For my daughter's Schedule E, she purchased an additional home and converted her first home to a full-time rental mid-August 2020. She also refinanced it in March 2020, resulting in two 1098 forms for this home. Since she lived in it for part of the year, is it considered a second home? How should I allocate the tax and interest between Schedule A and Schedule E using HRBlock software?

July 15th, 2023

I have been filing weekly benefit claims online for the past two weeks but have not received any payments. I called the number provided in my email and was told by the automated system that my claim did not process. What could be the problem and what should I do?

March 14th, 2024

My mother and I took out a mortgage on the home I live in. My name is on the mortgage, and my mother's name is also on it. We are sharing the mortgage payment, with me paying 30% and my mother paying 70%. For income tax purposes, can we both claim the mortgage interest deduction for the total amount paid during the tax year?

April 16th, 2023

Where do I put the stimulus check I received in 2020?

June 20th, 2024

I inherited a house in 2019 with an estimated sales value of $625k. There was no appraisal. If this is the stepped-up basis and we sold the property for $625k with selling costs of $39k and $15 in improvements, is the capital loss $54? Can this capital loss be rolled forward until used?

April 1st, 2024