I inherited an empty lot from my mom who paid $10,000 for it in 1980. We paid taxes on it for years and recently sold it for $12,000 after it was reappraised at $22,000. Is the sale considered a loss, and are there tax implications or credits for the years we paid taxes?
June 12th, 2024
Why can't someone talk to me, because you didn't send my taxes in?
April 19th, 2023
I need help entering Cost of Goods Sold (COGS) information into TurboTax using the Easy Step method. Where should I enter this information, and do I need to change anything in my profile?
July 3rd, 2024
How do I report Section 1256 losses in a stock trading business where I also have personal Section 1256 losses? I have 1099-Bs for both accounts and use Form 6781 for the personal account. What form should I use for my stock trading business to avoid mixing personal and business transactions?
April 3rd, 2024
How can I get my 2021 Adjusted Gross Income (AGI) if I don't have access to my IRS account and don't have the funds to pay for it?
March 2nd, 2024
I need to get my W2 from 2021. Where are you currently located? How old are you? Do you have any dependents? What is your typical filing status? Do you know roughly what you made this year?
April 23rd, 2024