HDTenEightyP/NetNews huggingface dataset:
From: JONESD@kcgl1.eng.ohio-state.edu (David Jones)
Subject: rental income agony
Organization: The Ohio State University
Date: Sat, 23 Jan 1993 17:32:19 GMT

I am one of 1992's record number of single, first-time home buyers.  The
friend I was sharing an apartment with was left in the lurch so I agreed
to let him live in my house in return for paying half the mortgage and expenses.
My friend is obviously paying me rent, but how do I report this to the IRS?

Trying to apply the various rules in IRS publications is extremely agravating.
Their model of a rental arrangement is that at each point in time a property
or cleanly divisble portion thereof is in a state "rental" or a state of
"personal use".  In my case, everything except the bedrooms has communal use.

What seems fair to me is to treat his share of the mortgage payment as my
net income, folding the interest and taxes into the itemized deductions
on schedule A.  There is a rule about how the base rate for the first phone
line is not a deductible expense, so it would have to be added.  Is this
acceptable to the IRS?  What about the cable TV bill?  What about depreciation?
What about the little box on schedule E: "Did you use the property for personal
purposes..."?  Arrgh!


David L. Jones               |      Phone:    (614) 292-6929
Ohio State Unviversity       |      Internet:
1971 Neil Ave. Rm. 406       |               jonesd@kcgl1.eng.ohio-state.edu
Columbus, OH 43210           |               jones-d@eng.ohio-state.edu

Disclaimer: A repudiation of a claim.
Newsgroups: misc.taxes
From: danderso@bambam.es.com (Derek Anderson)
Subject: Why would they send a 1099 ?
Organization: Design Systems Division, Evans & Sutherland, SLC, UT
Distribution: usa
Date: Thu, 28 Jan 93 21:47:49 GMT

	Here's a question I wonder if someone out there could answer for
me. Last year (1992) I sold some used computer equipment and shipped it
COD through an air freight company. A few days ago my wife gets a phone
call from the shipping company, asking for my SS number. She asks them
why and was told that in 1992 they had paid me $x.xx for some COD's and
that by law I had to claim that on my taxes. They needed my SS number so
they could send in their 1099 forms.
	It seems like the buyer made the check out to the shipping
company and then the shipping company made me a check. I guess I just
don't understand why the shipping company would be sending in a 1099 for
the sale of some used computer equipment that I didn't even sell to
them. Could someone enlighten me?

	Thanks in advance for any info.

-- 
--------------------------------------------------------------------------------
e-mail:		danderso@bambam.dsd.es.com
The contents/opinions above are personal and independent of my employer
From: cdoud@uwsuper.edu (CHAUNCEY G. DOUD)
Newsgroups: misc.taxes
Subject: financial aid
Date: 26 Jan 1993 02:02:51 GMT
Organization: University of Wisconsin - Superior, Wisconsin
NNTP-Posting-Host: 137.81.10.185

How much of my financial aid do I have to claim and if it is anything I don't
use on course related expenses do books count?
Thanks for any help
Chauncey
From: carl@Cayman.COM (Carl Heinzl)
Newsgroups: misc.taxes
Subject: Re: Home offices deduction case
Date: 25 Jan 93 21:37:49 GMT
	<1993Jan22.213438.18934@cbnews.cb.att.com>
Distribution: usa
Organization: Cayman Systems Inc., Cambridge, MA
In-reply-to: ask@cbnews.cb.att.com's message of 22 Jan 93 21:34:38 GMT
bcc: carl


>Rent?  Only if you pay rent and the receiver declares it as income.
>If you are a renter, makes sense.

>Sure, deduct chairs and paper and pencils.

>The biggie however, is depreciation.

>If you had a 7 room house and one room was 100% used for a home
>office you can deduct 1/7 of the cost of your home (building, not
>land) depreciated over 20 (??) years.  That's usually more than the
>pencils.

