I built a primary residence and moved in June 2007, living there until November 2011. Due to severe neighbor problems, I had to move out and kept paying the mortgage until the home went to the lender in February 2013 via a deed in lieu. I received a 1099-A today with the following details: box 1 has 02/19/2013, box 2 $118,984.82, and box 4 $134,000. The home recently sold for $70,000. Do I need to file and pay tax on this, or what should I do?

April 6th, 2023

My mom put her house in a trust. The house sold a year after her death and I have received the part of the distribution. Is this taxable income?

November 24th, 2024

If a husband dies on December 10, 2013, and the wife sells the house in 2014, can she still use the $500,000 allowance off the capital gains?

May 14th, 2024

We have an online software company that sells software products. We are a two-person company with no employees. We gave out many software licenses for free or at a discount to students, meetups, and open-source non-profit organizations last year. How can we deduct these free/discount sales from our taxes, and do we need to pay any state sales tax for our online business in Texas due to new regulations?

January 30th, 2024

As an IBEW 648 Hamilton, Ohio Electrician employed by an IBEW 212 Cincinnati, Ohio Contractor, can I claim my mileage to and from various job sites? Specifically, can I claim mileage outside of my 648 jurisdiction, and what documentation is required?

May 2nd, 2023