If you meet certain conditions, you may exclude the first $250,000 of gain from the sale of your home from your income and avoid paying taxes on it. The exclusion is increased to $500,000 for a married couple filing jointly.
1) Your home sale must not have been property you acquired in a...View More
She used plugged in my info from 2 years ago. When I found out and confronted her she started blaming the party that prepared her taxes. When I talked to them they said she came in with court papers and then they hung up on me. I’d like to know what my options are at this point. I’ve already... View More
If your ex-wife filed a joint tax return using your information without your knowledge or consent, this could potentially constitute identity theft and tax fraud. It is good that you have already taken steps to report the fraud to the Identity Fraud Department and the IRS.
I have a traditional federal govt retirment account and a Roth IRA which I started in 2022. Im also over age 60 in 2022. I made contributions not knowing that my household income would exceed the IRA limit. I have not filed my tax return for 2022. I requested a Roth IRA withdrawal for the exact... View More
If you have made a contribution to a Roth IRA for tax year 2022 and your modified adjusted gross income (MAGI) exceeds certain limits, you may be subject to an excess contribution penalty tax. For tax year 2022, the phase-out range for Roth IRA contributions for individuals filing as single or head...View More
I’ve tried to get my dogs back but the police say there’s nothing they can do since these people pay taxes on them. I raised both of these dogs from birth. Is there anything I can do to get my dogs back, please help!
If the domestic orders reference the animals you can bring a contempt action. Otherwise you can't prove the animals were not subject to your ex-husband's control to sell. If the animals were listed as property belonging to you or to be transferred to you as part of the property settlement...View More
My parent passed away 2012. We Auctioned everything expect for almost 100 acres of land and 1 house with land. My sister has been on drugs, in and out of jail. The house and land are still in the estate with the sheriff office in Randolph county WV. Because there was no will an we could not figure... View More
I believe i was told by the court house that if couldnt finish paying tickets by tax time then it would come out of tax return Im just wondering if they take care of it when you file or when the money comes
The state can't intercept your federal refund. West Virginia will offset your state refund if you have unpaid fines. They have to send you a letter and then wait 90 days. They're supposed to anyway. They take out an extra $25 for their troubles. If this is a concern I would file an...View More
A friend and I plan to purchase a property from an individual who owes taxes on it and cannot pay them. We would purchase it for $15,000 and plan to invest $30,000 to renovate it. I have read about short term gains and taxes owed when owning it for less than a year, 1 year or no taxes if it was... View More
Your refund will not be intercepted for the student loan debts of a dependant. If you file as married the return will be intercepted and you would have to file for injured spouse relief (not the same as innocent spouse relief).
You parents may list you, and/or your baby, and/or your boyfriend on their return as dependents if any of you are dependents according to the IRS. The test is presented in publication 501 and can be found here: https://www.irs.gov/publications/p501/ar02.html.
Also, there are federal money-laundering statutes which however I believe apply to transferors, not transferees such as you. You might want to consult with an attorney or financial professional to be sure.
Regardless of the child's age, if the gift is greater than $14,000 per person per year, the donor must file a gift tax return, form 709. If husband and wife want to split the gift they must state show in the form 709.
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