asked
I just started receiving Social Security income at age 62 and need to pay taxes on it. I've been filing married filing separately due to a long-term separation from my wife. I want to know if filing as single with a separation agreement would allow me to itemize my medical premiums and reduce my tax liability. Additionally, I'm concerned about the implications of Texas not allowing legal separations and whether I can obtain a separation agreement in another state to meet IRS requirements.
August 16th, 2023
My clients are divorcing in 2019. They have short-term capital losses on their 2018 joint return. They live in a community state. How are the losses treated in 2019?
December 11th, 2023
I am waiting to e-file my taxes but cannot file because Form 4562 is not available yet. Turbotax won't let me e-file with the old form. Is there a place to check the status of the form or can I file without it and add it later when it's available?
April 2nd, 2023
I bought property last year and paid $45,000 cash for it. Where do I add that on my 1040, and can I deduct this property?
December 25th, 2023
An American citizen with permanent residence in the UK wants to sell a property in Romania. What taxes will he have to pay in the US and the UK, and how will the foreign tax credit work in this scenario?
January 5th, 2024
If my parents (non-US citizens) bring some cash when they visit, can I deposit the cash without paying tax? I’m currently on an F1/OPT visa and will be submitting my green card application this month. I’ve been in the US for over 5 years but not consecutively. Do my parents need to declare the cash at customs, or is it okay to not declare if they don’t bring over the upper limit amount?
February 23rd, 2023