Income Tax Questions

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Are you having difficulties with your income taxes? Here on the Income Tax Questions page you can ask any question you want pertaining to IRS tax questions, federal tax questions, and other questions you may have about your income taxes. It's free and easy to do. 

Income Tax Questions

In response to the amount of questions I have been receiving via email, I decided to start this page to answer any questions you have about problems with your income taxes.

Submit income tax questions ~ Read questions and answers

Rather than answering individual questions via email, this will give everyone a chance to read about problems that others are having too, and find out how to solve them. It will become a FAQ about Income Taxes that will be beneficial to everybody.

There is all kinds of valuable information to be found here. IRS laws can be confusing and it can be overwhelming trying to figure out exactly what the publications are saying.

It is scary not knowing whether or not you are doing things correctly and it is always helpful to be able to validate your findings. This income tax questions and answers forum is great for that.

The advice I give is only from my experiences, and I don't have experience with everything. So, if you are a business owner or professional who has experience with any of the questions you find here, please help me by also contributing to the answers.

This is a two way web page...you and me. You can ask a question, answer a question or do both. You will become my co-expert on these questions by rating and submitting comments. The more interactive the better.

Of course you can still contact me if you have a question that you feel would not benefit others or needs a personal response. The tax questions found here have been broken down into subcategories for greater ease of use.

Income Tax Questions and Bookkeeping Advice

Bookkeeping Questions

There will also be a separate page to ask bookkeeping questions. In addition to being able to ask a question about your bookkeeping problems, you can also read previous bookkeeping Q&A's on that page as well. All of the information found on the bookkeeping questions page has been broken down into subcategories.  

All other questions about any aspect of income taxes can be asked just below, on this page.

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Ask questions about any area of income taxes. You can even answer questions that have already been asked. It's free, it's easy and it's fun.

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What Other Visitors Have Said

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Income Tax Calculation Questions 
If Harry made $16,000 last year at his job and he paid 11% in income tax, how much was his tax?

Sales Income Tax Questions 
I have not filed income taxes for 15 years because my only income is Social Security. I sold my moms house this year and the profit was $170,000. This …

Capital Gains Income Tax Questions 
Can I buy a house and sell my old house after a few months. What will be the tax liabilities?

How To Tax Questions 
My husband and I married in 2010 and we did a joint tax return. We received a $600 refund. Nothing has changed from 2010 except that I got a $10,000 raise …

Self Employed Income Tax Questions 
Hello - first of all thank you for reading this. I actaully have a few questions about what I need to do , what I need to bring for filing my 1st self …

Income Tax Refund Questions 
I am head of household and have a 4 year old son and made just a little over $7,800 this year. What's the estimate for my income tax refund ?

1040 Income Tax Questions 
Good Morning, Up until 7/31/11 I had been working as a full-time employee (W-2). From 8/1/11 to the present, I have been working as a computer consultant …

Claim Income Tax Questions 
Hi all. I'm not sure if your excellent site covers questions from United Kingdom residents - hope so. In December 2009 I purchased a buy to let property …

Capital Income Tax Questions 
I think payroll have been filling in the payroll P11d form wrong. Because I made the choice to have a car that is above my grade, I have to make a capital …

Estimated Income Tax Questions 
Do you have a chart to show how much taxes I would have to pay when I retire with my pension and social security?

Life Income Tax Questions 
Hi--I am separated (not legally) from my husband and live in a different state now. We sold our home last year and I rent now and have 2 children--one …

401k Income Tax Questions 
I took a lump sum distribution from my 401K plan and paid federal taxes on it. here do I put it on my 1040 form and do I owe any further taxes? …

Separation Income Tax Questions 
Hi, I live in Florida and my husband has lived in Arizona for over a year. There are no signed papers, so we are still legally married. He pays …

Income Tax Filing Questions 
Both my Wife and I are on Social Security, but I am also employed. Should we file as "Married filing jointly", or should I file singly with my Wife as …

Married Filing Separately Questions 
I am retired and have very little income besides social security and pensions. The problem is that I owe over a $100,000.00 in back taxes I pay a monthly …

Should I File Questions 
In the year 2009 I didn't work as much I only made $2151 because I kept getting laid off and I want to know if I would qualify to file taxes and maybe …

Taxable Income Tax Questions 
Hello, Please help: Is alimony taxable?

Write Off Income Tax Questions 
I have a few questions regarding write offs. I have been working as an independent sales rep for about 4 months. It requires driving to a meeting with …

Charitable Contribution Income Tax Questions 
Can I claim part of my charitable donations made in 2011 on my 2012 taxes instead of claiming all of them in 2011? I recently donated quite a few …

State Income Tax Questions 
My husband has a Calif Income Tax lien that is over 20 years old. Is this still valid? On a website I was reading it says it is only good for 10 …

Status Tax Questions 
What happens if you file married but have different last names?

