asked
Dear TaxMomNJ, you just answered my question about an error concerning mortgage interest on tax returns. Since Tony had no 1098 to submit, could the tax prep person have extracted figures from past returns she prepared for Tony when he filed jointly with his spouse? The error is $20k more than it should be and repeated for 3 years of returns. He should not have signed. This tax prep person has an office in her home and does not work for a company.
November 23rd, 2023
What should I do to receive my social security check for last November that I haven't received despite visiting the S.S. office multiple times?
November 20th, 2024
As a 23-year-old college senior claimed on parents' tax return, I received a merit-based scholarship that did not specify its tax status or that it must be used for tuition and fees. The scholarship uses the term 'cash award' and requires me to meet university obligations before any extra cash is disbursed. I am unsure if this scholarship should be counted as income and if my parents can claim the related expenses. What specific IRS code section deals with this issue?
October 3rd, 2024
Do I need to file a 1041 with all zeros and submit a 1040 for 2018, or omit the 1041 for this year, given that I have a fiscal tax year from the date of death till September 30, 2019?
November 14th, 2023
Do I have to pay taxes on the sale of a house that I inherited in 2012 for $80,000? My sister received a tax form for the sale for $72,000 that we split, and her accountant is saying she owes taxes on the proceeds as income.
February 29th, 2024
As a sole owner of an LLC, do I need to file a W2 during tax time? Am I considered an employee of the LLC? If I'm a disregarded entity, what do I file at tax time? Do I need a separate business checking account? How do I pay myself? Do I need to make estimated tax payments every quarter?
February 8th, 2024