Unanswered Tax Questions
Questions Asked by Users That Have Not Recieved a CPA Response.
View All Tax QuestionsGroup Renting
Asked onMonday, April 24, 2023 by EricHi, I was living with a group of individuals in 2022, and the property manager only wanted to receive one payment. So I payed everyone's rent, and then received etransfers from each of them for their portions. I provided them rent receipts so they could claim it on their taxes. In my case, what should I put on my return? Do I claim all of the funds, and then the other individuals portions as income? Or just the part that I paid? Thanks, Eric
Amended Taxes
Asked onMonday, April 24, 2023 by KeelyIn 2020 I was notified by the IRS that I owed additional taxes due to a 401 k withdrawal which I paid in 2020. Can this amount be included in my 2021 taxes? If so where and how?
Non residence NC state income tax
Asked onSunday, April 23, 2023 by DennisI work for a company in North Carolina but I reside in Texas. My company has not been taking out state income tax on my check. Am I required to file a North Carolina state tax return.
How to avoid taxes in sale of primary residency using installments
Asked onSaturday, April 22, 2023 by BrantleyWe are considering selling our primary residence on an installment plan - so effectively financing a loan for the buyer. I've seen about reporting using an installment plan, but we would like to avoid paying taxes as if the home was an investment. We are concerned that the loan will extend past the 5 year test for residency to avoid paying taxes (loan is for 6 years). Is there a way to avoid taxes in this situation the same way as if the home had been sold for a lump sum?
Dormant s-corp
Asked onSaturday, April 22, 2023 by AldwinHello, I have a dormant corporation but i never filed my form 2553. I just did a dissolution with my state. Is there anything i have to do with the irs?
Taxable or not
Asked onFriday, April 21, 2023 by JacquelynI am withdrawing from an annuity to reinvest in prescious metals. Do I need to pay tax on the withdrawal?
US social security payments
Asked onFriday, April 21, 2023 by KenMy wife does not pay tax on her US social security income. When filling out my canadian income tax return, do I need to declare that money as her income? This would be when claiming her as a deduction and possibly splitting part of my pension with her.
IRA tax witholding for both state and federal
Asked onFriday, April 21, 2023 by AdamHow much taxes do I withhold on withdrawal of my simple IRA besides the 10% penalty for the early withdrawal.