Pay Income Tax Questions 
My company cut our pay by 3% can I deduct that as a loss on my income tax?

Home Income Tax Questions Not rated yet
I purchased a second home for personal use only. I got it at a certain price because it was not habitable. I spent 21000 on things like roof, mold …

Residency Income Tax Questions Not rated yet
My Nephew lived with me for about nine months due to problems at home. I claimed him on my income tax as dependent and for EIC. I filed as Head of …

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Cash Income Tax Questions Not rated yet
My parents, who are deceased had a life insurance policy on me. I cashed it in in 2011. Cash-in value was less than $1,100. Are the proceeds taxable …

Divorce Income Tax Questions Not rated yet
I'm in the process of getting divorce. My separation date may 13, 2011. But we were living together until august 25, 2011. I had been the only provider …

W-2 Income Tax Questions Not rated yet
Hi, My employer has provided me only 1 W2 for 2 states (Illinois and Texas). I submitted my tax returns with only 1 W2 and as per that I have to pay state …

Insurance Income Tax Questions Not rated yet
Can the IRS take the life insurance I leave my wife upon my death?

Age Income Tax Questions Not rated yet
I am 76 years old work full time and draw social security benefits. How do I make sure I deduct correctly or how do I file?

Income Tax Payment Questions Not rated yet
Received a check for $20,000.00 for a gas lease. Do I need to pay estimated tax on this? I am employed and have taxes withheld from my checks but …

Student Income Tax Questions Not rated yet
How much income do I have to make in order to file income taxes as a student?

Amendment Income Tax Questions Not rated yet
I claimed two children that I support as relatives instead of dependents. Can I do an amended return to make corrections?

Foreign Income Tax Questions Not rated yet
My husband started working for a contracting company in Afghanistan in September 2011. I was under the impression that his income was nontaxable. …

Child Income Tax Questions Not rated yet
I have a disabled daughter 30 years old she lives with me and collects $9600 SSI . Can I claim her on my federal taxes?

Life Change Income Tax Questions Not rated yet
I have been filing married filing joint for over 40 years. Can I change to head of household and my wife to married filing separate?

Legal Income Tax Questions Not rated yet
I paid all the fees associated with opening and closing an estate for my dad because he dies intestate. Can I claim those attorney's fees on my 2012 …

Income Tax Income Questions Not rated yet
In a case where an individual is usually Australian Resident but for the Indian previous year March 2012 ending he is also Indian resident. The interest …

Disability Income Tax Questions Not rated yet
For some disabled veterans in 2012. The state already exempts some vets from paying property tax on their homes if they've been declared 100 disabled …

Income Tax Loss Questions Not rated yet
Approximately what will we get back from a disaster declared of 40,000 having lost our home?

Domestic Partner Income Tax Questions Not rated yet
Can my boyfriend whom I live with claim me on his income taxes? I didn't work at all last year and was totally dependent on him financially. I …

Income Tax Responsibility Questions Not rated yet
I'm married but my husband doesn't work I also have SI and welfare but still work. I had filed jointly for my taxes. Will I be responsible for his …

How Much Income Tax Questions Not rated yet
If I have 2 dependents other than me a my wife how much money do I get?

College Income Tax Questions Not rated yet
If i am 19 and I'm in college how much would it get back if my mom carry me?

Cost Basis Income Tax Questions Not rated yet
I sold a home in 2010. My husband has been running a small business out of the home since 2003, and we've been depreciating the portion of the home attributed …

Work Income Tax Questions Not rated yet
Can I (wife) who doesn't work do a traditional IRA with husband making $140,000?

Conservatorship Income Tax Questions Not rated yet
I'm the conservator of my father, not for his finances just for the person. I get $1,500 a month that was court awarded. Is that money taxable?

Declaring Income Taxes Questions Not rated yet
In the state of New Jersey, are you able to declare your self as your own dependent in the tax forms?

