I am the executor for my mother-in-law's estate. The only asset is her home, which was valued at $168,000 at the time of her death. She has lived in this home for 40 years and is a widow. She has filed no tax returns for many years since she received less than $20,000 a year from VA benefits and a small retirement. She died on 9/20/20 and the home was sold on 12/18/20. I was told I needed to file a 1041. What is the basis for the property, and will there be any tax implications?
July 5th, 2023
We own a home valued at $425k that we haven't lived in for the past 2 years out of 5. What would be the difference in capital gains tax between selling now and waiting 2 years? I am married with a joint account, and the home was an inheritance gift from our father, paid $1.00 and gifted around 2008.
October 8th, 2023
How can I change my business address on file with the IRS to a non-residential address, such as a mailbox from the UPS store, if I do not have a fixed physical address and do not want my home address on my tax documents?
July 25th, 2023
My son lost his Medicaid card. How would he get it replaced?
June 22nd, 2024
In 2018 on my tax return, I noticed an amount of roughly $3,000 listed as tentative tax. What is that?
September 7th, 2024
Will I receive a stimulus check if I am 69 years old, retired, and receive SSI, but did not receive the first stimulus payment?
January 7th, 2024