HDTenEightyP/NetNews huggingface dataset:
From: Dave Dodson <dodson@convex.COM>
Subject: Re: Other deduction for new house?
Originator: dodson@bach.convex.com
Date: Thu, 7 Jan 1993 17:10:03 GMT
Reply-To: dodson@convex.COM (Dave Dodson)
Organization: Engineering, CONVEX Computer Corp., Richardson, Tx., USA
X-Disclaimer: This message was written by a user at CONVEX Computer
              Corp. The opinions expressed are those of the user and
              not necessarily those of CONVEX.

In article <1ih8m3INNhf@cronkite.Central.Sun.COM> dbernard@clesun.Central.Sun.COM writes:
>I moved into a new house I had built a few months ago.  When my wife bumped the
>side of the garage with her car, the repairman said I could deduct from my
>income tax the portion of the damage bill that my insurance company didn't pay.
>True?

Yes.  This would be a casualty loss, deductible as a miscellaneous deduction
if you itemize, but subject to a deductible of $100 (if I remember correctly).
Miscellaneous deductions themselves are deductible only to the extent that
they exceed 2% of your AGI.  If the accident was just a 'bump,' I doubt if
your unreimbursed cost will be enough to qualify.  See Form 1040 Schedule A
for details.

>Also, the real estate salesperson said that the cost of capital improvements (ie, things attached to the house) were also deductable- like putting in new light
>fixtures, or attaching permanent window coverings.  Is this also true?

Not exactly.  Improvements add to the basis of your house.  They decrease your
capital gain (if any) when you sell.  Until then, they do not affect your
taxes, but hopefully will improve your enjoyment of your house.

----------------------------------------------------------------------

Dave Dodson		                             dodson@convex.COM
Convex Computer Corporation      Richardson, Texas      (214) 497-4234
Newsgroups: misc.taxes
From: bhjelle@carina.unm.edu ()
Subject: Turbotax, TaxCut
Date: Fri, 08 Jan 93 18:53:43 GMT
Organization: University of New Mexico, Albuquerque
Distribution: usa

Last year I was bothered by the new Turbotax which produced
ugly, unreal-looking schedules (1040 was OK), simply because
the IRS ruled that it would accept same.

I wasn't too bothered that the forms were ugly but they
didn't even bother to arrange that they print out on
a single page, or start the text anywhere near the top
of the page.

I'm presuming that Turbotax will do the same thing again
this year, since it is cheaper to do so.

The questions I have are (1) has anyone looked at Turbotax
this year, and can confirm that they are are doing the
same thing?
(2) Is TaxCut any better?

Thanks in advance!

Brian
From: obrien@hri.com (Jim Obrien)
Newsgroups: misc.taxes
Subject: CONSULTING and TAXES
Date: 11 Jan 93 21:11:03 GMT
Reply-To: obrien@bigbird.hri.com
Organization: Horizon Research, Inc.

During the summer I was consulting part
time for a few nights at small computer
comany. This is the first time I have done
part time work this way. Now that its tax time
I'm not sure what to do. It looks like I should
file a Schedule SE form, but is this the only way?
If so, I think I will ask my part time employer to
pay me as a part time emplyee from now on.

Newsgroups: misc.taxes,misc.invest
From: acheng@ncsa.uiuc.edu (Albert Cheng)
Subject: Re: tax on tax refund
Originator: acheng@shalom.ncsa.uiuc.edu
Organization: Nat'l Ctr for Supercomp App (NCSA) @ University of Illinois
Date: Mon, 11 Jan 1993 16:39:10 GMT


In article <1iqr7lINNkgd@usenet.INS.CWRU.Edu>, jxs18@po.CWRU.Edu (Jerry Sy) writes:
>
>when I receive a tax refund, it is going to be taxable the following
>year.  my question is, if I opt not to receive the refund and carry
>it over to next year, would I still be taxed for that ? would I be
>better off if I do that ? assuming that I receive $600 in federal and
>state tax refunds ?

Two cases:
Fed tax refund--the amount is withheld from your taxable income which
you have paid tax for.  You are getting a refund for excessively tax
withheld.  You DO NOT need to pay income tax for it any more.  But,
if you get some interest out of it, you need to report the interest
part next year.

