Tax Preparation

More in Tax Preparation

K-1 Forms and Cost-Basis Calculations

You can invest in units of publicly traded limited partnerships -- often called master limited partnerships, or MLPs -- using a brokerage account just as you would to buy shares of a corporation. The differences between MLP investments and stock shares show up at tax time. The ...

If I Didn't File My Taxes Will I Get My Child Tax Benefits?

The IRS allows a wide variety of deductions, exemptions and credits for dependent children. The rules are designed to defray the cost of basic living expenses, education and medical treatment. However, there are conditions attached to these tax benefits, with one of the most ...

How to Report Accrued Interest on a Tax Return

When you own investments that pay interest, the company that holds your financial accounts reports earnings of $10 or more to you and to the IRS on Form 1099-INT. To the IRS, accrued interest is the earnings a bond pays to the seller, but which is reported to the buyer in boxes ...

IRS Mileage Log Requirements

The Internal Revenue Service allows you to deduct expenses you incur while conducting business, including any vehicle expenses you run up. Because fraud is common in vehicle expense claims, the IRS wants to be sure all expenses claimed are legitimate and honest. To help with ...

Covered vs. Noncovered Stock Transactions

A broker must report to you and the Internal Revenue Service all taxable sales of stock for the year, so that the IRS can assess capital gains taxes. Brokers report this information on IRS Form 1099-B, Proceeds From Broker and Barter Exchange Transactions. If the stock is ...

Tax Preparation Checklist for a Homeowner

Home ownership carries many hidden costs. Fortunately, some of these costs can be used to substantially lighten your IRS tax burden. To maximize your tax benefits you must keep careful records, and you must understand how the tax code applies to homeowners. You must itemize your ...

How to Report Dividends From a Partnership Stock on a Tax Return

A partnership is an association of two or more people that pursues some business or financial operation and divides profits among its members. Partnerships are different from C corporations, in that they do not pay taxes. Rather, partners pay the partnership's taxes on their ...

How to File Taxes Without Child's Social Security Number

If you're eligible to claim a child as a dependent on your taxes, you're going to need their Social Security number, or SSN, in order to take advantage of the tax benefits available to parents. Filing your taxes without your child's SSN won't change how you prepare the return, ...

IRS Requirements for Receipts

Claiming deductions for things like charitable donations, business expenses, childcare or tuition payments can lower your tax bill and potentially result in a larger refund. If you plan to claim these or other deductions, you'll need to be able to verify your expenses if the ...

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