Unanswered Tax Questions

Tax Forms

NC e500

I am a small artist and I'm behind on forms I didn't know would not be taken care of by H&R Block. I've never done this before and I'm not even sure if registering for Sales & Use Tax was necessary anymore.

Personal Taxes

Roth IRA with no income

I lost my job this year but I used 1k from my saving to invest in a Roth IRA. Would I get penalized for it during tax season since I invested without having a job.

Tax Filing Tips

How much do i have to pay for live streaming

How do I know how much I have to pay for live streaming and how much do I have to make before I have to pay, I live in Texas.

Miscellaneous

Lithuanian Charity wants to use US Crowdfunding site for donations - will it be taxed?

I am an American that volunteers with a Lithuanian charity whose efforts support war victims in Ukraine. Since it is not American and thus not a 501c3, we can't post as a non-profit on crowdfunding sites (specifically GoFundMe). If I were to post one where the proceeds would go to the charity, would I be taxed on the donations?

Home Ownership

Tax Implications of Being Added To a Home's Title

If I live in a home with my life partner (unmarried) and she wants to put me on the title of the house, what are the tax implications of that in Utah?

Miscellaneous

Estimated taxes rental.property sale. Purchased 1974 for $23,k selling for $500k claimed depreciation

Payments and Penalties

401k buy out

Will I have to pay taxes if I’m bought out of my current home with them using their 401k money. The amount is 100,000

Nonresident Tax Issues

Inquiry about Tax Obligations for Wyoming LLC and Australian Online Business

Hello three, I recently applied for a Wyoming LLC. I live in Australia and intend to operate online businesses, such as dropshipping. I believe that anyone starting an online business in Australia needs to have their ABN (Australian Business Number) and GST (Goods and Services Tax) applied to online business invoices at a rate of 10%. Thus, my question is whether I have to pay any taxes here in Australia or anywhere else. If not, how should I proceed, like what contact details should I use for the company, and is this approach legal? Additionally, if I encounter any problems, whom should I reach out to for assistance?

Personal Taxes

Working part time on social security

I’m a 70 year old man who is on social security but need to work at a part time job to make ends meet. Taxes are taken out of my SS. How do I figure my federal tax responsibility? I take the standard federal deduction.

Home Ownership

Deductions for Sale of Second home

We recently sold our cabin, which was never rented out, or a primary residence. I came across an article about changes to capital gains after about 2008. I read that if you purchased before that date, the old method applies and you could use a percentage for your capital gains. We purchased our cabin in 1998 and sold in 2023. According to that formula the years prior to 2008 would be exempt, therefore a percentage of 10/25 would be an exemption amount on total capital gains. My question is this ONLY applicable to primary residence. IRS publications are somewhat unclear. Also, what are the criteria if you you sell a cabin because of health issues, do you need some certification from a doctor. Thank you for your help.