asked
I am completing Form 709. I made a $25K cash gift to my daughter. I completed Schedule A, Parts 1 and 4 and have carried over $10K to Part 2, Line 1. It looks like I owe $1800, but I have not yet entered anything in Line 7. What goes here so that the tax liability is deferred?
May 26th, 2024
Where's my Economic Impact Payment? I am 84 years old, located in Wayne, NJ, single, and made $39,000 this year. I have no dependents.
January 27th, 2024
I recently created a PayPal account and had my tax refund sent to it. I don't have an actual bank account but a prepaid Pay Paul card. How do I transfer money or get it out?
December 23rd, 2024
I am using the TurboTax Business version for the first time and need help with asset depreciation schedules. Specifically, I am trying to match my previous years' calculations, where an asset was depreciated using the General Depreciation System, HY, 200DB. However, TurboTax does not list General Depreciation System as a valid depreciation type and keeps selecting MACRS, which shows the asset's depreciation under MACRS on Form 4562, unlike my previous year's return. How can I manipulate the asset worksheets in TurboTax to match my previous calculations?
February 6th, 2024
My husband had a credit card that I was unaware of. The balance was cancelled after he died and I found out about it. My tax person asked me to check if a 1099C form will be sent out. The agent I spoke with last year said he didn't think that would happen. Which tax year are you filing for? Anything else you want the Accountant to know before I connect you?
July 20th, 2024
I became the administrator of my mother's estate in 2020 after she passed away in November 2019. I need to file her 2019 taxes as well as my own 2020 taxes, for which I received money from her 401k, 457k, pension, and Roth IRA. How should I handle filing these taxes, and what impact will the inherited funds have on my income tax?
July 25th, 2024