Loss on the Sale of an Inherited Home
A beneficiary who inherits the residence of a decedent generally acquires it with a basis equal to the fair market value at the decedent’...
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The Tax Professionals Blog · 446 articles
How Married People Filing Separately Can Qualify for the Premium Tax Credit
Generally, a married taxpayer filing separately (MFS) who does not qualify as a victim of domestic abuse or spousal abandonment cannot ta...
Read moreWill Taxing Olympic Gold Soon be Coming to an End?
Most people don’t realize this, but in addition to receiving a medal, winning U.S. Olympic athletes are compensated by the U.S. Olympic C...
Read moreRetirement and Qualified Longevity Annuities
IRS Regulations finalized in 2014 provide some relief for individuals who want to stretch out their retirement funds by generally allow...
Read moreConverting a Home to a Rental
It is not uncommon to have a client convert a personal residence to a rental property. Some even think if they convert to rental use a h...
Read moreCaregiver Tax Advice
When a taxpayer is helping to support both parents and is having difficulty showing that he or she provided over half of the support for ...
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