Whenever a taxpayer begins receiving social security benefits, a portion of that income is taxed if income received in addition to social security is above a "b...
A wash sale occurs whenever an investor sells a security at a loss and repurchases it again within a 61 day window (30 daysbeforethe sale and 30 daysafterthe sa...
Most closing costs are additions to basis. For example, your realtor fees, title fees, survey, etc. are considered to be additions to basis. The exception is go...
Hi RA2022,Thank you for joining us.There is a lot to unpack here, so I will try to cover everything.First off, yes you are correct in that you must take depreci...
Hi Ro65,Thank you for joining us today.In order to claim the Child Tax Credit, you must have a qualifying child for tax purposes. A qualifying child must meet t...
