Show his as a distribution of property to the partners that received it. The receiving partner will receive a basis in the property equal to that...

How to amend tax returns?

No, once you file your return you must file a form 1040X amended tax return to correct it. You can find the form at www.irs.gov.

My support order was modified effective 8 months ago, can he still claim one kid on taxes if that part is past due?

You must still follow the court order unless you go back to court and get a modification. Otherwise, you could be held in contempt of court.

Can the Secretary of State require that I pay sales or use tax on my car before I transfer it into an irrevocable trust?

Since an irrevocable trust is a separate entity this would be considered a taxable transaction. However, in most states there is an exemption for...

The new car sales tax deduction has been taken twice

Since you know about the problem you should not wait for the IRS to find it. In this situation the taxpayer has the responsibility to amend their...

About Roth 401(k) early withdrawal

The IRS has established specific ordering rules for withdrawals from a Roth account. First, the contributions are withdrawn and then the earnings. ...

We were discharged from chapt 7 personal and business bankruptcy in 2009. 1099-Cs are still coming in for our 2010 taxes.

The entity or person that declares bankruptcy and includes the debt in their petition is allowed to exclude the forgiveness of debt income from...

How do I take my father off of my UTMA account? (Arizona)

Once you are of age you can claim the money. Go to the bank and withdraw the money and open another account without your father on it.

With reverse mortgage on the home. How can my unemployed live-in caregiver / heir qualify to keep the home?

She will need to refinance the property within a year or payoff the loan. Otherwise, the property will have to be sold. She could qualify for her...

My mother died in Nov, I am sole beneficiary and there is a pour over. She has 5 prop in Mex Do I need to get wil translated

The transfer of the property in Mexico will be governed by the laws in Mexico. You should hire an attorney or law firm that is able to handle the...