Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
IRS Tax Questions: 1. What happens to suspended capital
IRS Tax Questions: 1. What happens to suspended capital losses when someone dies and there is no estate return? Are they lost? Please provide IRS references and articles. 2. Please explain the rules f… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,972 satisfied customers
My mother had a fixed annuity that we cashed out so she
my mother had a fixed annuity that we cashed out so she could qualify for medicaid. All of it was non-qualified. Now I've got a 1099-R for that and don't know what my choices are. … read more
Tax.appeal.168
Tax.appeal.168
Principal
8,650 satisfied customers
Can a contribution of $100,000. that I made to kent state
can a contribution of $100,000. that I made to kent state university be considered a taxable gift in which taxes paid can be deducted from my from the lifetime exemption of my estate and paid upon my … read more
PDtax
PDtax
Owner
Master's Degree
9,538 satisfied customers
I have a 91 year old mother in law with a non qualified
I have a 91 year old mother in law with a non qualified annuity. She has major medical problems and needs to withdraw funds from this annuity or take a loan against its cash value. Her accumulated val… read more
Tax.appeal.168
Tax.appeal.168
Principal
8,650 satisfied customers
A non-qualified annuity in a trust account was liquidated
A non-qualified annuity in a trust account was liquidated shortly after the owner death … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,472 satisfied customers
If I pay back a loan from an irrevocable trust with
If I pay back a loan from an irrevocable trust with appreciated stock, I was told I would realize a taxable gain on the appreciated stock I transferred to the trust for payment on the loan. Is this tr… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,104 satisfied customers
Senario: 4 children, one widow. Family home in was in irrevocable trust to children in the
Senario: 4 children, one widow. Family home in was in irrevocable trust to children in the US Virgin Islands. The home sold recently and the realtor sent 5 checks equally divided. Realtor asked for so… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,972 satisfied customers
I have a question about some 1099 forms we received for
Hi I have a question about some 1099 forms we received for a non-qualified annuity. I don't know how just answer works. How much will it cost for you to answer my question?… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
4,670 satisfied customers
My father is a WW 2 veteran. He and / or my mother (alzheimers)
My father is a WW 2 veteran. He and / or my mother (alzheimers) may be needing assisted living soon. We are discussing setting up an irrevocable trust with an Elder Law attorney so that they can quali… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
Purchased an fixed annuity with death benefits, receiving
Purchased an fixed annuity with death benefits, receiving monthly payments. Rquested a dollar amount to be taken for fed taxes. The annuity has a 3.5% intrest rate. In box 2a of the 1099-r form, what … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,472 satisfied customers
I am the beneficiary of a non-qualified fixed annuity that
I am the beneficiary of a non-qualified fixed annuity that was on a monthly payout to my mother. At the time of her death, I was told that the account value is only $100 different than the "cost basis… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,472 satisfied customers
We cashed out a non-qualified annunity, but have now been told
We cashed out a non-qualified annunity, but have now been told it is a qualifying annuity and received a 1099R showing the whole amount taxable. We contacted XXXXX XXXXXcock and they said they receive… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
I rolled over the interest, $10K from an annuity to an ira.
I rolled over the interest, $10K from an annuity to an ira. The principal ( pre-taxed money that I invested $100K) does not need to be reported since it is not taxable....just the interest, yet when I… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,472 satisfied customers
I will be inheriting a small amount of cash (under $100,000)
I will be inheriting a small amount of cash (under $100,000) from my stepmother who passed away earlier this year. Will I owe taxes on this money and if so, approximately how much? I live in Illinois.… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
My father-in-law became the BENEFICIARY of three ANNUITY accounts.
My father-in-law became the BENEFICIARY of three ANNUITY accounts. He wants to "roll them over" into trust accounts for his six grandchildren. Are there any tax consequences to putting these accounts … read more
Bill
Bill
Master's Degree
2,074 satisfied customers
I recently gave ownership of a non-qualified annuity to my
I recently gave ownership of a non-qualified annuity to my son The NQ annuity was rolled over in 1995, but the original annuity was purchased in 1978. I received a 1099 from my company stating I was r… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
Weve lost our 1099-R for 1989 which would show our cost basis
We've lost our 1099-R for 1989 which would show our cost basis on a deferred annuity which we transferred to new insurance company that year via 1035 Exchange. We surrender our deferred annuity last y… read more
Lou
Lou
High School or GED
272 satisfied customers
I inherited money from a realtives Insurance/IRA after her
Customer Each beneficiary should have received a 1099-R showing their portion. As far as the incorrect amount in 2a, is the "taxable amount not determined" box in 2b also checked? If so, do not worry … read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 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