asked
My mother is deceased and was a member of the Walmart Class action suit in PA. We received a check made out to her, including wages, settlement award, and interest. The check was reissued to myself and my two sisters as her beneficiaries. When the check was in her name, it included a W2 for the earnings and a 1099INT for the interest. After reissuing, we each received a check without any tax information. Is the $1255.44 we received each taxable income, and if so, do we report the full amount as a 1099 Misc or just the interest portion?
April 12th, 2024
What are the tax and insurance obligations for freelancers in Bulgaria?
December 23rd, 2023
If I have a total of $100,000 in tax-deferred IRA and 401k money, can I convert $25,000 of it to a ROTH IRA, and what are the tax implications?
July 21st, 2023
On Form [/topics-form/] OMB No. 0960-0101, there is a question asking if the surviving spouse was entitled to a monthly benefit [/topics-benefit/] on the same earnings record as the deceased at the time of death. What does 'earnings record' mean?
August 18th, 2024
I received a letter from the city of Philadelphia regarding a school tax. It mentions that they received information from the IRS about unearned income such as dividends, interest, and other income. I'm unsure about this school tax and whether I should have paid it, as all my income from work is already taxed.
February 22nd, 2024
What income sources from my various activities are taxable, and how should I report them on my tax return? Specifically, I earn income from purchasing items for companies at a profit, using discounted gift cards, cashback sites, selling miles, credit card cash rewards, and store mail-in rebates. Additionally, I have returned items to a store without receiving credit, and I am unsure how to handle this loss. Should I register as a business, and if so, what type? How much taxable income do I need to make to be required to file a tax return? Can my dad still claim me as a dependent if I am not required to file?
August 25th, 2023