Jason Royce Mosley's Answers

Tax Liability, Divorce, Investment

It sounds as though the property was titled in your ex-wife's name after the divorce. If this is true, the taxes were paid by her and you were given your net share of the proceeds. While this is technically improper, assuming all taxes were ultimately paid on the transaction, you needn't fear an audit. If, however, your name was still on the property, your share of the income should've been allocated to you and you should have paid the taxes on your share. This would only be an issue if you...

3 lawyers agreed with this answer

Tax deduction for membership in 501(C)(3) organization?

Only the portion in excess of the value received is deductible. Establishing the value received is your burden. Until you establish that you contributed more than you received, none of the donation is deductible.

5 people marked this answer as helpful

Military move and wife is offered to keep job through home office Tax Deductions?

You can absolutely claim the travel expenses and the home office expenses in this situation. Any competent tax preparer can assist you in properly claiming the deductions. They may be subject to deduction floors, so keep careful track of ALL expenses she incurs that are associated with her job and that are not reimbursed by her employer.

3 people marked this answer as helpful

Cookies deductible?

While the answers below are generally correct, a cash payment in exchange for the cookies is presumed to not be a charitable contribution regardless of the value of the cookie in relation to the contribution made. In other words, if you get anything in return, there is a presumption that no part of the transaction included a gift. In order to rebut this presumption, you must show that the payment exceeded the value of the gift and that the excess was paid with the intent to make a gift. For...

1 person marked this answer as helpful

Trusts and divorce

As I understand your question, you are either the Trustee on the trust or the sole beneficiary of the trust. In either event, assuming the trust was properly drafted, the property should not be subject to a claim from your soon to be former spouse.