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Merlo, filed our tax return 2 wks ago, gave our W-2's to

Hi Merlo,JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: filed our tax return 2 wks ago, gave our W-2's to thesame tax preparer that filed our taxes last yr. I ask him to separate my tax to my husband since i paid more taxes than him. He start to ask questions then he said here's your refund. So, im happy i have refund. I didn't even review the return since i dont know about it also. Soon, I'm on my way home i read the return & i saw HOH on mine & i found out also in my husband thesame HOH... I google for the curiousity of what is the meaning of HOH.. Then, i got upset when i found out that you cannot be both HOH in one house & also o read a lot after that that we cannot be HOH because we are Married end of the year.. Pls help what to do. Should i go to him to amend our returns? What if he will not admit that it's his mistake. Anyway, i want to go to the tax lawyer but my husband says we have to go back to thesame preparer. Refund was deposited anyway today. I dont know what to do. Pls i need your most sincere advice.JA: Is there anything else the Accountant should be aware of?Customer: Am i going to be penalized for signing the wrong tax return?

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Dr. Fiona Chen

President

Ph.D.

940 satisfied customers
I am a CA resident with $350,000 2017 income and no

I am a CA resident with $350,000 2017 income and no deductions other than the standard. What will be my taxes?

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

5,384 satisfied customers
ONLY ONLY ONLY…THANK YOU California Personal Tax Return for

Emc011075 ONLY ONLY ONLY…THANK YOUCalifornia Personal Tax Return for year 2015…a check was written to the Franchise Tax Board for $2,500 in April 2015. The Franchise tax Board wrote back a check of $1,000 because of an error…I paid too much.I Received a refund check from the Franchise Board in 2016 for $1,000 and also Form 1099-G.While doing the Personal 1040 Federal tax return for 2016 1040 I reported the $1,000 as income line 10-Taxable Refunds. I itemized on Schedule A for 2015 and will itemize again in 2016. The tax software automatically transferred the $2,500 paid to the Franchise Tax Board in 2015 to Schedule A Line 5 Income Taxes for 2016 as a deduction.QUESTIONI'm reporting the $1,000 on 1040 line 10 as Tax Refund Income in 2016. Do I need to manually reduce (Override) by $1,000 on Schedule A line 5 Income Tax Deduction of $2,500 down to $1,000 since I received a refund in that amount and therefore the deduction should be eliminated?

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

5,384 satisfied customers
My husband has passed away last year. He was an US citizen

My husband has passed away last year. He was an US citizen but I am not. We live overseas for decades. As I know, he did not file any tax return nor pay any tax to US IRS since graduation there and going overseas. Now I am thinking to apply immigration to US as a widow. Questions: 1. Will my application be rejected due to his tax liability? 2. Will I be responsible for his entire tax liablitity if my application accepted? Thank you.JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: No others

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

5,384 satisfied customers
In the UK one is allowed to gift my home to the Children and

In the UK one is allowed to gift my home to the Children and they will be exempt from paying IHT after 7 years. As all now green card holders how will America view this.

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

5,384 satisfied customers
Ing to recover some investment money. There has been growth

ing to recover some investment money. There has been growth in the funds and the company is telling me I need to pay the tax on the earnings to them before they can release the funds to me. I thought they would withhold some of the funds and pay the taxes directly. Is this proper?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: no

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,162 satisfied customers
Tax question: I recently sold a 22 year old Rolex watch to

Tax question: I recently sold a 22 year old Rolex watch to my brother. The watch cost about $1,200 in 1994. My brother paid me $1,800 for it (which is a little less than the current value, but I was okay with it). Truth is, I have had to sink almost another $600 getting the watch repaired and serviced over the years so I probably have $1,800 into it, but I didn't keep the receipts. Question: Would I potentially owe any capital gain on this transaction? Couldn't my brother and I give each other gifts way under the gift allowance without any impact on my taxes? Thanks for your help.

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Mark Taylor

Certified Public Accountant

Masters

3,376 satisfied customers
Income of a US citizen taxed in India, will be taxed again

income of a US citizen taxed in India, will be taxed again in US? Is there a dual tax system?The expenses were done (i.e. Air ticket, house rent, food expenses paid in India) to visit India to control themoney and for Indian taxation purpose will be allowed by US tax department to claim in my US tax returns?.US citizens residing in India for a long time and gaining income there from investments, will need to come back to the US to file IRS returns every year?Or, can it be done from India?Or, CPA in the US would be able to file my taxes thru mail correspondence from India?Thank you

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Robin D.

Vocational, Technical or Trade School

24,226 satisfied customers
I was divorced in march. I just remarried. My spouse is a

I was divorced in march. I just remarried. My spouse is a non resident alien with a daughter who is 9 and is a us citizen.I have to fill out my work tax forms- it says if you are married to a non resident alien to claim single.I claim 2/3 of my kids for my taxes.I am a home owner. How do I claim head of house hold if possible---But file married filing separately? I read that if I do this he has to report world wide earnings (none but bank interest) and I don't think he has much earned income this year here. He is working on getting green card reissued. He also has a ssn.Help! I want to make sure it's fine correctly the first time.Also- is he eligible to get benefits through my job? Hr says as long as he has ssn then yes.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,162 satisfied customers
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