Unanswered Tax Questions
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How does it work?
Married Puts: do not affect the holding period of the stock?
I am looking for an official IRC/IRS source to confirm the above. Pub550 does not appear to specifically address this situation. Thanks in advance.
Asked Friday, August 04, 2023 by Jake W.Sign in to Answer
Filing question
If my spouse and I both Bork but he makes more than me, together we made over $100,000 should we be a married filing jointly and should I have multiple jobs or spouse works marked as yes?
Asked Friday, August 04, 2023 by Amber H.Sign in to Answer
Is it more beneficial to be married or domestic partnership?
I'm 34 female, partner 36 male. We live in El Paso tx. We're thinking of getting married or domestic partnership, I make around 87,500 a year and partner 31,200.
Asked Friday, August 04, 2023 by Diana R.Sign in to Answer
Tax penalty
I got my taxes done by someone but the left off my 1099. So now I need to amend my taxes. I’m using free tax USA to do it but I don’t know where to enter the $26.00 estimated tax penalty that on the original return. So my amount owed do match I’m off my that $26.00
Asked Friday, August 04, 2023 by Twana B.Sign in to Answer
Business expense
I have an LLC, and wish to obtain a certificate to further my education in the field of my business. Would that be considered a business expense?
Asked Friday, August 04, 2023 by Ryan M.Sign in to Answer
Wondering about claiming someone I have quardianship of
I have quardianship of a 17 yr old she’s on my link and I’m on disability I’m separated but my husband sees her also and helps with all her things she needs can he claim her on his taxes and her mom thinks she can claim her but we have notarized papers I have quardianship and take care of her
Asked Friday, August 04, 2023 by Roberta c.Sign in to Answer
County tax taken out of paychecks
Hi I’m getting cook county tax taken out of all my paychecks and I’m wondering why?
Asked Thursday, August 03, 2023 by Amber T.Sign in to Answer
Separated
Me and my husband are separated I have quardianship of a girl who is 17 I’m on disability he doesn’t live with us but pays for her clothes schooling etc can he claim her on his taxes I have her on my link but he pays everything else.But her mom says she’s claiming her can she do that since she’s living with me
Asked Thursday, August 03, 2023 by Roberta c.Sign in to Answer
Sale of Inherited Property and Section 121 exemption
There is an estate proceeding open for an intestate decedent, ready for distribution of assets to beneficiaries. One of these assets is a house owned solely by the decedent. Online sources, including state websites, have said that, in New York state, real property automatically vests in the heirs of an intestate estate. An administrator's deed documenting the transfer of ownership has not yet been filed with the county. It has been more than 5 years since this person has died. I understand that property sold within an estate does not qualify for the Section 121 exemption on capital gains tax. Would the heirs, having lived in the house from before his death up until the present day, qualify for Section 121 if the house is sold after being distributed to them from the estate? Is their having title, though not having it documented on a deed, sufficient to meet the "ownership" requirement, or does the IRS only consider ownership as starting once the house is formally distributed from the estate to the beneficiaries? Thank you.
Asked Thursday, August 03, 2023 by Steven G.Sign in to Answer
1099
Hi My parent has dementia and I have been caring for her. Can I pay myself from her money if I have a 1099 and pay taxes on it? And if yes how do I go about getting a 1099? Do I need to be a actual business or is that considered just an independent contractor
Asked Thursday, August 03, 2023 by L J.Sign in to Answer