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R. Klein, EA
R. Klein, EA, Enrolled Agent
Category: Capital Gains and Losses
Satisfied Customers: 263
Experience:  Over 20 Years experience in resolving tough tax cases
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Tried to get clarification on my question during a lengthy

Customer Question

Tried to get clarification on my question during a lengthy question and answer from Lev, tax advisor. However, no defined concrete answer. Can you help me.?
Submitted: 1 year ago.
Category: Capital Gains and Losses
Expert:  Stephen G. replied 1 year ago.

If you come back online, I will explain your last question to you as long as you agree to credit (rate) the previous expert as he's done all the work and I have no interest in telling you otherwise.

You are focusing on a minor point; the $75. difference is simply the fact you actually don't have the final figures so the first time he just rounded & used 30% verses 30.124%.

As you can appreciate, this is a complicated area, and the Expert that picked up your question is one of the best if not the best Expert that we have in the tax area. Most attorneys, even tax attorneys, aren't really able to get into the detail computations; that's why there are CPAs. You ran into Lev who is an exception to the rule, he's not a CPA, but he's an attorney who specializes in all types of tax matters and he also has 30 years of experience and advanced degrees; my point being he knows what he talking about.

At one point you mentioned that your tax bracket from your other income is minimal; Is that correct? Do you & your husband file a joint return and is your combined other income minimal, ie. Social Security, etc. The reason I'm asking is that it may be that any long term capital gain is not taxed at all in your tax bracket.

Right now, there are 4 interests in that home. The 3 remaindermen and your mother.

I'm just going to repeat using rounded figures. Based upon your mother's age, she owns approximately 10% of the property. Each Remainderman owns 1/3 of the remainder or 90%/3 = 30%.

So if you go back over Lev's detail computations, disregarding the error when he made a mistake that there were only 2 remaindermen, he's laid everything out for you.

I'm sure he's been working since early this morning and is probably had it at this point, so please understand, that the system requires us to spend a lot of time with no guarantee that we will be compensated. This time of the year, it becomes very busy, so when we take on a question such as yours, it means we must give up a lot of other questions that can be answered quickly for the most part. Eventually, after a long day, the frustration sometimes sets in.

Trust me, if Lev had given you bad information, there are other experts, including me who would jump in to make sure any error was corrected. There's nothing wrong with anything he told you or computed for you.

If I can help further, I'll be happy to. Just ask.

Steve G.

Customer: replied 1 year ago.
I appreciate your answer. Thank you. Wil do for Lev.
Expert:  Stephen G. replied 1 year ago.

OK, sounds good. I'm sure he'll appreciate it, as do it.

Steve G.

Customer: replied 1 year ago.
I also expect you not to charge me $54 as I see this on my charge. We agreed I would rate him and you would not charge as he did all the work.
Expert:  Stephen G. replied 1 year ago.

I have no control over the fees. I am receiving nothing for assisting you & Lev.

As long as you don't provide a rating, I don't get paid.

When you started another question, (this one), evidently it was valued at $54. I don't know.

You should contact Customer Service and straightened it out. I would gladly do it, but we can't control anything to do with the money. Just make sure you tell them you agreed to pay Levr, but you didn't realize you would be charged again if you started another question. (I have no idea if you were charged again, as I said, we don't have access to any of that information.)