Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
Fl resident died March 2010. A missed asset just discovered
Fl resident died March 2010. A missed asset just discovered by Trustee. Dividends and Cap Gains have been reported on Trustee s tax returns each year. Is there any tax implication for the trustee ? Fo… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,861 satisfied customers
Second opinion], If was already funded and its estate taxes
Second opinion] Hi David,If B was already funded and its estate taxes already paid, then A and B have been filing taxes for some time. The IRS will thus know of its prior existence. If the Trustee now… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,595 satisfied customers
My mother just passed away recently and among other things
My mother just passed away recently and among other things left an irrevocable trust to my sister and me. My question is when the assets of the trust are disbursed do we have to pay INCOME TAX on the … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I need to dissolve a QPRT. When I did it the laws were different
i need to dissolve a QPRT. When I did it the laws were different and my life was different. I was single with no dependents. Now I'm married with a child. I'm still int he qprt term but at 44 years ol… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,279 satisfied customers
1. We are beneficiaries of a trust that was formed for the
1. We are beneficiaries of a trust that was formed for the benefit of a disabled person who is now deceased, and the assets of the trust are now being fully distributed. Some of the assets have apprec… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
Im confused. If a settlor transfers real property (Prop 13
I'm confused. If a settlor transfers real property (Prop 13 assets) into a revocable living trust, dies, and a successor trustee distributes those real property assets to a named beneficiary of the li… read more
Expert
Expert
I have a question about k-1s for a 1041 estate return. Estate
I have a question about k-1's for a 1041 estate return. Estate has Rental Properties and Dividend Income. 2010 - 1st year return - Estate had profits and since none of the profits were distributed or … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,279 satisfied customers
MASSACHUSETTS: My dad and his 3 brothers created a Investment
MASSACHUSETTS: My dad and his 3 brothers created a Investment Property Trust in 1970. Within the Trust there are 4 properties that contain commercial rental buildings. Three of the four brothers and 2… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
My mother passed away in March. She had a revocable trust with
My mother passed away in March. She had a revocable trust with me as the successor trustee. Only her home and three CDs were placed in the trust. CDs outside the trust were POD for her three children.… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,279 satisfied customers
I have a few questions about an Irrevocable Trust. The Trustee
I have a few questions about an Irrevocable Trust. The Trustee is in Oregon, the beneficiary is a student and a California resident. The beneficiary will be moving to New York for a job later in the y… read more
winktax
winktax
Enrolled Agent
Master's Degree
425 satisfied customers
My relative passed away June, 2010. We received an initial
My relative passed away June, 2010. We received an initial disbursement of $250k in December, 2010. I was under the impression that there was no estate tax for distributions made in 2010 (at least som… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,279 satisfied customers
1. what is the income tax rate for income distributions from
1. what is the income tax rate for income distributions from trust (its irrevocable and used to pay college 2. How much do we have to pay in quarterly income tax for trust 3. What is cumulative gain/l… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,279 satisfied customers
My mom had a grantor trust and died June 2009 and trust became
My mom had a grantor trust and died June 2009 and trust became irrevocable. I am the trustee required to liquidate and distribute her assets to children and grandchildren. There is a small amount of i… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,636 satisfied customers
Our 401k, IRAs and a separate investment portfolio designate
Our 401k, IRAs and a separate investment portfolio designate a family trust (revocable) as the beneficiary. What are the tax consequences for our heirs managing the trust for withdrawals from the IRAs… read more
Bill
Bill
Master's Degree
3,132 satisfied customers
My 75 year old sister is living alone in our familys 60-year
My 75 year old sister is living alone in our family's 60-year old single-family house in Belmar, NJ. Before my father died, he set up an irrevocable trust that is solely for the benefit of my sister. … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,279 satisfied customers
We have an irrevocable trust and our local bank is the ...
We have an irrevocable trust and our local bank is the trustee. The trust has insurance which we are going to cut in half. The trust has a large cash value to pay the current insurance up to the year … read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
I am grantor and trustee of irrevocable trust for benefit ...
I am grantor and trustee of irrevocable trust for benefit of 50 year old son(beneficiary) who has no earned income. The trust has significant unrealized capital gains (mutual fund) that I would like t… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
My mom died last ear, and a credit shelter trust was set up ...
My mom died last ear, and a credit shelter trust was set up for me and my brother. the trust is to pay out 5% annually, and then larger amounts every 5 years. Do I have to pay income tax on either the… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,279 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