Son inherits jewelry from dad. No will. Son sells jewelry. IRS audits him. How does he establish cost

Because it was inherited, son’s basis would be the property’s fair market value at the decedent’s death. The information presented herein is for...

If daughter sells the home today what is her cost basis.

Because it was gifted to daughter, her basis would be the parents’ basis. The information presented herein is for general purposes only. It is not...

I want to hire a Tax Attorney to Expose Income Tax Fraud from 2006 regarding Home Capital Gain Exemptions.

You do not need a tax attorney to expose the individual to the IRS investigation. Anyone may be able to do that by calling the IRS and asking for...

Can I legally make my ex amend the taxes to include me on it?

Sorry about the trouble. In addition the answer my colleague provided, your statements raise many questions. Since you are paying $30K in alimony...

When I receive money that is Tax free and use it to buy storages and resale the contents, Am I liable to pay taxes?

Make sure that your settlement is free based on IRC 104 (a)(2), because it is a complicated rule of law. Most trial attorneys are unfamiliar...

Do I need to pay California taxes for the money I earned (under 300$), even if I was not a resident then?

Based on $300 annual California income, no need to file a California tax return, because it is below the threshold.

Need legal advice on working as Independent Contractor on OPT. Please let me know if any attorney can answer in detail.Thanks

My colleague has provided a good advice. Attorneys are not allowed to respond to you affirmatively on Avvo. You may select one, or call the local...

Is there someone knowledgeable of these matters willing to speak with me about my options? I have no idea what to do.

Attorneys are not allowed to respond to you affirmatively on Avvo. You may select one, or call the local Bar Association for a referral. The...

Is the form 2555EZ in filling the taxes affect the immigration status

Because your facts are unclear, I will only speculate. For a green card holder to be eligible (not live in the US more than 35 days a year) for...

Generally, when a grantor of a revocable trust dies, the trust becomes irrevocable and the trustee will distribute the assets according to the...