Archived
Does "interest in a pension plan" refer to the total value of a pension plan or only the interest earned on the pension plan?
Henry's answer
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Answered on March 14, 2011
Interest "in" a pension plan refers to your vested interest in the plan.
Any individual seeking legal advice for their own situation should...
Archived
Relative visited during summer (stayed 3 months in the country) & I paid for her hospitalization, can I claim on my taxes?
Henry's answer
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Answered on March 14, 2011
No, you do not meet the qualifications based on your facts.
Any individual seeking legal advice for their own situation should retain their own...
Archived
Who determines Non Custodial Parent, DCSS or Court Order for eligibility of tax exemptions?
Henry's answer
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Answered on March 14, 2011
In your situation you must go to the IRS tie breaker rules:
If the child lives with each parent for the same amount of time during the tax year,...
Archived
About IRA: my husband passed away10/12/2009, he left an IRA with $75,000, i don't want to withdraw the whole amt 'coz of taxes,
Henry's answer
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Answered on March 14, 2011
It is possible that you meet the exception for higher education expenses to eliminate the 10 percent penalty. If you are also over 59 1/2 you may...
Archived
Which NOL's belong to me to use for my taxes, and which belong to the trustee of the estate?
Henry's answer
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Answered on March 14, 2011
This can be a tricky issue. The right to a tax refund based on pre-petition earnings or losses, but not payable until after the petition is filed...
Archived
Tax debt
Henry's answer
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Answered on March 14, 2011
I am glad you found this site, but you are in the wrong section for your issues. You are asking questions regarding tax laws in countries other...
Archived
Is the value of a pension considered an asset if I did not contribute to the Pension Plan (for IRS Insolvency purposes)
Henry's answer
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Answered on March 14, 2011
Yes, if you are vested in the plan.
Any individual seeking legal advice for their own situation should retain their own legal counsel as this...
Is the "Interest on IRA/" IRS solvency worksheet based on the total value of IRA/401K or the interest earned on value of IRA/401
Henry's answer
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Answered on March 14, 2011
You report the total value of the asset or the $550K.
Any individual seeking legal advice for their own situation should retain their own legal...
Archived
Should I file 1041s for an estate even though my sister says she is going to file half of the estate on her personal return?
Henry's answer
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Answered on March 13, 2011
You should file the tax returns that are required. If the estate paid the expenses and collected the income, then the 1041 should be filed....
Archived
Can I pay back an income tax return after cashing it?
Henry's answer
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Answered on March 13, 2011
The check needs to go to the trustee. Do not cash it if you have not already done so. You risk your discharge by doing so. If you have already...
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