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I was my elderly mother's care taker of 2015. I was unable

I was my elderly mother's care taker for all of 2015. I was unable to work anywhere else so she paid me 600.00 a month. I just figured another 600.00 for room and board, although it did not come to that much. Do I have to pay taxes on the room and board.

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Lane

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I am 90 years old and have drawn the mandatory amount from

HelloI am 90 years old and have drawn the mandatory amount from my IRA since I reached the required age to do so.My wife tells me we have not payed taxes on the 1200 dollar yearly withdrawal.Would greatly appreciate some input regarding this matter.RegardsDick Jensen

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Lane

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Doctoral Degree

 
16,298 satisfied customers
My wife and I together draw 34,377.60 in social security. If

My wife and I together draw 34,377.60 in social security. If we just claim the standard deduction and ourselves as dependents how much more money can we make in a year before we have to pay any taxes?

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Lev

Retired

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I live in Pennsylvania and have lived with my boyfriend

I live in Pennsylvania and have lived with my boyfriend since 1995. He is now on disability. His income is non-taxable/he files no return and it is under $20K. My income is $70K a year. He has had extensive dental work as a result of medication on his teeth- that I would like to claim on my 2016 return. It is more than 10% of my total income. Can I claim this? Can I claim head of household since his income is non-taxable and I support over 50% of the household? Thank you for your help.

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Robin D.

Vocational, Technical or Trade School

 
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My wife and are now retired. Our income each month is now

My wife and are now retired. Our income each month is now fixed and I want to know what we need to send to the irs each month. Social Security pays me 1334 and my wife 2160 each month. She also receives a combined monthly income from 3 pensions totalling 1950.20

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,298 satisfied customers
Is it true that a married couple in the 10% and 15% (with

Hello - is it true that a married couple in the 10% and 15% (with ordinary income under $70,000), tax bracket would pay no capital gains tax on the sale of real estate?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,298 satisfied customers
A 1099 was issued on a savings account withdrawal and not

a 1099 was issued on a savings account withdrawal and not included as income by the taxpayer. rightfully so but the IRS wants taxes paid on it what do i do?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,298 satisfied customers
I am looking to take out money out of an ira to use to

I am looking to take out money out of an ira to use to purchase a house. I know that there is a 10% early withdrawal and then I know I will be taxed the highest tax bracket as well. Is there anything I can do to limit the taxes - like do quarterly taxes or should I just have 49% taken off the top when I withdraw it?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,298 satisfied customers
I've carefully gone over my tax situation with a consultant

I've carefully gone over my tax situation with a consultant and did some calculations some calculations on my own, with the percentages and numbers provided to me by just answer.comNow I feel comfortable about what to expect, filing taxes this year with the IRS. However, I still have a few more follow-up questions if you don't mind helping me:To my last conversation I was basically told that 0.153% is used for self-employment tax and basically .25% is what to spec on the net income...

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Lev

Retired

Bachelor's Degree Equivalent

 
24,192 satisfied customers
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