A relative is a trustee of my uncle's trust. I am considering filing a complaint with Adult Protective Services on a different though somewhat related matter. So, I don't trust giving my relative my social security number. His attorney says he needs it to file a K1 and a trustee report he needs to file with the probate court. The attorney has also indicated that the trust will be paying the capital gains taxes for the sale of the house (the only asset in the trust). It's been 10 months and he hasn't given any of the beneficiaries a K1. If I need to sue my relative trustee to get my distribution of my uncle's estate that he has given to everyone else, what is the statute of limitations from the time the trustee made the distribution?

January 27th, 2023

We created a single purpose LLC which was used to purchase land, build a home, and ultimately sell it for a profit. My wife is 80% owner, and we have 2 partners with 10% each. I have all expenses, costs, commissions, etc. I missed the 03/15 filing deadline. Can I do this through TurboTax or is it too complicated? Is there a penalty for missing the deadline? Is there a way to request a waiver of such penalty through TurboTax? Lastly, since it is a single purpose LLC, will I indicate that it’s both the first and last return? When we closed on the house, return of capital was wired to the bank account of the LLC, gains/proceeds were wired directly to partners. Does this affect how taxes are reported on 1065 K-1?

October 31st, 2024

My mom had an $800,000 annuity, and my brother and I are listed as 50/50 beneficiaries. My sister is contesting the change of beneficiary, and the case is pending. If the court releases 50% of the annuity funds to me, how can I split that with my brother now, and then if we win, split the other 50% that would be released to him? Additionally, can we deduct the attorney fees incurred due to the litigation from our taxes?

December 6th, 2023

Is it legal to deduct the monthly premium fees I paid for Veterans Group Life Insurance (VGLI) throughout the year on my Tax Year 2017 return?

July 4th, 2023

I retired from federal civil service in 2013 and live in California. Last year, I was part of a reserve voluntary recall to help my agency clear a backlog. The offer was up to two years but in 6-month increments. I worked from January to October in Virginia, renting a furnished apartment, and received no reimbursement for moving or housing, just a salary. Can I deduct the rent I paid in Virginia for the ten months I worked prior to returning to California? Additionally, I have a small business and use my home office all year. While on this temporary duty, I continued with the business and the office in my home in San Diego was used by my assistant. Can I still deduct the home office expenses?

April 3rd, 2024