Actually this isn't usually a very big deduction compared to others
that are available.  Consider a 200k house (the depreciation period is
27.5 years, btw) - that's (200k/27.5)/7 = $1038.96.  So, if you're in
the 31% bracket it means an extra $322 in tax refund.  

Of course, reduce these numbers for houes less than 200k (or increase
them appropriately for houses over 200k)!!!

I don't take a home office deduction even though I believe it would
probably withstand an audit (I had 3 rooms built in the basement, one
of which is exclusively used for my business - a small systems
Computer systems integrator) because the extra refund I'd get would be
less than $200 in a year (our half of our two family house has 10
rooms) and, when I look at my other deductions, this is definitely one
of the less signifigant ones.

-Carl-

--
Newsgroups: misc.taxes
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: 1992 income?
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Wed, 27 Jan 1993 00:03:53 GMT

In article <UfNOcYW00iQV0uLK4o@andrew.cmu.edu> "William A. Schurman" <ws19+@andrew.cmu.edu> writes:
>I'm hoping for some help concerning the following...
>
>I was divorced in 1991.  In February of 1992, as part of my divorce settlement,
>my x-wife purchased my half of our house deed for an amount well less than half
>of its purchase price.
>
>I've been told that I cannot declare this as a capital gains loss even though
>I essentially did lose in the home investment.  Must I then report this
>settlement amount as income for 1992?
>
>I'd appreciate any responses to this.

Two separate issues here.

First, if you incur a loss on the sale of your personal residence
you cannot declare that a capital loss.  If you incurred a gain,
that's income (possibly deferable income.)   That's just the rules.

Second, your divorce settlement may or may not specify whether the
house settlement is income to her and deductible payment from you.
Check with your lawyer or read the settlement finely.  This is
independent of whether selling houses at a loss.
-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
Newsgroups: misc.taxes
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: State taxes deductable...
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Fri, 22 Jan 1993 21:27:22 GMT

In article <BILLW.93Jan21185322@glare.cisco.com> billw@glare.cisco.com (William ) writes:
>Is there any way to recover from paying significant amounts of state
>tax in the year AFTER the income happened?  This year it appears that
>I am subject to AMT, since state tax isn't deductable in the AMT calcs.
>
>eg  State tax owed in 1991:   10000
>    State tax payed in 1991:   5000
>    91 State tax payed in 92:  5000	(on april 15, of course).
>
>owe in 92: AMT (24% or so) of $5000, in addition to income tax on 92 earnings.

Well, I suppose it's pretty nasty to get socked with AMT for any
amount, but on the other hand you're probably not sleeping in the
streets:^)

Looks like you're stuck.  If you took your 91 state tax in 91 that
would have been good as an afterthought. Or if you realized you were
going to pay AMT in 92 only in 92, you could have worked out a
payment plan with the state, so you pay them some interest put less
than the 24%, for sure. Then paid in full in 93.  But now that it's 93,
I think you're stuck.

(I assume when you say you are subject to AMT you mean you actually
have to pay AMT -- many people are subject to AMT Calculations but
the bottom line is no AMT to be paid.)
-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
From: eder@hsvaic.boeing.com (Dani Eder)
Newsgroups: misc.taxes
Subject: Re: Options if I do not receive a 1099 - Help
Date: 22 Jan 93 22:37:23 GMT
Distribution: usa
Organization: Boeing AI Center, Huntsville, AL

tpradeep@cs.tamu.edu (Pradeep K Tapadiya) writes:

>I have a part-time home-office based contract programming business.
>In Dec 1992, I received a $400 check from one of my clients for my
>services. This client informs me that a 1099 is issued only if the
>amount in greater than $600 in a year and therefore I won't be
>getting any 1099 from his company.

>I am wondering if the tax-gurus on the net can help me with a couple
>of questions.

>Q. Since there is no 1099 involved, IRS will never know about this
>  transaction. Can I get away without mentioning this amount on the
>  tax returns? Is there any risk involved at all?

