How do I record a property sale under IRS Section 1033 on the 2016 tax return, what form does it get reported on, and where do I note that it is rolled into another purchase (1033)?

December 26th, 2023

I redeem approximately $1,000 per month to help with taking care of grandchildren. Taxes are removed during each withdrawal. Does this put me in a higher tax bracket so I am paying more taxes along with what is taken out at the time of withdrawals? I am age 64 and retired and live off of social security, federal retirement check, and a small state annuity from my late husband.

December 16th, 2024

I received a letter from the city of Philadelphia regarding a school tax. It mentions that they received information from the IRS about unearned income such as dividends, interest, and other income. I'm unsure about this school tax and whether I should have paid it, as all my income from work is already taxed.

February 22nd, 2024

My wife and I own houses in Wisconsin and Florida and currently claim Wisconsin residency. I own a consulting business based in Wisconsin but am currently working from Florida. We are considering changing residency to Florida to save on state income tax and qualify for Florida's homestead property tax exclusion. Would it be better for both of us to claim Florida residency, or for only me to claim Florida residency while my wife remains a Wisconsin resident? We also have a large amount of unused capital losses in Wisconsin that might be lost if we both leave the state.

March 22nd, 2023

Can a court order make someone file taxes jointly even if they were legally divorced by the end of the tax year?

March 5th, 2024