Is there a Pennsylvania tax break if I were to gift my house to my life partner now but remain together in said house, given that my estate is well below the federal exemption level?
February 8th, 2023
I had debt reduction through Freedom last year but did not receive any 1099-C forms. I settled credit card debts for less than what I owed. Do I need to claim that as income since I did not receive any 1099-C forms?
October 27th, 2023
If I received $7700 from a death warrant from a person who died at my work, do I have to pay taxes on that money, even though taxes were taken out before I received it?
August 24th, 2023
Can I deduct the expenses for my master's degree in business analytics from Villanova University as a business expense if I am an auditor and the degree is related to improving my skills in my current profession?
November 29th, 2023
I received a principal reduction on a rental property mortgage from $182,804.73 to $90,441.73, resulting in a 1099-C for $92,363. If this amount is added to my income, I owe the IRS $24k. Is there a way to reduce the amount of discharged debt that counts as income?
January 18th, 2024
I was a victim of a scam involving my rental property's mortgage loan, resulting in a monetary loss of over $10,000. I paid $1,500 to an attorney for suing the company, and later became a class representative in a class action lawsuit that awarded me a $1,500 check. I received a 1099-MISC for this amount. My questions are: 1) Do I need to report this as income and be taxed, even though it only recoups part of my loss and the attorney fee I paid? 2) If I do need to report it, how can I report it with my rental property since Turbo Tax doesn’t allow me to put in an income in a box other than rents? 3) If I do need to report it and can’t report under rental property, how can I make this not “taxable” as I don’t think it should be since I’m just recovering some of my previous loss.
June 27th, 2024