: Nolo General information about requesting an extension to file a tax return. full description	How do I request an extension to file a tax return? How many months extension can I get for filing a tax return? By what date do I have to file a request for an extension on a tax return? Will I have to pay additional penalties if I request an extension on my tax return? When do I have to pay the tax I'll owe if I file an extension on my tax return? What happens if I don't request an extension and I don't file, or pay my taxes, by April 15? What if I can't pay the tax that I owe on my return? Where can I get tax forms to complete my tax return?
Publication 968 - Tax Benefits for Adoptions http://www.irs.ustreas.gov/pub/irs-pdf/p968.pdf Source: Internal Revenue Service Informational brochure detailing the tax benefits available when one goes through the process of adopting a child. full description	What are the tax credits available to persons who have recently adopted a child? Do the funds received from an employer for adoption expense have to be included in gross income? What does the IRS consider qualifying adoption expenses?
Tax Facts for Seniors http://www.abanet.org/tax/irs/2002/p3864.pdf Source: American Bar Association Brochure prepared by the American Bar Association containing information useful to senior citizens who have had a change in their marital status due to death, divorce or marriage. full description	Do I have to pay taxes if I hire someone to help me around the house? Do I have to pay taxes if I am paid to do odd jobs here and there for people? As a senior citizen, what are the tax issues I should be concerned about? Are there any organizations that help senior citizens prepare their tax returns? What factors determine whether or not I have to file a tax return? What counts as income? Do social security benefits count as income? How do I know if I should file estimated taxes? How do I deduct medical expenses? Do I have to itemize my deductions in order to deduct my medical expenses? What are the tax consequences of selling my home? Do senior citizens qualify for any special tax credits? What income tax issues do I need to know about if my spouse dies? Should I worry about estate taxes if I am a senior citizen? What tax and finance records should I keep and for how long should I keep them?
Retirees/Senior Citizens http://www.irs.gov/taxtopics/tc451.html Source: Internal Revenue Service Answers to questions frequently asked by retirees and senior citizen regarding federal income taxes. full description	How do I calculate the minimum amount that must be withdrawn from my IRA after age of 70 1/2? If I cash in an IRA account while I'm in my thirties, what forms do I need to fill out? If I cash in an IRA account while I'm in my thirties, when do I pay tax penalties? Can the 10% penalty on the early withdrawal of an IRA be deducted in the Adjusted Gross Income section of the 1040 as a penalty on early withdrawal of savings?
Tax Benefits of Charitable Giving http://www.abanet.org/tax/taxtips4u/charity-deduct Source: American Bar Association General information to know if one is planning to take a tax deduction for a charitable donation. full description	How do I know if a charity is tax-exempt? What records should I keep for small donations? What records should I keep for large donations? How much of a charitable donation can I deduct if I received something in return from the charity? Can I deduct as a charitable gift any services I performed for a charity? Can I deduct as a charitable gift the office space I allowed a charity to use rent-free? How much can I deduct for charitable gifts?
Offers in Compromise http://public.findlaw.com/taxation/nolo/ency/6F552 Source: Findlaw General information regarding the Offer in Compromise (OIC). Through an OIC, a taxpayer may have the amount of tax liability owed to the IRS reduced. A formal process must be followed in preparing the OIC and it is entirely within the government's discretion whether to accept an OIC. full description	What is an Offer in Compromise? How do I submit an Offer in Compromise? Can anybody submit an Offer in Compromise? For what reasons can a person submit an Offer in Compromise? How much should I offer to the IRS in an Offer in Compromise? What does "Realizable Value of Assets" mean? What is "Quick Sale Value"? What is "future income" for purposes of an Offer in Compromise? What if I've calculated an amount an Offer in Compromise using the IRS worksheets, but it's an amount I cannot pay? What should I do if my Offer in Compromise was rejected by the IRS? How do I appeal a rejection of an Offer in Compromise?
Pooled Charitable Trusts http://www.nolo.com/lawcenter/ency/article.cfm/obj Source: Nolo General information regarding Pooled Charitable Trusts. These trusts allow those with smaller incomes to get the tax benefits of contributing to a charitable trust. full description	What is a pooled charitable trust? What is the tax advantage of contributing to a pooled charitable trust? Do I get to take a tax deduction on the money I put into a pooled charitable trust? Do I have to pay tax on the income paid to me by a pooled charitable trust? Can I continue to contribute to a pooled charitable trust after make an initial donation? How much of a tax deduction do I get for a contribution made to a pooled charitable trust? What happens with money donated to a pooled charitable trust after the death of the beneficiary? What are the consequences of donating appreciated property to a pooled charitable trust?