State tax refund--Similar to federal tax; but if you itemize, you would
have excluded the amount of the state tax refund from fed. tax calculation.
You need to pay tax for the refunded amount next year.  (The 1040
explains this.)  Again, if you get interest on the refund, you have
to report it next year.
Newsgroups: misc.taxes
From: mguyott@eriador.prime.com (M. Guyott)
Subject: Re: Can medical insurance be treated as a medical expense?
Followup-To: misc.taxes
Organization: /etc/organization
Date: Wed, 6 Jan 1993 18:41:34 GMT

In article <5JAN199308523624@mars.lerc.nasa.gov> ioguo@mars.lerc.nasa.gov (OA Guo) writes:
>In article <1993Jan4.133539.1395@nova.sarnoff.com>, jms@vision.sarnoff.com writes...
>>I think you can have this deducted from your paycheck BEFORE taxes.
>
>	NOT!!! Bad assumption.

Actually, it depends on the employer.  My employer does deduct my health
insurance costs before taxes are calculated.  It has something to do with
the "section 125 cafateria plan" (?) that my employer uses (is part of?).

Anyway, the bottom line is that I pay my part of my health insurance with
pre-tax dollars.

(And, of course, can not claim the money I spend as an income tax deduction.)

Marc
----
Two of the worst things we teach our children are that a knowledge of science
is nice but not necessary, and a knowledge of sex is necessary but not nice.

Marc Guyott              Constellation Software, Inc.          (508) 620-2800
                         Framingham, Mass. 01701 USA                Ext. 3135
mguyott@primerd.prime.com       ...!{uunet, decwrl}!primerd.prime.com!mguyott
mguyott@eriador.prime.com       ...!{uunet, decwrl}!eriador.prime.com!mguyott
Newsgroups: misc.taxes
From: schemers@leland.Stanford.EDU (Roland Schemers)
Subject: TurboTax???
Summary: TurboTax or a human?
Organization: Distributed Computing Group, Stanford University
Date: Tue, 12 Jan 93 00:55:51 GMT

I moved out to California last Feb. Both me and my wife have a job. We are
renting a house. We brought two cars into CA. Stanford payed
a couple of grand for moving (I moved from Michigan). Should I get
a tax consultant, or would TurboTax work ok? I figure with all the
stuff that happened in the last year I'll be up a creek if I try
and do it myself :-)

thanks

Roland




-- 
Roland J. Schemers III              |            Networking Systems
Systems Programmer                  |            G16 Redwood Hall (415)-723-6740
Distributed Computing Group         |            Stanford, CA 94305-4122
Stanford University                 |            schemers@Slapshot.Stanford.EDU
Newsgroups: misc.taxes
Subject: Re: Federal property taxes?
From: gary@cdthq.UUCP (Gary Heston)
Date: Mon, 11 Jan 93 14:56:24 CST
Organization: Garys' Home for Obsolete Computers

al037@cleveland.Freenet.Edu (Dave Polewka) writes:

> A recent CNN "factoid" said that the U.S. Government 
> owns 60% of the land in Wyoming.
> Does the U.S. pay local property taxes?

No. State and local government cannot tax the Federal government.
Same situation with military bases, NASA facilities, and so on.

Gary Heston, at home....
gary@cdthq.uucp
Newsgroups: misc.taxes,misc.invest
From: rjungcla@cbnewsd.cb.att.com (R. M. Jungclas)
Subject: Re: tax on tax refund
Organization: AT&T Bell Labs - Naperville, IL.
Distribution: usa
Date: Mon, 11 Jan 1993 21:11:00 GMT

In article <C0p7LC.Bpt@news.cso.uiuc.edu> acheng@ncsa.uiuc.edu (Albert Cheng) writes:
>
>In article <1iqr7lINNkgd@usenet.INS.CWRU.Edu>, jxs18@po.CWRU.Edu (Jerry Sy) writes:
>>
>>when I receive a tax refund, it is going to be taxable the following
>>year.  my question is, if I opt not to receive the refund and carry
>>it over to next year, would I still be taxed for that ? would I be
>>better off if I do that ? assuming that I receive $600 in federal and
>>state tax refunds ?
>
>Two cases:
>Fed tax refund--the amount is withheld from your taxable income which
>you have paid tax for.  You are getting a refund for excessively tax
>withheld.  You DO NOT need to pay income tax for it any more.  But,
>if you get some interest out of it, you need to report the interest
>part next year.

