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Bruce Givner

Bruce Givner’s Answers

3,027 total


  • Do I need to file Form 1065L

    Hi, I am a part of an investment club and we are registered with the IRS. We are a group of 18 people. Last year, we sold some shares from our portfolio at a loss of around 250$ (for the whole cub, not per person). Do we need to file a form 1065L...

    Bruce’s Answer

    You only have to file Schedule L if the partnership answers "yes" to all 4 questions in 6 of Schedule B.

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  • Does anyone have a revenue and taxation code or any advice to help me in fighting the assessor's office?

    I have a property held in joint tenancy. I transferred my 50% interest to my revocable living trust. The Los Angeles County Assessor's office has sent me a supplemental tax bill reassessing my property. They are saying that because I broke joint...

    Bruce’s Answer

    If you properly filled out the Preliminary Change of Ownership report by checking box H.1, then the county has made a mistake. You need to respond to the notice and probably show them a copy of your living trust.

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  • Can we use proceeds from the sale of our primary residence to pay off our rental home? Would there be tax implications?

    We live in California and have owned a rental property for 15 years that is almost paid. Can we use proceeds from the sale of our primary residence to pay off our rental home? Would there be tax implications?

    Bruce’s Answer

    Yes you can use the proceeds of the sale of your primary residence to pay off your rental home. Making the payment itself does not cause a tax. It is the sale of your primary residence that MIGHT cause a tax. That will be the case if the gain on that sale exceeds $500,000. IRC Section 121.

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  • As a 501c3 charity, are there any rules governing the operation of the board? Do I have any legal recourse to effect change?

    I am a volunteer for my local little league and involved in a dispute with the league's president. I discovered recently that our league president and board were operating outside of Little League's rules by failing to hold annual meetings to vote...

    Bruce’s Answer

    Contact the State Attorney General. You can also talk to a corporate lawyer or a tax attorney.

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  • I am homeless and suffering from mental illnesses. My tax refund was seized for the mother of my child. What can I do?

    I am a Homeless man suffering from mental illnesses and I recently filed income tax online using turbo tax. Unfortunately the money that I had planned on using to start a new life was seized by the mother of my child. I have, in the past attempted...

    Bruce’s Answer

    It sounds like you have a support obligation and that is the reason your refund is being seized. Since you cannot afford a lawyer I suggest you talk to the Lee County Legal Aid Society at 239-334-6118. Best wishes.

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  • Can I sue them for damages? they messed up and are still charging me $675 for taxes I wont get back until I fix them myself.

    I went to file my income tax return at a Jackson Hewitt location and the staff was rude and unprofessional. I got hit in the head with a file that another employee threw at the guy doing my taxes. I didn't really get hurt just stunned. The guy wh...

    Bruce’s Answer

    Have your taxes prepared by a different firm. Then sue Jackson Hewitt in Small Claims Court for the $675.

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  • Can Ex's Mother Claim Our Children?

    I am divorced. We have 50/50 custody although she is technically considered custodial parent. She does not work and I pay 1500/mo in child support. Per our divorce decree, I claim 1 child 1 year, and 2 the following. (she claims 2 then 1 the follo...

    Bruce’s Answer

    The divorce decree controls. If she is allowing her mom to claim that to which she is entitled, you probably do not have a basis for complaining. However, if you want to try, then go back to the family law court and make your case.

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  • What kind of lawyer would I need to rectify this situation and who do I go after to get my money back?

    I recently filed my taxes with a preparer that I have used for years. Until now I haven't had any problems. My husband and I have been separated for over a year and a half with two minor children living with him. He can't file because he collects ...

    Bruce’s Answer

    Ms. O'Connell has given you good advice. You need a new preparer, an attorney to collect the damages you have incurred, and you should report the situation to the police or district attorney.

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  • Do we have to close our Texas LLC and open another in OK?

    We have an LLC that we started in Texas. I am the registered agent. However, life circumstances saw us moving back to Oklahoma late last year. We have not gotten the store open yet now that we've moved, and hadn't quite got there in Texas. Do ...

    Bruce’s Answer

    No. You do not have to close the LLC in Texas and open a new one. You could get the Texas LLC qualified to do business in Oklahoma. However, it may be easier in the long run to close the Texas LLC and open one in Oklahoma. For help with that analysis talk to a competent CPA or tax lawyer in Texas or Oklahoma.

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