Unanswered Tax Questions
CPAs - answer tax questions, and introduce your practice to potential tax clients.
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Capital gains tax
In my divorce we agreed to sell home. We will clear 165000 after we pay off mortgage and HELOC loan. Do we have to pay capital gains tax on this?
Asked Tuesday, May 23, 2023 by Justin M.Sign in to Answer
Visiting nurse
I work as a visiting/homecare nurse and I have some questions about tax deductions
Asked Monday, May 22, 2023 by Michael E.Sign in to Answer
MS state tax
Register with MS if sole proprietorship is service only? (Traveling mua)
Asked Monday, May 22, 2023 by Veronica W.Sign in to Answer
How do I report retirement withdrawals as gift on my tax returns?
Asked Sunday, May 21, 2023 by Karen C.Sign in to Answer
after giving $60k to one person as gift, who will be taxed?
For a one time gift of $60k, Will the giver be taxed or will it be the recipient? Thanks’
Asked Sunday, May 21, 2023 by Angela b.Sign in to Answer
Gambling winnings impacting my 2023 taxes next year
Can I pay some money to the IRS now to offset the impact of my tax payments in 2024? I will have to report about $40,000.
Asked Sunday, May 21, 2023 by Tammi S.Sign in to Answer
tax form1040 2022
how to figure out taxable pensions and annuities on 5b line?
Asked Saturday, May 20, 2023 by Tay P.Sign in to Answer
Stock market stocks and tax
Hello I ran into a really big problem with stocks I don’t know what I was doing when I started stocks and prior before on the year of 2021 I got into a stock that went up on price and I had made around 6 figures plus and I sold it by mistake and I had decided to just hold it instead so I put everything back in to keep my position and I totally forgot all about it and the irs mailed me a form regarding the transaction I have done prior to the time the stock had went up and supposedly I had sold it but in reality I didn’t and I’m still holding my stocks but because I got out and joined afterwards my stock crashed over the course of months and months of holding this stock the irs sent me a letter that I have to pay the tax capital gains of that sale but I didn’t keep any of the rewards I was still learning and I still am and I have never seen the amount of rewards that the stock market can do but I totally lost it and now I received the letter with all of the transactions that was reported but I lost everything after making the decision of going back into the stock and because I sold it at a high price the irs thinks I made money but In reality I left it there and now I’m so afraid because the irs thinks I have all this money but I left it in the stock market and the stock crashed and I been holding this same position since I didn’t know I was going to get into so much trouble now my stock crashed and I have this capital gains taxas bill that is so high extremely outrages help
Asked Saturday, May 20, 2023 by Anthony A.Sign in to Answer
I want to know if i can get out of paying capital gains
We bought a house in irvine ca for 1.1 and want to sell it for 1.4 we bought it in November last year. It is our primary house we have another house that we are renting out
Asked Saturday, May 20, 2023 by Ahmad A.Sign in to Answer