asked
For my daughter's Schedule E, she purchased an additional home and converted her first home to a full-time rental mid-August 2020. She also refinanced it in March 2020, resulting in two 1098 forms for this home. Since she lived in it for part of the year, is it considered a second home? How should I allocate the tax and interest between Schedule A and Schedule E using HRBlock software?
July 15th, 2023
I have been filing weekly benefit claims online for the past two weeks but have not received any payments. I called the number provided in my email and was told by the automated system that my claim did not process. What could be the problem and what should I do?
March 14th, 2024
My mother and I took out a mortgage on the home I live in. My name is on the mortgage, and my mother's name is also on it. We are sharing the mortgage payment, with me paying 30% and my mother paying 70%. For income tax purposes, can we both claim the mortgage interest deduction for the total amount paid during the tax year?
April 16th, 2023
Where do I put the stimulus check I received in 2020?
June 20th, 2024
I inherited a house in 2019 with an estimated sales value of $625k. There was no appraisal. If this is the stepped-up basis and we sold the property for $625k with selling costs of $39k and $15 in improvements, is the capital loss $54? Can this capital loss be rolled forward until used?
April 1st, 2024
What if no tax bracket exists and not required to file taxes? Is this an exception or none?
January 19th, 2024