Income tax reporting and taxes of inheritance of sale of house

The basis of the house is stepped up to the date of death value for purposes of calculating gain or loss. You should have received a copy of the...

I haven't had a job yet because I've just came to USA. Can I get $8000 tax credit for first-time homebuyer?

It would seem that your major limitation would be whether you are a non-resident alien. You are considered a nonresident alien for any period...

IRA for Mother approx $17,000 she died 12/26/09. The IRA was payable to the Estate and approx $2000 deducted for federal taxes.

If the decedent was over 59 1/2 at death, it is taxable for PIT purposes. However, remember that you are entitled to offset assets by various...

A federal tax lien was filed on 3/9/2000 for unpaid withholding taxes due in 1999. How long is judgment on property. Must pay??

Generally, federal tax liens last for 10 years from the recording date. In some cases, the IRS revives them right before the expiration...

If married but living apart for majority of the year, and has no child, can I and my wife file as single?

Just to clarify, your wife would have to file not as single but married filing separately. You should compare the head of household/married filing...

The only income is alimony and child support and alimony is 2000 month do you pay taxes?

Alimony is taxable income to the recipient and deductible by the payor. You must pay taxes on the alimony. Hope this helps. If you think this...

Are we responsible to answer to IRS after our father's death?

If your dad died without any probate assets and he did not gift you assets to avoid the IRS claims, then you have nothing to worry about. If there...

Your facts are not clear, but I will try to help. If the recovery is $5,200 then the PA Inheritance Tax on it (assuming no expenses to offset it)...

Employer is not sending ira contribution to my plan.

If you have demanded the employer to make this contribution without success then you should consider contacting the Department of Labor and the...

PA inheritance tax for joint real property

Yes, he now needs to pay tax on 50% of the property. It would also appear that he would have to pay the tax personally. However, you need to look...