I acquired a home from a family living trust in 2011, originally purchased in 2006 for $360,000, and sold it this year. The home was appraised for $204,500 when final taxes were paid for the trust. I am trying to determine the correct value to use for capital gains taxes on the sale of the house. What basis should I use for the home, and how does it affect my capital gains calculation?
February 17th, 2024
Is it okay to have a Florida (FLA) trust with a New York address, and if the trust is revocable, can it be amended to change its situs, and what happens to the trust once the grantor passes away?
August 8th, 2023
In Quickbooks, my PayPal account has a credit card chargeback from a sale, which has been categorized into the Sales account. Is this the correct account? Does it matter? If Sales is incorrect, what else should/can it be?
May 25th, 2024
Is the economic impact payment (EIP) the same as a stimulus check, and if I received less than the full $1,400, what could be the reason?
May 4th, 2024
My taxes are being rejected, and I received a letter stating there is no record of my filing last year. I filed with TaxSlayer last year and need a PIN number, but I don't have a copy of my filing. What should I do?
July 16th, 2023
Can I claim the marriage deduction without filing jointly?
October 25th, 2023