asked
What is the law for gains and losses in stock trading? Can I only claim $3000/year for losses but have to report all winnings? Do we offset the winnings and losses at the end of the year? For example, if my total gains in various stocks is $20,000, but I lost $15,000 on one stock in the same year, does this just get deducted and result in just $5,000 gain? Or does this mean I can only deduct $3000 for that year? Can you clarify on this law?
July 23rd, 2023
I need to file my taxes for the last 4 years. I didn't work consistently, but I am concerned about my status with the IRS. I didn't receive any forms because I only worked part-time and occasionally. How can I determine my status with the IRS and what steps should I take to file my taxes?
November 14th, 2023
An unmarried couple buys a house together and then splits, with one of the couple buying out the other to keep the house. Can the money used to buy out the other person be deducted?
April 3rd, 2023
What do the beneficiaries do about their taxes in New York if the trust was not distributed until two years later, and I have the trust document?
December 13th, 2024
Can tax liens and tax liabilities be discharged through bankruptcy?
April 6th, 2024
I have a business registered in NJ. The 1099 MISC is from a business registered in NY. While filing taxes, do I need to include this as income in NJ or NY or both tax returns? How do I make sure that I am not double-taxed on this by two states?
April 5th, 2024