I'm in the process of closing on a house I've owned for a year, which is a second home. I'm wondering if the new capital gains tax laws will apply to this home sale and if I may be able to have a 0% tax rate since I will make $44K or less from my regular income. Additionally, I purchased the home for $65,000, invested roughly $20K, and there will be $16K in realty fees at closing. The sale price should be $274,900. I'm being told my capital gains will be roughly $173,900. The house has just sat for a year, no rental history while I owned it. Are there any deductions that could be used to reduce the gain?

May 1st, 2024

What type of tax should a student pay during an internship in Germany, given a fixed monthly payment of 2,200€ and a previous part-time student job with hourly pay?

June 5th, 2023

If someone's status changes from disability to retirement, are they allowed to get a part-time or full-time job without jeopardizing their benefits, given that their monthly funds are insufficient?

April 23rd, 2023

Would you please send me IR3 forms to complete my tax return? I don't have current access to the internet. I am 77 years old, located in Northcote Auckland, and have no dependents. I also have a bank account in Australia with inheritance tax from my mother. Is this taxable in Australia and New Zealand?

October 23rd, 2024

I filed my taxes with TurboTax earlier this year and it appears that I was signed up for some type of card. How can I get this card sent to me, or have my tax return sent to my Chime account?

May 16th, 2024