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
From the title, you can tell that worthless securities are just what they are: worthless, insignificant, and meaningless. These are securities with ZERO market value and may include...
Posted by Pat Raskob 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 market value of worthless security is zero. Typical examples are bonds or stocks that are publicly traded or held privately. Such securities and other securities abandoned by the...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. 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
IRS Form 1099-A is an informational declaration that reports the application of a property. Homeowners typically receive an IRS Form 1099-A from their lender after their home has been...
Posted by Taxes Made EZ Inc on 11/19/2020
