My husband and I bought an acreage in Iowa 40 years ago for $73,000. My husband passed away 2 years ago, and I receive $2200 from Social Security and $400 from a small pension. If I sell my house for $600,000, will I have to pay capital gains tax? What do I need to prove the improvements I made to the house, and am I forced to sell by October of this year?

March 15th, 2023

I need my tax number. What kind of tax number should I look for and how can I obtain it?

September 20th, 2024

I received a life insurance payment from my granddaughter's policy. I am 72 years old, on the aged pension, and now responsible for my great-granddaughter who is 13 years old. I used all my savings for her mother's funeral and her education. How much tax will I have to pay on $255,256.00?

October 24th, 2023

Can you still spread out capital gains on a house sale over 5 years? The house was initially valued at 159,000 and sold for 177,000. I also retired early at 63 and am wondering if I have to report all of the gains on the house at once to social security or if I can spread it out over the 5 years.

March 7th, 2024

If a child turns 18 in 2023 and starts college in 2024, and their legal parent claims them as a dependent on their taxes, will this impact the child's eligibility for grants/scholarships to support their education?

May 18th, 2023