Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
What are the tax rules for a withdrawal in a UTMA account? I
what are the tax rules for a withdrawal in a UTMA account? I am the custodian for my son's account and I withdrew $ to pay for his college tuition. I assume I report this withdrawal amount in my taxes… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I bought a house in 2007 for my college kids to live in - it
I bought a house in 2007 for my college kids to live in - it had a basement rental apartment. In 2017, I sold the house to my son for the price I paid for it - he was still living in the house. Also, … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I have a bit of a complicated situation. I opened an s corp
I have a bit of a complicated situation. I opened an s corp in 2012 for a service business (realtor) and earned appx $250k for 2012/2013. . The $250k has stayed in my business bank account and I have … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Line 27 of Schedule L is out of balance to Assets by exactly
Line 27 of Schedule L is out of balance to Assets by exactly income. Where should income be included? … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
A man passed in 2014 he left durable power of attorney and
a man passed in 2014 he left durable power of attorney and the son is the only trustee in the living trust. The man has an EIN for the trust. He does not have more than 3 million in his trust. doe he … read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,512 satisfied customers
I'm looking into tax ramifications of investing in an LP (Blackstone)
I'm looking into tax ramifications of investing in an LP (Blackstone) within my 401k. Specifically the K1 filing. I'm looking to start a small position (22k)… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Im doing a final 1065 for a two person partnership. History: Partner
I'm doing a final 1065 for a two person partnership. History: Partner 1 has provided all of the capital, but the split was 85/15 between Partner 1 and Partner 2. At the end of 2012 tax year, Partner 1… read more
PDtax
PDtax
Owner
Master's Degree
1 satisfied customers
I am working on a tax return that has two 1065 K-1s. I get
I am working on a tax return that has two 1065 K-1s. I get confused with this every year. First off, K1 #1, the client is a general partner. In box L, beginnin capital is 13,950. no capital was contri… read more
fastfile
fastfile
Tax Advisor
Master's Degree
550 satisfied customers
A partner passes away on 3/2/2012. Estate is formed and passes
A partner passes away on 3/2/2012. Estate is formed and passes the partnership interest to beneficiary on 8/20/2012. Does deceased partner get k-1 for activity from 1/1/2012 through 3/2/2012.Then bene… read more
fastfile
fastfile
Tax Advisor
Master's Degree
550 satisfied customers
One of my sons just graduated from college with $16500 in student
One of my sons just graduated from college with $16500 in student loans incurred over the least 4 years. I would like to use his 529 to pay them off. I assumed that I could do this tax-free and now fi… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
My Aunts companion passed away in 2009 with a small estate.
My Aunt's companion passed away in 2009 with a small estate. In October of 2011 and again in September 2012, his former employer sent him taxable pension distributions in the amount of $30,100 and $1,… read more
Dr Arthur Rubin
Dr Arthur Rubin
Doctoral Degree
24 satisfied customers
Hello, I previously asked and accepted an answer to the below
Hello, I previously asked and accepted an answer to the below question and have a new question related to it. Original Question ''I'm administering a Trust as the appointed Trustee by the Trust docume… read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor's Degree
1 satisfied customers
Hi Steve; This is a follow up with the Anderson Trust. The
Hi Steve; This is a follow up with the Anderson Trust. The parents are both still living at this point, in an assisted living facility. So, is there a situation when a Trust has no beneficiary? The wa… read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor's Degree
1 satisfied customers
Question regarding legal trust agreement. Who pays the taxes
Question regarding legal trust agreement. Who pays the taxes on distribution? Paragraph from the trust: "The Trustees are authorized to credit additions and other receipts attributable to the Trust es… read more
Bill
Bill
Master's Degree
2,278 satisfied customers
My father-in-law passed away 4 years ago. His estate covered
My father-in-law passed away 4 years ago. His estate covered the inheritance tax and I am wondering if it was paid through the estate, do you stilll have to pay income tax on the amount inherited (in … read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,165 satisfied customers
Im a beneficiary to a family trust. Recently I received a
I'm a beneficiary to a family trust. Recently I received a K-1 from the executor of my deceased father's living trust. How do I use the information on this form together with Form 1040 I submit to IRS… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,636 satisfied customers
I am a trustee for my disabled sons account his ...
I am a trustee for my disabled sons account his money is invested,a monthy stipid is paid to me per month at 2000.00 tax free,and then his account also pays me for his daily living expenses of 3630.00… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I live in Virginia. My father lived in Florida. When he ...
I live in Virginia. My father lived in Florida. When he pasted away his will was probated by a Flordia lawyer. He left me almost $40,000. My question is do I have to pay taxes on this federal or state… read more
Guru_Guy
Guru_Guy
Doctoral Degree
1,634 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

1,338 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

18,636 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