Get last year's return file, and look at all items under income and deductions. Based on the prior year, you may already have phone numbers you can call. |
I think it's a major issue for this year. The city is certainly doing it to raise revenue -- and I think it will be a source of revenue for them. |
If you invest in a flow-through entity such as a partnership or S corporation in which you are not actively working 500 hours or more per year, then that is a passive activity. |
If your income is too high, this will be the only type of IRA contribution you are allowed. |
It's complicated because of the calculations you have to go through, and you have to do it for regular tax and for AMT. It gets very complex. |
What's the value of two large trees that got knocked over due to lightning? |