HDTenEightyP/NetNews huggingface dataset:
From: jedwards@ms.uky.edu (Jonathan Edwards)
Subject: Re: Where to deduct home office?
Date: Fri, 10 Apr 1992 15:00:21 GMT
Organization: University Of Kentucky, Dept. of Math Sciences
X-Bytes: 

stevem@fuji.noname (Steven G. Marcie) writes:


>Sorry if this is a FAQ, but I have a question about business 
>use of the home.

>I own some rental property which I manage myself.  I have a
>spare room in my home which I use solely as an office to do
>work related to my management of those properties.  According
>to a (good, IMHO) book I've been using by John Reed called
>Aggressive Tax Avoidance For Real Estate Investors, my
>properties are not an "investment" of the type that would
>disqualify me from taking the home office deduction.  So
>he suggests taking the home office deduction.  The problem
>is that I can't figure out where to take the deduction.

>Publication 587 (Business Use of Your Home) says to deduct 
>it on Schedule A if you're an employee so this is clearly
>not for me.  It says to deduct it on Form 8829 with Schedule
>C if I'm self-employed.  I don't think this is appropriate 
>for me either because I don't file a Schedule C for the
>properties, I file a Schedule E.

>So where do I deduct it!!!!  Aaarrgghh!

You deduct it on Schedule E, of course.  You might want to follow the
instructions for form 8829 to figure out how much to deduct.
From: mike@isg.llnl.gov (Michael E. Hummell)
Newsgroups: misc.taxes
Subject: Re: Can we change the subject?
Date: 17 Apr 92 01:14:54 GMT
Article-I.D.: lll-wink.122780
Organization: Lawrence Laboratory  Livermore, CA

In article <LIBJCW%SUVM.BITNET@SHSU.edu (John Wyman) writes:
>At the risk of starting another listserv war, can we please change the
>subject?  I'm tired of reading about the Libertarian party, and all other
>parties.  Similarly with utopian ideas about taxation.
Isn't that what the "k" (kill) key is for?  Where else does one post ideas
about taxation ?

>Lets get back to helping each other.  :-)
...  navigate through the frustrating status quo.   That's a fine idea, but
there are other fine ideas as well; viz. to eliminate the NEED to help each
other understand all these complex, convoluted tomes of taxing torture.  Isn't
Internet the perfect forum?

> Similarly with utopian ideas about taxation.  [line repeated by ME ]
My favorite is the one to implement a flat 10% federal tax.  Real easy to
compute.  Why can't we enact a constitutional amendment to that effect via the
initiative process?  Wouldn't most people vote for it?

-------------------------------------------------------------------------------
"I'll just go out the Golden Gate and turn left."  -- Peter Bird, divulging his 
 navigation plans as he was rowing out of San Francisco on his way to Australia.
-------------------------------------------------------------------------------
hummell@llnl.gov   work: LLNL L-363 POB 808    Livermore,CA 94551 (510)422-3922
                   home: Mike Hummell POB 2121 Livermore,Ca 94551 (510)449-9064 
-------------------------------------------------------------------------------
From: morse@zephyr.rap.ucar.edu (Corinne Morse)
Newsgroups: misc.taxes
Subject: Question on Exchange of Real Property
Keywords: exchange, real estate
Date: 10 Apr 92 15:30:37 GMT
Reply-To: morse@ncar.ucar.edu
Distribution: usa
Organization: NCAR


We own a residential rental property in our former state of residence (CA).
We would like to sell this property and buy another residential rental
property in our current state of residence (CO).  I remember hearing about
the possibility of doing this in such a way that it is like an exchange and
the capital gains taxes are deferred, but I don't remember any of the details.  
Clearly we have to talk with a lawyer on this one, but I would like to know if 
such a thing is possible and as many details as I can beforehand.  Does anyone 
out there know about this?  

Thanks for your help,

Cory Morse  morse@zephyr.rap.ucar.edu   morse@ncar.ucar.edu
From: jlundell@vixvax.mgi.com
Newsgroups: misc.taxes
Subject: Reporting income from a tax-exempt mutual fund
Date: 10 Apr 92 09:49:18 CDT
Organization: Management Graphics, Inc.

Hi, 

I currently have a two funds w/ 20th Century -- their Tax Exempt 
Intermediate and Tax Exempt Long Term mutual funds. It is my understanding
that only their Long Term fund declared dividends and as such the
Tax Exempt Intermediate fund does not need to be declared as taxable
income. Does anyone know why this is???

