asked
Can a taxpayer withdraw non-deductible contributions and earnings from an IRA before the income tax deadline without paying a penalty and income tax, or only income tax on the earnings? Do they have to pay a penalty on those earnings if they are not yet 59 1/2 years old?
March 28th, 2024
I'm driving for UBER and bought a car used 100% for this business. Can I deduct all mileages, investments, repairs, gas, etc., from my income? I know there are two different methods but I'm not sure about it. I also do not know if I have to pay tax during the year or only with my tax return next year.
August 21st, 2024
What is a Federal ID number and is it required to settle an estate?
June 4th, 2023
How should I report income from an investment property that is in someone else's name (a family member) and how should I handle the income and expenses if I have a verbal agreement with another person to split profits and costs, even though there is no formal partnership?
July 4th, 2023
I had an investment with Provident Group that was rolled over into an investment in a Dominican Republic Resort, which was later determined to be a Ponzi scheme in 2010. Provident has been asking us to close the account, but we never did due to their fees. Now, they are threatening to report the account as a write-off to the IRS, making us responsible for the income. Can I use the IRS provision in Rev.Proc 2009-20 to claim a loss for this Ponzi scheme, even though I never closed the account and it has been 10 years since the discovery?
December 20th, 2024
I can't finish my electronic return due to issues with the 1099-MISC form, specifically not having a copy of my 2017 return to enter my AGI or a 5-digit PIN, and not having a printer to mail my return. What can I do?
September 11th, 2024