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Advanced- For purposes of the 3.8% additional Medicare tax on net investment income in 2013, how does this relate to rental income?
- Can I make a direct transfer of my IRA to my church and qualify for tax-free treatment (up to $100,000)? I’m 72 years old.
- 5 Apps to Help with Taxes
- I have to take a required minimum distribution from my IRA. Can I take stock instead of cash?
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Tax Tips
Don’t Respond to Any E-mail That Seems to Come from the IRS
The IRS doesn’t send e-mail to taxpayers. The official looking online correspondence is merely a phishing expedition to obtain your personal information so identity thieves can steal your identity. Don’t respond. When in doubt, call the IRS at 800-829-1040 to inquire.
Factoids
FACT:
For 2006 (the most recent year for statistics), individuals who itemized deductions reported $52.6 billion in noncash donations (up 14.1% over the prior year). The largest type of noncash donations was corporate stock (49.1%), followed by clothing (13.4%) and household items (8.2%). Donations of mutual fund shares increased by 44.2%.
Summer 2009 Statistics of Income Bulletin (www.irs.gov/pub/irs-soi/09sumbulindcontri06.pdf)
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