asked
I moved to Maryland in 2020 and am selling my rental property in DC for $1,075,000. After expenses, I'm netting $776,000. How much do I pay in IRS, Maryland, and DC taxes, or what is the best way to minimize capital gains tax? I was considering investing in DSTs but am $10,000 short of the $1 million requirement. The property is a 4-unit apartment building, initially won in a DC lottery for $1,000 and fixed up with a $155,000 bank loan.
May 14th, 2024
If I have a shop that I rent and it needs to be repaired, should I expense the whole amount or depreciate it?
February 24th, 2023
Can you tell me how much I have overpaid the past couple years? I need to know the credits with the IRS as I finish filing my 2022 tax forms.
July 28th, 2024
Elijah is single. He has a $35,500 AMT credit from 2021. In 2022, his regular tax liability is $88,750 and his tentative minimum tax is $75,438. Does Elijah owe AMT tax in 2022, and how much of the AMT credit can he use in 2022?
June 11th, 2024
How do I get my IP PIN?
November 2nd, 2024
I'm trying to use funds from my middle class tax refund, but my card keeps getting declined. I haven't withdrawn the money yet because I was saving it for my husband's funeral. I've tried calling the number on the back of the card and went to my bank, but it still says declined. What can I do to resolve this issue?
July 13th, 2023