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Can I Claim Home Office Deduction For Square Footage Occupied By Top Shelf Of A Bookcase If That Is Only Space In Home That Is Exclusively...
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

The home office deduction is for square footage of floor space. The shelving is not a part of the house, so you cannot take a home office deduction based on the information you have provided.   Read More
User Photo Mary Beth Lougen EA USTCP
Tax Professional Level: Tax Enthusiast

The line 15f instruction means is that you cannot reduce or offset 1291 gains with 1291 losses, and that there is no mechanism in the PFIC regulations to deal with a loss on the sale of 1291 shares. Proposed...   Read More
User Photo Mary Beth Lougen EA USTCP
Tax Professional Level: Tax Enthusiast

The calculations to determine the correct Form 8621 Line 15b are often overlooked for two reasons. First, there is no clear explanation of what is needed and second, the number needs to be adjusted any time there...   Read More
User Photo John Dundon, II EA
Tax Professional Level: Tax Wizard

Call the IRS and instruct them verbally to apply the credit balance in the tax year that has a credit balance to the tax year that has the assessment.   Read More
User Photo Mary Beth Lougen EA USTCP
Tax Professional Level: Tax Enthusiast

The short answer is no. Foreign mutual fund holdings and ETFs have different reporting requirements than similar U.S. funds and must be reported on Form 8621. Although there is no monetary penalty at this time...   Read More
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

It is too late to make a correction once the return has been accepted or mailed. It will be an inconvenience, but you shouldn't have anything to worry about. If the number given is invalid then the IRS will simply...   Read More
User Photo Gerald Nordland
Tax Professional Level: Tax Enthusiast

The IRS will make ONE attempt to directly deposit your refund. If you’re lucky, no one at that bank will have that account number, the bank will reject the deposit and the IRS will send a check to your address....   Read More


Meet Leading Tax Advisors

User Photo Kathryn Morgan

Bossier City, Louisiana, USA

Enrolled Agent, Master Tax Advisor

User Photo Peter J. Scalise

New York, New York, USA

Federal Tax Credits & Incentives Practice Leader

User Photo John Stancil

Lakeland, Florida, USA

Tax Advisor/CEO

User Photo John Dundon, II EA

Denver, Colorado, USA

Tax Director

User Photo Steven Potts JD EA IAR

Fullerton, California, USA

Principal

User Photo Devon McCarthy FCCA, EA

Sanford, Florida, USA

President

User Photo Caran Ebert, CPA

Topanga, California, USA

Tax Advisor

User Photo Lisa Nason CPA, MST

Greenville, South Carolina, USA

Managing Shareholder

User Photo Randy Tarpey

Tyrone , Pennsylvania, USA

Owner

User Photo NEERAJ BHATIA, CPA

Santa Clara, California, USA

Tax Principal - President

User Photo Bill Robinson, CPA

Chattanooga, Tennessee, USA

Owner

User Photo Hugo Van Zyl

Stellenbosch, South Africa

Exchange Control & Master Tax Practitioner (SA)

User Photo Douglas Stransky

Boston, Massachusetts, USA

Tax Partner, International Tax

User Photo Larry Stolberg, CPA, CA

Toronto Mississauga Oakville Burlington Hamilton, Canada

Tax Specialist

User Photo Dr. Daniel Erasmus

West Palm Beach, Florida, USA

Managing Partner/EMEA

User Photo Jorge Otoya

Cleveland, Ohio, USA

President

User Photo Kat Jennings CEO

La Jolla, California, USA

Founder/TaxConnections CEO

User Photo Cecilia Scutaru Andor

Charleroi , USA

Tax Preparer / Notary / Signing Agent

User Photo Mary Beth Lougen EA USTCP

Virginia, USA

President and Founder

User Photo Darren Sanford

Memphis, Tennessee, USA

CPA

User Photo Dan Gordon

BANGKOK, Thailand

Owner

User Photo Barry Fowler

Houston, Texas, USA

President

User Photo Kelly Estep

Vancouver, Washington, USA

Owner

User Photo James Sutton, CPA, Esq

Tampa, Florida, USA

Florida Sales Tax Attorney

User Photo Bernice Brightbill

Los Angeles, California, USA

singer

User Photo JEANIE PITNER

Battle Ground, Washington, USA

Owner

User Photo David Gadberry

Houston, Texas, USA

Tax manager

User Photo Howard Liebman

Brussels, Belgium

Partner

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