If I donate books to a library and they keep some and sell some at their annual book sale, may I take a tax deduction for all of the books I donated or just those that the library adds to their collection?

July 9th, 2023

If my husband is retired and has a pension and a 401k disbursement, and I have a wage from my medical secretary job and receive Social Security benefits, would it be cheaper to file married filing separately?

June 6th, 2024

I'm a real estate professional. I sold a rental property at a loss of $50,000 three years ago, which was offset against my income. My income was $170,000, so my taxable income was $100,000. If I sell another rental home this year for a gain of $70,000, my income is $180,000 and other deductibles total $30,000, what is my taxable income? Is it $220,000 ($70,000 + $180,000 - $30,000) or do I have to add back the $50,000 loss from three years ago?

September 2nd, 2023

I overreported my alimony income by $1400 on my tax return. Should I amend my return, even though it doesn't result in a tax savings for me, to avoid potential issues for my ex-husband?

September 30th, 2023

I have a small business set up as an S corporation that I have loaned money to in the past. When I take a payment on that loan, does it have to be accounted for as an S corporation distribution or can it be just a payment against the loan?

November 26th, 2023