I am selling my mothers property which is in a revocable
I am selling my mothers property which is in a revocable trust, she passed away in 1999. I am the trustee and also the executor. do I need to fill out the 593 e to base the value of her home at the time she passed to figure the capital gain????JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: the house is in escrow and will be closing next week. I have already filled out the 593 c and now they have given me the 593.... I am wondering if i should fill out the 593 E
JD, MBA, CFP, CRPS
I am the executor and sole trustee of my parent's Living
I am the executor and sole trustee of my parent's Living Trust. I am one of three beneficiaries. My dad had an IRA held by TDAmeritrade and managed by a local brokerage frim. In order to disburse those funds we have to pay the tax on it. I have asked that the funds be wired to the estate account I set up for distribution that has it's own EID--minus the withholding for the taxes. The brokerage firm is set to do that, but they are using my personal social security number, instead of the EIN...so that it will be on my personal tax return. They tell me this is the only way they can process my request because they claim the wording of the trust document is poorly done. My question is, is there a way for me to show all of this on my personal tax return and not be unfairly penalized for having agreed to be my father's trustee? It makes me nervous.
My husband started a partnership LLC with his brother. My
My husband started a partnership LLC with his brother. My husband wants to be removed - however, his brother wishes to retain the EIN number since he plans to continue with the business. Can my husband write a letter asking to be removed? We were told that his brother has to do it in order to retain the EIN number, but his brother is dragging his feet. What kind of implications are we looking at tax wise if my husband isn't removed? Thank you so much for your help!
Am lookin for my ptin number, am trying to get my dad tax
hello am lookin for my ptin numberJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: am trying to get my dad tax return transcript for my school and they only going to release it to me if i file a 8821 form and is askin for a ptin numberJA: Is there anything else important you think the Accountant should know?Customer: and my dad said he dont know what tht is and i want to know where can i find that
I own a home in California. My property taxes are in escrow
I own a home in California. My property taxes are in escrow and included in my monthly mortgage premium. Because of financial hardship in 2015, I did not pay many of my mortgage payments, (which of course includes my property tax payments). I am now in modification with my lender and expect to save the house and continue living in the property. Can I still deduct my total property tax bill for 2015 on my 2015 income taxes?
I am donating several items (clothing, household goods,
I am donating several items (clothing, household goods, etc.) to a local charity (i.e. Salvation Army or Big Brothers Big Sisters), all legitimate 501(c)3. Some of the things I am donating are brand new (i.e. still in the original packages) and others are used. When I list these for later deductions on my tax return, what value do I assign them? Can I write off the new items for the same amount I paid (I have the receipts)? How about the used items? I'd appreciate any help you could give me. Thanks! Karen
Vocational, Technical or Trade School
Ms.,. I applied for my EIN on July 25, 2016 and I have lost
Greetings Ms. Wilson,JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I am J Fitzgerald. I applied for my EIN on July 25, 2016 and I have lost it.JA: Is there anything else the Accountant should be aware of?Customer: How can I get my hands on the my EIN
My friend's husband recently passed away. He has left her
My friend's husband recently passed away. He has left her Life Estate ,social security and his employment pension (contributions by him and his employers) He was 73 years old. Her question is on which income will she pay tax? And as she has a 10 year green card,must she pay taxes on this to qualify for US citizenship.Thanks
My uncle have gave me his home as as I kept up with mortgage
My uncle have gave me his home as long as I kept up with mortgage and property taxes, which I have done so. I have lived here for over 3 years and now all of the sudden he is trying to kick me out so he can move in. Is there anything I can do?
JD, MBA, CFP, CRPS