Unanswered Tax Questions

Credits

EV Tax Credit

I plan on purchasing a Chevy Bolt Euv this year which qualifies for the $7,500 tax credit. My question is how can I utilize this tax credit so that I can get the full $7,500 tax credit. Should I work more so that I owe more in taxes to balance it out?

Miscellaneous

IRS Letter

What doe "waiting for tax account information to become available mean?" thank you

Bookkeeping & Write-up

Intercompany loan and exchange rate realized and unrealized category

We just started to repay a intercompany loan that was made to us in Euros. Of course I have a massive loss. We have paid half of the loan off with 89k in exchage loss. But because of the journal entry, the unrealized loss is currently 84k but I don't know what to do with this. My reading states both go on the PNL but I wonder should the unrealized (or both for that matter) should be on the balance sheet until it is fully repaid and fully realized?

Miscellaneous

Capitial Gains tax in an irrevocable trust

My mother's home was placed in an irrevocable trust in 2022 and the trust sold the house after she passed in 2023. Is the sale of the house subject to Capital Gains tax to the trust or to the beneficiaries? Is so, at what rate?

Investment and Finance

Capitol Gaines

Do you have to pay capitol gains taxes when withdrawing funds from a mutual funds account (non-ira) to purchase a home that will be our primary residence?

Personal Taxes

Taxability of Reimbursement

My divorce attorney did not submit my financial paperwork to the court properly. As a result, I was required to transfer $40K from my 401(k) to my ex-spouse that I wouldn't have otherwise been required to. I have reached an agreement with my attorney's law firm that they will reimburse me the $40K. The law firm has stated that they will not be providing me with a 1099 form in January. Will this $40K that I receive need to be included in my taxable income when I file my taxes next year?

Tax Forms

Filling out W4 for WI salary job 3 kids husband doesnt work

Retirement

Funds Put into Brokerage Account Instead of Simple IRA

My employer has accidentally been putting funds into an individual brokerage account instead of in a Simple IRA. What is the best way to handle this money? Should I close the brokerage account and withdraw the full amount? Or is there a way to transfer it into a retirement account? I would like to know the best way to avoid a tax implication. I do not want/need the brokerage account, but can keep it if that is best.

Retirement

Retired

Want to get, $250,000 from TSP, I know it's 20% fed, 13% state withheld. Will the 250,000 put in in a different tax bracket SC, ?

Investment and Finance

Capital Gains status after acquisition

I have owned stock in VMWare for over 2 years. Broadcom is acquiring VMWare. When (and if) that is complete, I will have an option to either sell the VMWare stock at a set price or have it converted to Broadcom shares at a rate of 0.252 per share. My question is, if I take the share conversion and then sell, would they still be considered long-term gains, or does that clock reset as they are new shares?