Unanswered Tax Questions
Questions Asked by Users That Have Not Recieved a CPA Response.
View All Tax QuestionsDeductions when rentinng
Asked onFriday, August 18, 2023 by BeverlyIf you rent a house for below market value can you claim repairs as deductions
Education expenses
Asked onThursday, August 17, 2023 by JessicaI am currently working for an employee as an accountant. I am wanting to open ac for accounting and go back to school, finish my accounting degree and write it off on my llc return. Is that an option?
Submitting fraud
Asked onThursday, August 17, 2023 by AnnaI 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?
Inherited sticks
Asked onThursday, August 17, 2023 by KevinI 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?
Still time to contribute to 2022 IRA?
Asked onThursday, August 17, 2023 by JonathanI live in California and already filed taxes. With the deadline extension, am i still able to contribute to my 2022 ROTH IRA contributions?
AirBnb and Farm Deductions
Asked onThursday, August 17, 2023 by AmandaSpecifically 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?
Federal taxes
Asked onThursday, August 17, 2023 by ToniWhy 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.
Adding child to state form
Asked onThursday, August 17, 2023 by AlexanderHi. 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?
Section 121 Capital Gain exclusion from home sale
Asked onThursday, August 17, 2023 by JohnI 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
Joint EIN
Asked onThursday, August 17, 2023 by MalikOk, 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?