>State tax refund--Similar to federal tax; but if you itemize, you would
>have excluded the amount of the state tax refund from fed. tax calculation.
>You need to pay tax for the refunded amount next year.  (The 1040
>explains this.)  Again, if you get interest on the refund, you have
>to report it next year.

Not quite true. If you did NOT ITEMIZE your taxes for 1991, then you 
do NOT have to include your 1991 state and local tax refund in your 1992 
return.  However, if you itemized your 1991 return, then because on 1991 
schedule A you included ALL of state and local taxes withheld (NOT TAXES DUE)
then on your 1992 return you need to list any 1991 state and local tax refunds
on your 1040 form.  (see line 5 instuction and WARNINGS 1992 schedule A and 
line 10 instructions for 1992 1040)

Essentially for the year that you are itemizing, you are using the total of
amount of state and local taxes WITHHELD (and not DUE). The amount of refund
is the amount WITHHELD minus the amount of taxes DUE. Consequently, if you 
receive a state or local refund for the itemized year, the refund amounts
included in schedule A amounts resulted in a tax benefit.

R. Michael Jungclas                    UUCP:      att!ihlpb!rjungcla 
AT&T Bell Labs - Naperville, IL.       Internet:  rjungcla@ihlpb.att.com
From: Nancy Hultquist - Central WA Univ <NANCYH%CWU.BITNET@SHSU.edu>
Newsgroups: misc.taxes
Subject: Am-Tax available by FTP ?
Date: Wed, 6 Jan 1993 10:17 PST
Organization: Fedtax-L<==>Misc.Taxes Gateway
X-Gateway-Source-Info: Mailing List


Last year Am-Tax was available by FTP in a shorter public domain
version -- pay more for different version and documentation.
Is this available this year, and if so, where?  Thanks.  Please
respond to the list as I am sure others would like to know.  It is
an excellent program I have used for years.
From: Steve Olsen <SRO@arlan.byu.edu>
Newsgroups: misc.taxes
Subject: Re: Federal property taxes?
Date: Mon, 11 Jan 1993 08:47:58 -0600 (MDT)
Organization: Fedtax-L<==>Misc.Taxes Gateway
X-Gateway-Source-Info: Mailing List

> From:          al037@cleveland.Freenet.Edu (Dave Polewka)
> Organization:  Case Western Reserve University, Cleveland, OH (USA)

> A recent CNN "factoid" said that the U.S. Government
> owns 60% of the land in Wyoming.
> Does the U.S. pay local property taxes?
> --
> =======================
> "Endeavor to persevere"
> =======================
The U. S. does not pay local property taxes, but in certain instances
makes "payment in lieu of taxes" (PILT) to local government entities to
help cover the costs of providing governmental services (education, public
safety, etc.) in areas impacted by military installations, for example.

The U. S. also owns most of the land in Nevada and Utah.

Steve Olsen
From: hilary.miller@execnet.com (hilary miller)
Newsgroups: misc.taxes
Subject: stock losses
Date: 10 Jan 93 18:56:33 GMT
Reply-To: "hilary miller" <hilary.miller@execnet.com>
Distribution: misc
Organization: Executive Networks Information


Vince Grove, in a message to All on 01-09-93 at 5:35pm, said:

VG>|I sold stock this past year at a loss. Can I deduct that loss from my
   |taxes even if I don't have any gains to offset it against.
   |_____________________________________________________________________

          Your loss is a capital loss, and to the extent that you do
          not have offsetting capital gains, you are entitled to deduct
          only $3,000 against ordinary income.  You may carry over the
          usused losses to future years and deduct $3,000 in each
          future year until you have used up the carryover in full.


