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I need help filing Form 709 for gifting real estate to my daughter and son-in-law. The property is in my name only, and the mortgage was paid off by a gift from my son-in-law's mother. I am married and want to use both my and my spouse's lifetime exemption. How do I properly fill out the form, especially Schedule A, and what does 'gift splitting' mean in this context?
May 12th, 2023
I am filing my 2016 income tax returns as 'married filing separate return' and did not live with my spouse in 2016. What should I consider her on my return: an exemption, a dependent, or an alimony expense only? Her only income for 2016 was from me (half of my gross earnings).
February 2nd, 2024
Are hearing aids deductible, and if so, how can I claim them using TurboTax on my computer?
September 11th, 2023
If I hire someone to do repairs around my house, what do I need to do regarding IRS regulations to ensure neither I nor they get in trouble with the IRS?
September 11th, 2024
Is room and board for a live-in nanny tax deductible, and do I need to report this on any tax forms?
November 1st, 2023
How does taxation work for cryptocurrency, particularly in terms of when you transfer bitcoin back to currency and take that currency out of exchange? I'm about to file my taxes and need to know how to do it properly.
May 16th, 2023