Income Archives - Page 16 of 21 - FREE Yourself from IRS Problems

Shamsey Oloko February 26, 2016 Business Expense, Business Expenses, Deductions, Income, Qualified Expenses 0

If I convert a home to a rental, when can I deduct any losses related thereto?

Issue If a taxpayer converts a home to a rental, when can the taxpayer deduct any losses related thereto? Related Tax Rules or Regulations Internal Revenue Code Section 262, which provides that except as otherwise expressly provided, no deduction is allowed…

Shamsey Oloko February 23, 2016 Civil Liabilities, Debt Cancellation, Deductions, Income, Taxable Income 0

Relating to the allocation of partnership liabilities and the tax implication of a foreclosure

Issue What is the allocation of partnership liabilities and the tax implication of a foreclosure? Related Tax Rule or Regulation Internal Revenue Code Section 465 Internal Revenue Code Section 704 Internal Revenue Code Section 731 Internal Revenue Code Section 752…

Shamsey Oloko February 19, 2016 Income, News, Physical Injury 0

Do The Monies Or Amounts Received By An Egg Donor In Exchange For Her Eggs Constitute Taxable Income?

Issue Do the monies or amounts received by an egg donor in exchange for her eggs constitute taxable income? Related Tax Rules or Regulations Internal Revenue Code Section 61 provides that gross income includes all income from whatever sources derived, including…