Medical Income Tax Questions Not rated yet
Hi, I've bought a flat whose possession is due in Jan 2012. Its distance from my office is around 35 kms, thereby making daily commutation difficult for …

Career Income Tax Questions Not rated yet
What are the personal tax and NI liabilities for ATI payments received from a former employer? These ATI payments are directly linked to royalties …

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Head of Household Income Tax Questions Not rated yet
My husband and I have been living apart for 7 months, we have 3 children and have agreed on everything without having to get a mentor involved. We have …

Adoption Income Tax Questions Not rated yet
I am retired and I moved in with mom to take care of her. She is 91 yrs. old and can not be left alone. I am also raising a 9 yr. old step-grandaughter …

IRA Income Tax Questions Not rated yet
I have a disability and had to quit my job. I receive monies from UNUM Life Insurance third party plans (through my past employer)and receive a W-2 …

Employee Income Tax Questions Not rated yet
My first two checks after transferring were about $100 short because my employer took out that amount for AZ state tax. It should have been less than …

Income Tax Itemization Questions Not rated yet
Is is necessary to have $10,000.00 in itemized deductions for us to deduct medical / Rx drug expenses?

Spousal Income Tax Questions Not rated yet
My husband is caring for my aunt and is paid from her bank account. Can I have the checks made out to me so he doesn't spend it all at the bar? …

Income Tax Education Questions Not rated yet
I'm a full time independent student who has a dependent. I only worked two weeks out of this year through a program called put Illinois to work. I …

Roth IRA Income Tax Questions Not rated yet
My ex husband is starting an Roth IRA for our daughter for 2100 dollars and is sending me her 1099 for taxes do I have to pay taxes on this money since …

Investment Income Tax Questions Not rated yet
I pay an advisory fees to manage a portfolio of investments, mainly stocks, and the fees are based on the value of the portfolio. Annually I get a …

Fraud Income Tax Questions Not rated yet
Can money loss due to fraud be taken off your income tax?

K-1 Income Tax Questions Not rated yet
Do I have to file a K-1 on which very little income was made?

Income Tax State Questions Not rated yet
I am a Canadian citizen living in Canada. I am originally from England. I have been making cotributions to the British state pension plan. I will have …

Widow Income Tax Questions Not rated yet
My husband passed away in July 2011, he was 67, he was collecting full social security and unemployment. I do not work am I required to file taxes …

Taxes Income Tax Questions Not rated yet
In India I took business after death of my father in last quarter of year and paid advance tax in last month of year that is March. Will I be asked …

Partnership Income Tax Questions Not rated yet
I had a business with a friend. A 50/50 partnership. The business ended up failing. My partner never paid taxes on the business and now the IRS is …

About Income Tax Questions Not rated yet
How do I give my date of birth on a pan card form?

Inheritance Income Tax Questions Not rated yet
If I am left an inheritance from my mother after she passed, do I have to file it on my income taxes? I am retired.

Asset Income Tax Questions Not rated yet
Hi I invest in shares and monitor the market via a website which costs me $60.00 per month. I buy/sell shares based on the advise from this program. …

Trust Income Tax Questions Not rated yet
Before my Mother passed away in 2010, we put everything of hers into a Trust. We did not know that the deed (house is paid for) should have been transferred …

Casualty And Theft Income Tax Questions Not rated yet
Lost some equipment in a fire. Insurance paid the replacement cost of the item, which resulted in a gain, and the item lost still had depreciation value. …

Year Specific Income Tax Questions Not rated yet
If I divorced in 2007 and sold the house in the process, Do I need to report this sale of home on my return? The house was sold for 245k, after commission …

First Time Income Tax Questions Not rated yet
Hi, I am about to do my first tax return on etax, just got my friend told me that I can can claim back my dividend from previous periods. How would …

Contract Labor Income Tax Questions Not rated yet
I am a contract employee and may make 28000 this year. I have two children. What are chances I may just break even instead of owing a bunch in taxes? …

Salary Income Tax Questions Not rated yet
I am working in IT company and am getting tax deduction on my whole salary . I have purchased open land/plot on installments.do i need to declare the …

Workers Compensation Income Tax Questions Not rated yet
I received a settlement in a workers comp case and want to know if it is taxable Federally and in PA?

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Stock Income Tax Questions Not rated yet
If I sell a stock at a profit this year, which I purchased in previous year, then use the profits to purchase another stock so no money ever comes out …

Interest Income Tax Questions Not rated yet
I am buying a house in Germany that will be my primary residence and I am wanting to know if I can claim the mortgage interest/expenses on my US taxes. …

Married Income Tax Questions Not rated yet
My husband and I got married late October 2010. We continued to live in different states in separate households until January 2011. I filed head of …

IRS Income Tax Questions Not rated yet
I currently owe the IRS around 20,000 in back taxes from a previous job my husband had. He was let go of this position and we were unable to pay and …

Gift Income Tax Questions Not rated yet
I have got three married daughters and no son. Me and my wife, aged nearly 70 years, are managing HUF of which I am the karta. Me and my wife are …

Income Tax Preparer Questions Not rated yet
We just started a section 125 plan. I know federal, FICA, FUTA are exempt. But are state, local and SUI tax exempt as well?

