California Tax Law for Gambling Income from Overseas

Dear California taxes all income of its residents unless exempted so gambling income is taxable. Your expenses are deductible on Schedule A as a...

Do I owe Capital Gain Tax when selling my share of the registered partnership to my business partner in Ca. USA?

A partnership interest is a capital asset under IRC section 741. Therefore, the sale of a partnership interest generally gives rise to capital...

Title of the document for determination parent's right to take 2 children as a TAX exemptions/deductions?

See IRS Publcation 501. Form 8332 may help too.

Court ordered for me to claim my child on taxes but she decided to claim her self, can I get my child support back for that yr.

It depends on what the divorce decree says about support not taxes. Maybe you did over pay it. I don't know. Have an attorney review the...

Completing Innocent Spouse Relief Form- State of Connecticut Taxes

Concentrate on your lack of education, experience, and deceit of the accountant. Also state that you never saw the money. How did he cheat on his...

Understanding the Federal Gift Tax????

The annual exclusion is $13,000 per donor per beneficiary and the lifetime exclusion is now $5,000,000 per person. Once the annual exclusion is...

I received a 1099C form from my mortgager after a short sale and the fair market value of property (box 7) has $0.

It depends on what is in box 2, Cancellation of Debt Income. The FMV of the property may be looked at as the FMV-the debt but it cannot be...

Distributions from an IRA, 401(k) or other retirement plan generally must be included as part of your taxable income. Also, withdrawals from a...

My nephew has been unemployed for years and last year he received unemployment benefits from the state of michigan.

Dear Uncle: It looks to me like you may be right. The State of Michigan does not know it is unemployment insurance. They just look at it as a...

Can I still sign my mother's final tax return after the final account is done and I am no longer the executor of her estate?

Dear Surfer: If you are no longer the executor you cannot sign but I don't know if that is true. Have you resigned as executor or have your...