Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
If I die before I use up a large NOL carry forward on my
If I die before I use up a large NOL carry forward on my Federal taxes, can the tax loss carry forward be utilized by my estate?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,372 satisfied customers
Do you lose tax credits from previous business losses if you
Do you lose tax credits from previous business losses if you make offer and … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,748 satisfied customers
I sold vacant land in 2015 that i have owned years, at a
I sold vacant land in 2015 that i have owned for 17 years, at a huge loss. how do i file taxes on this… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,255 satisfied customers
I sold a residential rental property and closed in early
I sold a residential rental property and closed in early 2015. When I go to see my loss (I'm sure) in selling it, shall I add the fair market value of the land to the basis of the house from 2014? How… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,748 satisfied customers
I own a condo in fla that is worth half its value from when
I own a condo in fla that is worth half its value from when i bought it. I have rented it out for 10 years and realized loses each year. When i am ready to deduct those losses against ordinary income,… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,888 satisfied customers
Hi -- In 2013, I bought an investment property -- 4 unit
Hi -- In 2013, I bought an investment property -- 4 unit residential building -- and I am filing my own taxes for this building (which I'm starting to think wasn't the best idea, but it's too late now… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,659 satisfied customers
My husband and I are divorcing and are in negotiations for
My husband and I are divorcing and are in negotiations for a settlement agreement. On our 2009 "1040" tax return we had a large loss, approximately $900,000. About half of it was loss from ordinary bu… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,220 satisfied customers
Hi Sorry to ask what must seem like a dumb question but Im
Hi Sorry to ask what must seem like a dumb question but I'm getting confused with TurboTax. We sold our rental property in 2013 on which we had only passive loss carry forwards (2009-2012). Realize we… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
My wife was audited by the IRS for her 1040 return for 2005.
My wife was audited by the IRS for her 1040 return for 2005. In question were itemized deductions for large dental expenses (for implants), claimed in a Schedule A, and also for a business loss from a… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,255 satisfied customers
For Charles Greiner: "would you please explain in non-CPA etc
For Charles Greiner: "would you please explain in non-CPA etc terms how a patronage carryforward can occur and if and how it can be applied to off-set patronage income as it applies to filing by a hou… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
We have an operating LLC for our dog business and a Property
We have an operating LLC for our dog business and a Property LLC that owns the building. My wife and I are the only owners of both LLCs. The Property LLC bought a building worth around $300k this year… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
I am a co-owner of some property. The purchase price back in 2007 was 725,000. It was rece
I am a co-owner of some property. The purchase price back in 2007 was 725,000. It was recently sold for 405,000 for a loss of (320,000). I'm selling quite a bit of stock this year and will have some s… read more
RD
RD
Self Employed
Master's Degree
1,129 satisfied customers
I have $40,000.00 in passive deductions for a rental property.
I have $40,000.00 in passive deductions for a rental property. Is there a way to use the passive deductions now?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,888 satisfied customers
Filed a joint return in 2003 wherein we expirenced a loss in
Filed a joint return in 2003 wherein we expirenced a loss in the stock market of approx. 300k. We divorced in 2004. Most of the stock was in my spouses portfolio. Can I, now filing Single, still carry… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I file an individual tax return and I had a large capital loss
I file an individual tax return and I had a large capital loss in '08 and could only use $3,000.00. This year I have a large capital gain. Can I use the balance of the '08 loses to off set the '09 gai… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I have a tax-loss carry forward from 2008 of over $100,000
I have a tax-loss carry forward from 2008 of over $100,000 from stock losses. Can these losses be used to off-set any taxes that would be incurred by converting a portion of a regular IRA to a Roth IR… read more
Bill
Bill
Master's Degree
3,156 satisfied customers
As a US tax payer, how do I treat losses in AIM listed stocks
As a US tax payer, how do I treat losses in AIM listed stocks in the UK? Are there any special write off provisions liked to AIM stocks?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,748 satisfied customers
I sold a rental property but I want to minimize my tax liability.
I sold a rental property but I want to minimize my tax liability. From all of my rental activity I have previous years unallowed losses can I use the gains from the sale to recapture the losses (eat u… read more
Lou
Lou
High School or GED
272 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

4,937 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

261 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

17,888 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,659 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