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Kentucky Tax Law Questions & Answers
1 Answer | Asked in Tax Law for Kentucky on
Q: Do you file taxes if your working part time and collecting SSI.68 yrs.old?
James L. Arrasmith
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answered on Feb 22, 2024

If you're working part-time while collecting Social Security Income (SSI) and are 68 years old, the need to file taxes depends on several factors, including your total income, the source of that income, and your filing status. Social Security benefits, such as SSI, are not taxable income by... View More

1 Answer | Asked in Tax Law and Business Law for Kentucky on
Q: Can my business partner pay off my boat and vacation home instead of paying me by check? If yes, would I still owe tax

I was wondering if it is done that way, would we still have to pay capital gains

James L. Arrasmith
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answered on Feb 22, 2024

If your business partner pays off your boat and vacation home instead of paying you by check, it would still be considered a form of compensation for your services or ownership interest in the business. This means that you would likely still owe taxes on the value of the boat and vacation home... View More

1 Answer | Asked in Tax Law for Kentucky on
Q: As an international student, am i allowed to include the 1098 T while filing the taxes?
James L. Arrasmith
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answered on Feb 22, 2024

As an international student, you may be eligible to include the 1098-T form when filing your taxes in the United States. The 1098-T form provides information about qualified tuition and related expenses paid to an eligible educational institution, which can be beneficial for tax purposes. However,... View More

1 Answer | Asked in Immigration Law and Tax Law for Kentucky on
Q: i am an international student, and i currently dont have any schoalrship amount in my tution amount.

so, do i need to file my 1098-T form while filing the taxes.

James L. Arrasmith
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answered on Jan 30, 2024

As an international student in the United States, you might receive Form 1098-T if you have paid tuition or related expenses during the tax year. This form is typically used by students to claim education credits like the American Opportunity Credit and the Lifetime Learning Credit.... View More

2 Answers | Asked in Immigration Law and Tax Law for Kentucky on
Q: can i as an international student in usa, buy and exchange stocks in platform like robinhood? and if there is restrictio

and if there is restrictions, what are they?

Syed Ali Hussain Lahooti
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answered on Jan 11, 2024

It's crucial to grasp the distinction between employment and investment. While some argue that making money through investments could be seen as work, especially when you're dutifully filing taxes, it's essential to play it safe. As a non-U.S. resident here solely for studies,... View More

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2 Answers | Asked in Immigration Law and Tax Law for Kentucky on
Q: can i as an international student in usa, buy and exchange stocks in platform like robinhood? and if there is restrictio

and if there is restrictions, what are they?

James L. Arrasmith
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answered on Jan 9, 2024

As an international student in the USA, you generally have the ability to buy and exchange stocks on platforms like Robinhood. However, there are certain requirements and restrictions to be aware of.

Firstly, you must have a valid Social Security Number (SSN) or Individual Taxpayer...
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3 Answers | Asked in Estate Planning, Real Estate Law and Tax Law for Kentucky on
Q: My mother sold an acre of her life estate that my sister will get. The check was in my sister's name. But my mom got it.

The tax preparer told my sister to have my mom report it on here taxes, but the 1099-s is my sister's name. Who reports it?

Vincent Gallo
Vincent Gallo
answered on Mar 12, 2023

If your mother was the owner of a life estate and she sold her interest in the life estate then the proceeds from the sale should have been earmarked for your mother only and the 1099-s should have consistently named your mother as well. Once your mother received the proceeds, unless there are... View More

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1 Answer | Asked in Real Estate Law and Tax Law for Kentucky on
Q: If property is sold to someone and they do not have it recorded in county clerk office

You have them to get this out of your name and there is tax's owed against it in your name what is my rights

Anthony M. Avery
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answered on Oct 26, 2022

The tax owed is a lien against the land, not the owner personally. Owner's name is listed so he gets a tax bill. Notify the County taxing authorities of the change of ownership, but do not be surprised nothing changes until the deed is of record.

2 Answers | Asked in Employment Law, Tax Law and Traffic Tickets for Kentucky on
Q: a citation for not having a permit paper cause I was wanting to learn how to drive I lied about permit what will happen

I lied about having a permit cause there was 3 police cars Kentucky is church bell im trans I was just wanting to learn I wish I can go back and tell them I was just trying to learn how to drive what will happen in court ? Or the outcome will I be in jail for along time it’s my first ever law... View More

Timothy Denison
Timothy Denison
answered on Jul 17, 2023

Probably diversion or some probated time. Not likely any jail time.

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1 Answer | Asked in Family Law, Tax Law and Child Support for Kentucky on
Q: I pay arrears on cs . my case was sent to the irs. can i get the offset stopped via undue hardship & if so how? Thanks

I was ordered to pay cs for 6 yrs on my two kids. 2 seperate cases. i have done 180 days x2, plus got 2 seperate felonies. one for 2 yrs and one for 1 yr. I am primary custodian again and have them back in my home fulltime. My aunt who had them is no longer in the picture and drew a kinship check.... View More

Timothy Denison
Timothy Denison
answered on Apr 26, 2022

You can seek a hardship exemption by filing g an application with the IRS.

2 Answers | Asked in Divorce and Tax Law for Kentucky on
Q: My divorce was final Dec 2020. We filed joint taxes on the 2020 return. My ex called and asked for a copy.

