asked
I added my son's name to the deed of my home 2 years ago. If I sell my home this year, will he have to claim half of the capital gain? If I remove his name from the deed now and sell later this year, will that relieve him of any responsibility? Is there an easier way to relieve him?
August 2nd, 2023
My boyfriend forgot to file my 1095-A when he filed my taxes, and I received a letter from the IRS saying I have 20 days to provide more information. When he included the 1095-A in my taxes, it reduced my refund amount. I was told by the Marketplace representative that the 1095-A documents that I had received insurance and a tax credit for January 2018. Why did including the 1095-A reduce my refund amount, and what should I do about it?
August 23rd, 2023
I have a personal vehicle that is used 95% of the time in my own business. It is registered in my name. How do I enter my reimbursements?
June 7th, 2024
Do you answer questions regarding NYS sales tax? I bought a phone for $450, with a $350 promotional discount, so the actual price paid was $100. But I was charged sales tax on the $450. That doesn't seem right.
January 28th, 2023
How should taxpayers properly report rental real estate income and losses, especially when considering whether to use Schedule C or Schedule E?
February 12th, 2024
What is the correct way to 'book' a section-179 equipment purchase? Should the purchase be directly applied to an expense account or does it need to be entered into an asset account and then depreciated by 100% in a separate journal entry?
December 29th, 2024