Charitable Giving: Before You Give http://www.abanet.org/tax/taxtips4u/charity-b4.htm Source: American Bar Association Checklist of items one should consider before making a charitable gift. full description	What should I know about a charity before I make a donation? How do I know if an organization is a non-profit tax exempt charity? How do I know if an organization is a legitimate charity?
Child and Dependent Care Credit http://www.irs.gov/faqs/faq7-1.html Source: Internal Revenue Service Answers to frequently asked questions regarding the Child and Dependent Care Credit. full description	Can I claim the Child and Dependent Care Credit? May I include my 5 year old son's parochial school kindergarten tuition cost as a qualified expense in Form 2441, Child Care Expenses? I paid into a dependent care benefits plan and the amount is shown in Box 10 of the my Form W-2. However, the cost paid to the child care provider was more. Can the additional expense not paid into the dependent care benefits plan and not shown in Box 10 of the W-2 be claimed on Form 2441? If my employer did not put the amount I paid into a flexible spending account for dependent care in box 10 on my Form W-2, can I claim the Child and Dependent Care Tax Credit? How can my employer say they provided a benefit in the total amount of $3,000 in W-2, Block 10 when I had $3,000 in wages set aside for dependent care benefits? How do I complete Form 2441 if I have flexible dependent care benefits through my employer? I am self-employed, but did not have a net profit last year. Is it correct that we do not qualify for the Child Care Credit on our joint return even though my wife received dependent care benefits on her W-2 box 10? Is a flexible spending account for dependent care a dependent care benefit? My divorce decree states that my ex-spouse can claim our daughter as an exemption on alternate years. I am the custodial parent and pay child care expenses. Can I claim child care expenses on the years he takes the exemption? My babysitter refused to provide me with her social security number. Can I still claim what I paid for child care on my taxes while I worked? If so, how? As a child care center, are we required to give out tax statements to any of our parents who request one? If I send my child who was under the age of 13 to a day camp instead of a child care facility for the summer, are these deductible expenses? I am thinking of having a family member baby-sit for my child full time in their own home while I work. Are either of us responsible for taxes on the money I would pay? Can elderly day care payments qualify for the child and dependent care credit?
Reducing Estate Tax through Gifts http://www.nolo.com/lawcenter/ency/article.cfm/obj Source: Nolo General information regarding using gifts to reduce the amount of estate tax that may be owed upon death. full description	How can I reduce the likelihood of estate tax liability upon my death? How much can I give to a person per year without incurring taxes? How does giving gifts reduce the amount of estate tax that I may owe at death? How does the Annual Exclusion work? Can both people in a 'couple' give gifts of the exclusion amount to the same person? How does the Double Exclusion for couples work? How much can be given to a 'couple' in a year without incurring taxes? Can I make a gift to my spouse without incurring taxes? What property should I give away in attempt to reduce future estate taxes? What is a 'tax basis'? Is it better to make a gift of property that has increased in value or property that is expected to increase in value? What does 'carry-over basis' mean? What should I know about giving gifts to young children? Do gifts to children qualify for the Annual Exclusion from tax liability?
Publication 17 - Federal Income Tax Return http://www.irs.gov/pub/irs-pdf/p17.pdf Source: Internal Revenue Service IRS publication designed to help taxpayers prepare their federal income tax return. It supplements the information in the tax form instruction booklet. It explains the tax law and helps one understand their taxes so that they only pay the tax they owe. (This is a large document; please allow time for it load onto your computer.) full description	Where can I find information on federal income tax returns? How do I know what my filing status should be on my federal tax return? Where can I find information on estimated tax? Where can I find information on tax withholding? Where can I find information on tip income? Where can I find information on rental income? Where can I find information on reporting income on my federal tax return? Where can I find information on the tax consequences of selling my home? Where can I find information on moving expenses? Where can I find information on the tax consequences of paying or receiving alimony? Where can I find information on the sorts of expenses allowed when filing a federal income tax return? Where can I find information on figuring the amount of tax I owe? Where can I find information on the tax credits that may be available to me? Where can I find a 2002 tax table? Where can I find tax schedules for 2002? Where can I find information on my rights as a taxpayer?
