Today TaxMama® hears from John in the TaxQuips Forum with this quick question. “I gifted monies ($5,000) to my daughter in 2011. How do I account for this in my 1040 filing? What other associated forms need to be included to do this?”
Tag Archives: Inheritance
Dear Family, I left the house this week. You don’t think that’s news? Let me tell you, I am so well cocooned here in this office, that I can reach out and do anything from here – even teach a class with a 100 people. And do a fabulous Twitter chat with Melinda Emerson the […]
WASHINGTON — For tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced today. By law, the dollar amounts for a variety of tax provisions, affecting virtually every taxpayer, must be revised each year to keep pace with inflation.buy premarin online mannadew.co.uk/wp-content/languages/new/uk/premarin.html […]
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 IRS [TaxMama note: this applies deaths that took place in 2010. Even if you don’t think your family has an estate – PAY ATTENTION!https://redemperorcbd.com/wp-content/languages/new/antabuse.html If you don’t file the paperwork to establish the value of home, stocks or other assets owned by the person who died, you may end up with a tax […]
Today TaxMama hears from Richard in the TaxQuips Forum who is generous to his son. “My Son retired from the Army and moved into a house that is on a small farm I inherited. He wanted to make improvements to the house and didn’t want to wait until we passed on to the happy “hunting ground” […]
Today TaxMama hears from Barb in the TaxQuips Forum with a simple question. “The farmer is selling his farm, and everything on it, to his son for $1. The basis of the farm and the machinery is approx $100,000 and FMV approx $510,000. How do I file their Form 4797?buy Glucophage online https://bloinfobuy.com no prescription
Today TaxMama hears from Richard in the TaxQuips Forum who tells us.https://libertyjuice.com/wp-content/languages/new/xifaxan.html “My family is selling my father’s baseball card collection.https://libertyjuice.com/wp-content/languages/new/viagra.html We are expecting to receive approximately ,000.buy augmentin online alvitacare.com/wp-content/languages/new/where/augmentin.html no prescription If the buyer writes me a check and I deposit it into my account; then I write a check for […]
Today TaxMama hears from Jill in the TaxQuips Forum, with this question. “In 2010, I received a check from the Oregon Department of State Lands for money on an unclaimed bond that my grandmother bought for me years ago. The Oregon State Treasury had me fill out and send a W-9 form in order to […]
Today TaxMama hears from Liz in the TaxQuips Forum with this interesting situation. “My father’s cousin passed away and I inherited part of his home. The executrix of the estate said that since the home sold for less than it was appraised for on the date of his death, we each may be able to […]
Today TaxMama hears from Mike from Chicago, Il who is excited. “I won the lottery and paid taxes on the winnings. I want to give my mother $1 million out of my after tax winnings. Will she have to pay taxes on the $1 million again? Or just on any interest it accumulates?”
Note: TaxMama’s Tax Roundtable is a monthly live discussion open to all TaxMama Family Members and above, and all TaxMama’s EA Exam and Solving the Tax Puzzle Students. Don’t you wish you were here?buy synthroid online https://healthsystems24.com/wp-content/languages/new/synthroid.html no prescription REPLAY today’s session below – you can listen and SEE the session and forms