I received a 1099R coded 6 for a 1035 exchange. I know it is not taxable federally, but I live in Massachusetts and can't find if this is taxable in the state. What is the tax treatment of a 1035 exchange in Massachusetts?

March 24th, 2024

I purchased a heavy vehicle at the end of 2023 and depreciated approximately 80% of the cost. I claimed 90% business use for 2023, but this was for only one week of use. In 2024 and following years, since only 20% of the depreciation remains to be taken, what would happen if the business use percentage of the vehicle drops to 60%? How would the IRS respond to seeing the business use percentage drop?

November 20th, 2023

What are the steps needed to revive a single member LLC in California that has had no activity for 14 years and has not filed tax returns and is currently suspended?

September 14th, 2024

We had solar installed last year and spent $50,000. The company said we should get a $12,000 refund, but we only received $2,000. Are we not eligible for the full $12,000 refund? How does this work, and what is the formula for the rebate?

October 28th, 2024

I believe my identity has been stolen and compromised. I received a 1095 form for Health Insurance I do not currently have, which does not match my Employer Provided Healthcare Credentials. What steps should I take to address this issue and prevent it from impacting my taxes?

October 16th, 2023