asked
If a taxpayer transfers her personal residence to an irrevocable trust, does the residence get a step up in basis to fair market value? The trust subsequently sold the residence, and the taxpayer died three months later.
July 2nd, 2024
I need the amount of my SSA-1099 form benefit statement for 2017 to give to my tax preparer. I lost the one that was sent to me. Can I get it online instead of visiting the Social Security office?
August 31st, 2023
Is it true that items donated in 2018 will not be deductible for tax purposes?
July 21st, 2024
Can I add my mileage (7,200 miles driven) to my adjusted tax basis of a home I just sold, which was a potential personal residence that didn’t work out and turned into a very profitable investment property? I made the trips to make home improvements; about a 220 mile per round trip.
May 22nd, 2023
I own a rental property that I plan to sell, resulting in a capital gain. I also own a condominium that I currently live in and plan to convert into a rental property. Can I shelter the gain from the sale of the current rental property by applying it as a reduction to my cost basis in the condominium?
September 16th, 2024
A client of mine, who is on Social Security Disability and now receives Medicare benefits, believes she owes $6000 in taxes because taxes were not taken from her disability income. What is the law regarding taxes on her income tax return, and who can answer this question?
August 23rd, 2023