I am selling a portion of my farm land to a university for research. The proceeds will be approximately $1,500,000. I am 65 years old, on Social Security Disability, with no dependents, and the farm generally generates less than $15,000 in annual net income. I have rental income of approximately $30,000 and will have additional rental income of approximately $28,800 gross annually starting in 2021. The land has been in my family for 3 generations, and I am the sole owner. What is my tax liability in 2021, and what is a 1031 exchange?

April 8th, 2024

I moved from PA to Florida 4 months ago and have not received my W-2 from my former job. I called them and they referred me to an app, but it only shows my current job info. I tried to get it through the IRS, but my info does not match their records. How can I find my W-2?

March 22nd, 2023

I need a pen number to complete the filing for my taxes. I am 66 years old, located in Houston, Texas, and I have my grandson as a dependent. My typical filing status is head of household. What should I do to get my IRS PIN?

February 18th, 2024

I accidentally reported dividends as ordinary dividends for tax years 2017 and 2018, which cost me over $900 in tax. Can I file amended returns for those two years to correct this?

March 21st, 2024

A 17-year-old dependent received $17,000 in unemployment and is required to complete Form 8615 due to unearned income exceeding $2,200. After completing the parents' income section, the child owes $4,000 in federal taxes, even though taxes were taken out of her unemployment. Is this correct, and is there anything that can be done to prevent this?

April 5th, 2024