Category Archives: Tax Returns

Separate Funds

Today TaxMama hears from Ruth in Oregon who tells us, “I’m a divorced mother.  I think about remarriage, but I don’t think I’ll ever trust anyone 100% again.  Here’s my question.  I think I’d be brave enough to try it again, IF I could put a nest egg (say $30,000) somewhere just in case things […]

Defaulted Student Loan

Today TaxMama hears from Margaret. “My daughter’s boyfriend, with whom she lives, filed his tax return claiming my daughter and their child for the sake of the EIC. He expected to receive approximately $2000 back as a refund. Instead he received a notice from IRS that not only was he not getting his refund, but […]

eBay Cleans Out Closet

Today Melissa from Dallas, TX asks. “I sold a bunch of old stuff on eBay this year – an old trumpet, music and concert memorabilia, old clothes. Just cleaning out our closets, but I was amazed at how much we’ve made so far! Do we have to pay taxes on this income? I’ve heard different […]

Daughter’s Security

Today Steve in Appleton, WI has a question. “My wife passed away in last year. My daughter, age 16, qualified for social security benefits of $621 a month. The check comes to me, as her father. I use it to help us make ends meet. I also save some money towards her college education. Is […]

Closing Costs

Today Gene from Centennial, CO wants to know “I am in the process of purchasing a second home for the purpose of renting it. Are closing costs deductible on next years tax filing?”

S-Corp Silliness

Today Robert from Sparta, NJ is upset. “I paid a filing company to register an S-corp for me back in 1997. I filed returns back in 97 & 98 and just got a letter from NJ claiming that since I am a C corporation, I owe them $7,000 for 1997. I have since learned that […]

Die Now File Later?

Today Richard from Phoenix, AZ wants to know. “If someone dies, can the tax returns for the year in which they died be filed prior to the end of that year? Or do you have to wait till all of their tax forms for the year in which they died are received?”

No Extension

Today Robyn from Atlanta, GA goofed. She asks, “What happens if you do not file an extension and you are late sending you taxes in? What percentage are you charged?”

Not Born in the USA

Today Mike from Australia has a dilemma – I am a dual US / Australian citizen (Had US parents who immigrated to Australia prior to my birth) who has lived and worked in Australia his entire life. Recently, an opportunity has arisen whereby I’ll be able to live and work in the US for a […]

The Year That Husband Dies

Today Patty from Haslett, Michigan has this tale of woe “I was married February 14, 2004, Valentine’s Day. My husband died April 16, 2004. He was on Medicaid and had no income. Do I need to file a tax return for him?

Filing Status

Today, Yvonne from Illinois hopes we can help her “I filed for a divorce in March of 2004. We live in separate homes and separate counties. Can I file for head of household, knowing he will also file for head of household. The divorce is not final yet.