Do I only deduct from my basis the discharged debt specifically tied to the property, such as mortgage debt, or do I also need to consider credit cards and other unsecured debt discharged?

September 29th, 2023

Since I live in Florida, do I still have to pay Illinois state taxes on a 457b disbursement I received from a job in Illinois in 2017?

September 30th, 2024

Can I qualify for Earned Income Credit if my income is from self-employment? I will be getting a 1099 from one client and the other client doesn't want to give one. What is the maximum and minimum income to qualify for someone claiming single or head of household with a 22-year-old son who was a full-time student in 2019? What income will get the max EIC? Is there a chart? Do I get more if I earned more toward the high limit?

July 11th, 2024

I'm setting up a special needs trust and need a TIN from the IRS. My mailing address is a PO Box and I don't receive mail at my physical address. What address do I use if the IRS website doesn't allow PO boxes? Additionally, when setting up the trust, the IRS is asking for the date the trust was funded, but I can't deposit the check until I have the TIN. What date should I use for the trust funding? Lastly, what month should I put as the closing month of the accounting year if the trust was established in September?

March 6th, 2023

My ex-husband claimed our daughter as a dependent this year by mistake, even though the divorce decree states I have the right to claim her. He said he is waiting to file an amended return. How long does he have to wait before he can file the amended return, and what should I do in the meantime?

March 14th, 2024