Applying for Innocent Spouse Relief http://www.irs.gov/individuals/article/0,,id=10217 Source: Internal Revenue Service Links to the innocent spouse request Form 8857 and instructions for filing. full description	How do I file for innocent spouse relief? What form do I need to claim innocent spouse relief? Where can I find the Form 8857 to apply for innocent spouse relief? Where do I send the Form 8857? Where do I send my request for innocent spouse relief?
Education and Work-Related Expenses http://www.irs.gov/faqs/faq3-2.html Source: Internal Revenue Service Answers to frequently asked questions regarding tax deductions for certain education and work-related expenses. full description	What educational expenses are deductible? What are types of educational expenses? Can I deduct the cost of classes I need for work? Am I eligible to claim both job-related educational expenses and the Lifetime Learning Credit? My employer is including my graduate school tuition reimbursements on my W-2. Where do I claim these education expenses on my Form 1040? Is the exclusion from income of up to $5,250 of employer-provided educational assistance under a qualified program still available? How do I claim an educational expense on my return? Where can I get more information on educational expenses? I have a child attending a private Catholic grade school. Is any or all of the tuition I pay deductible or a tax credit? I will be homeschooling my child next year and would like to know if school related expenses, such as curriculum, school supplies, field trip activities, etc., are deductible? If your child is diagnosed as ADD and cannot function in a public school setting and must be sent to a private school, can the cost of the private school be deducted from your taxes? Can I file Form 1040EZ if I have interest to deduct from student loans? Can I take a deduction for the interest I paid on my student loan? What are the limits for deducting interest paid on a student loan? Does consolidating my student loans impact how the 60-month period for student loan interest is calculated? Is the $2,500 maximum deduction (credit) for student loan interest per PERSON, or per RETURN? I am married filing jointly, and have paid over $3,000 between my husband and I of qualified interest payments. Are we allowed to deduct $5,000 ($2,500/person) or only $2,500 total on our return? If I file married filing separately can I claim the new student loan interest deduction? I am a parent repaying a loan for my daughter's college education. The loan is a parent's loan taken out in my name. Is the interest deductible on my tax return? My mother borrowed money for my college education. Now that I'm out of school, I make the monthly payments, but the loan is under her name. Can I take the student loan deduction since I'm actually making the payments? Last year, my parents took out a student loan for me in their name and I also took out a student loan. My parents received Form 1098-E for their loan and I also received Form 1098-E for my loan. Can we both claim the interest from the loans on our tax returns? I am an employee. What form do I use to claim business expenses for local transportation? I moved to a different state to accept a new job. Will I be able to deduct all of my moving expenses?
Education IRAs http://www.irs.gov/individuals/article/0,,id=96275 Source: Internal Revenue Service Answers to frequently asked questions regarding Education IRAs. full description	What is an Education IRA? For whom may an Education IRA be established? Where may an individual open an Education IRA? When may a taxpayer start contributing to an Education IRA for a child? How much may be contributed to an Education IRA? What happens if more than $500 is contributed to an Education IRA in one year? May contributions other than cash be contributed to an Education IRA? May contributors to an Education IRA take a deduction for those contributions? Are there restrictions on who can contribute to an Education IRA? May a child contribute to her own Education IRA? Does a taxpayer have to be related to a child to donate to that child's Education IRA? How many Education IRAs may a child have? May a designated beneficiary take a tax-free withdrawal from an Education IRA if they are enrolled less than full-time? What happens when a person makes a withdrawal from an Education IRA to pay for school expenses? What are 'qualified higher education expenses'? What is an eligible education institution? What happens if a person withdraws funds from an Education IRA but does not have higher education expenses? Is a distribution from an Education IRA taxable if it is contributed to another Education IRA? What happens to the assets in an Education IRA after the designated beneficiary has finished her education? May an Education IRA be transferred to another child/beneficiary without triggering a tax? May a student or her parent's claim the Hope Scholarship Credit or the Lifetime Learning Credit in a year in which the student receives money from an Education IRA on a tax-free basis? May contributions be made to both a qualified state tuition program and an Education IRA on behalf of the same beneficiary in the same year?
Starting a Business http://www.irs.gov/businesses/small/article/0,,id= Source: Internal Revenue Service Links to information about what is involved in starting a new business and some of the important issues to consider. full description	What should I do if I want to start my own business?
