Question about real estate for a IRS TAX LAWYER. I am selling my home for $6,000 less than I paid for a year ago.

If you sell it for less than you paid for it, you have no gain and thus do not have any income to report to the IRS or FTB related to this sale...

We bought a home for $163k in June of 2017. Selling for $157k about a year later. Will I have to pay capital gains taxes?

No; you will not have to pay capital gains tax as you are selling the home for less than you paid for it. As for your other question or point of...

An individual may exclude from gross income up to $250K of gain ($500K for joint return filers and surviving spouses) realized on the sale or...

Do I need to pay inheritance tax on my Mother's home that I am selling that is in her trust?

Typically, you are correct that when you inherit a home from a parent, you get a step up in basis to the value of the home on her date of death. If...

Do I file the income on my taxes even if I don’t get a W-2?

You must declare all income from whatever sources generally speaking. If you did not get a W-2 or 1099-MiSC, show it as "Other income" on your...

The IRS requested that I file an amended tax return for 2016. They did not give an explanation why. Can they do that?

This is very unusual. Contact a tax attorney and send that attorney a copy of the notice you received along with a copy of your tax return. ...

Why does my ex husband need my ssn for taxes if we are legally divorced?

There is no requirement that you give it to him; and, I cannot think of any reason that he might need it. Having said that, if you are filing...

How can I get an extension to pay my tax, the original tax not the tax return?

Simply fill out form 4868 which can be found at https://www.irs.gov/pub/irs-pdf/f4868.pdf and mail it in on or before April 17, 2018. You need to...

California Income Taxes

In other words, the 1099 income is reflected as "other income" on your Federal return; and, when you fill out your CA Form 540, you are required to...

Applying for a tax filing extension? Penalties?

You actually have until April 17, 2018 to file for your extension due to the fact that the 15th falls on Sunday and Monday is Emancipation Day, a...