Tax Memo – General Tax Questions Answered

These are the most common tax topics I am asked about.

Filing requirement, forms, due date

Amended return – Should I file one?
Deceased person – How do I file their tax return?
Federal tax return due date/extension – When is it due or am I eligible for an extension?
Filing requirement – Do I need to file a tax return?
Tax forms – Which one should I use?

Filing status and dependents

Dependent – Who can I claim?
Filing status – What’s mine?

Retirement: Pensions, IRAs, Social Security

Early distributions from IRA or other plans – Do I meet an exception to the additional tax?
Excess salary deferral to my 401(k) – How do I correct it?
Pension or annuity payment – Is mine taxable?
Rollover or transfer of IRA or other retirement plan – Do I have to report it on my tax return?
Roth distribution – Is it taxable?
Traditional, SEP or SIMPLE IRA distribution – Is it taxable?
Social Security or railroad retirement tier I benefits – Are mine taxable?

Other income

Estate executor or administrator fees – Are they taxable?
Gambling winnings/losses – How do I claim them?
Gift – Is it taxable?
Inheritance – Is mine taxable?
Jury duty payment – Is it taxable?
Life insurance proceeds – Are they taxable?
Prize or award – Is it taxable?
Residential rental income/expenses – Is it taxable and/or are my expenses deductible?
Scholarship, fellowship or education grant – Do I include it as income on my tax return?
Self-employment tax – Is my income subject to this tax?
Tips – Are they taxable?
Unemployment payments – Are they taxable?

Deductions

Charitable contributions – Can I deduct them?
Gambling winnings/losses – How do I claim them?
Medical and dental expenses – Can I deduct them?
Miscellaneous itemized deductions on Schedule A – Can I claim my expenses there?
Mortgage-related expenses – Can I deduct them?
Moving expenses – Can I deduct them?
Personal taxes – Can I deduct those that I pay as an itemized deduction on Schedule A?
Standard deduction – How much is mine?
Student loan interest – Can I claim a deduction for it?
Work-related education expenses – Are they deductible?

Credits

Adoption credit/employer-provided benefits – Am I eligible for this credit or to exclude these benefits?
Child and dependent care credit – Am I eligible to claim it?
Child tax credit or the credit for other dependents – Does my child/dependent qualify?
Credit for the elderly or disabled – Do I qualify?
Education credit – Am I eligible to claim it?
First-time homebuyer credit – Do I need to repay it?
Foreign tax credit – Am I eligible to claim it?
Premium tax credit – Am I eligible to claim it?
Retirement savings contributions credit – Do I qualify?

International

Disposition of U.S. property interest by a nonresident alien – Is federal income tax withholding required?
Foreign earned income – Can I exclude it?
Foreign tax credit – Am I eligible to claim it?
Gambling as a nonresident alien – Are my winnings exempt from federal income tax?
ITIN (individual taxpayer identification number) – Am I eligible to apply?
Married to a nonresident alien – What is my filing status?
Nonresident alien U.S filing requirement – Am I required to file?
Resident or nonresident alien leaving the U.S. – Am I required to obtain a departure permit?

Other topics

Estimated tax payments – Am I required to make these payments?
Foreclosure, repossession, abandonment, loan modification or short sale – How do I report mortgage debt forgiveness?
Heavy highway vehicle use tax – Do I need to pay it?
Injured spouse refund – Do I qualify for this relief?
ITIN (individual taxpayer identification number) – Am I eligible to apply?
Wages – Are mine exempt from federal income tax withholding?