Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
How do Ii report moving property (real estate) from a trust
How do Ii report moving property (real estate) from a trust to my LLC. I am the sole surviving family member, trustee of the trust and have inherited all assists in and out of the trust. Is this a dis… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,448 satisfied customers
I have a property in MD about to close this month. I meet
I have a property in MD about to close this month. I meet the 2 out of 5 years test for 121 exclusion, I owned the property for 30 years, and it was converted to a rental mid-2015.I want to know, do I… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
6,014 satisfied customers
For section 1244 stock loss: For an S corporation, do
For section 1244 stock loss: For an S corporation, do multiple stock purchases for cash count for determining the loss on sale or only the initial stock purchased when the corporation is first organiz… read more
PDtax
PDtax
Owner
Master's Degree
9,534 satisfied customers
In 2010 I bought a duplex. I lived in one half and rented
In 2010 I bought a duplex. I lived in one half and rented the other. Both sides have a unique mailing address; however, the mortgage documents all list the address for the half I lived in. Last summer… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,448 satisfied customers
Tax Question: Primary home (with home office) to Rental to
Tax Question : Primary home (with home office) to Rental to Sale of home Where do I report it on form 4797 and sch d. Also where do i write 121 exclusion… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,448 satisfied customers
I sold a residential rental property and closed in early
I sold a residential rental property and closed in early 2015. When I go to see my loss (I'm sure) in selling it, shall I add the fair market value of the land to the basis of the house from 2014? How… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,448 satisfied customers
I purchased a rental house in 2010 for $130k under my
Hello, I purchased a rental house in 2010 for $130k under my own name (title); within two months, then I transferred the title grand deed to my partnership LLC. The county assessor office reassess the… read more
ShawnA
ShawnA
CEO
Bachelor's Degree
4,726 satisfied customers
3 owners of 6 rental properties decided to divide the
3 owners of 6 rental properties decided to divide the properties each receiving 2 properties. Prior to dividing properties, each owner claimed 1/3 of income/expenses on Schedule E each year. Prior to … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,104 satisfied customers
Income tax - depreciation schedule questionI have a real
Income tax - depreciation schedule question I have a real estate property that was placed as a rental property in 2009, before that it was my primary residence. The carpet was installed in 2005. How l… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,448 satisfied customers
I am a joint owner with 5 siblings of 2 summer rental properties.
I am a joint owner with 5 siblings of 2 summer rental properties. This year the assessed value went down over $100,000. This year I am going to buy out 3 of the partners. I would like to make this a L… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,448 satisfied customers
I am a partner with 5 siblings of a summer rental property.
I am a partner with 5 siblings of a summer rental property. I am going to buy 3 of them out. For the past 2 years we have been taking depreciation on the property. When I sell the property many years … read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,670 satisfied customers
1. A taxpayer places in service $2,340,000 of personal property
1. A taxpayer places in service $2,340,000 of personal property in 2010. The maximum Section 179 the taxpayer can elect in 2010 is: 2. What is the maximum depreciation in 2010 for a new computer acqui… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
Post partnership question In 1993 my mother inherited a 10
Post partnership question In 1993 my mother inherited a 10 percent interest in a partnership who main activity was one rental real estate property. A 754 election was not made to equalize the inside a… read more
PDtax
PDtax
Owner
Master's Degree
9,534 satisfied customers
My wife and I purchased a home on 1/23/1989. In 1999, my wife
My wife and I purchased a home on 1/23/1989. In 1999, my wife and I divorced and I received full ownership of the home by way of quick claim deed. In 2004 I married my current wife and re-financed the… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,448 satisfied customers
Looking at buying a condo in Panama (the country) for cash
Looking at buying a condo in Panama (the country) for cash and putting it into an LLC. The LLC will have 52 shares (1 for each week). I would like to sell up to 15 shares which will entitle the owner … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,448 satisfied customers
My wife and her two brothers inherited propeerty in 1981 ...
My wife and her two brothers inherited propeerty in 1981 which they used as vacation property off and on until 1992 when they formed a Trust with the purpose of renting the property out as income prop… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
My husband traded in his 7 series BMW at the end of ...
My husband traded in his 7 series BMW at the end of October, at that time he ordered a new 3 series and took delivery on Jan 14th 2007.(So he had no business vehicle till Jan, and used a rental car to… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
Real Estate Transaction - 764 Election for step up in basis
I am involved in a real estate transaction in which I am buying land to build homes. That land is owned by an LLC and has changed hands 4 times over the past 3 years from one LLC to another (same owne… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,342 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x