As a G4 visa holder, what capital gains tax will I pay if I sell my house and do not reinvest it in another home? Additionally, if my house needs to be sold as part of my estate, how can I structure the estate so that my beneficiary (my son who is a US citizen) does not incur capital gains tax?

May 16th, 2024

What is the capital gains tax rate in Ohio and is it governed by statute?

April 1st, 2023

If I inherited $10,000 from my parent's estate and put $5,000 in a CD and $5,000 in an IRA CD 5 years ago, and cashed the IRA CD 2 years ago, is the IRA taxable or just the interest?

January 23rd, 2023

My wife inherited a 1/10th share of her father's home. The home was sold to settle the estate, and her share was under $6000. How do we claim this on our income taxes, and is this money taxable? Additionally, at the time of her father's death, the property had an assessed value of $120,000. The house was left unmaintained, and a new septic system had to be installed, which came out of the sale price. The house was finally sold for $80,000, resulting in a loss of $40,000 divided into the 10 shares. How do I report this with no gain and a shared loss of $40,000?

June 27th, 2023

I have lived in the USA for 1 year now, have a legal social security number, and have filed my income taxes while working in Florida. No employment-related documents have been filed or reported. What should I do next?

October 19th, 2023