Home Office Tax Deduction http://www.nolo.com/lawcenter/ency/article.cfm/obj Source: Nolo General information regarding the possible tax benefits to those who use part of their home as a business office. full description	When can I take the home office tax deduction? Can I take a tax deduction if I use part of my home for my business? What expenses can be deducted as part of the home office tax deduction? What requirements do I have to meet to be able to take the home office tax deduction? What does it mean to have regular and exclusive use of part of my home for business purposes? Can I take a home office tax deduction if my children also use the 'office area' for doing their schoolwork? Can I take a home office tax deduction if I have another office elsewhere? How do I know if my home is my principal place of business? If I don't qualify for the home office tax deduction can I still take a deduction for other expenses associated with my business? Can I take a home office tax deduction if I regularly meet clients in my home? In what ways can I create documentation for my home office tax deduction?
Earned Income Tax Credit http://www.irs.gov/individuals/article/0,,id=96466 Source: Internal Revenue Service Answers to frequently asked questions regarding the Earned Income Tax Credit. Discusses who can claim the credit, who is a qualifying child for purposes of the credit, how to figure the amount of the credit and also what to do in case you claimed, but were denied, the credit in the past. full description	What is the Earned Income Tax Credit (EITC)? Who can claim the earned income credit? What should I do if I was denied the earned income credit in the past? Who is a qualifying child for purposes of the earned income credit? Who is an eligible foster child for purposes of the earned income credit? What is Earned Income? What is modified adjusted gross income? What is modified AGI? How do I figure the amount of an earned income credit? Where can I find information on the Earned Income Tax Credit?
Advanced Earned Income Tax Credit http://www.irs.gov/individuals/article/0,,id=96515 Source: Internal Revenue Service Answers to frequently asked questions regarding the Advanced Earned Income Tax Credit. full description	What is the Advanced Earned Income Tax Credit? Why should I be interested in getting the advanced earned income credit? How do I get advanced earned income credits? What happens if I claim the advanced earned income credit but later in the year I earn too much to qualify? Could my advanced earned income credit payments change? Do I have to file a tax return if I get the advanced earned income credit? Where can I find more information on the advanced earned income credit?
Tip Income http://www.irs.gov/govt/tribes/article/0,,id=10242 Source: Internal Revenue Service Answers to frequently asked questions regarding reporting tip income. full description	Is it legal for my employer to require me to report 10% of my sales as tips rather than report my actual tips? How do I account for tips to the bus-boy and the bartender from the tips I receive? If reported tips from employees are more than 8% of sales, does an employer have to allocate tips to the employees? Can the 8%, normally used for allocated tips, be a matter agreed upon as reported tips between the employer and employees, so that the employees do not have to report the exact amount of their tips?
Adoption Taxpayer Identification Number http://www.irs.gov/individuals/article/0,,id=96452 Source: Internal Revenue Service Answers to frequently asked questions regarding the Adoption Taxpayer Identification Number. This information is for taxpayers who need a taxpayer identification number for a child who has been placed in their home pending final adoption. full description	What is an Adoption Taxpayer Identification Number? Who needs an Adoption Taxpayer Identification Number? Why do I need an Adoption Taxpayer Identification Number? Can I get an Adoption Taxpayer Identification Number if I am adopting a child from a foreign country? What form do I use to apply for an Adoption Taxpayer Identification Number? What do I need to complete the Form W-7A? What is the placement documentation needed for the W-7A? Should I send in my original placement documentation with the Form W-7A? How long is an Adoption Taxpayer Identification Number valid? Why does the Adoption Taxpayer Identification Number expire after two years? What do I do if my Adoption Taxpayer Identification Number expires before the adoption is finalized? When should I apply for an Adoption Identification Number? How long does it take to get an Adoption Taxpayer Identification Number? Can I use an Adoption Taxpayer Identification Number to claim the Earned Income Tax Credit?
IRS Collection Process http://www.irs.gov/pub/irs-pdf/p594.pdf Source: Internal Revenue Service Publication explaining the steps the IRS may take to collect overdue taxes. Includes a summary of a taxpayer's rights and responsibilities in the collection process. full description	What can I do if I owe taxes to the IRS but I am not able to pay? What is an Offer in Compromise? Can I set up a payment plan to pay the taxes I owe to the IRS? What is a lien? How do I get a lien taken off my property? What is a levy? How do I get a levy taken off my wages? What can I do if I disagree with the IRS? What is Fast Track Mediation? What is a Collection Due Process hearing? What is the Taxpayer Advocate service?
