Archived
Can real property of a deceased person be deeded to another party when there is no probate, no will and the heir is in agreement
Donna's answer
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Answered on July 15, 2018
She can get a copy of the deed from the County Assessor's or Recorder's office. It's not clear to me whether he gave her the house or left it to...
Archived
If I amend a tax return that I am late paying, and it reduces the tax I owe for that tax year, will the penalties be reduced?
Donna's answer
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Answered on July 09, 2018
Just to clarify: You did NOT file an 83(b) election, but you DID claim the value of restricted stock at time of grant on your 2014 tax return. ...
Will I or my parents need to pay any taxes on a gift of 300k given to me by them after a house sale?
Donna's answer
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Answered on July 03, 2018
I agree with Mr. Zagara. Your parents can give away a lot more than $300K before they will ever have to pay federal gift tax, and Oregon does not...
Archived
My mom passed away last yr and we sold her house in 2018. Do we need to pay taxes on the money that we receive?
Donna's answer
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Answered on April 08, 2018
I'm sorry for your loss. The answer to your question is that it depends. Your basis in the house is the fair market value at your mother's death....
Archived
90 day end of tendancy
Donna's answer
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Answered on January 02, 2018
I'm listing this as a landlord & tenant case to see what those folks have to say.
Are Traditional and/or Roth IRAs included in an estate for Oregon inheritance taxes?
Donna's answer
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Answered on January 02, 2018
I'm curious to know why you think IRAs are not included in the federal gross estate. IRAs, and pretty much anything with a beneficiary...
Archived
If my Dad gives me a gift of 9 grand to put down on a house will I have to pay it back at tax season and do I pay a gift tax?
Donna's answer
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Answered on September 04, 2017
Let's consider the INCOME tax consequences first. If your father GIVES you the money as a gift, you do not have taxable income. If you pay it...
Archived
Will a codicil be ok to use if I want to make an adjustment to my will?
Donna's answer
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Answered on August 30, 2017
One more point about new will vs. codicil -- the requirements for signing and witnesses are exactly the same, and the drafting task is about the...
Suicide note with detailed instructions and a will
Donna's answer
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Answered on August 30, 2017
I agree with Ms. Shah. In Pennsylvania the requirements are that a will is in writing and signed by the testator. It does not need witnesses...
Archived
What would happen if my grandparents die before creating a will saying I should receive their property?
Donna's answer
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Answered on August 25, 2017
When the first grandparent dies, the other will inherit (or possibly already own) everything. When that grandparent dies without a will, and your...
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