I am currently having a difficult time in determining what amount of this
(if any) that I need to report to my state -- Minnesota. The dividends 
reported are broken out three ways:

	1a Gross Div.  1b Ord. Div.  1c Cap. Gains Dist.

My guess is that since I am from Minnesota I will need to report a certain
percentage of one of the above columns. Can someone enlighten me on how
I determine the correct way to do this?????????  

Thanks in advance!

================================================================================
| Jim Lundell                                                                  |
| System Software Engineer              Internet:   jlundell@mgi.com           |
| Management Graphics, Inc.             Voice Mail: (612) 851-6174             |
| 1401 East 79th Street                 Operator:   (612) 854-1220             |
| Minneapolis, MN  55425                Fax:        (612) 851-6159             |
================================================================================
From: jas@ISI.EDU (Jeff Sullivan)
Newsgroups: misc.taxes
Subject: Home Office Deuction -- to take or not?
Date: 17 Apr 92 17:19:46 GMT
Distribution: misc
Organization: USC-ISI


I'm currently paying on my mortgage, so I get ~100% of my payments are
deducted as itemized interest.

However, I work as a freelance witer out of a home office in my condo.
Is there any reason I SHOULD be taking the home office deduction?  I
don't see it as having any benefit.

jas
--
--------------------------------------------------------------------------
Jeffrey A. Sullivan		| Senior Systems Pgmr -- with a difference!
jas@venera.isi.edu		| Information Sciences Institute
jas@isi.edu                    	| University of Southern California
Newsgroups: misc.taxes
Subject: what constitutes a mo
From: hilary.miller@execnet.com (hilary miller)
Date: 11 Apr 92 02:11:30 GMT
Reply-To: "hilary miller" <hilary.miller@execnet.com>
Distribution: misc
Organization: Executive Networks Information


Jeff Jackson, in a message to All on 04-09-92 at 9:15pm, said:

JJ/3Is it possible to borrow from, say, my parents, using my condo as
   3collateral have have that considered a mortgage for tax purposes?  (Or
   3does a mortgage have to be a bank loan).
   TMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM>

               Yes, perfectly OK.  Make the deal look as much
               like an arm's-length transaction as possible.


   L A
 I    R        Hilary B. Miller of Greenwich, Connecticut
  H/\Y         CIS: 76040,1743
   s r
---
 ~ DeLuxe} 1.21 #11645 ~ Help!  I've fallen and I can't get up!
--
Executive Network Information System   (914) 667-4567
International ILink Host
From: vincenti@pilot.njin.net (William Vincenti)
Newsgroups: misc.taxes
Subject: New York Taxes
Keywords: Taxes, New Jersey, Commuter
Date: 7 Apr 92 13:30:39 GMT
Distribution: nj
Organization: Rutgers Univ., New Brunswick, N.J.


I would appreciate any advice given in the following matter:
What taxes is a New Jersey resident responsible for as a commuter who
works in Manhatten?
a. What is the New York City income tax on commuters?
b. Does a New Jersey resident also pay New York State income tax on
wages?
c. If an individual files a joint federal income tax return does that
mean that he/she must also file a joint return for the wages earned in
New York City?
d. Are the spouse's wages/income also taxable for New York income tax
purposes even though the spouse does not work in New York?
e. Is the commuter who works in Manhatten required to pay New York
income tax on anything other than wages? i.e. Interest or dividends.
f. What other tax considerations must a New Jersey resident take into
account if he/she were to be employed in Manhatten?


I can be reached by telephone at 908-527-2246 or by EMail at:
                       vincenti@pilot.njin.net

Thanks in advance for any advice.

		Bill
From: gsmith@bbn.com (Graeme Smith)
Newsgroups: misc.taxes
Subject: Re: including forms
Date: 7 Apr 1992 13:20:10 GMT
NNTP-Posting-Host: bbn.com
Keywords: 1098


thanks to everyone who responded, seems I hang on to the 1098.

Graeme

Newsgroups: misc.taxes
From: schieb@isis.gsfc.nasa.gov (Brian D. Schieber)
Subject: Tax savings checklist wanted
Organization: NASA Code 971, Oceans & Ice Branch
Date: Wed, 15 Apr 1992 14:14:48 GMT

Is there such a thing as a tax savings checklist?
Doesn't someone, somewhere provide a list/book/FAQ
that can be checked for to ascertain if there are
deductibles in your taxes just waiting to come out?

Perhaps there are books on what you can do in life
to reduce your taxes. A complete (this years) list
of things to do such as the obvious: buy house 
to the not-so-obvious: milage for volunteer work (
say it on MD form). Everytime I do my taxes (or
look at my pained pay stub) I wonder what I could
do to reduce the AXE.

