Questions answered by Magda Abdo-Gomez

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Could he be audited for claiming my children for EIC?

Magda's answer | Answered on April 01, 2016

The IRS can audit any return. If he qualifies for the EIC there should be no problem even it he is audited. You can use the IRS's EIC calculator to...

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How would filing married and jointly work if I'm in the process of AOS and I have no social security or tax number?

Magda's answer | Answered on April 01, 2016

It is possible to file a joint return even if one of the spouses does not have any income. You should look into obtaining an ITIN.

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Do i have to file the state taxes if i only lived in USA for only 14 days at 2015 (California)

Magda's answer | Answered on April 01, 2016

Taxable Income A U.S. resident alien's income is generally subject to tax in the same manner as a U.S. citizen. If you are a U.S. resident...

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Is there any way that will help mitigate or avoid the tax on $850,000 of capital gains when my home is sold?

Magda's answer | Answered on April 01, 2016

I believe this was asked a few minutes ago. The answer remains the same. There are certain exclusions for the sale of a principal residence if...

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Please guide me here if my W4 is correct per my status.

Magda's answer | Answered on April 01, 2016

Per the W-4 the "2" is correct. However, you can reduce that to 1 or 0 in order to have more withholding from your wages. The tax calculation is...

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How should one determine the tax residency/non-residency status?

Magda's answer | Answered on April 01, 2016

The pages you cited have flow charts to help you make this determination. If you cannot make a determination from the information provided in the...

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Can I make a contribution to my Traditional IRA using money I made by selling stocks in 2015?

Magda's answer | Answered on April 01, 2016

The sale of stocks is not earned income.

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Taxes and modifying support

Magda's answer | Answered on April 01, 2016

I think your divorce attorney would be the proper person to address these issues.

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I earned $500 last year, but made $9000 by selling stocks. Am I required to file a tax return?

Magda's answer | Answered on April 01, 2016

I always recommend to clients that they file a tax return even if they do not owe taxes. The IRS only has a certain amount of time to audit a...

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Do I need to claim the amount on the cancellation of debt form on my taxes?

Magda's answer | Answered on April 01, 2016

What you have received is notification that the debt has been forgiven. A forgiven debt is considered income which is included in the tax return...

Magda Abdo-Gomez's Answers (1527)

Could he be audited for claiming my children for EIC?

How would filing married and jointly work if I'm in the process of AOS and I have no social security or tax number?

Do i have to file the state taxes if i only lived in USA for only 14 days at 2015 (California)

Is there any way that will help mitigate or avoid the tax on $850,000 of capital gains when my home is sold?

Please guide me here if my W4 is correct per my status.

How should one determine the tax residency/non-residency status?

Can I make a contribution to my Traditional IRA using money I made by selling stocks in 2015?

Taxes and modifying support

I earned $500 last year, but made $9000 by selling stocks. Am I required to file a tax return?

Do I need to claim the amount on the cancellation of debt form on my taxes?