Corporation Income Tax Questions Not rated yet
I want to change my sub-s corp from a Kansas corp to a Florida corp. I own real estate in Kansas under this corp. What will my tax situation be regarding …

Penalty Income Tax Questions Not rated yet
Penalty for delay in audit u/s 44AB is levied. It is pleaded before the CIT (A) that owing to the continuous illness of the accountant it was delayed, …

TDS Income Tax Questions Not rated yet
Please tell me sir I am 62 yrs old and I don't have any source of income. My wife died this year and I have got Rs 24 lacs from her office (gratuity …

Parent Income Tax Questions Not rated yet
My wife and I separated in 2006-2007, and I was deemed the non-custodial parent, living in a separate house. I sold that house in 2009, reconciled …

Superannuation Income Tax Questions Not rated yet
I have a client that has put aside x$ for an employees super fund if they stay employed up till a certain period. They collect if they stay to that …

Sweepstakes Income Tax Questions Not rated yet
I recently won the Marlboro sweepstakes Prze 5000$ american express gift of travel along with a check for 1,700$ Due to illness I have been unemployed …

Transfer Income Tax Questions Not rated yet
I'm in a situation where I have a pension income as well as a working full time income. Taxes kill me. This year I paid $285 that I owed. This after …

1099 Income Tax Questions Not rated yet
When is it necessary for a sole proprietorship to file a 1099 ? You should file a 1099 as a sole proprietor any time you pay someone contract labor …

Income Tax Reporting Questions Not rated yet
Is it true, in cases of separation without a divorce in place, the court appointed, custodial parent has the authority to claim the children on taxes? …

Donations Income Tax Questions Not rated yet
My church owns a rental house. The tennant moved out after 17 years. I told the church I would provide the work on the inside to get it ready to rent …

Deceased Income Tax Questions Not rated yet
My husband's grandma passed away on 05/20/10 and only had pension of $1,384.50 (1099R), $2,484.06 of cancelled debt (Form 1099C) and $5,787.00 in SS (SSA-1099). …

More Income Tax Questions Not rated yet
How much transaction will take search income tax in state bank of india?

Auto Income Tax Questions Not rated yet
I received a $500 per month auto allowance. It showed up on my W2 without anything with held making my taxable income higher. Can I deduct mileage …

Debt Income Tax Questions Not rated yet
I entered into an agreement to purchase a lot in a coastal subdivision in South Carolina. Subsequently, I was informed by an attorney in Virginia where …

Income Tax Help Questions Not rated yet
If you have no tax what happens with your income tax?

1098 Income Tax Questions Not rated yet
In previous years my son's 1098 form was sent to me (parent) and I included it in my 1040 income tax filing. This year the university in which he …

Business Income Tax Questions Not rated yet
We purchased a computer for use in our home-based business. The computer was purchased in Oct. last year, and we are making monthly payments on it. …

SSDI Income Tax Questions Not rated yet
My wife is disabled and recieves SSD checks every month. She can no longer work. Can I claim her as a dependent.

Mother Income Tax Questions Not rated yet
As a U.S. citizen leaving in Israel, I gave birth in 2010 and received a 3-month paid maternity leave. The money came from the National Insurance Agency …

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Mileage Income Tax Questions Not rated yet
If your employer pays mileage by. Totaling then subtracting 30 can I turn in my unpaid mileage. Which would total 212 times 30 for a total of 6360. …

American Opportunity Credit Income Tax Questions Not rated yet
Can I claim my student loan interest that I paid all year under the American Opportunity tax credit form even if I graduated that year? I didn't get …

Miscellaneous Income Tax Questions Not rated yet
Our church gave a needy family 500.00 benevolence for 1 year. Are they to be taxed on this as income?

Gambling Income Tax Questions Not rated yet
I am claiming $1600 in winnings. Will claiming $1600 in losses reduce my taxes owed?

Quarterly Income Tax Questions Not rated yet
I sold a stock in the first quarter of this year and established a long term capital gain. I have to make a quarterly tax payment on the gain in the …

Moving Income Tax Questions Not rated yet
I’m 70 years old. I have been very sick. I moved from florida last July to Indiana to be with family. How will this affect my taxes?

Income Tax Forms Questions Not rated yet
1040 form where do I insert the amount for Medicare Part B and Part D?

Withdrawal Income Tax Questions Not rated yet
We cashed out a retirement account early in 2010 and at the withdrawal time I had 20% of the amount removed to pay for Federal income tax. Now that …

Previous Years Income Tax Questions Not rated yet
How do I get my refund when I still owe part of it to a previous years tax?

