Unanswered Tax Questions
CPAs - answer tax questions, and introduce your practice to potential tax clients.
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Offsetting gambling win
I had a gambling win in 2022. I have huge gambling losses in 2017-2021. Can I "Income average" or similar to offset the one year I won?
Asked Monday, March 27, 2023 by SAMUEL F.Sign in to Answer
Bankruptcy
What form do I file if I didn’t receive a W2
Asked Monday, March 27, 2023 by Dennis P.Sign in to Answer
Teens working
If my teens are employed do I still get to claim them since I am covering all their living expenses? Ages 17 and 18
Asked Monday, March 27, 2023 by Nicole F.Sign in to Answer
Where list cash income
I'm 62, single, no dep., Unemployed, earn $7800 cash sell cords of wood. Paid no taxes. Which line on 1040 do I list this income. Do I qualify for EITC credit refund.
Asked Monday, March 27, 2023 by Jeffrey C.Sign in to Answer
2015 state tax issue
My tax preparer did not file my 2015 state tax return like she was supposed to I was unaware of this until they recently started garnishing my wages now so what do I do can I file a tax return for the state from 8 years ago and they'll stop garnishing my wages I don't know what to do
Asked Monday, March 27, 2023 by Shawna J.Sign in to Answer
Do I have to pay taxes if I make less than $12k?
Can I stop having federal taxes withheld from my checks if I make less than $12k a year? -I file as a single dependent -I am 23 -I live in Georgia
Asked Monday, March 27, 2023 by Alyssa B.Sign in to Answer
Balance sheet
In balance sheet, after the company made sales, where do we record the cost of sales in debit side, is it in cash account or inventory account? Thank you!
Asked Sunday, March 26, 2023 by Melque M.Sign in to Answer
February 2023 repaid social security benefits; report 2022 form SSA-1099 information?
I requested suspension of my Social Security benefits and as required I repaid the received benefits. Suspension was granted in February 2023; do I need to report the information on my 2022 SSA form-1099 even though I repaid the benefits?
Asked Saturday, March 25, 2023 by Corina M.Sign in to Answer
Can I file my little brother as a dependent?
A little background, my little brother is a full-time college student that makes no income. My first question is whether I can claim my brother as a dependent even though my parents also claim him as a dependent. My second question is, how will it impact my tax return if I claim him as a dependent and indicate my contributions as an expense?
Asked Saturday, March 25, 2023 by Avijit B.Sign in to Answer
W4 question
I want to claim 1 on my w4 but it looks like they are taking more out when I do that. Is that correct?
Asked Saturday, March 25, 2023 by Alexa L.Sign in to Answer