   L A
 I    R        Hilary B. Miller of Greenwich, Connecticut
  H/\Y         CIS: 76040,1743
   s r
---
 ~ DeLuxe}/386 1.25 #11645 ~ Nietzche is pietzche, but Sartre is smartre.
--
Executive Network Information System  (914) 667-4567
International ILink Host
Newsgroups: misc.taxes
From: seg3e@holmes.acc.Virginia.EDU (Susan E. Gants)
Subject: Grad Student - Employee Expense
Originator: seg3e@holmes.acc.Virginia.EDU
Organization: University of Virginia
Distribution: usa
Date: Thu, 7 Jan 1993 15:19:22 GMT

My husband is a doctoral candidate at UVa. He is also an "employee" in
that he teaches, as a TA, part of the year.  He also receives some
fellowship monies from his department to supplement his TA pay, and
from the library for a separate part-time job.	

A lady in a similar position in New York (whose husband is a faculty
member) claims that she can deduct the cost of traveling, etc. for
conferences she attends.  She couldn't provide us with any details as
their CPA does the paperwork.  The only category I could find in my
1040 instructions, schedule A, was for employee related expenses.

My question then:  can she be considered an employee of her university
and deduct these items, even though she is a student?  I don't know if
she is full-time and a TA or part-time and separately an instructor -
that thought just occurred and I will try to find that out.

Any suggestions would be greatly appreciated, as my husband's an
English major and is likely to attend several conferences over the
next few years - not to mention the books and specialized equipment he
would like to get.  (He's a bibliographer - someone who studies the
physical aspects of books, and how they're printed, etc.)

Thanks!

-- 
--------------------------------------------------------
Susan E. Gants   Academic Computing   Univ. of Virginia
(804) 924-0620   internet  seg3e@virginia.edu
                   bitnet  seg3e@virginia
Newsgroups: misc.taxes
From: millios@cbnewsf.cb.att.com (william.l.millios)
Subject: Re: Other deduction for new house?
Organization: AT&T
Date: Tue, 12 Jan 1993 20:14:37 GMT

In article <1993Jan7.171003.2485@news.eng.convex.com> dodson@convex.COM (Dave Dodson) writes:
>In article <1ih8m3INNhf@cronkite.Central.Sun.COM> dbernard@clesun.Central.Sun.COM writes:
>>Also, the real estate salesperson said that the cost of capital improvements
>>(ie, things attached to the house) were also deductable- like putting in 
>>new light fixtures, or attaching permanent window coverings.  Is this also 
>>true?
>
>Not exactly.  Improvements add to the basis of your house.  They decrease your
>capital gain (if any) when you sell.  Until then, they do not affect your
>taxes, but hopefully will improve your enjoyment of your house.

Ok, what about a situation like this:

I have my house built; because I'm a handy type of fellow, I only 
have the professional people come in and do foundation, shell, windows,
roof, plumbing, and electrical work.

I do everything else (drywall, painting, trim carpentry, carpeting,
kitchen cabinets, bathroom fixtures, etc.) myself.

I know that this:
a) reduces my mortgage (since I only need a loan to cover what the
   professionals do)
b) takes longer to do the house (hence need better wife relations)

Are the things that I do considered "improvements", and hence
subtractable from the capital gain when I sell?  Suppose I then
buy a new house, using the proceeds from the first one?

Can I deduct expenses on the house, since they're kind of necessary
to make the house livable?

[This is a serious question.  I am considering doing just this, and
am wondering if it is more realistic to get a loan to cover the
cost of the purchases for the work that I do, separate from the 
mortgage for what the professionals do.  Then again, should I
just make a massive mortgage for everything?  Hmm.]