If the IRS monitors this newsgroup (or any IRS employee who is
interested who reads it for fun), then you just admitted the
transaction in a very public place, and you are screwed.

>Q. Alternately, can I declare the amount for tax year 1993 even though
>  I received the check in 1992?

If you are on a cash basis accounting, as most of us are, then
you are supposed to report income at the time you received it.
If the work was performed in 1992, then there is no way to avoid
counting it in 1992.

Rules for hiding income from the IRS:

(1) Don't admit the income in a public place, which includes computer
networks read by thousands of people.
(2) Don't take checks or other forms of payment that require deposit.
The IRS can request your bank records from the bank, and can then
question where the money came from.  Use Cash.
(3) Don't have a lifestyle that is out of line with your apparent
income.  

Dani Eder

-- 
Dani Eder/Meridian Investment Company/(205)464-2697(w)/232-7467(h)/
Rt.1, Box 188-2, Athens AL 35611/Location: 34deg 37' N 86deg 43' W +100m alt.
Newsgroups: misc.taxes
From: tony2@prefect.cc.bellcore.com (gozdz,antoni s)
Subject: Re: Tax Calculation spreadsheet?
Organization: Bellcore, Livingston, NJ
Distribution: na
Date: Sat, 23 Jan 93 01:00:31 GMT

In article <1jq21vINNjvi@tamsun.tamu.edu> mcguire@cs.tamu.edu (Tim McGuire) writes:
>A few years ago, I developed a reasonably good spreadsheet for 
>filling out my 1040 form.  Since that time, I have changed
>computers, moved, and can't find my old floppies, anyway.  
>
>I thought, no problem, I'm sure I can find a free/share/ware
>tax calculation spreadsheet on an archive site, somewhere.
>But I didn't seem to locate any.  Can anyone point me in the 
>right direction?  Right now I use either Lotus (for compatibility
>with my HP95LX) or an old copy of Supercalc 3.  I have QuatroPro
>available at work, though I've  not used it.
>
>Tim McGuire
>mcguire@cs.tamu.edu
>

Why not use amtax92? It's on the oakland site in the
pub/msdos/taxes directory (IP 141.210.10.117.)

Tony
tony2@cc.bellcore.com
Newsgroups: misc.taxes
From: "hilary miller" <hilary.miller@execnet.com>
Subject: can regular ira and k
Reply-To: "hilary miller" <hilary.miller@execnet.com>
Organization: Executive Networks Information
Distribution: misc
Date: 21 Jan 93 07:23:44 EST


Pradeep K Tapadiya, in a message to All on 01-20-93 at 3:31am, said:

PK>|I have a small part-time home-office business. I am wondering if
   |I can make my KEOGH contributions to my regular IRA account. This
   |way I can avoid an extra $10-$12 annual custodial fee.
   |_________________________________________________________________

          No, you must have a separate Keogh plan or SEP.


   L A
 I    R        Hilary B. Miller of Greenwich, Connecticut
  H/\Y         CIS: 76040,1743
    
---
  DeLuxe/386 1.25 #11645  As easy as 3.1415926535897932384626433832795028841
--
Executive Network Information System  (914) 667-4567
International ILink Host
Newsgroups: misc.taxes
From: acheng@ncsa.uiuc.edu (Albert Cheng)
Subject: Re: Which tax prep book to use?
Originator: acheng@shalom.ncsa.uiuc.edu
Organization: Nat'l Ctr for Supercomp App (NCSA) @ University of Illinois
Date: Thu, 21 Jan 1993 20:16:37 GMT


In article <6oVoXB1w165w@bluemoon.use.com>, eire@bluemoon.use.com (Chris Clinton) writes:
>I called the IRS on Dec 2nd and subsequently got a note to say that
>pub 17 was not available yet.
>I called again last week and got a similar note in yesterdays mail.
>Whats the point in them "supposedly" publishing a book when they do
>not have it available at the most important time in the tax year!!!!

