I have a trust that I received about a month ago, which includes multiple stocks. I want to know how to determine which of the stocks would have the biggest tax responsibility when sold off. In other words, I want to sell off one of them to receive cash for a home improvement, but not if the tax liability would be really high. How do you determine which one to sell off, tax-wise?

January 3rd, 2023

Me and my wife's combined social security benefits this year are $74,000 with no other income. We are located in California, have no dependents, and typically file jointly. How much federal income tax is approximately owed on our social security benefits?

July 19th, 2023

I have purchased a 7.2 kWh battery storage system and am wondering what it takes to qualify for the 30% federal tax credit. Currently, I do not have solar panels charging the batteries and was wondering whether the solar panels need to be permanently installed or just portable panels. Please advise.

June 28th, 2023

Trying to locate a mailback refund for 2019. Where are you currently located? How old are you? Do you have any dependents? What is your typical filing status? Do you know roughly what you made this year?

June 29th, 2023

I own a rental property in Ireland. Is this considered foreign income by the IRS? Do I just report this on Schedule E and take a credit for foreign tax?

April 13th, 2024