Bill
From: schmidt@LNS62.TN.CORNELL.EDU
Newsgroups: misc.taxes
Subject: Tax Programs
Date: 10 Jan 1993 02:44:06 GMT
Organization: Wilson Lab, Cornell U., Ithaca, NY, 14853
Reply-To: schmidt@LNS62.TN.CORNELL.EDU
NNTP-Posting-Host: lns62.tn.cornell.edu


THAT time of year is approaching again, and my mailbox is already
filling up with solicitations to buy tax preparation programs. A
couple of years ago when I looked at Parsons' PERSONAL TAX EDGE
I was not impressed.  Has anyone examined this year's offering and
care to share their opinion? (the $19 price is certainly intriguing)

-js
From: tar@ISI.EDU (Thomas A. Russ)
Newsgroups: misc.taxes
Subject: Re: Uniform Deduction???
Date: 5 Jan 93 18:26:53 GMT
Reply-To: tar@isi.edu
Organization: USC-ISI
In-reply-to: kmill@rchland.vnet.ibm.com's message of 5 Jan 93 15:47:16 GMT


The test is whether the "uniform" could be reasonably worn somewhere
other than at work.

Greasy coveralls with "Al's Garage" on them clearly qualify.
Business suits (to work at IBM?) clearly don't qualify.

Most others are in-between.  It's a judgement call on some of them.

--

Thomas A. Russ                                             tar@isi.edu    
USC/ISI, 4676 Admiralty Way, Marina del Rey, CA 90292      (310) 822-1511
From: bdtyler3%budget%ALBNYDH2.BITNET@SHSU.edu
Newsgroups: misc.taxes
Subject: Tax on tax refund
Date: 11 JAN 93 11:48:41 EST
Organization: Fedtax-L<==>Misc.Taxes Gateway
X-Gateway-Source-Info: Mailing List

Hello FedTax-L'ers

Jerry asks:
>when I receive a tax refund, it is going to be taxable the following
>year.  my question is, if I opt not to receive the refund and carry
>it over to next year, would I still be taxed for that ? would I be
>better off if I do that ? assuming that I receive $600 in federal and
>state tax refunds ?

My 2 cents:

Two kinds of refunds:

   A Federal tax refund of a prior year will not be taxable in the
   subsequent year.  You have determined your tax liability for that
   year, summed your withholdings, est.payments, etc. and found that
   payments exceeded the liability.  IRS has graciously returned the
   excess as YOUR refund.

   A state tax refund of a prior year may or may not be taxable on the
   subsequent tax year's Federal return.  It depends upon whether you
   used your prior year's state taxes withheld, paid, etc. as one of
   the components of the taxes paid on Federal schedule A for the prior
   year.

   The logic is this:  You deducted your total 1991 state taxes paid on
   the 1991 Federal tax return as an itemized deduction.  This benefitted
   you by reducing your 1991 Federal tax liability.  Now, if you received
   a 1991 state tax refund (in 1992) you really did not pay the 'total'
   amount previously stated on 1991 Federal schedule A.  So for the 1992
   Federal tax return you get to add the 1991 state tax refund in as
   income to 'make things right'.  It's all an accounting 'netting out
   of things'.

In summary, some examples:

  If you received a 1991 Federal tax refund and did not receive a 1991
  state tax refund: 1991 Federal tax refund is not includable as income
  or taxable in 1992 on any return.

  If you received a 1991 Federal tax refund and receive a 1991 state
  tax refund AND did NOT itemize on 1991 Federal tax return:  both
  refunds are not includable or taxable in 1992 on any return.

  If you received a 1991 state tax refund AND itemized on 1991 Federal
  tax return (assumes you used 1991 state taxes as an itemized deduction)
  :   then the state tax refund is includable as income and taxable
  on 1991 Federal tax return.

Thomas Tyler                                 State of New York
518-474-4925                               Division of the Budget
BDTYLER3@BUDGET                                 Albany, NY.
From: kurt@dna.lth.se (Kurt Swanson)
Newsgroups: misc.taxes
Subject: Income tax on US citizen residing oversea?
Date: 5 Jan 93 15:05:49 GMT
Organization: Lund Institute of Technology, Sweden

What is the basic idea on income taxes for a US citizen residing
overseas?

I am a US citizen, living in Sweden.  This year I have investment and
employment income in both countries.  I have heard that such a person
must pay income taxes in BOTH countries, but that each country credits
the other country's taxes to you - thus one ends up paying a rate
somewhere in between the two.  Is there any truth to this?

