Can we claim our 4 grandchildre as dependant

If the children are under the ages of 19 (24 if student),were not married, are not claimed by anyone else as a dependent, live with you at least...

What can I do to remove these tax liens from my credit report?

Under the credit reporting act the lien may appear on your credit report for a period of 7 years after payment of the lien. I am not licensed...

Can tax returns be subpoenaed?

Whose federal tax returns are you trying to subpoena? The question is too vague to answer. I am not licensed in California and therefore render...

Do I need to add the gift amount in my gross income?

Gifts are not income to the recipient (you). Therefore, you do not include them on your tax return at all. Gifts are subject to gift tax, but...

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How long does Chapter 7 last and impact on selling a home?

It has been almost eight years since you filed for Chapter 7 bankruptcy. Not sure what you mean when you ask how long a Chapter 7 lasts. If no one...

Do i have to report a cash transaction on taxes if it was an inheritance?

Since the boat was inherited it is not include as income since no income tax is paid on inheritances. When you inherited the boat the basis of the...

Who claims child on taxes?

In order to claim exemption for the child you have to meet certain tests. I am going to assume that the child is under 19/24, Is not married and...

Does inheriting a home (not selling) in NY affect your income on your 1040?

Property you receive as an inheritance is not income and therefore not subject to income tax. Since you say you have not rented out the home there...

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Under Florida Statute refund resulting from earned income credit is exempt. This is in addition to the $1000 personal property exemption. However,...

I received a 1099 that I believe I shouldn't have. What do I do about it?

It is possible that the expenses could offset the income, but it all depends. Casualty losses are itemized deductions. I recommend that you contact...