I called for it about Dec. 29 and got it in a week.

[The 1992 version is about 1/3 thicker than the 1991.  Not a good sign.]
Newsgroups: misc.taxes,misc.invest
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: Capital Gains Tax Question
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Wed, 27 Jan 1993 16:21:26 GMT

In article <1993Jan27.130647.3648@cbnews.cb.att.com> lib@cbnews.cb.att.com (Lib) writes:
>In article <1993Jan26.205050.18647@cbnews.cb.att.com> ask@cbnews.cb.att.com (Arthur S. Kamlet) writes:
>>
>>See the instructions for Form 1040-ES --  you shouldn't get behind
>>in your 1040-ES payments.  If in January you know you will owe an
>>additional $1000 in taxes, then file $250 each quarter starting
>>April 15.   If you do not incur this income until July 1st, then
>>follow the instructions -- you will end up paying $500 each in Sept
>>and January.
>
>This is all wrong. You have to level your PREPAYMENTS each quarter,
>withholding and estimated taxes combined. Thus you must prepay at least
>25% of the yearly total that must be prepaid by April 15, 50% by
>June 15, 75% by Sept. 15, 100% by Jan. 15.


See the original article.

He received an unexpected lump gain in the first quarter.

If withholding was exactly correct before the unexpected gain, then
leveling estimated payments from that quarter onwards is correct.

>  
>For example at the company where I work we
>get a lot of extra money, and thus a lot of extra withholding, in
>the first quarter, getting four paychecks (Jan. 1,31, Feb. 28, Mar 31)
>plus our versions of profit sharing and bonuses around the middle
>of March. So if in January we know we're getting an extra $1000 from stocks
>we don't have to do anything 'til probably September on estimated taxes
>because we've paid so much withholding up front.

Yes, you got a lot of extra withholding.  The poster asked about
unexpected capital gains.
-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
From: naiming@eng.umd.edu (Naiming Shen)
Newsgroups: misc.taxes
Subject: a question about moving expenses
Date: 25 Jan 1993 16:05:43 GMT
Organization: Electrical Engineering, University of Maryland
NNTP-Posting-Host: bagend.eng.umd.edu



We used to live in an apartment and last year my wife got a job (about
40 miles away) and we bought a house closer to her job location. But the
house house is further away from my job location. Can we use the itemized
deduction of moving expences in this case?
Any help will be appreciated.

Naiming Shen
From: wilsonbr@cps.msu.edu (Brian R Wilson)
Newsgroups: misc.taxes
Subject: HELP!  College student... work in 2 states.
Date: 26 Jan 93 01:46:29 GMT
Organization: Dept. of Computer Science, Michigan State University
NNTP-Posting-Host: pacific.cps.msu.edu
Originator: wilsonbr@pacific.cps.msu.edu

I am looking to you experts out there for some ideas...

My situation:
College student (Michigan State), live in dorms, have an on campus job
  while at school (~20 hrs/wk).
Co-op Job out in New York State from June '92 to January '93 (~7 months)
  (still counted as full-time student at MSU for this... never
   changed my place of legal residence, but paychecks did go to New York
   address.  Rented an apartment while I was there)
Paying my own way through school... no parental help (ie. could claim 
   mayself as a dependent but would rather not... they still pay health
   insurance.)

1) Any suggestions or tricks or ANYTHING about my taxes this year???  
2) Any suggestions about how I may benefit on taxes next year (I am 
   going back out to New York to work in May until December again).
3) Any way to NOT have to pay taxes until possibly May? June? July?

Thanks much folks...

