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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?

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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.

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Sandi Hargrove, SkyHawks

Master Tax Pro and Enrolled Agent

Master Degree

666 satisfied customers
I'am the owner of a Vocational college, CEM.college, are the

I'am the owner of a Vocational college, CEM.college, are the tuitions that I've 'scholarshipped' or donated to the student a tax credit or write-off?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: ol okJA: Is there anything else the Accountant should be aware of?Customer: we are accredited with the states of Washington, Oregon, Callifornia

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

10,504 satisfied customers
We owe about $1250 for the second year on our federal taxes.

We owe about $1250 for the second year on our federal taxes. How much more should we invest in our 401 K's, 403B, HSA's to avoid this next year? We file jointly and earn about $165,000 together.JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: I don't believe so. We both currently contribute total $28000 to the accounts listed above and do not have any dependents.

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Lev

Retired

Bachelor's Degree Equivalent

24,904 satisfied customers
I live in Texas but sold inherited land at a gain in

I live in Texas but sold inherited land at a gain in Louisiana. Am I liable for LA tax?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: We sold undivided land inherited from our parents in Webster Parish. My gain is 237,000. do I owe Louisiana tax if I am a resident of Texas?JA: Is there anything else the Accountant should be aware of?Customer: No.

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Robin D.

Vocational, Technical or Trade School

24,226 satisfied customers
I have filed married separately and itemize my deductions

I have filed married separately and itemize my deductions for the past 20 years. This past tax year, my husband has been placed on disability receiving a monthly check. My question is, am I still able to itemize my deductions, filing separately?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: I do not think there is anything else.

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

10,504 satisfied customers
If a person hasn't filed taxes for many years, could they

If a person hasn't filed taxes for many years, could they file for 2016?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: taxes were filed and wrong information was entered. We were going to get an accountant to start correcting that year, and catch up with the years after that that taxes were not filed. But now, we really need to file for this year, as to provide filed taxes to try to qualify for assistance for going to college for my daughter. So, we need to file for this year for proof , and was wondering if we could file for this year only, for now and clear up the prior years laterJA: Is there anything else important you think the Accountant should know?Customer: Can't think of any thing more. Thank you.

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Edward Brockschmidt

Master of Accounting

6 satisfied customers
I inherited a small amount $5k from my mom's IRA. I just

I inherited a small amount $5k from my mom's IRA. I just deposited it into a cash management account without consulting my financial planner or tax advice. I know I need to pay taxes on the distribution but not sure how that happens or when. Also don't know if I need to reinvest the money in a new IRA account designated as an inherited IRA. Thanks.JA: When we are ready I'll take you to the appropriate web page. The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: I think that's it right now.

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Lev

Retired

Bachelor's Degree Equivalent

24,904 satisfied customers
I'd like information on the health coverage tax credit

i'd like information on the health coverage tax credit pleaseJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: my son is disabled and had no income last year but he still received insurance under the affordable care act. Does he need to file a tax return?JA: Is there anything else important you think the Accountant should know?Customer: we supported him last year but this year he has his SSdisability income

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Edward Brockschmidt

Master of Accounting

6 satisfied customers
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