I have a capital loss on Schedule D for 2009 of $408,000. Can this loss be carried back for the previous 3 years against gains in those years, or has the law changed and I can only carry it forward?

June 19th, 2024

I was laid off 5 months ago and am a single mom with children in college. I have no savings and only $11,000 in a 401(k) from my previous job. I've been working as a Realtor full-time since being laid off, but my income hasn't picked up as quickly as I hoped. If I withdraw my 401(k) money to help get me through for a few months, can I use a hardship exception by writing a letter of explanation to the IRS? Additionally, if I withdraw all the funds for a rollover to a Roth IRA, how many days do I have to transfer that into another account, and if I don't have the full amount, can I then use the hardship waiver with the IRS?

November 19th, 2023

How much income tax do I have to pay on a partial surrender of a life insurance policy? I am going to receive a partial surrender amount of $11,000 and my income is around $30,000. Should taxes be withheld now, and if so, at what percentage?

March 29th, 2024

My estranged wife filed as Head of Household (HoH) claiming herself and our kids, even though I pay all household expenses and child support under a restraining order. We are not divorced, and I believe she may not have been eligible to file as HoH. What are my rights to address this matter, and how can I file my taxes correctly?

January 21st, 2024

I had to take an early distribution from an IRA to help pay a lawsuit. Would this be considered a loss, or will it just be added to my taxable income?

September 18th, 2023