Unanswered Tax Questions

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Family Issues

Selling home/trust

Parents deceased home was in a trust! Sold house have net proceeds from sale of house? Are there any taxes that I will have to pay on that (I’m the trustee)?

Asked Tuesday, June 06, 2023 by Eric G.
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Deductions and Write-Offs

I must include the Solar Installation on my Tax Return, but I have not had to file in over 5 years...I'm 73

How can I prevent the monthly deduction for the Solar from not going up If I don't file?????

Asked Tuesday, June 06, 2023 by Barry T.
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Tax Filing Tips

Failed LLC

Ellen Verified CPAs, 10+ years of experience Save time and money. Get specialized help. Pearl Pearl Wilson, Accountant's Assistant Welcome! How can I help with your tax question? You Hello, I started an online ecommerce business (LLC) last year in Kentucky. All start up costs and merchandise was purchased in 2022. Although my business and website were fully functional, I was unable to advertise and market due to a family emergency. So, I'm wanting to know the best way to approach this on the income taxes to benefit my family the most. My total business expense was approx. $17,000. I'm married and file jointly therefore the standard deduction seems to best choice. What would you advise?

Asked Tuesday, June 06, 2023 by Mindy M.
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Personal Taxes

House Appraisal for inherited home for capital gains information

I sold an inherited house, that I did't live in, in Florida last month. The decedent past away a year ago and I wasn't informed to get an appraisal done at that time. Is it necessary for me to get a retrospective appraisal for possible capital gains taxes

Asked Tuesday, June 06, 2023 by bill l.
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Deductions and Write-Offs

AMENDED RETURN

i PAID AND DEDUCTED LONG TERM CARE PREMIUM IN 2022 ON 1040S FORM I .WILL GET REFUND FOR MOST OF IT IN 2023.DO I REPORT REFUND AS INCOME IN 2023? CAN U AMEND MY 2022 TAX FORM .

Asked Tuesday, June 06, 2023 by WILLIAM B.
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Personal Taxes

Needs assistance

Need assistance

Asked Tuesday, June 06, 2023 by Grady A.
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Personal Taxes

Can you advise and help me with taxes on a 1031 Exchange?

I am in the midst of a 1031 Exchange and have many questions regarding the worth of each property and previous depreciation. I am looking for a CPA to do my taxes.

Asked Monday, June 05, 2023 by Roxanne S.
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Miscellaneous

Made 0 in 2022 have to pay both school taxes

My son has not worked in 2 years, does he or (I) have to pay our school district Personal Per Cap Tax and the school district Per Capita Tax? Thank you

Asked Monday, June 05, 2023 by Joice G.
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Nonresident Tax Issues

Failure to Obtain Current W8

If a business fails to update their W8 forms on file when they expire at the 3 year mark, but continue to withhold at the same rate and file 1042s, what would the liability (tax, penalties, interest) be for the business if audited? Would the business be liable for the difference between taxes held and the 30% rate plus whatever the fee/interest?

Asked Monday, June 05, 2023 by Jessica O.
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Credits

2 Tesla vehicle mean two 7500 credits?

Hello, I just got a Tesla and I am looking to get another Tesla however wanted to find out if I buy another Tesla if I will receive two 7500 tax credits one for each vehicle or if it is limited per household. Furthermore if I buy two Teslas that each qualify for 7500 tax credit will I get 7500 or 15000 thanks

Asked Monday, June 05, 2023 by Ryan G.
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