I am selling my house after a divorce. The house was bought for 220k in 1998, had a fire in 2006 and was rebuilt and expanded. It is now selling for 975k, with a mortgage balance of 320k + 48k in forbearance. I am splitting the proceeds with my ex-spouse, who gets the first 100k and we split the balance 50/50. I used 22 weeks of severance pay for improvements. The house was my primary residence until 2016 when I was evicted. What do I put on my 593 form to calculate my capital gains correctly?

April 11th, 2023

I need to verify my identity per IRS letter 5071c. I tried to call but couldn't connect. Where am I currently located, how old am I, do I have any dependents, what is my typical filing status, and what is my taxable income this year?

May 19th, 2024

I had $50k in short-term losses in the stock market in 2020. I am selling a rental property and would make $50k in long-term capital gain. Can I use my short-term losses to avoid paying capital gains tax when I sell my property?

July 2nd, 2024

I want to change my payment card for my Spotify account. Why is this so hard and how can I do it without incurring additional costs?

October 15th, 2024

I received an auditor’s report on three years of tax returns that did not accept any business expenses and converted them to standard deductions, resulting in an amount due, along with significant interest and penalties. This seems unfair. What are my options?

October 4th, 2024