In a partnership LLC with two partners, one partner left in May 2022 and was replaced by the remaining partner's wife. The remaining partner paid the outgoing partner for their share of the assets. When does Form 1065 need to be filed, how is the basis of the outgoing partner calculated, and does the partnership between the husband and wife need a new EIN number?
May 26th, 2024
I bought my house in 2019 for $350,000 and put $20,000 down. We currently owe $332,000 and I’m looking to sell the house for $520,000 and use 100% of the equity to put into another home. Will I have to pay capital gains tax or any tax on that money since I’m putting all of it into another property?
March 5th, 2023
I need information about the stimulus checks that were sent out. Who is eligible to receive them, how much were they supposed to be, and how can I find out if I received all of them? Additionally, what should I do if I believe some checks were missed?
June 2nd, 2023
I purchased two houses with my boyfriend, one as a rental and one as our primary residence. We are both on the mortgage for each house. We are likely going to split up, and he has offered to pay me out of the equity in the houses. How will I be taxed on this payment, and what can I deduct for this year's taxes if that payment is made this year?
October 21st, 2023
A tax refund check was sent to Pathward due to an incorrect bank account number, and I'm trying to track it down. What should I do to get the check or a replacement?
February 5th, 2023
I don't file taxes but they say I must file an e-file. I am 68 years old, retired, and have no dependents. Where are you currently located? What is your typical filing status? Do you know roughly what you made this year? Is there anything else the Accountant should know before I connect you?
September 10th, 2024