Maybe I'll make a FAQ out of replies...

Thanks,
 Brian
From: dana@hardy.hdw.csd.harris.com (Dan Aksel)
Newsgroups: misc.taxes
Subject: Re: TurboTax Printouts are IRS approved?
Date: 7 Apr 92 18:12:37 GMT
Organization: Harris Computer Systems, Ft. Lauderdale, FL

In article <167BCBC50.M21760@mwvm.mitre.org> M21760@mwvm.mitre.org writes:
>
> 
>I am using TurboTax tax preparation software for tax year 1991 and
>it claims to produce IRS approved forms from virtually any printer.

You are correct.  The IRS has changed its guidelines for computer
generated forms.  I know the output looks like it's from a line
printer but it is perfectly legal.

I've prepared over 80 returns so far this year and haven't been
contacted by IRS yet....

Unfortunately, the laser forms look much more professional.  I
decided to save the $200 on the laser option for TurboTax this year and
am living to regret it.  Clients give me a dirtly look when I hand
them a 60's type print out and a bill for $125.
----
Dan Aksel
From: rdippold@cancun.qualcomm.com (Ron Dippold)
Newsgroups: misc.taxes
Subject: Re: 15% tax rate for the Rich. (President Bush's Tax)
Date: 17 Apr 92 03:52:15 GMT
Organization: Qualcomm, Inc., San Diego, CA

mcgrew@ichthous.Eng.Sun.COM (Darin McGrew) writes:
>weverka@spot.Colorado.EDU (Robert T. Weverka) writes:
>>News said he paid $200,000 on $1,300,000 income.

>It also said that he gave over half of that $1.3 million away to
>a few dozen charities.  That cuts his taxable income in half
>right there.  If you give half of your income away to charities,
>it will reduce your taxes too.

The dog book made $800000 in royalties (Barbara made more than George
did!), which was all given to charity.  That leaves $500000, and
$200000 is 40% of that.
-- 
Why is "abbreviated" such a long word?
Newsgroups: misc.taxes
From: jedwards@ms.uky.edu (Jonathan Edwards)
Subject: Re: AMT
Distribution: usa
Date: Fri, 10 Apr 1992 22:21:36 GMT
Organization: University Of Kentucky, Dept. of Math Sciences
X-Bytes: 

adeni@pioneer.arc.nasa.gov (Kaiser Adeni  fl) writes:



>What is AMT and when does one pay AMT.

AMT stands for Alternative Minimum Tax.  It is a separate tax code that
is designed to ensure people don't use a number of legitimate tax
breaks to completely avoid taxation.  For example, to compute your
taxable income under AMT, you start with your taxable income under
the regular rules and add back in many of the deductions available
to those who itemize (e.g., state and local taxes, medical expeses - I
think - and just about everything but charitable contributions).  You
also add such things as the difference between any accelerated depreciation
you have taken and the depreciation allowable under straight-line methods,
tax-exempt interest on certain municipal bonds issued for the benefit
of private interests, etc.  You then deduct a standard deduction (which
is rather high - $40K or so) and pay 21% (or is it 24% now?) on the
remainder.

If your tax computed using the AMT rules is greater than the tax
computed using the regular rules, you pay the AMT amount...

AMT is computed using form 6251...
Newsgroups: misc.taxes
Subject: how do u keep track o
From: hilary.miller@execnet.com (hilary miller)
Date: 11 Apr 92 02:11:30 GMT
Reply-To: "hilary miller" <hilary.miller@execnet.com>
Distribution: misc
Organization: Executive Networks Information


Pradeep K Tapadiya, in a message to All on 04-09-92 at 9:15pm, said:

PK/3How does one keep track of the miles covered on business? More
   3specifically, how do you prove to IRS that you actually have
   3travelled x miles on business?
   TMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM>

               You keep a diary showing the date, starting and
               ending odometer reading, and business purpose (or
               personal nature) of each trip.  You should make
               the entries substantially contemporaneously.


   L A
 I    R        Hilary B. Miller of Greenwich, Connecticut
  H/\Y         CIS: 76040,1743
   s r
---
 ~ DeLuxe} 1.21 #11645 ~ "I've got a hunch!" -- Quasimodo.
--
Executive Network Information System   (914) 667-4567
International ILink Host
From: stevem@fuji.noname (Steven G. Marcie)
Newsgroups: misc.taxes
Subject: Where to deduct home office?
Date: 10 Apr 92 13:34:16 GMT
Organization: TIVOLI Systems, Inc.


