The example for the regular amount skips a step.... its not always the case that the credit will be half of the current years expenses X 20%. You also need to perform a calculation using gross receipts and a ratio of expenses to the gross receipts. you compare the result of the two and use whichever is higher for the base amount. Also, the income addback changed for tax years 2022 and forward.
Hello Ms, Ying Sa, I would like to apply mark to market on my tax for this year (2023). I am an active trader, last year I trade over 1000 transactions in stock. how do I apply for "mark to market" so I can avoid "WASH SALE"? what form do I fill out to elect to "mark to market" ?
Great Info ❤❤
The example for the regular amount skips a step.... its not always the case that the credit will be half of the current years expenses X 20%. You also need to perform a calculation using gross receipts and a ratio of expenses to the gross receipts. you compare the result of the two and use whichever is higher for the base amount. Also, the income addback changed for tax years 2022 and forward.
Amazing thank you Ying so much real facts knowledge you have drop on this video. Looking Forward to hear your Audio Book.
Hello Ms, Ying Sa, I would like to apply mark to market on my tax for this year (2023). I am an active trader, last year I trade over 1000 transactions in stock. how do I apply for "mark to market" so I can avoid "WASH SALE"? what form do I fill out to elect to "mark to market" ?
Hi Tony. We can consult with you on it. Reach out to us via email, info@communitycpa.com.
Sometimes there are intersections between social sciences and other sciences (e.g., COVID-related research, viral spread, social distancing)
As to the example, I don't get why tax credit should be less than $40,000.