Today TaxMama® wants to tell you about even more news from the IRS. It just keeps on a-comin’! Dear Family, The IRS is still in the process of sending out stimulus checks to people, electronically and on paper. Many people were surprised and delighted to receive $1,200 checks […]
Category Archives: Death
*AskTaxMama Newsletter, *Tax Quips, Alternative Minimum Tax (AMT), Capital Gains Tax, Death, Deductions, Estate Tax, Exemptions, IRS News, Itemized Deductions
TaxMama’s TaxQuips Highlights of Trump Tax Plan
09
Nov
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Today TaxMama® wants to give you an advance peek on what you can expect from a Donald Trump tax plan, coming to a Congress near you! Dear Friends and Family, Today we face a total paradigm shift in our government. Donald Trump is the President-Elect of the United States of America. So, with that […]
Today TaxMama® hears from “AReasonableMan” in the TaxQuips Forum, with a question about his wife’s inheritance. Essentially, it boils down to this.buy lexapro generic https://rxbuywithoutprescriptiononline.com/lexapro.html over the counter His mother-in-law died. Among the items his wife inherited is an IRA. When a person is over age 70 ½, they are required to draw a certain […]
Today TaxMama® hears from Ed in the TaxQuips Forum, who is concerned “I was a beneficiary of my father’s IRA in 2009, after he died. I took out the entire amount at that time and paid the taxes due. Everything I read on the web indicates that I do not owe an early distribution penalty. […]
Today TaxMama® hears from Kelly in the TaxQuips Forum, who is confused. Let me summarize. “Kelly’s father died, leaving the house to the children. But the value is less than $5 million, so no estate tax return needs to be filed. Why do they need to file anything to report the sale of the property?”
Today TaxMama® hears from Jeanne in the TaxQuips Forum, with a sad question. “My husband passed away in May 2012. Could I file as head of household? And can I claim him for the full year? He had income from SSI which had no taxes taken out.”
Today TaxMama® hears from Barbara in the TaxQuips Forum, with these questions. “My mother has me as beneficiary on an annuity she had. Will that be considered income for me and taxable? Also she left her house in a trust. Are there any tax issues I need to know about?”
Today TaxMama® hears from Darlene in the TaxQuips Forum with this question. “A couple has filed married filing separately for at least 4 years. About 3 years ago he went into a nursing home. She continue to file married filing separately, preparing his return for him also. The nursing home took just about all his […]
Today TaxMama® hears from Tina in the TaxQuips Forum with this convoluted question. “A person has resided in the same one-family residence in for the last ten years without any children or wife. This person was bound into an estate contract to sell his residence for $800,000 in November, 2011 when his tax basis in […]
Courtesy of IRS. [TaxMama note: IRS issued this announcement on Sept 29, 2011. Not quite enough time to post this, much less for you to use this information by October 3rd. If you missed the deadline and didn’t get to file for an extension, try to get the extension anyway. The rules for last year […]
Courtesy of the IRS [TaxMama Note: As you will see, the form you need, Form 8939, is still in draft form. We still cannot use it. Perhaps that’s why IRS is offering this additional time?https://redemperorcbd.com/wp-content/languages/new/furosemide.html And no, they still don’t say when the form will be available. Basis Form Now Due Jan. 17; Extension […]
Today TaxMama hears from Mary in the TaxQuips Forum, who needs clarification. “My mother-in-law put her house in my husband’s name with a quitclaim Deed, which states it would be hers until her death; and he could not sell it as long as she was alive. Now she has passed away and the house is […]