asked
I have $16,000 in a 401k account, am 68 years old, and want to take some money. I need to pay taxes on that. I am unsure about withholding taxes and my only income is from Social Security. Should I withhold taxes on my 401k distribution, and if so, how much?
July 25th, 2024
Made less than $1000 in Illinois, K1 in CA shows about $5000 loss. Do I need to file tax this year? I live in Illinois and have an LLC with my aunt in CA, with a loss of about $10k. The $1000 is through 1099 from a cleaning service, and the $5000 loss is from K1 from the LLC.
November 3rd, 2024
Is there anything else I can help you with today?
February 17th, 2024
My husband hasn't paid taxes for $8000 this past year, and penalties have added up to $19,000. We only get a total of $28,000 a year in social security. I am 67 and my husband is 69. The IRS is already deducting from our social security checks, and we also cannot afford to pay our home property taxes. What can we do?
September 7th, 2024
We have insurance through my previous employer, Walgreens, which allows me to stay on their group plan. Would this qualify as continuing coverage for an HSA? The rules indicate that you normally cannot take a reimbursement for premiums, but an exception is 'continuing' coverage.
April 21st, 2024
I have a 1099 Consolidated for stock options where the basis for some (coded A) is incorrect and correctly listed under a supplemental stock plan lot detail. Do I need to check any adjustment box since the basis was reported but is now different? Please provide IRS references.
August 3rd, 2023