Sorry if this is a FAQ, but I have a question about business 
use of the home.

I own some rental property which I manage myself.  I have a
spare room in my home which I use solely as an office to do
work related to my management of those properties.  According
to a (good, IMHO) book I've been using by John Reed called
Aggressive Tax Avoidance For Real Estate Investors, my
properties are not an "investment" of the type that would
disqualify me from taking the home office deduction.  So
he suggests taking the home office deduction.  The problem
is that I can't figure out where to take the deduction.

Publication 587 (Business Use of Your Home) says to deduct 
it on Schedule A if you're an employee so this is clearly
not for me.  It says to deduct it on Form 8829 with Schedule
C if I'm self-employed.  I don't think this is appropriate 
for me either because I don't file a Schedule C for the
properties, I file a Schedule E.

So where do I deduct it!!!!  Aaarrgghh!

Thanks in advance for any help.

sm
Steve Marcie - stevem@tivoli.com - TIVOLI Systems, Inc., (512)794-9070
From: jlaplant@magnus.acs.ohio-state.edu (John R Laplante)
Subject: When do "change your residence?" (state taxes)
Organization: The Ohio State University
 I moved from Michigan to Ohio in 1991. Unfortunately, they both have an
Distribution: usa
Date: Sat, 11 Apr 1992 22:25:21 GMT

Question: how do you know when you have stopped being the resident of one
          state and started being the resident of another?

1. I signed an apartment lease in Ohio on August 31, 1991.ecome an
Ohio resident then?

2. After signing my apartment least in Ohio, I returned to Michigan. I worked
for another week. I cleaned out my apartment on September 6 and turned in 
my keys in preparation for the big U-Haul truck adventure. Did I cease to
be a Michigan resident then?

3. On September 7, I moved my worldly goods from Michigan to Columbus. Is
that when I became an Ohio resident? At that time, my bed, kitchen appliances
and all necessities were in Ohio.

4. To complicate matters some, I remained an employee of my Michigan employer
until September 21. I was "burning up" vacation time from September 7 (when
I moved stuff to Ohio) until September 21 (when i had to return to work for 
an "outbriefing"). I think that this should all be attributed to Michigan, 
but I'm not sure.

5. To add another wrinkle, I received a lump sum payment in October, 2 weeks
after I had formally left my employer. Again, I think this should be Michigan,
rather than Ohio, income, but I don't know.

6. Finally, my wife (who did move with me) received unemployment checks from
a Michigan job while we were both in Michigan and Ohio. Again, the question of
residency rears its ugly head.

7. So, does anyone out in netland have a suggestion? It seems that when I moved
my stuff from Michigan to Ohio should be a good dividing time, but I don't 
know.
From: mccabe@gdls.UUCP (Harold McCabe)
Newsgroups: misc.taxes
Subject: Re: Japanese American Corp. pays *no* tax
Summary: so what?
Date: 14 Apr 92 17:02:49 GMT
Organization: General Dynamics Land Systems, Sterling Heights, MI

In article <1992Apr10.185936.1040@osf.org>, kev@osf.org (Kevin Till) writes:
> I'm surprised that I haven't seen any posting so far today. According to 
> yesterday's Primetime, many Foreign Corporation( especially Japanese) get away
> with paying no(or little) US Federal Tax by playing Price Transfer game.

So what?  According to "Beyond Our Means" by Alfred Malabre, many US
corporations paid no federal income taxes, including General Dynamics, General
Mills, DuPont, and W.R. Grace during a 4 year period despite the fact that
they were all profitable.

Harold McCabe
From: letemad@igc.org (Linda J. Etemad)
Newsgroups: misc.taxes
Subject: Re: Question on STD car deduction 27.5c
Date: 7 Apr 92 17:11:00 GMT
Article-I.D.: igc.1427800039
Nf-ID: #R:1992Apr6.181546.27781@netlabs.co:196577426:cdp:1427800039:000:186
Nf-From: cdp.UUCP!letemad    Apr  7 10:11:00 1992


Business mileage consists of traveling to see clients, prospective clients, etc Commuting mileage is when you travel to your business home. This is usually     where you work every day.
From: bhjelle@vaxine.unm.edu (Brian Hjelle)
Newsgroups: misc.taxes
Subject: Re: TurboTax Printouts are IRS approved?
Date: 8 Apr 92 17:22:12 GMT
Article-I.D.: lynx.1#rjl3g
Organization: University of New Mexico, Albuquerque

In article <167BCBC50.M21760@mwvm.mitre.org> M21760@mwvm.mitre.org writes:
>
> 
>I am using TurboTax tax preparation software for tax year 1991 and
>it claims to produce IRS approved forms from virtually any printer.
>I am running it on an HP Vectra PC and printing on an HP Laser Jet
>Series II printer.  Has anyone actually submitted these forms?  Are
>they really IRS-approved?  I'd hate to find out the hard way that the
>IRS doesn't accept these printouts.

