I closed 2 IRAs in 2015. The first was no problem and was accepted by my broker. The second IRA check was refused, and I was told to cash it and take out the RMD for the now one IRA. I received a 1099-R form that combines both IRAs into one amount, with a distribution code of 7. The taxable amount is the total of the transferred IRA and the cashed IRA. How do I report this, and do I have an RMD for the IRA I cashed out?

August 23rd, 2023

My sister started a home daycare last year. She lives in a home owned by her husband and paid him $366 per month rent for the space used for the daycare. Can she expense the rent on her taxes for space in a home she lives in with her husband, or is she setting herself up for an audit?

January 12th, 2024

If I filed taxes jointly with my husband last year because he would receive a $8000.00 refund, but if I hadn't, I would have received a $3,000.00 refund. Now I'm getting divorced. Can I have those taxes refiled so that I can receive the $3,000.00 I would have received?

April 2nd, 2023

Stephen, same question for the 1041. How should I sign it?

January 6th, 2023

I understand there is a tax rebate for sales tax for 2015. Where do I claim the tax rebate? On what line? I bought a new vehicle and paid a lot of taxes in 2015.

October 16th, 2024