Member Since September 2, 2008 , From Binghamton, United States
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Recent Activity by Tax Fairy

Answered: What happens to the money of those that died ...

If they have a minor child, that child will receive benefits until they are 18. Their spouse may also be able to collect on that account when they retire if they haven't remarried and the benefit is ...

Commented: About LindaRuth's answer

If you received more than you had paid in premiums, the difference is reportable income. You should received a 1099 from the insurance company with the information. If the money was received as a ...

Commented: About lizawelch's answer

Need more info. Did the customer make a down payment that's now sitting as a credit in his account and you want to apply it to an invoice? If so, get the invoice on the screen and click the "apply ...

Answered: Where (forms) do i deduct loss on sale of rental ...

Wrong- depreciated property goes on form 4797 Part III first and then flows to Sch D

Answered: I'm retired, receiving Social Security and under ...

Probably not. You or your spouse must have earned income (W2 or self-employment).

Answered: Am retiring at 62 in california but moving to new ...

Check with your current provider to see if they will still cover you after the move, or if they have a branch in NY that you can transfer to. If you have to change companies completely, make sure you ...

Answered: What happens when farm equipment is repossed and ...

The balance of the loan is still due. If the lender forgives the balance of the debt, they may issue a 1099C to the debtor. The debtor then has to report that amount as income unless the debt is ...

Answered: What are my income taxes on 4800.00

If you have no other income, zero. If this is self employment income however, you will owe self employment tax.

Answered: Tax questions - live in nevada and co employed is ...

If you did not work in NY, no. If your employer withheld NYS income tax, you will have to file a non resident return to get it back.

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