-=Brian Wilson
wilsonbr@cps.msu.edu
From: barryf@hpfcso.FC.HP.COM (Barry Fowler)
Date: Mon, 25 Jan 1993 19:28:13 GMT
Subject: Mortgage deduction/divorce question
Organization: HP Colorado Computer Mfg. Operation
Newsgroups: misc.taxes

I am currently in the process of obtaining a divorce.  Our date of 
separation was August, 1992.  Can I claim 100% of mortgage interest 
as a deduction on my 1992 tax return?  If not, then what percentage?

It appears that we will both be filing separately.  A joint return is
not an option.
From: bhjelle@carina.unm.edu ()
Newsgroups: misc.taxes
Subject: Re: Tax softwares for Microsoft Windows 3.X
Date: 27 Jan 1993 18:42:55 GMT
Organization: University of New Mexico, Albuquerque
Distribution: misc
NNTP-Posting-Host: carina.unm.edu
Keywords: Tax software

In article <1993Jan26.180812.20156@acuson.com> weyyi@acuson.com (Weyyi Wang) writes:
>
>    A software company in Mtn. View - Wintax, developed a product under
>Window 3.X to file your federal/state income taxes. It has built-in federal
>and state tax forms in Windows so you can get hard copies right after you
>finish the form filling. It has separate GUI to interact with you in a Q & A
>style so you don't have to be the tax expert to file the tax form anymore.
>The package is on sale for $29.00 until the end of February, 1993.
>
Of course, similar capability is available from the better-known
companies like those making TurboTax and TaxCut, both of which
are consistently highly-rated by independent reviewers.

Brian





Newsgroups: misc.taxes,misc.invest
From: lib@cbnews.cb.att.com (Lib)
Subject: Re: Capital Gains Tax Question
Organization: AT&T
Distribution: usa
Date: Wed, 27 Jan 1993 13:06:47 GMT

In article <1993Jan26.205050.18647@cbnews.cb.att.com> ask@cbnews.cb.att.com (Arthur S. Kamlet) writes:
>
>See the instructions for Form 1040-ES --  you shouldn't get behind
>in your 1040-ES payments.  If in January you know you will owe an
>additional $1000 in taxes, then file $250 each quarter starting
>April 15.   If you do not incur this income until July 1st, then
>follow the instructions -- you will end up paying $500 each in Sept
>and January.

This is all wrong. You have to level your PREPAYMENTS each quarter,
withholding and estimated taxes combined. Thus you must prepay at least
25% of the yearly total that must be prepaid by April 15, 50% by
June 15, 75% by Sept. 15, 100% by Jan. 15.
  
For example at the company where I work we
get a lot of extra money, and thus a lot of extra withholding, in
the first quarter, getting four paychecks (Jan. 1,31, Feb. 28, Mar 31)
plus our versions of profit sharing and bonuses around the middle
of March. So if in January we know we're getting an extra $1000 from stocks
we don't have to do anything 'til probably September on estimated taxes
because we've paid so much withholding up front.

Newsgroups: misc.taxes
Subject: Re: New York State is Drowning
From: gary@cdthq.UUCP (Gary Heston)
Date: Fri, 22 Jan 93 20:22:58 CST
Organization: Garys' Home for Obsolete Computers

tachaimov@hou.amoco.com (Tommy C.) writes:

> In article 1jldp8INN99p@usenet.INS.CWRU.Edu, ak336@cleveland.Freenet.Edu (Joh
> >
> >On a recent trip through upper N.Y. State we we're all impressed
> >with the depressed look of things....abandoned homes, shuttered 
> >businesses and generally shabby conditions. I then read that business
> >flight out of the state is nearly epidemic....all do to the high taxes
> >the "welfare state" imposes.
> 
> Yeah, but the population of Oregon, I believe, is growing, and they're 
> what, #1 or #2 in the US for highest state tax?  Conclusion:  RE: New York, i
> you New Yorkers, just a joke).

Check *total* taxes, not just state sales tax. New York is a disaster,
with New Jersey, Mass, and California close behind. Other things, like
insane labor laws and service fees (like $350,000 for permission to 
hook a small business expansion into the sewer, in LA) and decreasing
quality of life are adding impetus to the flight. And it's not just
businesses leaving, either....

