Tax

Have a tax question? Ask a tax Expert

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

Related Tax Questions
My client's dad passed on aaUGUST 4, 2017. He had a home
My client's dad passed on aaUGUST 4, 2017. He had a home worth $425,000 and $208,000 in the bank. No estate returns have been filed although the estate attormey obtained an EIN for the estate. ON 4/16… read more
Barbara
Barbara
Enrolled Agent, Paralegal
11,832 satisfied customers
I'm the beneficiary of a trust which has no money only a
I'm the beneficiary of a trust which has no money only a house. Can I deduct the property taxes on the house on my personal income tax? … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
17,676 satisfied customers
A retail store building is in a capital lease arrangement
A retail store building is in a capital lease arrangement with a city in IL. The lease is treated as a capital lease and held by a partnership. The lease terminates April 2019. Management is contempla… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
5,275 satisfied customers
My sister and I sold an inherited home within one year of
My sister and I sold an inherited home within one year of the inheritance. Her preparer used Form 4797. There was a loss of over $70,729.00. The following year was the trust's final filing and there i… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,003 satisfied customers
Investment section says I have an $816 loss carryover from
Investment section says I have an $816 loss carryover from 2016. Where do I enter that loss? I have the 5 person return package. … read more
Arthur Rubin
Arthur Rubin
Tax Preparer
Doctoral Degree
1,793 satisfied customers
BENEFICIARIES OF A SIMPLE TRUST, SOLD RENTAL PROPERTY WITH A
BENEFICIARIES OF A SIMPLE TRUST, SOLD RENTAL PROPERTY WITH A GAIN AND ORDINARY INCOME FROM DEPRECIATION RECOVERY. HOWEVER K-1s SHOW NO AMOUNTS TO REPORT. THERE IS A FEDERAL TAX BALANCE DUE FOR THE TRU… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
5,275 satisfied customers
I have final 1041 with capital gains and rental losses. Th
i have final 1041 with capital gains and rental losses . Th gains and losses are netted on 1041 . ONLY The capital gains is still showing up on Kl. Does it not amount to double taxation? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,003 satisfied customers
Just finished 1120S. Want to make sure I understand what K
Just finished 1120S for corporation. Want to make sure I understand what K means. I have a primary shareholder that shows 71k in ordinary business income and -900 in Net Rental Income. How does the re… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
17,676 satisfied customers
My client's father passed away and his rental property went
My client's father passed away and his rental property went into a living trust, of which my client and her sister are 50/50 beneficiaries. I've prepared many business returns but seldom work on trust… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
33,007 satisfied customers
My mother died 4 years ago, leaving her primary residence in
My mother died 4 years ago, leaving her primary residence in a revocable trust, with me and my sister as co-beneficiaries. (I am the successor trustee.) Because we did not want to sell the house, we h… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,321 satisfied customers
How to handle loss for line 22, of $1302. Form 1041, for final
How to handle loss for line 22, of $1302. Form 1041, for final tax return. Adjusted total income is a loss of $702. on Decedent's Estate?… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,321 satisfied customers
I am preparing a Form 1041 for the final return of a decedents
I am preparing a Form 1041 for the final return of a decedent's estate (trust making a section 645 election). There are 3 sources of income: 1. $60 of ordinary dividends 2. Capital loss of $2000 (shor… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,321 satisfied customers
I have a bypass trust which will recognize a capital loss this
I have a bypass trust which will recognize a capital loss this year. When the surviving spouse passes away, what will happen to the capital loss carryforward?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
33,007 satisfied customers
I am filing a 1041 for my mothers estate. She died in 2011.
I am filing a 1041 for my mother's estate. She died in 2011. There was some income from the rent earned on her home through Sept. when I refinanced her reverse mortgage and took title. But with taxes … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
33,007 satisfied customers
I own/live in a condo, and I rented out one of the rooms in
I own/live in a condo, and I rented out one of the rooms in 2009. I stopped renting at the end of 2009. Do I stop depreciating the property in 2010? It seems that that the tax software I'm using (TT) … read more
BK-CPA
BK-CPA
Bachelor's Degree
919 satisfied customers
I have three Grantor Irrevocable Trusts that each have a k1
I have three Grantor Irrevocable Trusts that each have a k1 from part ownership in an LLC. I know that I need to account for this on my personal return. My question is where? Do I file a Sch C for eac… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
I own a duplex that I have under an LLC partnership with my
I own a duplex that I have under an LLC partnership with my wife. I do all the repairs for the place. I am having problems with 1065 Form using HR Block Business. The numbers do not sound right when I… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
Hello gaain. I have these questions as I prepare the final
Hello gaain. I have these questions as I prepare the final 1041 after the property closed May 25 2010. Assume that I am the Executor. Sale of rental property was the only income for the estate in 2010… read more
Arthur Rubin
Arthur Rubin
Tax Preparer
Doctoral Degree
1,793 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