Q&A
Asked by an anonymous user
If you are talking about Federal estate taxes, depends on the value of the estate. If the estate happened in 2017, the estate gets a $5.49 million exclusion or 100% if...
Q&A
Asked by bgggirl
Answered by Michael Karu, CPA/CFF/CGMA in Livingston, NJ
The short answer is no. However, if you receive interest on the proceeds, the interest is taxable.
Q&A
Asked by Lee
You can request a copy of your account transcripts directly online at www.irs.gov or go to an Enrolled Agent or CPA and they can do it for you (and quicker). The trans...
Q&A
Asked by w-lmburris
Yes, this is specified on the 1099.
Q&A
Asked by an anonymous user
Answered by Michael Karu, CPA/CFF/CGMA in Livingston, NJ
When we prepare tax returns for couples, we routinely check to determine whether married filing jointly or separately is more beneficial. The process is to calculate ...
Q&A
Asked by Mary
Answered by Kim Miller, CFP®PRO+ in Redmond, WA
Hi - The annual gift tax exclusion allows you to give $14,000 per year to any one person without filing a gift tax return. A married couple who "join" in the gift ca...
Q&A
Asked by an anonymous user
Answered by Mark Haynie, Mortgage Broker in Los Angeles, CA
Unfortunately, the 547 score is a lower score than any lender will consider. I recommend that you consult with a professional in the credit repair business and develo...
Q&A
Asked by victor piediscalzo
Answered by Tracy Scott Burke, CFP®, ChFC® in Harrisburg, PA
Victor, Thanks for your question. Some type of a tax-deferred retirement account would likely be best in your situation in lieu of bank savings. If you have acces...
Q&A
Asked by Erin
Answered by Prateek Mehrotra, Financial Adviser in Appleton, WI
Erin, Here is a simple way to do this. After you sell your stocks you will know the selling price. Your Capital Gains is equal to the difference between the Selling...
Q&A
Asked by Katie
Answered by Michael Hoffman, RFC, CLU, ChFCPRO+ in Grass Valley, CA
Katie, Conversion from a traditional IRA to a Roth IRA is beneficial when the amount you are converting allows you to stay in the same tax bracket and you have time...
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