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us easier when she died. But she ended up having to move into semi-assisted living, and now we are looking at huge capital gains taxes when we sell. She will need all the money for her housing, so is there any way to take our names back off the deed so she can keep all the money?
answered on Feb 27, 2017
You should contact an attorney with experience in estate planning. Your mother may be eligible for Medicaid if she hasn't owned the home for 20 years. Capital gains taxes can be reduced if the home is one's primary residence. Before transferring the home back into your mother's... View More 
We had a verbal agreement that we would trade every other year to claim him, but now she decided to claim him before I could. What can I do if anything to get this reversed?
answered on Feb 27, 2017
You can do nothing or you can claim your child as a dependent for tax purposes. If you claim him as a dependent, the IRS will audit you and your former spouse. You will need to prove to the IRS that your child resided with you at least 50% of the year and that you paid more than 50% of his... View More
decree had typo or evil X snuck in he gets 2015 exemptions for kids but i took 2015 exemptions on my taxes since i had kids entire year and the federal irs law said i could and IRS was never going to allow X to take it since he didn't have kids in 2015..so X filed contempt and stupid judge... View More
answered on Oct 8, 2016
This has already been asked and answered: https://answers.justia.com/question/2016/10/07/oregon-i-am-poor-where-can-i-file-a-form-212395
this judge made crazy unfair decision against me and any normal person would be blown away at the judge's decision. There was a typo or Xspouse snuck in decree he gets 2015 exemptions for kids when I had the kids entire 2015. I took 2015 anyways on my taxes. Stupid Judge found me in... View More
answered on Oct 8, 2016
Actually, there is a form you can sign that will give your spouse the dependency exemption for any given year, if other requirements are met. (There is also a form that does a complete transfer of all future exemptions so be careful you don't sign that one.) Normally the IRS rule is that the... View More
My only source of income is my Social Security of $12036/yr. My lawyer said the money was for pain and suffering.
answered on Feb 26, 2016
Assuming your lawyer was correct that it was for pain and suffering, then it is not taxable income. See the IRS' info on this: https://www.irs.gov/pub/irs-pdf/p4345.pdf
paying taxes for assets before i become a US resident.
answered on Apr 5, 2015
The stated facts are insufficient to answer your question. Complete contact form at http://aba-us.com/contact/?lang=en for primary consultation. Good luck.
In 2003, I finalized and adoption and have been carrying the adoption tax credit forward since then. On my 2010 tax return which I prepared myself with TurboTax, TurboTax said that I could request a refund from the IRS for the entire remainder of the credit carried forward, so I did for roughly... View More
answered on Dec 27, 2011
I am not entirely sure on the facts. But if the amount created no tax liability, it would not be correct to have a corresponding penalty with interest. It all depends on when it was "paid." If they had the money they were owed at the time the return was filed, you should not owe any... View More
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