I've sold stock in many different companies this year and have no records of the price or date when purchased. They were purchased at various times and prices sometime in the 80's or 90's and have lost all records and brokerage firms claim they haven't any of the records either. How do I figure a cost basis for them?

August 5th, 2023

My wife and I were both born before January 2, 1943. Last year, my tax preparer claimed tax deductions of $12,300, whereas the standard deduction shown was $10,300. This year, I am filing my own tax return for 2007 and I see the standard deduction set at $10,700. Can I add an extra $2,000 as last year, and how was the extra $2,000 deduction justified?

December 1st, 2023

I am a tattoo artist who made $9825 in cash deals this year with no receipts. How should I report this income and what are the potential consequences?

December 11th, 2024

I used TurboTax online to file my taxes. Last year, my deductions were $43,715, but this year they are $24,334. I claimed 2 dependents last year and 1 this year. What could have caused such a significant difference, and is there anything I should ensure to include if I start over?

June 2nd, 2024

I have a question regarding city taxes and residency. On my city tax return, I have choices for part-year, full-time, and nonresident. The city in which taxes were taken out for was not the city I worked or lived in for the tax year, but my permanent residence is in that city. I have not lived in that city for close to 8 years, but I always list the address there, my parents' address, as my permanent address. I did not have a city tax return problem doing this until I moved to a city neighboring that city last year. My employer then informed me that I would have to pay taxes for that city. So, does my permanent address determine whether or not I am counted as a full-time or nonresident, or does the actual place that I lived and worked count?

May 24th, 2024