I am an author who writes books and sells them. I buy books from the publisher and sell them, but my sales are always less than my purchases. I want to know how to properly account for these transactions and pay taxes only on what I have sold, not on my purchases.

November 21st, 2024

I need to find the adjusted cost basis for two stocks that are no longer listed on the stock exchanges: Sears Roebuck and Royal Dutch Petroleum as of August 21, 1992. We inherited shares of each on that date (date of death) and each were turned in on stock buybacks in 2006. Can you provide the adjusted cost basis figures for me?

April 2nd, 2023

My sister and I inherited my mom's house in 1998. The realty transfer tax rate (taken from the will) was 55,144. The present market value is 95000. I recently sold my sister my half of the house for 3200. Do I have a capital gain and how is this calculated?

February 24th, 2024

If you are over 70 1/2 and still working but roll over your pension to an IRA in May of 2013, is this portion subject to RMD for this year? The IRA had no value at the end of 2012. Can you delay until next year?

December 1st, 2023

My grandma passed away in California and my mom and my aunt inherited her house. I would like to buy her house from my mom and my aunt. How do I go about keeping her Prop 13 taxes?

December 31st, 2023