Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
Can margin interest and buy & sell commission be deducted?
can margin interest and buy & sell commission be deducted? … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,636 satisfied customers
I have $2,762 of investment interest carried forward from
I have $2,762 of investment interest carried forward from 2016 (Form 4962 Line 7) to my 2017 return currently being filed. This interest was paid on some credit cards back in 2000 when I used a cash a… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
2,095 satisfied customers
I have a question regarding how to handle the sale of an
I have a question regarding how to handle the sale of an investment property that I sold in 2017. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
I have a similar question as to the one at I set up an LLC
I have a similar question as to the one at https://www.justanswer.com/finance/5lny4-own-piece-vacant-land-inside-llc-the-llc.html I set up an LLC and put my land in it, which got zoned commercial afte… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
2,095 satisfied customers
I have a stock trading margin account. So, I have dividend
I have a stock trading margin account. So, I have dividend income of $12,000 and margin interest expense of $10,000. Is the $10,000 deductible? … read more
PDtax
PDtax
Owner
Master's Degree
4,305 satisfied customers
Regarding Federal tax income Form 4952, should I expect my
Regarding Federal tax income Form 4952, should I expect my client to provide me a form to help me fill out line 1 for "investment interest expense paid"? And if so what is the form number?… read more
Tax.appeal.168
Tax.appeal.168
Principal
4,888 satisfied customers
I am a tenant in common with a real estate investment group
I am a tenant in common with a real estate investment group who holds property for sale to developers. Annually we incur various kinds of expenses such as property taxes, legal fees, etc. I am entitle… read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,512 satisfied customers
This is a question on filing a partnership 1065. The
this is a question on filing a partnership 1065. The schedule k-1 has number in line 6a. Why does turbo tax put this same number on line 20a (investments). If this number has to be on line 20a, what d… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,636 satisfied customers
My sister has agreed to get a personal loan @ 4.25% to pay
my sister has agreed to get a personal loan @ 4.25% to pay off my home mortgage currently @ 12%. Then I would execute a deed of trust to purchase the home from her by making the loan + interest (4.25%… read more
Jonathan Tierney
Jonathan Tierney
MBA
295 satisfied customers
Please clarify for me that Advisory fees are a Schedule A deduction
Please clarify for me that Advisory fees are a Schedule A deduction subject to the 2% and do not reduce investment income. Whereas investment interest to include margin interest, but NOT management or… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I received a notice from the IRS regarding the sale of stock
I received a notice from the IRS regarding the sale of stock on my 2009 return. They used a 0 cost basis so they have me charged with an outrageous amount of tax. The sale of stock was likely at a los… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
we have a loan on our property (on which our home sits) that
we have a loan on our property (on which our home sits) that is for developing the property in to 30 lots that are now for sale. We live in a house on lot #8 but the house is not included in the colla… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Its me again (charlie [email protected]) Thought I was all
It's me again (charlie [email protected]) Thought I was all done but have one more issue. I have a house in Maine that I built as an investment. Last year I paid 2,608 in interest on the mortgage. I en… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I had a home equity loan that I drew in 2010 specifically to
I had a home equity loan that I drew in 2010 specifically to exercise some equity options in my company's stock. The loan was for $350,000. During the year, we also improved the bathroom's in the hous… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I have interest I am paying on a loan that I used specifically
I have interest I am paying on a loan that I used specifically for investments. Specifically, I was reloaning it at a higher rate on secured loans with a group of other investors. We ended up reposesi… read more
Gerri A Harrison CFP EA
Gerri A Harrison CFP EA
Financial advisor/Tax preparer
Bachelor's Degree
252 satisfied customers
I am preparing Form 1040 for an individual. I am taking the
I am preparing Form 1040 for an individual. I am taking the standard deduction and I am going to carryover investment interest deduction on form 4952. How do I write this. Do I need to include Schedul… read more
Anne
Anne
Master Tax Preparer
2,361 satisfied customers
On my Federal tax return turbotax wants to know what
On my Federal tax return turbotax wants to know what is on line 3 of the 4952 tax form. Where do I get this information from? I have no information of this nature. It has to do with land I bought in 0… read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
Is the sale of real estate purchased for resale considered ...
Is the sale of real estate purchased for resale considered investment income for Form 4952 purposes? If not, how would the cost of securing short term financing to purchase, upgrade and resell be trea… read more
RD
RD
Self Employed
Master's Degree
1,164 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

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