Can costs of property and liability insurance, electricity usage, maintenance, and repairs for land and lake cabins used by beneficiaries be included on line 15b of Form 1041, and if not, are there any other deductions available for these expenses?
April 9th, 2023
Is there a Pennsylvania tax break if I were to gift my house to my life partner now but remain together in said house, given that my estate is well below the federal exemption level?
February 8th, 2023
I had debt reduction through Freedom last year but did not receive any 1099-C forms. I settled credit card debts for less than what I owed. Do I need to claim that as income since I did not receive any 1099-C forms?
October 27th, 2023
If I received $7700 from a death warrant from a person who died at my work, do I have to pay taxes on that money, even though taxes were taken out before I received it?
August 24th, 2023
Can I deduct the expenses for my master's degree in business analytics from Villanova University as a business expense if I am an auditor and the degree is related to improving my skills in my current profession?
November 29th, 2023
I received a principal reduction on a rental property mortgage from $182,804.73 to $90,441.73, resulting in a 1099-C for $92,363. If this amount is added to my income, I owe the IRS $24k. Is there a way to reduce the amount of discharged debt that counts as income?
January 18th, 2024