My income is above the state median income for one person however I pay all the bills in a household of 7.

This forum is to answer legal questions. You are asking a question that is wholly unrelated to the tax law. "Median income" has no significance...

Can I claim Capital Loss from Year 2018 in Year 2019 Tax Return?

Agree with Mr. Talarico & Osgood. You should always claim the capital loss in the year incurred: if you had no capital gains to offset the loss...

Can be buying Bitcoin (BTC) considered as an LLC expense for taxation purposes?

Bitcoin is considered currency. When you purchase Bitcoin, it is an investment, not an expense. You really need to consult a tax advisor: ...

You do not state whether this is an Ohio trust, or whether it is based in another state. Under the Ohio Trust code, if you are a current...

Do I pay taxes on lottery winnings from the United Kingdom?

Agree with Ms. Shaffner. You should take some of your winnings and get professional assistance in preparing your tax return, as well as investing...

What are the assistant living and nursing home Medicare/Medicaid options for an elderly person over 80?

Many facilities have Social Workers on staff who can help with the Medicaid application process. If the facility where your father is currently...

Mother passed away. Does Father still owe arrear child support to her estate?

The debt is an asset of your mother's probate estate. You will need to open a probate estate for your mother in order to collect. As this is...

You may qualify for some kind of special treatment -- such as an "Offer in Compromise." You definitely want to work with a local tax professional...

If you relied on H & R Block to e-file your tax return and they failed to do so, you probably have grounds to get your penalties (but not the...

Tax law, the lender of an noncollectable loan may write off their loss and the defaulter is now liable for taxes on their gain.

This is the general rule, under Section 108 of the Internal Revenue Code. However, there are exceptions to this general rule. You should...