I received a 1099-R from my uncle's death for his retirement fund. I was the beneficiary. Do I have to pay taxes on this, and how do I report this to the IRS? This is from 2007.

October 7th, 2023

We are dissolving an LLC that was for our short-term vacation rental. We sold the rental property and our funds are in the LLC account. What's the proper way to remove those funds and avoid excessive or unnecessary taxes on the money? We want to put the money back into our personal account.

April 1st, 2024

I need assistance in filling out a 2005 Form 6252 for an installment sale of a business. My brother and I sold the business in April 2005 for $350,000, after purchasing it in 1985 for $200,000 and making $175,309 in improvements. The buyer paid all closing costs of $49,577.74, and we received $60,000 in principal and $12,107.04 in interest in 2005. The remaining balance of $200,000 is to be paid monthly at 7% over 20 years. I need help understanding how to fill out lines 8, 19, and 21, and whether I should use Schedule D or Form 4797.

May 23rd, 2023

Can a new partner purchase an old partner's basis in a partnership without dissolving it?

January 15th, 2024

I am the trustee for a family trust for a friend who recently passed away. I received a form SSA-1724, Claim for Amounts Due in the Case of a Deceased Beneficiary. I'm unsure if the Trust is eligible for this payment and if I need to fill out the form. The payment would be used for her son who is 49.

June 15th, 2024