asked
My sister passed away in February 2012. She had funds in a retirement account where the beneficiary was her estate. I received a Schedule K-1 for my 50% share of those funds. Do I need to pay taxes on this since it was an inheritance and I was not a direct beneficiary of the retirement accounts but her estate was?
April 3rd, 2023
I can't find my tax information from 2003. I thought maybe it would be easy to get it off the internet.
January 18th, 2023
Is it essential to declare entire global property in income tax declaration or only that which gives returns by a green card holder?
July 21st, 2023
I gave a friend a $15,000 loan with no interest and am considering giving another friend a $10,000 loan with 3% interest. What are the tax liabilities if I loan a total of $25,000 this year?
September 12th, 2023
We got married and sold one house, refinanced another, and purchased a new home. We took a loss on the sold house and cashed in some taxable annuities/IRAs to purchase the new home and pay off the old house. What is tax deductible, and how is the income from the IRAs taxed?
November 12th, 2023
I'm selling my house to my son and his wife, gifting 20% of the equity to help them get a loan for the balance. The sale price is $440,000, with an equity gift of $88,000 and a new loan of $352,000. Do I have to pay taxes on the $88,000 gift? The original purchase price was $370,000, and I've been claiming the property as a rental on my tax returns. What happens to the $30,000 in upgrade expenses, and how does this affect my capital gains or losses?
February 23rd, 2024