asked
Expensing the 59(e) costs does not lower the tax liability and only increases the AMT tax which already is in a C/Forward position. This asset was sold in 2013, and his income will be over $1M mostly at cap gain rate and 2014 and later his annual income will be passive income and retirement income in the $200K range. Will the AMT carryforward credit be usable or wasted?
November 27th, 2023
I claimed 9 all year and made $18,850.00. How much earned income will I receive?
November 10th, 2023
On my husband's W-2, the company listed an amount in Box 12a Code AA, which is designated as Roth contributions under a section 401(k). Am I to list this amount on my tax return anywhere?
July 31st, 2023
My paycheck is currently being garnished through court order for a car loan. When I file my taxes, will they be able to garnish or tax my refund?
August 9th, 2023
My 4 brothers and myself recently sold our parents' home in Florida and we each received a check for $20,000.00 from the sale. Do we pay taxes on the $20,000 and if so, what percentage are we expected to pay?
October 10th, 2023
If you receive money from a deceased relative that they had you as a beneficiary on a savings account, is it taxable?
May 28th, 2023