I did a 1031 exchange selling my property in December 2006 and buying a new property in May 2007. I satisfied all the requirements of identifying the new property within 45 days and closing within the prescribed time. I filed an extension in April since the 1031 wasn't going to be completed until May. Now, I need to file my final return and I won't have my 1099 until 2008. How do I report this exchange on my tax return?

June 14th, 2024

I have three children and I always claim one as a dependent and EIC, but law enforcement removed them from my ex's house and placed them with me in December 07. My attorney says I can claim all 3 for EIC. Is he correct? As far as residency, I was told that time at school is considered time with the non-custodial parent. Is that true also?

May 19th, 2023

How much money can a wife, who inherited approximately 3 million dollars from her deceased husband, distribute to her three adult children without incurring significant gift taxes, given that she wants to keep 1 million for herself and distribute the rest as soon as possible?

July 21st, 2023

My ex has filed his taxes and he owes child support. I'm supposed to get a portion of that. How can I find out when or if I'm getting the money entitled to me?

September 18th, 2024

I am possibly receiving an inheritance from a relative who was a doctor in Africa and was recently killed. The amount is several million. I need to know if I need to pay taxes on this, who to report it to, and if there's a way to avoid paying taxes. Additionally, I've been advised to get an offshore bank account for the money. Is this advisable?

August 11th, 2023