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I had a stock fund that paid a dividend in 15 that was used

I had a stock fund that paid a dividend in 15 that was used to purchase more stock. I sold the stock in 16 I think, if have to can verify, at a loss. The IRS says I owe taxes on the dividend. First, is that true? Second Can I carry back the loss to 15 from 16 to negate the tax?

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Lane

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Robin, I own a home in NC, but worked in the US Islands all

Hi Robin, I own a home in NC, but worked in the US Virgin Islands all of 2012 and 2013. I only had income from the USVI in those years. I was recently notified that I should have filed an NC tax return. I was a full time resident of the USVI and paid taxes there. There was no NC income only expenses related to the house. The house was vacant during that time. Why do they consider me a resident and do I need to file a return with NC for those years?

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Lane

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For a person working "off the books" how can this person pay

for a person working "off the books" how can this person pay taxes if this person is working under the tableJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: this person works in a family owned tire shop but gets payed cash not checks how can the worker (employee) be faithful by paying his taxes.JA: Is there anything else important you think the Accountant should know?Customer: just to be clear this person wants to pay taxes but how can he do that if he works under the table.

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

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I am an independent contractor with sub contractors should

I am an independent contractor with sub contractors should in file an LLCJA: Can you tell me what state the LLC is registered in?Customer: TexasJA: Has anything been filed or reported?Customer: noJA: Anything else you want the lawyer to know before I connect you?Customer: had to pay a lot of taxes

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Lev

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I'm starting a new job in two weeks. The way I'll get paid

I'm starting a new job in two weeks. The way I'll get paid is commission only if I make sales quota. If I don't make quota I will get paid minimum wage. My question is what percentage of my commission will be withheld from my paycheck? And do I get that back when I file my tax return at the end of the year? I am single with a baby on the way and due before the end of the year if that helps with figuring out my tax. I also live in Washington state.

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Lev

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Bachelor's Degree Equivalent

25,376 satisfied customers
Need a Tax attourney, California, New non-grantor charitable

Need a Tax attourneyJA: What state are you in? It matters because laws vary by location.Customer: CaliforniaJA: Has anything been filed or reported?Customer: New non-grantor charitable trustJA: Anything else you want the lawyer to know before I connect you?Customer: Trying to assess if charitable Contributions are reported as income or booked into capital

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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I'm about to start a 2nd part-time job. I'm claiming a 1 on

I'm about to start a 2nd part-time job. I'm claiming a 1 on my W-2 form. What will my net pay be after $176 in gross wages.

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Lev

Retired

Bachelor's Degree Equivalent

25,376 satisfied customers
Thanks Pearl... I'm working on a 1040X for 2012 and I would

Thanks Pearl... I'm working on a 1040X for 2012 and I would like clarification re Line 12 "Income Tax Withheld". I went to the W2 for the year and noted that Fed Withholding, plus FICA + Medicare taxes were withheld. Do I add all of these together and put that total into Line 12, 1040X?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: I'm beginning to doubt my basic intelligence throughout this audit.

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Brian Michels

Partner

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Elderly taxpayer sold his personal residence in 2016 after

Elderly taxpayer sold his personal residence in 2016 after his wife passed away in 2015. For 2016, he qualifies for the main home sale exclusion. They had lived in the home 13 years. However, the gain on the sale is only $4000. Taxpayer moved back in to their previous home that their son had been living in, a second home, to be close to family as a result of his Alzheimer's disease. He can not live alone. Now, 2017, he is selling the second home (now his primary home) to purchase a new home with his son so that they may all live comfortably in one home. He has not lived in the second home for 2 out of 5 years, only one year. This second home will have significant gain as he has owned it for 50 years. His 2016 tax return is on extension until we can determine how best to handle these two sales. What options are available to him? If he takes the exclusion on the 2016 sale, can he also exclude the gain on the 2017 sale even though less than 2 years? Is there an exception if sale is for health reasons?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,498 satisfied customers
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