Appeal Rights http://www.irs.gov/individuals/article/0,,id=97125 Source: Internal Revenue Service Overview of the various processes that can be used to appeal IRS tax decisions. Gives information about your rights as a taxpayer, your appeal rights, and how to prepare a protest. full description	What rights do taxpayers have to appeal IRS tax decisions? How can I appeal an IRS tax decision that I don't agree with? What is an IRS appeals conference? How do I arrange for an IRS appeals conference? What happens if I don't reach an agreement with the IRS during an appeals conference? Do I need to file a written protest to receive an IRS appeals conference? Do I need to file a small case request to get an IRS appeals conference? Can I be represented by an attorney in an IRS appeals conference? Can I appeal an IRS tax decision in court? Will I have to pay courts costs if I choose to appeal an IRS tax decision in court?
Where's My Refund http://www.irs.gov/individuals/article/0,,id=96596 Source: Internal Revenue Service Link to a secure Web site to find out if the IRS received your return and whether your refund was processed and sent to you. full description	Where is my refund? How do I find out if the IRS has received my return and mailed me my refund?
Who Should File http://www.irs.gov/individuals/article/0,,id=96623 Source: Internal Revenue Service General information on who should file a federal income tax return even if they are not required to do so. full description	Should I file a federal income tax return? Why should I file a federal income tax return if I don't have to?
Who Must File http://www.irs.gov/businesses/small/international/ Source: Internal Revenue Service General information on who must file a federal income tax return. If you are a U.S. citizen or resident, whether you must file a federal income tax return depends upon your gross income, your filing status, your age, and whether you are a dependent. (Table 1, reference within, can be found at: http://www.irs.gov/formspubs/page/0,,id%3D11546,00.html.) full description	Who must file a federal income tax return? What is gross income? Do I have to file a federal income tax return if I am a US citizen or resident but I have been living outside of the US? Do dependents have to file federal income tax returns? I am a student attending college and working part-time. Do I have to file a tax return? How much does a student have to make before he or she has to file an income tax return? My daughter is my dependent and receives dividend income. Does she need to file a federal income tax return?
Individual Taxpayer Identification Number (ITIN) http://www.irs.gov/individuals/article/0,,id=96287 Source: Internal Revenue Service General information about the Individual Taxpayer Identification Number (ITIN). This number is a tax processing number and is issued to those who are unable to get a social security number. full description	What is an ITIN? What is an Individual Taxpayer Identification Number? What is the purpose of an Individual Taxpayer Identification Number? How do I know if I need an Individual Taxpayer Identification Number? What will happen to my return if a person listed as a dependent does not have a social security number or an Individual Taxpayer Identification Number? How do I apply for an Individual Taxpayer Identification Number? Are Individual Taxpayer Identification Numbers valid for work purposes? What are Acceptance Agents?
Capital Gains/Losses - Stock http://www.irs.gov/faqs/faq-kw203.html Source: Internal Revenue Service Answers to frequently asked questions regarding the treatment of the resulting gain, or loss, from the sale of stock. full description	I received stock as a gift from my grandparents. I am selling the stock this year. How can I figure the basis of the gifted stock? When I sell shares of stock in a company that merged with the company I originally invested in, do I use the basis and holding periods based on the purchase of shares in the original company? How do I figure the cost basis of stock that has split, giving me more of the same stock, so I can figure my capital gain (or loss) on the sale of the stock? When my stock split, the stock distributed to me was different than my original shares. How do I figure the basis of the shares of the two different kinds of stock? How do I calculate the cost basis of the shares that have split and are later sold from my employee stock purchase plan? Do I report the buying of stock? How do I prepare Schedule D for various stocks when records as to the original purchase price have been lost? How do I figure the cost basis when the stocks I'm selling were purchased at various times and at different prices? Can the cost averaging method be used for calculating the cost basis of stocks, or is it limited only to mutual fund shares? How do we show on our tax form where dividends are reinvested? How do I compute the basis for stock I sold, when I received the stock over several years through a dividend reinvestment plan? I know the basis of stock includes the cost of the original purchase, but does it also include the value of stock acquired through a dividend reinvestment plan? Do I have to pay taxes again on the stock acquired through a dividend reinvestment plan when I sell them? Would the shares acquired by stock dividends have a shorter holding period than the original shares purchased? Would shares in mutual