My mother-in-law passed away in 2016. Her trust received a distribution of $1496 in 2017, with a taxable amount of $487 reported on the 1099-R. This is the only remaining taxable amount for this trust for 2017. Do we need to file a 1041 for this situation?

March 7th, 2024

Is income from an LLC that I'm the sole member subject to self-employment tax?

June 14th, 2023

I purchased land from my grandparents in 2016 on a contract for deed. I filled out a 1099 in 2016 to report the interest payment. I did this again in 2017 as I have an annual payment to make to them. Their accountant is telling me that I didn't need to make the 1099 for 2017 and should fill out an amended 1099 and send a letter to the IRS. This is a 5-year contract for deed with a balloon payment at the end of the fifth year. I assumed I needed to report the interest each year and not just the first year. Should I fill out an amended 1099 for 2017 as their accountant advised?

October 27th, 2023

How long does the IRS take to return an unsigned tax form, and is a marriage certificate required when filing a 1040 Married Filing Jointly if one spouse doesn't have an SSN and is applying for an ITIN?

December 6th, 2023

I am in the process of divorce and moved out of the family home into an apartment in June 2017. I have always filed jointly with my husband for almost 30 years. I am wondering which would be better this year due to the change - jointly or separately. My estranged husband has communicated that it would be better for both of us if we file jointly, but I don't trust his assessment. Additionally, my divorce attorney mentioned something about me possibly being able to claim my apartment costs if I file separate but not if we file jointly, but she wasn't sure of the details. I live in Michigan, if that matters.

February 29th, 2024