I won $1,000 in a scratch-off lottery last year and received a W-2G form. I've always filed using Form 1040A but now I'm told I have to use Form 1040. I'm a senior on Social Security and file as head of household with a 100% disabled son at home. I saved all the lottery tickets and want to know if I can claim my gambling losses. What should I do?

July 23rd, 2023

I want to sell a California single-family residence I purchased 6 months ago for an investment. What is my capital gains tax? Does this qualify for a 1031 exchange?

March 9th, 2023

In 2017, my wife and I received notice from a third party that her deceased father had an open account after the estate was closed. My wife was the executor for this transaction, and the amount was ~$89,000. We just received a 2017 Form 1099. Recipients ID number is my wife's SSN, and the recipient is US Bank N.A. IRA Custodian for my wife's name ABO father's name. This money was split in thirds among my wife, her brother, and the third party that discovered the account. What are the tax liabilities for me and my wife?

January 6th, 2024

If a couple lives together but is not married, the woman has 2 kids, she goes to school, has not worked all year, and the man works, can he claim them as dependents and claim head of household?

April 27th, 2023

My husband and I only have our Social Security income, totaling $20,400 per year. We also make and sell cutting boards at markets. If we receive a 1099 from a customer, how much can it be for before we have to report it?

December 29th, 2023