The question is confusing and it is whatever the judge says it is. There is no guidance in the Code, nor should there be. So I take it that there...

Can a bad personal loan be deducted on your taxes/

A nonbusiness bad debt is deductible as a short-term capital loss. See Form 8949, at least it was in 2011. See Laser's, Your income tax 2012 pages...

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I agreee with the other attorneys. I want to add that the value of the property needs to be determined. It would be a shame if the property is...

How does he get cleared from irs when his gaurdian created a 30,000 debt when he was a child?

The situation you discribe seems to say the debt has caused an IRS tax bill, but I don't see how. Still, file a form 911 with the IRS and explain...

Is there a was to keep the IRS from taking my mother's life Insurance payout to me?

I agree with all the above. Note, that occasionally, the IRS will want an updated 433-A, but this is rare.

All the above are correct. Remember, you have to include Christmas gifts in the $13,000 computation. ...Of course, he could give you $13K and then...

Is it true that a non US resident, not living in the US, doesn't own any taxes for the US?

The US LLC may or may not need file a return, likely an 1120, not an 1120S (because you are not a US resident) or a Schedule C on a 1040NR. The...

I bought a rental property for 110,000. I refinanced for 169,000. The house went to foreclosure I also filed for bankruptcy

The is covered by IRC §108 - Cancellation of Indebtedness.. The transaction will be as if you sold the unit for the amount of the debt. Your cost...

I spoke with attorney, on my situation listed above, fee's are more then I can afford. Do i have to retain att. to file documets

In addition to the above answers, being an independent contractor will allow you to deduct expenses as any other business. Get Sch C and work on...

Estate/tax question: how to buy other siblings out of a paid for house without creating a taxable event

Note that you can make a "qualified disclaimer" under the IRC, and there is a time limit and lots of other requirements. Note that the house gets...