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Asked by Birdyt052
Answered by Paul Carson, Loan Officer in Conshohocken, PA
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Asked by vickicastro75
Answered by David Meyers, Financial Adviser in Palo Alto, CA
The IRS will not directly take your state refund - your state won't send the money to the IRS. The state will send you a check (or make a direct deposit). The IRS wi...
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Asked by patriciapotpie
Answered by Steffanie Staples, Insurance Agent in South Jordan, UT
Expense amounts greater than 7.5% of AGI
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Asked by Lee Muth
Answered by Dave Bradley, Investment Manager (Financial Advisor) in North Charleston, SC
Hi Lee, Refinancing your home to get the tax exemption instead of just selling it for a higher profit may not give you more profit. Why not just sell it for a lower...
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Asked by Dave
Answered by Dave Bradley, Investment Manager (Financial Advisor) in North Charleston, SC
Hi Dave, Check with your tax advisor for specifics in your situation. There are exceptions for Real Estate professionals and special rental loss offsets for landlor...
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Asked by ktrentham54
Answered by Dave Bradley, Investment Manager (Financial Advisor) in North Charleston, SC
Hi, This can be a problem for both parents. Rather than tell you which of you is eligible, there is a process: Do you have the signed IRS form 8332? Bring this to ...
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Asked by Kelvin
Answered by Dave Bradley, Investment Manager (Financial Advisor) in North Charleston, SC
Hi Kelvin, By deferring until next year, will this lower your tax liability or raise it? Ask your Accountant (preferably a competent CPA) and tax advisor. Also, wi...
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Asked by an anonymous user
Answered by Dave Bradley, Investment Manager (Financial Advisor) in North Charleston, SC
Hi Anonymously, Are you a real estate professional? Also discuss this with your tax advisor. You may deduct your suspended passive losses from the profit you ea...
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