They are really ugly, except for the 1040 form itself, which can
be printed out as laser-quality. What bothered me is that I couldn't
seem to get the program to recognize page-breaks, so one form ran
on into the other. Had to cut-and-paste and xerox to put it back
straight.

The "good" news is that IRS accepted the return, or at least
they cashed my check. :-)/:-(

> 
>Responses posted to the net are fine but I'd appreciate e-mail since
>I'm running out of time to file (only 2 more weeks!) and I have a hard
>time finding the time to scan through all the posts on the net.
> 
Just find one on the topic and use ^n.

Brian
From: jimmy@hpscit.sc.hp.com (Jimmy Chua)
Newsgroups: misc.taxes
Subject: Point Deductable ?????
Date: 9 Apr 92 00:10:16 GMT
Organization: Hewlett-Packard, Santa Clara, CA


   I refinanced my principle residence last summer which was bought 3 years 
 ago. Since point is supposed to be amortized over the life of the loan, Can
 I claim any deductions for 1992 tax return since the life of the loan is
  no longer valid. I was thinking of amortizing the point over 3 years . Yes??

           Any comment.
                           thanks
From: katy@clipper.ingr.com (Katy Yanda)
Newsgroups: misc.taxes
Subject: Re: pc software to do taxes?
Keywords: taxes software package
Date: 10 Apr 92 18:13:58 GMT
Distribution: misc
Organization: Intergraph Advanced Processor Division - Palo Alto, CA

In article <1992Apr2.143343.12344@banana.fedex.com>, claude@banana.fedex.com (claude bowie) writes:
> What is a good software package to run on a pc to do your own taxes?
> thanks,
> claude
> -- 
> claude bowie			| voice:  (901)797-6332
> federal express corp		| fax:    (901)797-6388
> box 727-2891, memphis, tn 38194 | email:  claude@banana.fedex.com

I have used TurboTax for several years and liked it.  Also one of
my relatives uses Andrew Tobias' Taxcut, and have reported 
favorably about it too. Those are probably the top 2 tax programs
around, although Parson's Technology has their own tax program
which may or may not be as good, and is a little cheaper.

Katy the California Lady
From: medina@bobcat.ent.ohiou.edu (Enrique Medina  ECE-GRAD)
Newsgroups: misc.taxes
Subject: I LIVE HERE. WHY SHOULD I PAY MORE? NON-RESIDENT ALIEN.
Date: 2 Apr 92 15:50:41 GMT
Organization: Ohio University, College of Engineering & Tech.

I would really appreciate if somebody tells me how to reduce what I consider a very high amount of taxes that the I.R.S. wants me to pay each year.

I'm a foreign student, on a J-1 visa (I'm from Panama, and amazingly enough, Panama does not have a tax trety with the U.S.A.).  My wife and two children are here with me, but the 1040NR (non-resident alien form, whatever nonresident alien means) does not allow me to take any deductions for my dependents.  This means that eventhough my family is here with me and I'm working here (as a Research Assistant), I have to pay taxes as a single!!

Please, if you know of any solution to my problem (legal solution, I mean), let me know.  My family and I will be very grateful.

Mail your response to: medina@bobcat.ent.ohiou.edu

		Thank you.
				Sincerely,
					the ripped off poor panamanian
					Enrique A. Medina
Newsgroups: misc.taxes
Subject: Re: tax-free savings?
From: gary@cdthq.UUCP (Gary Heston)
Date: Sun, 05 Apr 92 20:38:59 CDT
Organization: Garys' Home for Obsolete Computers

joannee@sco.COM (Joanne Eglash) writes:

> 
> Aside from 401's and IRA's, are there methods for saving money
> that the government does not tax?  How do U.S. Savings Bonds
> function and where can one find out more information about
> interest, purchasing etc.?  Are they good investments?  

Interest on US Savings Bonds is federally taxable. Interest on
municipal bonds is generally not (depends upon the type of bond;
some are taxable). Your best bet is to pick one of the tax-free
bond funds for your state; that way, you don't have to worry about
researching the issues.

Gary Heston, at home...
gary@cdthq.uucp
Newsgroups: misc.taxes