Do I have to report the money I get from selling my half of the house because of divorce to IRS and pay capital gain tax ?
Alena's answer
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Answered on February 11, 2025
While you generally need to report the sale and may be subject to capital gains tax, you may qualify for exemptions under specific conditions...
If you live in a community property state like TX and have a WY LLC, how could you inform the IRS to treat it as disregarded?
Alena's answer
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Answered on February 10, 2025
You can usually change your entity classification from partnership to disregarded for federal tax purposes if certain conditions are met, but there...
Do I have to file W2 for money. Never received from attorney?
Alena's answer
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Answered on February 10, 2025
Generally speaking, the IRS relies on the information provided by the employer on the W2 form to determine your income, and it is your...
Does personal bankruptcy address debts already involved in a debt relief program (Americor) and possibly IRS debt?
Alena's answer
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Answered on February 09, 2025
Generally speaking, bankruptcy can discharge certain IRS tax debts, but not all. Priority taxes, taxes from unfiled or fraudulent returns, and...
Is there a way to qualify for Head Of Household if I have Two children that don't live with me?
Alena's answer
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Answered on February 08, 2025
Generally speaking, no. Qualifying relative for head of household status still necessitates that the individual lives with the taxpayer for more...
Gift taxes?
Alena's answer
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Answered on February 08, 2025
Generally speaking, the critical factor is the donor's intent, which must be assessed based on the facts and circumstances surrounding each...
Am I eligible to receive the Earned Income Credit?
Alena's answer
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Answered on February 08, 2025
Generally speaking, you may be able to qualify for the Earned income credit even if you can't claim children on your tax return. Typically, you can...
Can there be many head of house in the same house as long as each claims different qualifying children?
Alena's answer
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Answered on February 07, 2025
Generally speaking, each adult can claim head of household status if they each claim different children as their qualifying children and meet the...
Can a judge allow zero expenses and just go on your real estate income?
Alena's answer
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Answered on February 07, 2025
If you referring to family law judge, you should repost your question in Family law section on Avvo, it is showing in tax category now. For tax...
Applying for EIN after dissolving the business
Alena's answer
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Answered on February 07, 2025
Generally speaking, yes, since your LLC was dissolved without obtaining an EIN initially, you will need to apply for one now.
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