asked
I am filling out Form 8379 for Injured Spouse Allocation. My wife and I filed jointly, but our tax refund was withheld due to her defaulted student loan. She won't disclose her loan balance. How do I proceed with the form, and do I need to know her loan balance to complete it?
October 29th, 2024
My client received a K1 with $25,000 on line 1 and $84,000 on line 16D. I don't understand the Shareholder Distribution. Did she receive stock valued at $84,000? How do I determine her cost basis?
February 4th, 2023
I need help completing a 1040x form. I had no income and received a refund on my original return. How should I fill out the middle column of the 1040x form?
September 16th, 2024
I moved last year for work and the employer paid for all moving expenses and reported them as income. We received a form from the company that has the total taxable compensation at over $98K which included all the taxes they paid on the move. But under box 1 they have Excludable Expenses at $0 and total Taxable relocation expenses (all other expenses) at $69k. If I paid for all these as income which is my expense, what can I write off?
February 1st, 2024
My son is 19 and a college student in Texas. If I claim him as a dependent on my New Mexico tax return, would that have any effect on his status next year as he attempts to claim himself as a Texas resident and obtain in-state tuition rates then? He is also working while he is in school in Texas this year.
October 22nd, 2023
I made $41K this year and had proper taxes taken out, claiming 0. I also received approximately $15K from my mom's death, some of which was taxed. I withdrew a pension plan for $45K and paid 25% taxes on it, plus a 10% penalty. Do they take the $41K, $45K, and the money from my mom, add it all together, and tax it as if I made over $100K, putting me in a 28% tax bracket overall?
November 8th, 2023