Are Foreign Citizens / US Non-Residents Taxable For Capital Gains When Remitted to a US Bank Account?
Thomas's answer
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Answered on May 20, 2021
The general rule is a NRA capital gains on securities are not taxed by the USA. Depositing the proceeds in a US bank account has no impact on this...
If all my money is in crypto, do I have to incur state, federal, and capital gains to convert some to USD to pay my taxes?
Thomas's answer
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Answered on May 20, 2021
Yes, you must report the gain/loss when you convert to US dollars.
Adverse possession?
Thomas's answer
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Answered on May 20, 2021
This person is trying to take title to the property.
You need to retain an attorney to represent you.
This is NOT a do it your self project.
I LIVE in Wi and WORK in Il. why am I being taxed by both states?
Thomas's answer
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Answered on May 20, 2021
Your 2020 income is fully taxable by Illinois until you moved to Wisconsin.
Once you moved to WI, your income is taxed to Wisconsin and not...
Can my wife and I take the $500,000 deductible when selling one unit of a 2 unit condo?
Thomas's answer
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Answered on May 18, 2021
The exclusion of gain on the sale of a residence only applies to a property that you actually use as your residence.
Therefore, the exclusion...
Am I responsible to pay sales tax on a purchase made a long time ago after the company realized it “forgot” to collect the tax?
Thomas's answer
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Answered on May 17, 2021
I recommend that you pay the tax because it is your liability.
A New York resident is required to pay the tax on untaxed purchases when they...
Judge signed dec 2020 that divorce granted . County clerk filed the judgment in feb 2021.. for taxes can I file single for 2020?
Thomas's answer
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Answered on May 17, 2021
The judge's order issued in 2020 ended your marriage before year end. You must file as single.
How much tax do I need to pay from the proceeds of a sale of a parcel of land in my home country.
Thomas's answer
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Answered on May 17, 2021
The amount that is taxable is:
Sales Price
Less Adjusted Basis
Less selling expenses
= taxable amount.
The adjusted basis is the Fair...
On my tax return I signed where my spouse was supposed to, how can I correct it?
Thomas's answer
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Answered on May 17, 2021
If both you and your spouse signed your return, it is OK.
You do not have to sign the return in the same order
How to file back taxes (2015-2016) after a divorce (2018)?
Thomas's answer
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Answered on May 17, 2021
It is too late for you and your x to elect to file a joint return for both years
Your 2017 return was due 4/15/2018 and your x filed separately....
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