I have also heard a story about one not having to pay *ANY* income
taxes in *EITHER* country for the first partial year of residence in
the other country?  Any truth to this?

-- 
Kurt Swanson, Dept. of Computer Science,
Lunds universitet.  Kurt.Swanson@dna.lth.se
-- 
Kurt Swanson, Dept. of Computer Science,
Lunds universitet.  Kurt.Swanson@dna.lth.se
From: kettering@addvax.llnl.gov (Brett 'Volleyball Is My Game' Kettering)
Newsgroups: misc.taxes
Subject: Computer purchase write-off
Date: 10 Jan 93 21:22:00 GMT
Distribution: usa
Organization: Lawrence Livermore National Laboratory
News-Software: VAX/VMS VNEWS 1.41

I recently purchased a computer for use at home that I also use to do work from
home.  My job is as a Computer Scientist and I use my Mac to do documentation,
project planning, programming, etc. on weekends and evenings.  My family also
uses the Mac for personal use.  Am a allowed to write off any amount of the
purchase price, and if so, all at once or over the lifetime of the computer?

Thanks,
-------------------------------------------------------------------------------
Brett M. Kettering
PaperNet: LLNL P.O. Box 808 L-797 Livermore, CA.  94550
InterNet: brettk@llnl.gov
TalkNet : (510) 423-3467
FaxNet  : (510) 422-2847

"No other success can compensate for failure in the home."
                   -- David O. McKay
-------------------------------------------------------------------------------
Newsgroups: misc.taxes
From: ccowboy@seer.gentoo.com (Sharif Torpis)
Subject: 1040EZ STILL OK EVEN IF YOU OWN SMALL BUSINESS ?
Date: Fri, 8 Jan 1993 20:14:11 GMT
Organization: Brad Lanam,  Walnut Creek, CA

Can I still use the 1040 EZ form even if I own a small business? If not, which
form should I be looking into?

ccowboy@gentoo.com

Newsgroups: misc.taxes
From: burke@tss.com (Jim Burke)
Subject: Re: Social Security for non-citizens
Reply-To: burke@tss.com (Jim Burke)
Organization: Teknekron Software Systems. Inc.
Date: Fri, 8 Jan 1993 23:06:37 GMT

In article <1993Jan7.152300.1560@midway.uchicago.edu>, hasn@midway.uchicago.edu (Sheheryar Hasnain) writes:
|> Are there any Social Security exemption clauses for 
|> non-citizen residents of the US?  If a non-citizen works
|> here but does not plan on taking social security benefits
|> (at retirement), why should s/he have to pay? 

Well, it's like this.  The social security tax is just that - a tax.
Someone may not agree with it, but it is a fact of our lives.  It is
not a system into which you invest with the idea of withdrawing your
contributions at a later time.  The money paid in now is to support
the people who are collecting now.  It is a social program.  In another
country, this might be hidden in the general taxes collected on income
for "the social good" of the country.  Since you are a participating
member of this society, deriving benefit by being employed here, it
seems reasonable that you should pay the same kinds of taxes as anyone
who participates in this society.  It is not reasonable to allow someone
to derive all the benefits of citizenship (other than voting) without
the obligation of paying taxes.  Why should a non-citizen have benefits
our own citizens don't have?

|> Also is there a minimum I will have to pay before I get
|> any benefits?   Eg.  If I work in the US for say 10 years
|> and then return to my country of citizenship would I still
|> receive SS benefits at retirement?  To tell you the truth
|> I dont even know if, being a resident/non-citizen, I'm 
|> entitled to SS benefits.  Would someone enlighten me
|> on these issues?  Thanks.

I know that the social security administration has formulas to determine
the benefits collected at retirement based upon contributions.  Ten years
of contribution in a lifetime of working may or may not be enough.  The
best way to get an answer is to phone up the social security administration
and ask them.

-- 
***********************************************************************
 Jim Burke	"Life is uncertain - eat dessert first!"
 Teknekron Software Systems		... burke@tss.com
 phone:(415) 617-2432			... uunet!tekbspa!burke
Xref: sparky misc.taxes:4060 misc.invest:16120