TAXBILLY

Actually Amy's birthday is the 29th but since there is none this year let's celebrate it today. taxbilly

May you have many more! taxbilly

May you have many more! taxbilly

Correct. taxbilly

I'm confused. First you say it's a sale and then you say there is no 1099-B. Confirmation of exercise does not mean "sale". It simply means just that. If you don't have a 1099-B then the client still has the stock. You need to find that out from the client. If and when he does sell the stock the client will get a 1099-B and his cost will be this code v amount. taxbilly

Question 5: My link taxbilly

The cite: IRC §36©(3)(A)(ii)(II) taxbilly

This is new uncharted ground so it is not too clear. The part about buying from siblings is correct. Your siblings are not your lineal descendants per IRC Sec.36. The problem lies with the inherited part. If your client did not inherit any part of the house she would be home free but I don't believe she can qualify because she did inherit a portion of the house. I think that might disqualify her but it is only my opinion after reading discussions about his on the taxalmanac forum. taxbilly

Wonder what happened to Mel. He hasn't visited here since last April. taxbilly

Just talked to a friend of mine in Hawaii and she says it looks liked they dodged a bullet. The waves expected will not be as high as they first predicted but most of the coastal areas were evacuated as a precaution. taxbilly

I usually take a break on Fridays and play golf in the morning. However it is now 41 and it's supposed to be 36 at 7AM so I think I'll sleep in. taxbilly

And tomorrow you'll be confused, befuddled and pleasantly perplexed, perhaps. taxbilly

What is the purpose of doing this complicated maneuver? taxbilly

May you have many more! taxbilly

You're welcome. taxbilly

Pub 502 under Special Education. taxbilly

Hmmm. It seems strange that a business would have an unlisted phone number, the 888 one, and a secondary number as a cell phone number, the 615 one. I can find no physical address for this business either. Hmmm. taxbilly

You're welcome. taxbilly

The girls are cuties. Obviously they get their good looks from their mom. :~) taxbilly

Repayment starts with the 2010 return: http://www.irs.gov/taxtopics/tc611.html taxbilly

A Schedule A deductible medical insurance premium would be one that covers the taxpayers and dependents. PIP also covers, as j says, everyone in the vehicle, and so that would make it non-deductible since it is not separately stated as to how much the premium is for others. See page ten of Pub 502. taxbilly

If this is how they handle potential customers then I would be very wary. taxbilly

Looks like that's the way to go. taxbilly

I would have suggested Sir j. taxbilly

You are correct, Gail. taxbilly