Unanswered Tax Questions
Questions Asked by Users That Have Not Recieved a CPA Response.
View All Tax QuestionsDivorce settlement tax responsibility
Asked onTuesday, August 22, 2023 by DanielleReceived a sum for buyout from marital home and another sum from his IRA to cash to me
Step up in basis
Asked onTuesday, August 22, 2023 by DouglasMy father and his live-in girlfriend executed a warranty deed/life estate for their jointly owned house. I and the daughter of the girlfriend were the remaindermen. My father died, the girlfriend is still living. The house was sold, the proceeds were split three ways using the appropriate percentages. My question is: since my father was deceased when the house was sold can I use a step up in basis when I report the capital gains on Federal tax forms? Thanks.
Bonus Investment Question
Asked onTuesday, August 22, 2023 by KellyI want to know if I put my bonus into a high yield savings account with Fidelity what would the tax percentage be that the government would take out of my bonus?
What am I responsible for?
Asked onTuesday, August 22, 2023 by GlendaWhat if someone put 92,000 in my bank account and then took it all out? Am I responsible for any of that?
Estimated tax requirements to avoid penalties and interest
Asked onTuesday, August 22, 2023 by JulesI have a question about tax penalties and interest Suppose my total tax due was 30,000 last year, and all of that was due to employment. Suppose this year I expect to have about the same 30,000 taxes due from employment, and an additional 50,000 taxes due to long term capital gains for positions sold this year. If I give pay 33,000 in taxes during this year, through a combination of payroll directions and estimated tax payments, then I will owe 47,000 when I file next year (approximately, of course) True or False — since I paid 33,000 in taxes this year (110% of last years 30,000 total taxes due) then the 47,000 I owe and I pay when I file next year will NOT incur a penalty nor interest?
Sending money abroad and receiving it
Asked onMonday, August 21, 2023 by HardikI am looking for tax information if I send some money to my parents in India as a temporary loan and they repay the money back to me in some time. I am trying to understand what are the implications Thanks ,
2017 ammendment
Asked onMonday, August 21, 2023 by DanaI have a question on a ammendment situation. When I filed 2017 one of my dependants should have been removed. Later that year I moved and missed a notification from the irs. They then gave me a tax debt for all of my dependants. The debt for all 3 dependants was took from my 2020 tax refund which was around $9000. I should not have been charged for 2 of the dependants and I am entitled to a refund for the 2 dependants. What do I filed exactly and can I still get a refund for the 2 dependants back?
post retirement taxes
Asked onMonday, August 21, 2023 by alani am preparing to retire. my wife is already retired. her pension will not begin for about 18 months but she will be drawing 1000/mth annuity from a thrift savings plan. i have always filed married filing jointly. should i continue to do so or would it be better to file separately now to save on taxes. I am in north carolina.
State taxes
Asked onMonday, August 21, 2023 by CarolMy preparer fled state state taxes and we do t have state taxes
Curious about which forms I should fill out
Asked onSaturday, August 19, 2023 by KarriemHello, I hope you’re doing well today. I did some self employment work in 2022 but didn’t get my 1099-NEC & 1099-K forms until the beginning of this year. Should I still fill out the 1040-ES payment vouchers for each quarter? Or is there another form I should be filling out since I’ve missed the due dates?