Cost basis refers to the original value of an asset for taxes. Its value often determines its capital gains, which equal the asset’s cost basis and the current market value....
Posted by McCool's Tax Service on 03/01/2021
Do you own cryptocurrencies? Maybe you bought Bitcoin years ago when it cost $ 100 and decided to make big profits in 2021. Or perhaps you got into the revolution late and bought some...
Posted by Income Taxes and Bookkeeping LLC on 02/23/2021
The IRS deals with foreclosure as well as the sale of a property. It was already yours, and you no longer own it, so you could end up paying taxes on a mortgaged property. The event...
Posted by Carmen Garcia on 12/26/2020
Filing your crypto income taxes is not an option; it is a must under the IRS tax code. Here are some reasons why you should start reporting cryptocurrency income on your tax return.Questions...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 12/15/2020
Form 1099-CAP from the IRS is one of the series of the 1099 forms available from Uncle Sam. They use this to report transactions and payments from nonemployee. Whenever there is a...
Posted by Abundant Wealth Planning LLC on 11/25/2020
Uncle Sam will send you one or more copies of the 1099-B Form if you sell bonds, stocks, and other securities via a broker. This form aims to record gains or losses arising from such...
Posted by Daniel P Vigilante CPA and Profit Consultants on 11/25/2020