fund acquired through dividend reinvestment in prior years be long-term capital gains while shares acquired through dividend reinvestment in the year of sale be treated as short-term capital gains? How do I report incentive stock options on my tax return? How do I report a nonstatutory stock option on my tax return? How do I report an employee stock purchase plan on my tax return? How do I determine the cost basis of stock bought through an employee stock purchase plan (ESPP)? I received an incentive stock option from my company, is this taxable? I purchased stock from my employer under an employee stock purchase plan. Now I have received a From 1099-B from selling it. How do I report this? Where on the tax return do I enter the compensation income I had from the sale of stock that I purchased under my employer's stock purchase program? Is the Internal Revenue Code limit of $25,000 per calendar year for stock bought through an employee stock purchase program (ESPP) based on the discounted purchase price or the higher stock value? Are incentive stock options subject to alternative minimum tax, and if so, how do I determine the basis for the stock? Can I take a long-term capital loss (up to the $3,000 limit) against my ordinary income without any long-term capital gain? Can I use a long-term capital loss carried over from a prior year to offset a short-term capital gain? Can I use a long-term capital loss to offset a short-term capital gain before using it to offset a long-term gain? Can short-term capital gains be offset with long-term capital losses? If a stock was sold short prior to the end of the year but was purchased in the next year to cover the short sale, when should it be included on Schedule D? Since the date acquired is after the date sold, how should I report a short sale on Schedule D? I held stocks substantially identical to the ones I sold short, but covered the short sale with different shares of that same stock that I purchased later. How does that affect the way I report the short sale? Should I advise IRS why amounts reported on Form 1099-B do not agree with my Schedule D for proceeds from short sales of stocks not closed by end of year that I did not include? How do I determine my gain or loss on the proceeds reported on Form 1099-B from a short sale entered into last year if I have not yet bought the stock to deliver back to my broker? How will the IRS know my stock split? Does the holding period for new shares I received as a result of a stock split start on the purchase date of the original stock or on the date of the stock split? I purchased stock through an employee stock purchase plan at my work which split three months later. Three months after that, I sold the stock at a gain. How does the split affect how I report the stock sale on my tax return? How do I calculate the sale of a stock that had a reverse split? Do I need to pay taxes on that portion of stock I gained as a result of a split? I buy and sell stocks as a day trader using an online brokerage firm. Can I treat this as a business and report my gains and losses on Schedule C? Is there any publication that explains the proper way to file a Schedule C as a day trader? I am a stock day trader. I understand I have the option of electing mark-to-market accounting which would eliminate the wash sale rule. What forms and publications do I need? I have expenses associated with my day trading business, but am unsure about how to report my gains and losses. How do I file as a day trader and how do I use the mark-to-market accounting method? I am a day trader. How do I go about paying tax on the gain as a business and not on Schedule D?
4.7 Interest/Dividends/Other Types of Income: Gifts & Inheritances- Is the money received from the sale of inherited property considered taxable income? http://www.irs.gov/faqs/faq4-7.html Source: Internal Revenue Service Answers to frequently asked questions regarding the consequences of receiving gifts or inheritances. full description	Are gifts, bequests or inheritances taxable? Is money received from the sale of inherited property considered taxable income?
Audit FAQ http://public.findlaw.com/taxation/nolo/faq/49A830 Source: Findlaw Answers to frequently asked questions regarding audits of tax returns by the Internal Revenue Service. full description	Can I challenge the result of an IRS audit? Can I appeal the result of an IRS audit? Is it likely that I'll owe additional taxes if I am audited? Should I file a tax return for the current year if I am undergoing an audit for past years? How can I speed up an audit? I have always deducted a certain expense that was denied in a recent audit - should I say anything about my previous returns? What can I do if I don't get along with my auditor? Do I have to let the IRS auditor into my home?
Tax Bill FAQ http://public.findlaw.com/taxation/nolo/faq/3B9B4E Source: Findlaw Answers to frequently asked questions about how to handle bills sent from the IRS. Note: You may need to enter your zip code to get to this page. full description	I have a tax bill that I cannot pay. What are my options? I made a mistake on my tax bill and am now being charged interest and penalties. Do I have to pay it all? Can the IRS take my home if I owe back taxes? Can the IRS charge me interest on a refund that I received but that I now know I was not entitled to?

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