Q&A
Asked by Nettrickr
Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Nettrickr A 1031 exchange is designed to defer taxes. Check with your property attorney for specifics in your situation. The exchange can include like-kind p...
Q&A
Asked by Tstepsr67
Answered by Jeffrey Schneider
Tax Professional
An in-law can be a dependent like any other relative. They would be called a qualified relative. The main criteria is that you provide more than half their support and...
Q&A
Asked by rlaughlin
Answered by Stephen Hartel
MBA, AIF in Denver, CO
There have been a few times when a tax law was enacted retroactively, but almost always such laws are forward looking. Changes this year to tax laws would almost certa...
Q&A
Asked by rleeedens
Answered by MoneyTips Writing Staff
Financial Adviser in Los Angeles, CA
This article may help you determine the answer you need: https://www.moneytips.com/are-my-social-securi ty-benefits-taxable
Q&A
Asked by an anonymous user
Answered by Danielle Kunkle
Vice President
Yes your Medicare insurance premiums can be included as part of the medical expense deduction, but just remember your eligibility depends on earnings and spending. You...
Q&A
Asked by an anonymous user
Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Anonymously. Can you elaborate on "no shares involved" and why "taxes were paid on the amount"? With a stock split (also reverse split) itself, taxes are genera...
Q&A
Asked by scottytheone1973
Q&A
Asked by listlej
Answered by Jeffrey Schneider
Tax Professional
The down payment is not a deduction, same for any business asset. However, the cost of the asset multiplied by the business usage. However, if you do not use the car ...
Q&A
Asked by an anonymous user
Answered by David Skow
Mortgage Professional in Seattle , WA
As long as the HELOC is in the first mortgage position you should be able to write off the interest, but double check with a CPA or accountant for your specific situat...
Q&A
Asked by cavener
Answered by Jeffrey Schneider
Tax Professional
Your age is not relevant. you may deduct gambling losses only if you itemize your deductions on Form 1040, Schedule A and kept a record of your winnings and losses. Th...
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