Join the 9 million people who found a smarter way to get Expert help

Recent Smuggling questions

What if any value does the Mexican govt. railroad Chiapass ...

What if any value does the Mexican govt. railroad Chiapass Mayab have today since it shut down?

Read more

Ed Johnson

Senior HR Consultant and Business Devlpm

Bachelor's Degree

6,994 satisfied customers
home sale exclusion - prison as reason

Hello. IRC Section 21 addresses the exclusion generated from the sale of property. My business partner and I purchased a home for him in 2000 in WV. Unfortunately, he has been incarcerated the entire time, and has been unable to actually reside there. He is in VA. I am in OH. As I read the code, if someone cannot reside at the actual residence, due to circumstances, such as illness or work....s/he can still claim the exclusion when selling the property. Is that correct? Now, because the property in listed in his name and TIN with the words "& associate" after his name (with no affiliated TIN) what can or cannot be excluded from captial gains. Curious about his crime? He smuggled marijuana 27 years ago, no weapons, no violence...just the mistake of doing so in corrupt and backward Virginia which denies him parole every year, despite an exemplary prison record. I was not involved. thanks Thank you.

Read more

Sandi Hargrove, SkyHawks

Master Tax Pro and Enrolled Agent

Master Degree

666 satisfied customers
My mother passed away last year, and soon the probate on her

My mother passed away last year, and soon the probate on her estate will be complete. I am working in the US on a H1B visa, and my mother was never a US citizen or green card holder. I will be inheriting some property and money from her in Malaysia. I intend to leave the money in Malaysia. What are my obligations in terms of tax reporting in the US? Will any inheritance tax be applied to this? If so is there any double tax relief agreements between US and Malaysia? There will also be a portion of her money that has been designated to be put into a trust for any future medical issues I may have. Will there be any tax implications in US on this trust? Thank you.

Read more

Robin D.

Vocational, Technical or Trade School

22,322 satisfied customers
I had some errors on my 2015 Form 709 Part 2 line 7, .I

I had some errors on my 2015 Form 709 Part 2 line 7,JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: .I called the irs and was told to use 2,178,800 as the amount of the exclusion. Seems wrong. Also, I had several previousJA: Is there anything else the Accountant should be aware of?Customer: I filed 709s for two previous years and my income has never been greater than 75k. The irs agent said I simply made a mistake on the form and gave me some numbers to file an amended form. I worry about the exclusion amt. that was quoted.

Read more

Dr. Fiona Chen

President

Ph.D.

782 satisfied customers
Does Post 9/11 GI Benefits count as income? Not asking for

Does Post 9/11 GI Benefits count as income? Not asking for tax reasons. Asking if it is considered income legally say for something that takes into account your income to decide a fee or something like that. Yes or no that counts as income and where can I find that (legal document that says so)

Read more

emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

4,910 satisfied customers
Nevada tax question. I have a person in Las Vegas with a DMV

Nevada tax question. I have a person in Las Vegas with a DMV receipt forVIN INSPECTIONPRISON INDUSTRY FEEREGISTRATION FEE-PASSENGER VEHICLESBASIC GOV SERVICES TAX-CLARKSUPPLEMENT GOV SERVICES TAX-CLARKEach has its own cost.Which, if any of these, are tax deductible???

Read more

Dr. Fiona Chen

President

Ph.D.

782 satisfied customers
Do seniors have to file if they earn under $25000? I am 78

Do seniors have to file if they earn under $25000?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I am 78 yo. I earn at my job about $18000. I also receive social security. My job allows me to take several deductions. Ami required to file a tax return?JA: Is there anything else important you think the Accountant should know?Customer: I do receive about $2000 a yr from a small IRA.

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

19,658 satisfied customers
I have 3 houses that I rent, my property manager, who is a

I have 3 houses that I rent, my property manager, who is a realtor, discount her and the lawn mower money before depositing me my part. The total amount taken by the manager and the lawn mower is more than 600 a year.I have three questions:1. Do I have to report management and maintenance fees described above when doing my taxes or just entering the net amount I receive is enough?2. Do I need the manager to provide receipt or invoice or just showing my bank statements to an eventual IRS auditor will be enough?3. Do I have to provide the manager and the lawn mower a 1099 tax form?

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

19,658 satisfied customers
I am a 100% disabled retired police Lieutenant. I was

I am a 100% disabled retired police Lieutenant. I was retired by my employer in 1992 for a service connected injury. My pension was IRS tax free until about four yrs. ago when my employer changed it to 50% tax free based on a old court ruling from the IRS. Can I get this changed back?JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: My accountant did not know how to help.

Read more

Robin D.

Vocational, Technical or Trade School

22,322 satisfied customers
View more tax questions
In The News