I inherited a house in India after my mother's death, who was a US resident green card holder. The property was sold last year, and I am a US citizen. What are the requirements for reporting this transaction to the IRS, including which forms need to be filed for both the inheritance and the sale?

April 21st, 2024

If my dependents don't have social security, just a tax ID, and don't have health insurance, do they still have to pay a penalty?

February 19th, 2023

How much taxes do I have to pay on $603,000 from selling my deceased parent's home in California, and how should the money be divided among my siblings after paying probate?

November 24th, 2024

Instructions for IRS Form 5695 say to include any labor costs properly allocable to onsite preparation. My solar company informed me that my 23-year-old roof must be replaced prior to installation of solar panels. Are the labor costs for roof replacement properly allocable to onsite preparation of the residential energy efficient property?

February 22nd, 2023

When changing the filing status from Married Filing Jointly (MFJ) to Married Filing Separately (MFS) on Form 1040X, is it necessary to file two separate 1040X forms, or should only one spouse amend the original return while the other files a new tax return as MFS?

September 21st, 2024