Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
My friend have created LLC for property management, but our
My friend have created LLC for property management, but our a few properties does not transfer the titles to the LLC. Since our llc is two memebers (husband and wife). Can we file the 1065 partnership… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,872 satisfied customers
I had previously gotten some info from Chad regarding my
good afternoon - I had previously gotten some info from Chad regarding my small business and would prefer to continue this with him. Do you still have access to our previous discussion back in may or … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,872 satisfied customers
Second opinion] My husband and I have a new LLC that we just
Second opinion] My husband and I have a new LLC that we just set up. We are the only members/owners. The LLC is in Indiana to be used to purchase rental property there. We live in California. Can I se… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,294 satisfied customers
Question on tax treatment of the sale of two homes for my
Question on tax treatment of the sale of two homes for my father in law. Question 1: Home purchased in 2000 paid 80,000. Was primary residence until Dec 2012. Improvements 100,000. Converted to rental… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,936 satisfied customers
In 2015 I received a 1099-c cancellation of a second
in 2015 I received a 1099-c for the cancellation of a second mortgage balance of roughly 92k. The loan was originally taken in 2004 to purchase my primary residence. It was refinanced in 2005 with all… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,936 satisfied customers
Can a sole proprietor pay rent to an LLC that both she and
Can a sole proprietor pay rent to an LLC that both she and husband own? Spouse owns Sole Prop business that is tenant in bldg. she and her husband own through LLC. She occupies approx. 30% of bldg.… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,638 satisfied customers
We took out a home equity loan, (in husband's name) to remodel
We took out a home equity loan, (in husband's name) to remodel our own home and to purchase the home next to ours. We intend to rent that home. When we purchase that home, should we put it in both our… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,936 satisfied customers
there my husband and I together with his brother had bought
hi there my husband and I together with his brother had bought a 2 family house, deed is documented with my name, my husband and his brother and his brother's wife. Mortgage is only under my name and … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,294 satisfied customers
This is a tax planning question. My wife and I are middle
This is a tax planning question. My wife and I are middle income group paying already pretty big taxes including substantial AMT. My wife and I own two home. One is primary home and the other is (our … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,629 satisfied customers
We are moving here shortly but plan to rent out our current
We are moving here shortly but plan to rent out our current house. Through the loan process we can either put a decent down payment on the new house or leave the equity in our current house. For tax p… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
I set up an LLC in January 2012 to own a residential rental
I set up an LLC in January 2012 to own a residential rental property. I purchased a townhome (1 unit out of 4) in July 2012 and it began renting in November 2012. My wife and I both were otherwise emp… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
Can husbands Sch. C business pays rent to wifes Sch. C?
Can husband's Sch. C business pays rent to wife's Sch. C? Husband's business is Sch. C chiropractice office. Wife's business is Sch. C property management. The building is owned by revocable family tr… read more
WebCPA
WebCPA
Manager
Bachelor's Degree
105 satisfied customers
A husband and wife who are Australian citizens have moved to
A husband and wife who are Australian citizens have moved to live and work in New York. He will be getting a green card shortly. He is looking to buy a family home to live in in New York as well as a … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,828 satisfied customers
In February 2008 I formed 2 LLC for our rentals. One for our
In February 2008 I formed 2 LLC for our rentals. One for our commercial rental and one for our residential rental which includes two homes. In past years, I reported our rentals on Schedule E. Can I c… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
In regards XXXXX XXXXX Mortgage Forgiveness Debt Relief Act of 2007,
In regards XXXXX XXXXX Mortgage Forgiveness Debt Relief Act of 2007, do "short sale" properties qualify? Secondly, If a couple owns a home but due to a divorce, the husband moves in with parents in ne… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I have corresponded before -- in January of 08. I have a tax
I have corresponded before -- in January of 08. I have a tax client who lives and works overseas but has a US business. He pays federal taxes as a US citizen as all his income is generated here, throu… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
For Ed Johnson HelloI have been listing the house where my mom lives
Hello I have been listing the house where my mom lives on sched E (I own the house)for many years, it has been fully depreciated... I want to give her the house as a gift now. I know that in situation… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I jointly own a 3 family home with my wife. We are ...
I jointly own a 3 family home with my wife. We are separated and she now lives in one of the apartments without me. She pays rent into a joint account. I want to file taxes separately and am confused … read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 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

18,936 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