Gary Heston, at home....
gary@cdthq.uucp
Xref: sparky misc.taxes:4299 misc.invest:17081
From: yan@sybase.com (Xudong Yan)
Newsgroups: misc.taxes,misc.invest
Subject: Capital Gains Tax Question
Date: 21 Jan 93 21:03:51 GMT
Reply-To: yan@sybase.com (Xudong Yan)
Distribution: usa
Organization: Sybase, Inc.

Suppose you sold some stock and realized some capital gains, and the amount
is significant. You don't want to wait till end of year tax time to find
out that you didn't withhold 90% of your income.

What do you need to do? Send money to IRS right away?

If so how much of it? And by which deadline?

To make things complex, what happen if you realize a large loss later in
the year? Than you payed too much estimated tax.


Thanks for any info.

xudong yan
From: dey@gaia.cs.umass.edu (Jayanta K. Dey)
Newsgroups: misc.taxes
Subject: SUBSCRIBE
Date: Thu, 28 Jan 93 09:21:19 -0500
Organization: Fedtax-L<==>Misc.Taxes Gateway
X-Gateway-Source-Info: Mailing List

SUBSCRIBE
Newsgroups: misc.taxes
From: TW.A51@isumvs.iastate.edu (Jim Berg)
Subject: Can I have a SEP also?
Organization: Iowa State University, Ames IA
Date: Sat, 23 Jan 1993 21:57:32 GMT

Fellow Taxpayers...

I am employed full-time... am covered by an employer retirement
plan... and operate a small in-home business.

My question is...  Am I able to contribute to... and deduct from my
taxes... a Simplified Employee Pension (SEP)?

The literature is quite confusing... but I'm sure that if it is
possible... that one of you out there is doing it...

Thank you for your information!!!

Jim Berg
x1berg@exnet.iastate.edu
Newsgroups: misc.taxes
From: lizzit@silver.lcs.mit.edu (Lizzette Xixxo)
Subject: Re: HELP! Weird mortgage situation.
Organization: MIT Laboratory for Computer Science
Distribution: usa
Date: Fri, 29 Jan 1993 00:07:06 GMT

Eric's problem:  deed & mortgage in his in-law's name as security (for
the in-laws) on a second mortgage from the in-laws.  Who claims the
deductions?

Answer:  Since it is essentially Eric's, he should start off by getting
his name on the deed, ALONG with the in-laws.  that prevents future
arguements from the IRS that it isn't really his.  All the interest
and taxes are deductable by Eric (because he is paying), but the IRS will
disallow it unless he puts the mortgage interest on the SECOND mortgage
interest line on Sch. A.  This is because the IRS now has a social security 
number matchuop program, so anything that doesn't have the taxpayer's
ss# and is placed on the first mortgage line gets disallowed.  Eric
can also deduct the mortgage interest he pays to his in-laws, but then
the in-laws will have to pay tax on the interest recieved, so he should be
sure to discuss this with them before he does it.

Newsgroups: misc.taxes
From: cep@taligent.com (Christophe Pettus)
Subject: Re: Can I have a SEP also?
Organization: Taligent, a little subsidiary of two really big companies.
Date: Mon, 25 Jan 1993 19:20:23 GMT

In article <C1BuBw.yD@news.iastate.edu> TW.A51@isumvs.iastate.edu (Jim Berg) writes:
>I am employed full-time... am covered by an employer retirement
>plan... and operate a small in-home business.
>
>My question is...  Am I able to contribute to... and deduct from my
>taxes... a Simplified Employee Pension (SEP)?

Basically, yes.  There are businesses that cannot use an SEP, but most
small home-based businesses can.  The IRS publication "Retirement Plans
for the Self-Employed" goes into this in horrendous detail.
--
-- Christophe

"Bad analogy!  No biscuit!"