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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 577
Experience:  10 years experience
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My age is 82. The last time I filed my income tax was 2010.

Customer Question

My age is 82. The last time I filed my income tax was 2010. The reason, the advice from my former accountant. Low Income.
Too low to bother with. I lost my spouse to cancer of the kidney (we fought 7 years) he died in 2011. Fot the next year I fought to get my home sold so I could get some money. We were broke after all the health issues.
So I did ask each year if I should file? No income too low. So I rented out my home partially furnished to a couple.
I made rent money that year.
Then I sold my home after eons of hard work getting it ready including going into debt to get some help.
I still haven't file because I didn't know if I should or where to start.
Reading on the subject of Social Security how do I file my home was supposed to be a tax free situation.
I want to know if I should count it for income? I never went back to the accountant,
I need one. What do I do about Social Security?
Should I file now.
The next question
I have a Trading account. Am I considered self employed.
The next question
I have account where I am considered owner so they sent me tax stuff to send in when I file since my savings account acrues interest.
So I now have two or maybe three now.
I need a life, and have plans to live awhile longer, please help me if you can. I know a tax accountant out in Pekin IL Should I go to him?
Submitted: 8 months ago.
Category: Tax
Expert:  Stephen G. replied 8 months ago.

When did you sell your home and how much of a capital gain to you think you realized?

Expert:  Stephen G. replied 8 months ago.

A "trading account"; what type of account is that? Do you mean a securities account with a brokerage firm? If so, did you buy or sell any securities, stocks and/or bonds?

How much did you 1099-INT report as interest income?

How much do you receive in Social Security benefits?

How far away from Pekin, IL do you live?

Expert:  Stephen G. replied 8 months ago.

Just checking in...............

I see that you have been able to review my response; do you have any further follow-up questions?

If not, please remember to rate my response as that is the only way we receive credit for our work.

Thanks very much,

Steve G.