Family Income Tax Questions Not rated yet
I am married, can my husband and I file completely seperate tax returns, as if we are single?

Money Income Tax Questions Not rated yet
Im twenty years old and I want to know how much does my dad get for claiming me as a student on his taxes?

Gas Income Tax Questions Not rated yet
Can you deduct the amount you pay for gas guzzler tax on a new car?

Earned Income Tax Credit Questions Not rated yet
We received an out of court settlement in a liability suit we filed. It was only $3250.00. Do we have to claim this as Earned Income and where do we …

Beneficiary Income Tax Questions Not rated yet
As beneficiary of a whole life insurance policy, what portion of the proceeds are taxable, the base policy amount (eg 10,000), the amount that appreciated …

Royalties Income Tax Questions Not rated yet
Under contract for using a prodcut a company requires a 25% royalty payment be issued for sales where the product is involved. Are the funds that …

Income Tax Liability Questions Not rated yet
I am on permanent disability and I have invested in a Research and Developement corp for a project I designed. Do I qualify to receive my invested …

Unemployment Income Tax Questions Not rated yet
Hello, My name is Diane and I live in Michigan. I had been working full time and I also had a face painting business that I would do on weekends. …

LLC Income Tax Questions Not rated yet
I am part of a 2 member LLC. Both myself and my business partner worked this year at other jobs and each made less than 10k. My partner and I started …

Retirement Income Tax Questions Not rated yet
Is there apenalty for not taking a withdrawl from a tax free account such as an IRA after reaching age 70.5?

What To Do Tax Questions Not rated yet
I have my W2 from my regular job, and I also started a business in which I had a major loss of expense. I was filing my tax, on my w2 I had 0 federal …

Exemption Income Tax Questions Not rated yet
Hi, Im a full time student working part time 15 hrs/wk. I was filling out my W-4 and didn't know whether or not I can be exempt from Federal Withholdings? …

Theft Income Tax Questions Not rated yet
I was the victim of an inventors scam and the company was found guilty and ordered to pay the SEC 26 million. $700 was paid back to me in the judgement …

Deduction Income Tax Questions Not rated yet
I am working in a software company, not as a salaried employee but as a consultant. I am receiving fees from the company and company is deducting TDS …

Mortgage Income Tax Questions Not rated yet
I recieved a reverse morgage on my house in May 2010 Pay 7800 of it to federal government. Do I have to pay more tax on Federal Income taxes?

Income Tax Deferral Questions Not rated yet
Should I withdraw from 457 deferred comp acct.which is in mutual funds. to pay off house mortgage. Household (wife and me) income is $103,000 pension …

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House Income Tax Questions Not rated yet
Hello and thanks in advance for your help, Am I eligible for the D.C. First Time Home Buyer Credit if I have to repay the federal First Time Home Buyer …

Travel Income Tax Questions Not rated yet
Dear team, Recently i had travelled from Mumbai to Cochin and returned from Trivandrum to Mumbai by air visiting multiple places in Kerala. I have …

Can't Pay Tax Questions Not rated yet
I withdrew $30,000.00 from a retirement acct. to survive. At tax we found that we owed $8040.00 in taxes(federal). We did not file the taxes. We did …

Military Income Tax Questions Not rated yet
My mother just passed away. My father made $49,930 in 2010. Should he apply for the three months of VA benefits he's entitled to ($4,680) or would …

Bankruptcy Income Tax Questions Not rated yet
If you have filed personal bankrupcy several years ago, can your income tax refund be with held.

Income Tax Return Questions Not rated yet
On verifying the credit of Tax deducted at Source, I found that the tax deducted by one of my employer is not appearing in Form 26AS. I requested the …

Rent Income Tax Questions Not rated yet
My rental property was completely destroyed by fire. My insurance company denied the claim, so when I filed my tax return, I reported a loss of $30,000 …

Social Security Income Tax Questions Not rated yet
In 2009 I had two jobs that resulted in excess social security being withheld. I understand how to get a refund for this excess. BUT in October I started …

Dependent Income Tax Questions Not rated yet
Can my live in boyfriend who collects ssi (680 per month)be a dependent of mine. He has no other income. He collects ssi due to depression/bipolar …

Pension Income Tax Questions Not rated yet
I recently retired. I receive a small monthly pension. My total pension is a little more than $6000 a year. I have no other pension. I have a new job …

Property Income Tax Questions Not rated yet
My rental property was demolished midway in 2009 by the city of Birmingham, AL. I still own the land. What is the tax treatment? I was not paid …

Unanswered Income Tax Questions Not rated yet
Do I have to file a 1099 if I earned under $3000 as an independent contractor?

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