Unanswered Tax Questions
CPAs - answer tax questions, and introduce your practice to potential tax clients.
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1041 K1 form for 2021
Can you file a 2021 1041 form with your 2022 1040
Asked Wednesday, April 12, 2023 by Lesa K.Sign in to Answer
Do i file an extension or send my returns in with a Form 8332
My ex wife filed her 2022 taxes and claimed my son, however, I have an 8332 that gives me the right to claim him as a dependent. Should I file an extension and wait until her taxes are amended or send my taxes in before the deadline with the valid 8332 form. Thanks!
Asked Tuesday, April 11, 2023 by Brian C.Sign in to Answer
My child is 19 in a full time apprenticeship does that count as a full time student?
My child lives with me full time and studying cosmetology in an apprenticeship program. I paid $6000Can I file head of household and claim her as a student? Or is the $6000 a tax write off? I live in Georgia
Asked Tuesday, April 11, 2023 by Laura F.Sign in to Answer
My disabled son gives me $300 a month, is it considered taxable income?
My son is an adult and receives SSI. In order for him to get the full amount he has to give us money. Social Security calls this rent. I know rent is considered taxable income. I also know this question has been asked and answered previously on your platform, but I am not sure the previous answer is correct and I am trying to figure it out. If we add up all the expenses and divide them by the number of people living in the house my son is only paying his share and nothing more. I also take the money and send it right to household bills. I know money collected for household expenses are not taxable. So, who decides? Is my son sharing in household expenses or is he paying rent? Is it considered rent merely because that is the term Social Security uses? There is another program that we get called Home Help Services and I am paid by the state to assist my son. I know this income is not considered taxable because they want to help parents keep these guys out of living situations that would cost the government more money. If they are willing to do that why would they charge tax on the amount he gives me? Thank you for your time.
Asked Tuesday, April 11, 2023 by Jessica L.Sign in to Answer
Reimbursement for mileage traveling to tournaments when a paid coach
I traveled 3027 miles to tournaments as a paid coach. When I put this in the federal tax return it didn’t change by tax return. Do I get any reimbursement for this mileage? Thankyou
Asked Tuesday, April 11, 2023 by J D.Sign in to Answer
How do I report gains on a one time sale of a collectible
I will be selling a collectible purchased in 2017 for a ~$3,700 profit. How would I go about reporting this for taxes?
Asked Tuesday, April 11, 2023 by Ryan B.Sign in to Answer
CPA for starting a non resident LLC
Hi, we are looking for a service to obtain: - LLC for non residents (IT and web consulting services) - State: Delaware or Wyoming or New Mexico - Managed by members - Taxed as partnership - Articles of Organization (if requesterd by the bank) - Operating Agreement - Registered Agent Service - Ein number We know these could be filed by us, but it doesn't matter if you could handle the annual tax files. Even if, as far as we know, the annual declaration is not mandatory for a company configured in this way, if you could provide us with this service (even if only informative) you would be our best choice. Let us know, including one time and annual costs. Thank you and regards,
Asked Tuesday, April 11, 2023 by Emiliano G.Sign in to Answer
We moved from MN to NC mid 2022 and did not update W4
We moved from MN to NC mid 2022. My husband's W4 did not get updated, so he kept paying MN income taxes and nothing in NC. His W2 shows only MN income taxes. How can this be addressed when filing? Do we expect a large return from MN for the months that we did not reside there?
Asked Tuesday, April 11, 2023 by Monica C.Sign in to Answer
I have a question
I claimed my feonces daughter on my taxes and i d was not sure if i could or not now my state taxes are being sent to a reviewer an i going to be in trouble for this when i did not know i couldn't
Asked Tuesday, April 11, 2023 by James O.Sign in to Answer
Do I have to pay taxes?
I want to take 20k to take my name off the deed of a home I co-own. Do I have to pay taxes on it?
Asked Tuesday, April 11, 2023 by Debra S.Sign in to Answer