I assume I'm legally obligated to give her a copy? Sorry, I just have no trust in her intentions.

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Mar 7, 2022

Yes, since you and your ex filed a joint return in 2020 she is entitled to see a copy because it involves her.

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2 Answers | Asked in Real Estate Law, Tax Law and Arbitration / Mediation Law for Kentucky on
Q: Late September earlyOctober 2020 I noticed my neighbor's property up for sale by owner Had a verbal agreement

Purchase a home and offered asking price if the seller agreed to close before the end of the year

Seller agreed no less then 3verbally ie phone 4 in person seller remove the for sale sign from the yard only to change their mind and not sell to me

don't know if there's... View More

Jerome P. Prather
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answered on Aug 30, 2021

Under Kentucky law, contracts for the sale of real estate generally must be in writing before they can be enforced. KRS 371.010. A lawyer may be able to help you with your specific situation.

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1 Answer | Asked in Tax Law for Kentucky on
Q: would a future spouse be liable for an IRS debt that i have now?

I live in Kentucky

Linda Simmons Campbell
Linda Simmons Campbell
answered on Apr 19, 2021

A spouse is only liable for taxes that are filed jointly with their husband or wife. Having said that any assets that you hold jointly may be subject to lien or levy. For example, if you own a home together the IRS can seize your half of the equity in the home.

Your best option, if you...
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2 Answers | Asked in Tax Law for Kentucky on
Q: state taxes are not being taken out of my paycheck.

me and my fiancé were asked to move here from Florida to run a warehouse for the company we work with. we just recently found out that Kentucky has state taxes but our company has not been taking out state taxes on our paychecks. How do we fix that? Will that mean that we will owe money when we... View More

D. Mathew Blackburn
D. Mathew Blackburn
answered on May 18, 2020

Check with HR to see what address they have on file for you. You're likely still listed as living in FL so you haven't been setup as a KY resident for payroll. Another problem could be that you need to update your W-4 for state withholdings.

Your taxes are your responsibility. If...
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1 Answer | Asked in Contracts, Tax Law and Landlord - Tenant for Kentucky on
Q: Do my Leasing Office have a right to request a copy of my Income Tax if I live in Subsidized housing?

I live in Subsidized housing (rent based on income), recently the re-certification person requested a copy of my 2019 Federal Income tax in order for me to be re-certified. I feel that she was being nasty for no reason and unprofessional, simply because I was the ONLY one that turned in my tax... View More

D. Mathew Blackburn
D. Mathew Blackburn
answered on May 17, 2020

I would review the documents provided by the program under which your housing is subsidized. Just pull the documents directly and see what they say. Then if you feel that the landlord has requested too much you have documentation to backup your claim and contact information for the organization... View More

2 Answers | Asked in Tax Law and Child Support for Kentucky on
Q: Covid-19 stimulus check and back child support.

My wife and I filed jointly in 2018 I made more than her that year. We also have two children 5, and 7. I own back child support. Will they not give my wife and children their Portion of the stimulus check? Also if it is offset will it go to my back support? I have read the 147 page bill signed... View More

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Mar 31, 2020

In light of the moment-by-moment changes being made to federal, state and local laws as all the governments try to handle all aspects of the Corona virus pandemic sweeping the world--and all the new financial tricks going out of Washington--I have decided not even to try to answer any of the scores... View More

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1 Answer | Asked in Family Law and Tax Law for Kentucky on
Q: My girlfriend and the father of there kid filed there taxes together but now the father is not willing to give the money

It was agreed and have messages

Timothy Denison
Timothy Denison
answered on Mar 19, 2020

Then you’ll have to go to court to get it unless you have any way to offset it.

1 Answer | Asked in Tax Law for Kentucky on
Q: If I sell a house to my nephew with a quit claim deed is there any tax implications to myself or my nephew?
D. Mathew Blackburn
D. Mathew Blackburn
answered on Jan 2, 2020

It depends on what you sell it for. If you sell for more than what you purchased it for plus any adjustments (adjusted basis) then you'll have capital gains. If you gift it you'll have a reporting requirement but likely no tax will be owed on the transaction. If you sell it for... View More

2 Answers | Asked in Contracts, Tax Law, Business Formation and Business Law for Kentucky on
Q: Best small business structure llc, or s corp?
D. Mathew Blackburn
D. Mathew Blackburn
answered on Nov 30, 2019

That depends on a number of additional factors. An LLC is almost always better than nothing. And the S-election requires an entity to be accepted. So the LLC is essentially a foregone conclusion. The question becomes to s-elect or not.

That question becomes first an issue of eligibility....
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1 Answer | Asked in Tax Law for Kentucky on
Q: My father deeded his farm to me and my brother a month before his death.. He made a will at same time giving us everythi

His wife fought will and deed.. We settled with her for $35,000. How do I figure cost basis of property for tax purposes. Was is gifted, bequested or purchased?

D. Mathew Blackburn
D. Mathew Blackburn
answered on Aug 2, 2019

It's going to depend on the language in the settlement. That will determine when the property passed, whether as a gift or as part of the estate. If the settlement did not address the issue then I would think the gift would stand as completed and carryover basis would apply. It would be... View More

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