Investment
What Is Tax Form 6781: What It Is And How To Use It
Form 6781 is the IRS form used to report gains and losses from certain financial instruments, specifically Section 1256 contracts and straddles. If that already…
Schedule K-1 (Form 1065): AKA Form K-1
If you've ever been involved with a partnership, S corporation, or certain types of trusts, there's a good chance you’ve come across Form K1. While…
Form 6198: At-Risk Limitations Explained
Taxes aren’t always just about reporting what you earned and paying what you owe. Sometimes, it’s about figuring out how much of your investment or…
Form 8615: A Guide for Parents and Young Taxpayers
Taxes can be a bit tricky, especially when there are rules that catch families off guard. One of those rules involves Form 8615, or the…
Form 8995: Qualified Business Income Deduction
If you're a small business owner, freelancer, or self-employed individual, there's a good chance you’ve heard about the Qualified Business Income Deduction (also called QBI);…
Form 8606: Nondeductible IRA Contributions
When it comes to retirement savings, things can get a little tricky once you start mixing traditional IRAs, Roth IRAs, and after-tax contributions. That’s where…
Schedule D: A Friendly Guide to Capital Gains and Losses
If you’ve sold stocks, mutual funds, cryptocurrency, property, or any other type of investment in the last year, chances are you’ve run into something called…
Tax Benefits of an LLC for Rental Property: What They Are and How to Take Advantage of Them
Rental property is a hot commodity these days, so if you own rental property or are considering investing in real estate, forming a Limited Liability…
