Years ago, I purchased a cremation package. Last week, I received a 1099 from the company stating I need to pay tax on interest they received, which they claim they will give to the funeral home when I die. I did not receive any interest myself. Should I report this on my taxes, and could this cause issues later?

March 29th, 2024

I need my IRS PIN because of identity theft. How can I request an IP PIN from the IRS for tax purposes?

December 18th, 2024

If an LLC sells a home that was used for short-term rentals and the profits are split between two parties, is there a capital gain tax to prepare for? Additionally, if one LLC sells the home and the other LLC is paid out (not from escrow), would the monies be taxed the same?

April 10th, 2023

I filed married last year and now we are separated. We have 2 children under 5. Who can claim the children? Can her parents claim the children if they own the house that she lives in?

July 16th, 2023

I inherited a house with my brother, bought his half for $80,000, transferred it to my son's name due to an IRS debt, and later sold it back to my brother's daughter. My son received the 1099-S for the sale but didn't get any money from the house; I did. The IRS also had a lien on the house, so I only received about half of the selling price. How should this be reported for tax purposes, and what is the taxable amount?

July 21st, 2023