asked
Taxpayers who have lived in Florida for more than 10 years sold a two-family rental property in Brooklyn, NY in 2021. Is the gain from this sale subject to NYC tax, and if so, where does it get reported on which form? Specifically, is there a place on the NY-203 form for this?
June 21st, 2023
I have received a $25,000 cash gift. Will I need to pay taxes on it? I am located in Tennessee, 74 years old, with no dependents. My husband and I file jointly, and our taxable income last year was about $40,000.
April 10th, 2023
Can I deduct a one-time lease upfront payment from my tax return for a vehicle used for business purposes?
November 30th, 2023
We purchased a Ford F150 mid-2022 and recently traded it in for a new vehicle, receiving about $30K less than we paid. The fair market value at the time of trade-in was $5-8K higher than we received. Can the loss be reported as this is an 'asset'?
February 5th, 2024
If someone leaves you money in an IRA, do you have to pay taxes on it, and what is the percentage of taxes that will have to be paid if you take the entire lump sum to pay off your house?
August 25th, 2023
I received a CP14 notice stating I owe taxes for my 2018 return, which I didn't expect due to the Earned Income Credit (EIC). I followed the instructions to have the IRS calculate the EIC, but they didn't address it in their notice, only acknowledging my income and adding penalties and interest. What should I do to resolve this issue and avoid further penalties?
May 18th, 2023