How Do You Determine the Cost Basis of an Inherited Property Without an Appraisal?
Learn practical methods to determine the cost basis of inherited property without an appraisal, using tax assessments, sales analysis, and more.
Investment and Financial Markets
Can I Amend My State Tax Return Only Without Changing My Federal Return?
Learn how to amend your state tax return without altering your federal return, including reasons, processes, and potential implications.
Where to Find Ally Bank Federal ID Number on 1099-INT
Discover how to locate and use Ally Bank’s Federal ID on your 1099-INT for accurate tax filing, and learn steps to address common form issues.
Where Are Guaranteed Payments Reported on Form 1040?
Learn how to report guaranteed payments on Form 1040, including filing prerequisites, schedule identification, and self-employment tax calculation.
How to Handle S Corp Mileage Deduction for Business Expenses
Learn how to effectively manage S Corp mileage deductions, including eligibility, reimbursement methods, and essential recordkeeping practices.
Do I Need to File CT-3-S or CT-6 in New York?
Navigate New York’s tax forms with ease. Understand the nuances of CT-3-S and CT-6 filings, ensuring compliance and accuracy in your submissions.
529 Room and Board: Can You Use It While Living at Home?
Explore how 529 plans can cover room and board costs, even when living at home, and learn about eligible expenses and necessary documentation.
401k Nondiscrimination Testing Refund: What You Need to Know
Understand the essentials of 401k nondiscrimination testing refunds, including reasons, calculations, handling, and tax implications.
When Does the IRS Pay Interest on Refunds?
Learn when and how the IRS pays interest on tax refunds, including timelines, calculation methods, and reporting requirements.
Cashing Out an IRA After 65: What You Need to Know
Explore the key considerations and tax implications of cashing out your IRA after age 65 to make informed financial decisions.
What Will Happen if You Enter the Wrong Amount on Federal Income Tax Withheld?
Learn the implications of entering incorrect federal tax withholdings and how to correct errors to avoid penalties and ensure accurate future filings.
Is Adoption Subsidy Considered Income for Tax Purposes?
Explore how adoption subsidies impact your taxes, including criteria for non-taxable status and effects on government aid.
How Long Does It Take to Get a Letter From the IRS in the Mail?
Discover the typical timeline for receiving IRS letters, factors affecting delivery, and steps to take if your correspondence is delayed.
What Is the Applicable Check Box on Form 8949 and How Does It Work?
Understand the role of the check box on Form 8949, its impact on tax reporting, and how it differentiates covered and noncovered securities.
Are Staging Costs Tax Deductible for Your Property Sale?
Discover how staging costs can impact your property sale taxes, including key considerations and essential documentation for accurate filing.
How Long Do You Have to Live in a State to File Taxes?
Understand the nuances of state residency for tax purposes, including filing obligations and the impact of changing your state of residence.
Did You Make Money in Any Other States? Here’s What to Know
Navigate multi-state tax obligations with ease. Learn about residency, income allocation, and credits for taxes paid in other states.
How to Report Distributions in Excess of Basis for an LLC
Learn how to handle LLC distributions that exceed member basis, including tax implications and reporting requirements.
Can I Call the IRS on Behalf of Someone Else?
Learn how to navigate IRS protocols for discussing tax matters on behalf of others, including necessary authorizations and identity verification steps.
What Is IRS Extension 362 and How Do You Apply for It?
Learn about IRS Extension 362, its purpose, eligibility criteria, application process, and steps to take after approval.