We are going through a divorce. My husband moved out of the home we shared together for 27 years. Our home is for sale, and we are both over 55 years of age. We are still legally married and will file separately for the year 2005. I have lived in the property for 24 out of the last 60 months, but my husband has not. Is he eligible for the one-time tax exclusion of $250,000 due to the divorce, or does he qualify for a pro-rata exclusion?

October 8th, 2023

I am a full-time college student and I work full-time on a job. How much of my taxes will I get back?

March 1st, 2023

Can you provide a breakdown of how to calculate my Illinois state taxes based on my income sources and help me understand how to potentially reduce this tax?

January 4th, 2023

I have a complicated situation with a home property that sold in 2015. The house was transferred between siblings, and my name was added in 2012-2015. My sister has always claimed the house on her taxes as both a rental and residential living. The house sold in 2015, and the check was written out to me for $925,000. How will the property tax gain be calculated, and how should the sale be reported given the complex ownership history?

May 30th, 2023

Can anyone be a tax preparer and sign a tax return, and does it require any special classes or training to sign tax returns for other individuals' taxes?

May 23rd, 2024