Recent content by mwtgg

  1. M

    2013 Annual Anandtech Tax Time Thread!

    They are deducted on Line 13 of Schedule A, but do phase out for AGI's over $100k. Don't forget to pick up any real estate taxes and interest paid at settlement. These two items usually don't appear on your 1098. Also, if you paid any points (based on a percentage of the loan amount), those are...
  2. M

    2013 Annual Anandtech Tax Time Thread!

    Got my refund deposited today. My return was accepted January 29th.
  3. M

    2013 Annual Anandtech Tax Time Thread!

    Define "repair". Did the work done correct a material defect or result in an increase to the value of the property? Or did the work performed merely keep the property in working order without resulting in a permanent betterment? If you have to capitalize it, it would be over straight-line over...
  4. M

    2013 Annual Anandtech Tax Time Thread!

    The rollover should be a non-taxable event. I'm assuming the 401k administrator didn't mail the check to you in your name and then you send the funds to the IRA administrator, right? If not, I would call and ask them about it.
  5. M

    2013 Annual Anandtech Tax Time Thread!

    Report both so they show up properly on lines 15 & 16. You're right that the rollover isn't taxable, though.
  6. M

    2013 Annual Anandtech Tax Time Thread!

    Since you paid 100% of the premium with post-tax funds, then yes, the STD payments are non-taxable.
  7. M

    2013 Annual Anandtech Tax Time Thread!

    The need for a 1041 (with a K-1 going to his mom) became more clear when Linflas explained it further. Although, unless I'm missing something, a Form 1040 for 2013 for his brother doesn't need to be filed (nor would a 1310).
  8. M

    2013 Annual Anandtech Tax Time Thread!

    If the decedent's estate didn't have gross income in excess of $600, then there is no estate return necessary. I'm kind of confused by the original question though. Did the decedent in question have any taxable income in 2013?
  9. M

    2013 Annual Anandtech Tax Time Thread!

    Ah, didn't even notice your location. Sounds like you'll be taking the standard deduction. Also, MIP is only deductible for this year anyway, unless Congress extends it again.
  10. M

    2013 Annual Anandtech Tax Time Thread!

    I'm no expert when it comes to every state's property taxes, but at least in PA we have city & county taxes (run calendar year) due in April and school taxes (run June 30 fiscal year end) due in August. I would think in almost every case there would be some taxes refunded to the seller for the...
  11. M

    2013 Annual Anandtech Tax Time Thread!

    You didn't pay any taxes at settlement? There weren't any real estate taxes reimbursed to the seller and charged to you? In any case, if you use software it will do the analysis for you. Just keep in mind, there are other things that go on Schedule A, like any state or local income taxes paid...
  12. M

    2013 Annual Anandtech Tax Time Thread!

    Personal losses aren't deductible, so unless you received a 1099-S from the transaction, no you don't have to do anything on your return.
  13. M

    2013 Annual Anandtech Tax Time Thread!

    Generally, a cancelled check or bank statement would be sufficient in this instance, but to be safe the national pharmacies will provide a tax statement if requested. If you use a local pharmacy, I'm not sure but it can't hurt to ask.
  14. M

    2013 Annual Anandtech Tax Time Thread!

    Student loan interest is deductible the lesser of actual interest paid or $2,500. For a taxpayer filing single, it is fully deductible up to $60k and fully phases out at $75k. For MFJ, it is up to $125k and fully phases out at $155k.
  15. M

    2013 Annual Anandtech Tax Time Thread!

    I don't understand why the IRS won't allow 1096/1099/etc to be printed off their website. Or even produce a software which allows for it to be uploaded directly to them for free. It just makes for a complicated system with all of these middlemen. Don't even get me started on the payroll...