My wife and I sold a home in 2021 making a 40K profit, claiming it on taxes under the Capital Gains Exemption. We have been approached about selling our other rental property, which is more expensive. Can we amend our 2021 taxes to pay Capital Gains taxes on the 2021 sale, and then be eligible to claim the capital gains exemption on the rental property sale in next year's taxes?

June 18th, 2024

I would like to find out about my stimulus check. I don’t know who to talk to.

June 17th, 2024

My wife and I worked as proctors for NCEES last year and received W-2 forms for $788.00 and $900 each, marked as nonemployee compensation. We are located in Florence, OR, aged 72 and 73, with a joint filing status and a total income of $35,000. Do we need to file these W-2 forms?

September 4th, 2023

I filed my taxes on TurboTax and accidentally entered the wrong account number. I called TurboTax and they said they can't fix it and referred me to the IRS. What should I do to correct the account number and how can I contact the IRS to resolve this issue?

May 21st, 2024

My son passed away in 2015 and left an inherited IRA worth $90k, which was distributed last year with a value of $170k. I received a 1099-R and included a K-1 for my wife and me as beneficiaries when filing estate taxes. Now, my taxes are showing I owe $40k in taxes. Does this sound right?

May 21st, 2024