My husband and I file jointly and we net $60,000 a year in WA State. My dad passed away in February and I received a trust in long-term stocks of about $1,000,000.00. We sold about $401,000.00 worth of stocks to pay off our mortgage. We have one son who is 14. What is our tax rate on capital gains?

July 12th, 2024

I have income and my real estate taxes on my home don't seem to affect the amount I owe in taxes on the 1040. What is the reason for this?

May 11th, 2024

I need help completing a W8-BEN-E form for our UK-based music publishing company that sells licenses to US production and film companies. Specifically, I need assistance with Part 1, Line 5, and Part III. Do we have to complete Line 5, and if so, which NFFE applies to us? Additionally, I have ticked boxes 14 a and b on Part III. Do I need to complete any other details under Part III? Our income is derived purely from sales of music (downloaded). How should we complete Part III for the form, considering the writer is a UK resident who takes 50% of the income paid to us, and we as the publisher take the remaining 50%?

April 11th, 2023

My dependent son received a 1099-R in the amount of $5500 from his father's pension since his father passed away. Do I have to file their own tax return for that Pension amount?

July 24th, 2024

Can I write off mileage from my tractor on a Schedule F, and is it possible to claim a Section 179 deduction on it?

July 21st, 2023