This year, I invested $50,000 in an equity play with an oil & gas company, and 85% of this amount is tax deductible for tangible and intangible drilling costs. How do I make this deduction on my tax form using H&R Block's Premium software, and can I postpone the deduction to the 2021 tax year?

September 30th, 2024

I'm contemplating starting a new small business and selling a rental property in downtown Denver. What would I need to do to re-invest all profits from the sale of the rental property into my new business, particularly into building a new structure on another property I own in Colorado?

September 22nd, 2023

I inherited a condo and am selling it. For part D "Calculation of gain" do I put $0.00 for purchase price? What does line 9 mean: Consideration. Amount of seller's share of sales price? What should I put on line 11?

October 19th, 2024

I have a check from PayPal that was sent due to an error on my part and I would like the check cancelled and a new one issued for deposit to the correct account. The check was sent to an ill-equipped bank that cannot process the check and was also made out to a forwarding address taken from the email address. How can I resolve this issue?

October 21st, 2024

I own a home in another state and now work for a city board with a residency requirement that I live in the city limits. If I rent or purchase a second home here, may I claim the rent or mortgage payment as an employee expense?

February 2nd, 2023