I am the executor of my parents' estate and sold their house in 2020 for $165K. My mother died in November 2018. Does the estate owe income tax on that sale?

July 18th, 2024

My ending tax return in 2018 schedule L is $34,000 different than my opening for 2019 schedule L. Will this trigger an IRS audit?

January 9th, 2024

I make music as a hobby and earn over $400 through online distribution. I am 19 years old, living with my parents, and have no other income. Do I need to file taxes for my hobby income, and if so, how should I report it?

July 29th, 2024

I sold my home in 2020, which I co-owned with my deceased ex-husband. I received 50 percent of the proceeds and am unsure about how to handle the tax implications. I am 71 years old and have not lived in the house for over 10 years. I did not receive a 1099-S form and the house sold for less than I paid for it. How should I report this sale and who should I contact for guidance?

December 21st, 2024

I inherited a brokerage account from my father last year and sold the stocks after it was transferred to me. Can I claim the sale of those stocks as inheritance, or do I have to pay taxes on it? How can I calculate how much I will have to pay?

September 5th, 2024