In a 1040X, how is a capital loss reported and how does it affect adjusted gross income and tax liability? Specifically, if I had a massive capital loss (e.g., 30K), how would I report it and what are the implications for my tax return?
July 3rd, 2024
I am an Australian citizen on an F1 visa, currently receiving a scholarship from a US university to cover my living expenses. I am trying to understand if this scholarship is tax-exempt under the US-Australia tax treaty and whether I need to pay taxes in Australia to claim this benefit.
May 4th, 2023
I have moved from Broome to Canning Vale and need to update my address for my soon-to-expire Social Security card. I am 75 years old, retired since 60 due to knee issues, and have been receiving Social Security since then. I have no other sources of income and cannot afford any additional expenses. How can I update my address for Social Security?
November 11th, 2024
A client drives an 18-wheeler for a company and travels throughout the USA, receiving a 1099 for 2022. Since he doesn't own the truck, he cannot claim mileage. What standard IRS deduction can he claim for food and lodging expenses?
March 21st, 2024
If a deceased parent's parental rights have been terminated, can the child still receive survivor's benefits?
December 6th, 2024
As an S corporation member with 100% interest and self-employed income, who has health insurance under Obamacare and received a 1095A, am I eligible to claim health insurance premiums paid as an adjustment before taxable income? If yes, what amount should I claim as a deduction?
June 29th, 2023