User Submitted Tax Questions
Read Questions Asked by Users and the Answers Provided by CPAs.
View All Tax QuestionsSubmitting fraud
I am trying to determine if a parent can claim a child on income tax if they are not providing any support for that child. If they do claim that child when they are not supposed to, how do I submit that as fraud to the IRS?
Asked onThursday, August 17, 2023 by AnnaCPAs - Sign in to Answer
Inherited sticks
I inherited stocks in a brokerage account. I want to cash out some of the stocks but am concerned about adding money to my income on my taxes. Will this count against my earned income?
Asked onThursday, August 17, 2023 by KevinCPAs - Sign in to Answer
Still time to contribute to 2022 IRA?
I live in California and already filed taxes. With the deadline extension, am i still able to contribute to my 2022 ROTH IRA contributions?
Asked onThursday, August 17, 2023 by JonathanCPAs - Sign in to Answer
AirBnb and Farm Deductions
Specifically looking for info on tax write offs as they pertain to property you live in and airbnb a portion of. I.e. If I have landscaping done, mowing, house cleaning, etc. Are these deductible expenses? Does it depend on how many days room is rented out? Is only a percentage deductible like when you have a home office? How does it work?
Asked onThursday, August 17, 2023 by AmandaCPAs - Sign in to Answer
Federal taxes
Why are no federal taxes being withheld from my check? I have mentioned for the last 6 months to my employer that it wasn’t correct.
Asked onThursday, August 17, 2023 by ToniCPAs - Sign in to Answer
Adding child to state form
Hi. So for the state form I'm claiming myself so I put 1. If I want to also claim my son do I put down 1 for dependent allowances?
Asked onThursday, August 17, 2023 by AlexanderCPAs - Sign in to Answer
Section 121 Capital Gain exclusion from home sale
I am 81 and my wife is 77. We both retired in 2007 and are both on Social Security. We are both healthy with no disabilities. We want to sell our home and move to an independent living retirement center. My question is pertaining to the Section 121 Capital Gains from sale of primary residence. We’ve received conflicting opinions. Previous Home: Purchased in: 2009 Sold: 6/15/2020 Current Home: Purchased: 7/20/2020 Plan to sell on: 10/1/2023 We used the Section 121 exclusion on the sale of our previous home. It has now been slightly over 3 years and we want to use the exclusion on the sale of this home. We have lived in current home over 3 years and it been over 3 years since we used the exclusion on our previous home. My question is can we use use the Section 121 exclusion again on the sale of our current home? Thank you very much, John Blake
Asked onThursday, August 17, 2023 by JohnCPAs - Sign in to Answer
Joint EIN
Ok, so I’m an independent contractor for a delivery business. I have an EIN. I use my wife’s car as the business card for deliveries(mileage write off). My question is can I do a joint EIN so me and my wife will be partners in my current delivery job I have now? And if so, since you can write off either mileage or vehicle expenses, can I write off mileage, and she write off expenses since we would be partners of the sole proprietor EIN and technically she could write off the expenses for her car since it’s in her name and being used for business purposes?
Asked onThursday, August 17, 2023 by MalikCPAs - Sign in to Answer
Mapquest says I can get a Reimbursement from the IRS for a trip?
I’m taking a trip from Arkansas to Idaho, so I got on Mapquest to look at different routes. Next to my route information is says “IRS Reimbursement: $1620”. What are the qualifications for this reimbursement? Does it have to be work-related or can you claim personal miles? Please explain.
Asked onThursday, August 17, 2023 by StevenCPAs - Sign in to Answer
Side Hustles
I am wondering about taxes for side hustles. If you get a refund from a regular job, how would a side hustle that brings in maybe a couple hundred dollars a month to help with expenses affect your refund? How would you even prepare taxes for this? Any information would be helpful. Thank you!
Asked onWednesday, August 16, 2023 by DeniseCPAs - Sign in to Answer