Can I file resident tax 'ONLY' in NJ and non-resident tax 'ONLY' in NY for the following scenario: 1) Taking up a new job in NY from Jan 2, 2019; 2) My family will live in NJ with the rental agreement on my name and my wife's name, she is a homemaker; 3) My kids will go to NJ schools; 4) I will have my car and DL registrations done in NJ; 5) I will live in a shared accommodation with the lease in my name and work in Armonk, NY; 6) I will travel over the weekends, during holidays to NJ to be with my family?

March 18th, 2023

In a forced sale of rental property due to eminent domain, one spouse died in February 2008, and the property is in a trust with the other spouse still living. The forced sale was completed in January 2011. How long do I have to reinvest to avoid capital gains tax, if any? Is the revaluation done in February 2008 the new basis for capital gains determination, or only 50% of it? Does taking it as a 1035 exchange compromise the time one has to reinvest?

November 27th, 2023

I received a fraudulent call where I gave the last four digits of my SSN. I reported it, set up credit locks and fraud alerts, and tried to create a 'My Social Security' account but couldn't. Is this due to the credit locks? Do I need to visit a Social Security office to set up the account? How can I monitor if someone is using my SSN? What additional steps should I take to protect my identity and SSN, especially regarding potential fraudulent tax returns?

February 29th, 2024

I lost copies of my tax returns and can supply my social security number. Do you need my social security number to get copies of my tax returns?

January 2nd, 2023

I sold two rental properties acquired via 1031 exchange over 14 years ago. I would like to know the tax implications regarding recapture and the initial investment 1031 tax, including the impact of depreciation taken over the years and the deferred capital gains from the initial investment.

August 21st, 2024