asked
I am an Etsy seller who started my business in September 2022. I did not qualify for a 1099 from Etsy for the 2022 year, and I live in Michigan. My total profit for 2022 was $1600, but this doesn't account for the cost of merchandise. Do I still need to file a tax return?
April 9th, 2024
If I sell my primary residence in Texas, which I bought in 2007 for $200,000 and is now worth $1,000,000, how much in taxes would I pay, considering I am married and filing jointly?
December 16th, 2024
I'm trying to retrieve my IP PIN number so I can file my taxes. I am located in Greenwood, MS, 58 years old, single, and made about $30,000 last year. I haven't received a CP01A Notice and I've tried everything to get my IP PIN but still haven't received it. What should I do?
May 21st, 2023
I opened a rental car company and am in the process of purchasing vehicles from an auction. They are requiring me to complete a tax exemption form, but I'm unsure how to fill it out. Additionally, I received the articles of formation but no business license. What steps should I take to obtain a business license and correctly fill out the tax exemption form?
April 27th, 2023
I am an enrolled agent and need help with a 1031 exchange and form 8824. Specifically, I need to calculate the basis of a new rental property purchased in a 1031 exchange. The old rental property was fully depreciated, sold for $1,150,000, and had closing costs of $60,000 and a mortgage payoff of $130,000. The new rental property was purchased for $1,150,000, with a new mortgage of $285,000 and prorated costs of $1,800. What is the basis of the new property?
December 21st, 2023
I need to file my 2021 tax return using TurboTax software, but I accidentally purchased the wrong package for a business instead of one for W2. I have already bought the correct package for W2, but when I tried to download it, I received the same business package again. What should I do to get the correct basic package?
May 4th, 2024