Q&A
Asked by an anonymous user

Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Hi anonymous, A self-directed IRA has the same rules as a traditional IRA. If you are a licensed real estate agent or are you eligible for a management fee? You can...
Investing & Retiring Taxes IRA
Q&A
Asked by jerry

Answered by Michael Bull
Mortgage Professional in Plano, TX
You will receive a 1099. You also should keep your award letter.
Social Security Tax Returns Investing & Retiring Taxes
Q&A
Asked by bonnie.myers

Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Bonnie, Restrictions apply. So check with your tax advisor and be sure you have the written certification from the manufacturer that their product qualifies for...
Tax Returns Taxes Federal Income Taxes
Q&A
Asked by an anonymous user

Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Anonymously, Are you a real estate professional? Also discuss this with your tax advisor. You may deduct your suspended passive losses from the profit you ea...
Taxes Tax Laws
Q&A
Asked by Lee Muth

Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Lee, Refinancing your home to get the tax exemption instead of just selling it for a higher profit may not give you more profit. Why not just sell it for a lower...
Taxes Tax Laws
Q&A
Asked by jennifer

Answered by IntroLend Writing Staff
Financial Adviser in Los Angeles, CA
You can find a tax professional in your area here.
Taxes
Q&A
Asked by an anonymous user

Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
In box #7 on the 1099R, what is the code? Should be G or H. If not, contact your broker https://www.irs.gov/instructions/i1099 r/ar02.html#d0e1685 https://www.ir...
Taxes IRA
Q&A
Asked by an anonymous user

Answered by Saul Simon
Financial Planner in Edison, NJ
No you cannot, a Roth is not deductible
Taxes IRA Federal Income Taxes
Q&A
Asked by beverlycrousept

Answered by David Moore
Financial Adviser in Brooklyn, NY
YES. Generally speaking, all income needs to be reported for tax purposes. This includes rent money, even if the expenses of owning the home are greater then the ren...
Taxes Federal Income Taxes
Q&A
Asked by Dave

Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Dave. Interesting question. We recently attended a solar forum about this. This is what we learned from the forum: The IRS has not issued guidance on how long...
Taxes Federal Income Taxes
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