Archived
How can I obtain the 1099-INT from my spouse? I pay the mortgage but the account is in his name. We're separated and file sep.
Darin's answer
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Answered on September 08, 2010
You are actually after a Form 1098. A 1099-INT will show interest income not the interest you paid on your mortgage. A 1098 will show the interest...
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Archived
I own a Tattoo Studio and a Home Maintenance Company in Wiggins, Ms. and I have loss atleast 40 % business loss in Tourism
Darin's answer
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Answered on July 07, 2010
Sure. Make sure you retain your records for at lease 6 years to support the loss in the event the IRS challenges you. Also, the loss automatically...
Archived
We live in WA State where there is no state income tax, but have a rental property in California. Do I have to pay CA state tax
Darin's answer
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Answered on July 07, 2010
If the rental property is producing taxable income you will need to pay CA state income tax. However, if it is producing a loss then there would be...
Archived
Can I amend my income taxes for a now worthless unsecured promissory note?
Darin's answer
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Answered on July 07, 2010
Actually, under the scenario you've described it appears you may be able to file an amended return. Section 6511(d) provides a 7 year period of...
Archived
Does statue of limitation apply to tax?
Darin's answer
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Answered on July 07, 2010
Without seeing the letter from the IIRS and knowing exactly what the issues are it is a little hard to tell. It is odd that the IRS is contacting...
IRS Audit and CPA responsibility
Darin's answer
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Answered on July 06, 2010
You will need to check the engagement letter, if any, that you signed with your CPA for the year of the tax return that is being audited. This...
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