asked
I take care of my mother full-time and live with her. She gives me money to pay my bills. Do I have to pay taxes on this money? I also rent out my house for $750 a month. Would I have to file a tax return on this rental income? Additionally, I would like to collect Social Security when I reach retirement age. If I can, what would the amount I receive be based on, considering the only tax return I would be filing is based on my rental income and stock dividends? Could I still receive Social Security?
April 12th, 2023
I am currently on disability and have not worked for over 4 years. I just started receiving disability as of June this year. I received a letter from the Department of Children and Families stating that I may be eligible for an earned income tax credit. I have also heard that I am eligible for a refund from my dental expenses which were necessary and quite expensive. What tax forms should I use, and can I deduct my medical and dental expenses even though I have had no income for 4 years? Can I go back 3 years to claim these expenses, and do I need help to do this?
April 18th, 2023
In 1991, my husband's mother put her two sons' names on all of her stocks, bonds, savings, bank accounts, and her home. Does the $10,000 gift exclusion per recipient per year apply automatically, or is it necessary to file some form every year with the IRS to qualify?
March 16th, 2023
Do I need to present a tax return if I am 80 years of age?
January 5th, 2024
We are settling a property dispute with our neighbor. Will the funds paid to us be taxable?
December 3rd, 2023
I am 66 years old and still employed. Can I get earned income for my grandchildren living with me?
April 20th, 2023