asked
My husband and I are filing jointly. He had custody orders in Louisiana where his ex-wife was the residential parent. She abandoned them in January, and he has had physical custody since. In November, the Louisiana court documents became void, and he is now the primary parent. Can he claim his children, and how do we ensure his ex-wife doesn't try to claim them on her taxes?
January 24th, 2024
My mom died in March this year. I received $25,000 worth of AT&T stock in June. She had held it for many years. What is her cost basis? Does receiving the stock count as income for me? Should I have paid estimated tax? I need to sell about half due to many expenses. Do I need to wait one year to defer paying taxes?
March 10th, 2024
I inherited stock from my mother's living trust. I want to know how to pay for this service, what the cost is, and if I will need to pay taxes on the inherited stock. Additionally, I want to understand how the cost basis for the stock is determined and if I can choose an alternative valuation date.
November 10th, 2023
If a client in California pays for a Solar Panel System in 2017 but it will not be installed until January 2018, will he be eligible to claim the tax credit in 2017 or does the system have to be installed and functioning before he can claim the credit, which would mean 2018? Is there a specific code section that clarifies this?
December 27th, 2023
My property taxes are due on January 15, and I pay every 6 months. My husband wants me to write a check dated December 31, believing we can write it off on our 2017 taxes since the check was dated for 2017 even if it's cashed in 2018. Is that true?
May 18th, 2024
In about 2006, I started dollar cost averaging into several mutual funds outside my retirement plan. The balance has grown, but firms were not required to calculate cost basis until 2012. I may want to withdraw in the near future, but I'm worried about the complexity of determining my cost basis. Does the IRS offer any relief for this work?
May 1st, 2023