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A friend of mine is getting a divorce, and he always allowed

Good Morning,A friend of mine is getting a divorce, and he always allowed his former spouse to handle all of their finances. Foolishly. After looking at his tax returns to submit to divorce attorney, we discovered the last several years she has been filing their Federal and State Income taxes as Head of Household or Single, alternating years between them. They have never been legally separated to justify a Head of Household or Single status. She claimed tax credits (Home Energy 5375 and HSA 6350 on his taxes, which were completely fictitious. And now, his 2016 return has been rejected several times by IRS.She has been receiving EITC credits and several thousand of dollars in tax refund $$ directly deposited into a separate account from his. Meanwhile, he has been owing the IRS, that thankfully she did pay those. He is petrified.He wasnt he paying attention to what she was doing b/c he trusted her with their money after 20 years of marriage. Not a good excuse, but that is the case. Any possibility he could get Innocent Spouse relief or something like that?Any advice would be appreciated. thanks for your time.

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

5,552 satisfied customers
Are my Medicare and Term Care costs deductions? I pay

Are my Medicare and Long Term Care costs deductions?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I pay $300.00 per months for long term care insurance. Medicare payments are taken out of myState of California Teachers retirement paycheck. Are those payments deductions?JA: Is there anything else the Accountant should be aware of?Customer: Yes...I inherited a property in 2015 and have been taxes on that. I do live in the home...are the taxes in anyway deductions?

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Lev

Retired

Bachelor's Degree Equivalent

25,380 satisfied customers
My client is paying a monthly fee for solar panels. How is

My client is paying a monthly fee for solar panels.How is the credit determined with this method?

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Edward Brockschmidt

Master of Accounting

22 satisfied customers
I purchased a new energy efficient furnace in Feb of 2017.

I purchased a new energy efficient furnace in Feb of 2017. Wondering if I can claim an energy credit for the 2016 tax return I am filling out now?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I purchased a new energy efficient furnace in Feb of 2017. Wondering if I can claim an energy credit for the 2016 tax return I am filling out now?JA: Is there anything else important you think the Accountant should know?Customer: No. I think the energy credit runs out this year, so I would like to take advantage of it if possible.

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PDtax

Owner

Master's Degree

7,898 satisfied customers
I sold an MLP. I had a tremendous loss which shows on my

I sold an MLP. I had a tremendous loss which shows on my brokerage statement. I received around $10,000 on the sale. However, my K1 from the MLP says I have $85000 in ordinary income from the sale. I didn't think this was possible.JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: No

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,512 satisfied customers
I'm working on my taxes and am surprised that I have to pay

I'm working on my taxes and am surprised that I have to pay around $1,000 to $1,400. I am 70, had $7,500 in mortgage interest, $3,800 in real estate taxes, $3,100 in untaxed unemployment benefits, and around $48,000 in earnings from which income tax (1 exemption rate) was withheld, and then I had $22,250 in untaxed social security benefits, after my medicare premiums were taken out. I'm 70.JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: No, except that I guess I will have to change my exemptions from 1 to 0 for my withholding, and I wonder if that will be enough. I have provided a home for my son, a flight instructor, who hasn't made much money the last year, but he's 39. I don't suppose I can deduct anything for that? He's now going off to fly for Horizon Air, so that's not going to be an issue for next year. For today, though, I want to know how much of my Social Security is taxed with my working full-time.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,512 satisfied customers
I have worked with you in the past. I live in the mountains

Hi Stephen. I have worked with you in the past. I live in the mountains of NC. You helped me get a waive of a Corporate Tax penalty. That was my first request for it and it was granted. Now I want to apply for another waiver of about $2000 in penalties. The Form 1020S was filed late to a serious health condition I have. I want to determine the best way to request the waiver so I have the best chance of getting it.

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

10,992 satisfied customers
My client has a K-1 from Enbridge Energy Partners LP. It is

My client has a K-1 from Enbridge Energy Partners LP. It is registered in his name with Rollover IRA. Being in an IRA, is it reportable on his individual return?

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PDtax

Owner

Master's Degree

7,898 satisfied customers
Received a hero loan for energy improvement. $60000. I was

Received a hero loan for energy improvement. $60000. I was told tax deductible. Comes on my property tax bill. I have seen where must be listed though for tax purposes as property tax and deduction as separate interest. I now rent half house.JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: Question. I have a precise schedule of interest and principle broken down. I was wondering if I can deduct principle portion as repairs (half since 50 percent rental)

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Megan C

Master's Degree

30,026 satisfied customers
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