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The tax experts at J.K. Lasser have answered a lot of your tax preparation questions, ranging from 1040 filing, income tax deductions and credits, self-employment taxes to tax planning for college and retirement, estate and real estate taxes. Ask J.K. a question by filling out the form below. Or browse Ask J.K. answers or use the Search box to see if J.K. has already answered your question.Browse J.K.'s Answers by Category
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- Is Supplemental Security Income (SSI) received by a disabled person taxable?Free
- My daughter goes to a university and, as part of her course work, has to do clinical work at a local hospital. If we buy her a car, can we treat it as a qualified educational expense for purposes of the American Opportunity credit?Free
- I volunteer to help seniors with their chores. I sometimes take them out to eat and always use my own car. Can I deduct anything?Free
- In 2007, I moved from New Hampshire to Delaware because of a new job but forgot to deduct moving costs on my 2007 return. Is it too late to claim these moving expenses now?Free
- My wife and I tried to adopt a foreign child. The adoption fell through. Do we qualify for the adoption credit?Free
- I own rental property. I do all the repairs myself. Can I deduct my work? (If I didn't do it, I'd have to hire someone who would.)Free
- I bought a principal residence in 2001 and relocated in December 2005 because of a job change. Instead of selling, I rented it out. I continue to own this residence. If I buy a new home, can I qualify as a first-time homebuyer?Free
- I'm 72 years old. Is the tax break for transferring IRAs to charity available this year?Free
- I donated used clothing and household items to the Salvation Army. What documentation do I need to claim a charitable contribution deduction?Free
- Am I taxed on a payment from my elderly mother to handle her financial affairs?Free
- How do I deduct the interest (investment interest, passive activity interest, business interest) on a loan I took from my S corporation?Free
- When my father died in February 2009, I inherited his home and assumed the mortgage. I have never owned a home before. Can I take the first-time homebuyer credit?Free
- I own a beachfront condo that I rent out throughout the year (I never use it myself). Can I claim first-year expensing (Section 179 deduction) and/or bonus depreciation for new appliances I’ve bought the unit in 2009?Free
- I’m on a filing extension for my 2008 return. I’ve purchased J.K. Lasser’s Your Income Tax and tax preparation software. Can I deduct these costs?Free
- I have investment losses in my traditional IRA. Can I take a deduction for the losses on the investments I’ve sold in the IRA?Free
- I'm purchasing a two-family home in September. I have never owned a home before. Can I qualify for the first-time homebuyer credit?Free
- I received a legal settlement from a neighbor who cut down my trees. Is this money taxable to me?Free
- I'm renting a home now but will be purchasing land on which to build a home. Can I deduct the interest on the land mortgage?Free
- I have a camper that we use as a vacation home. Can I claim any tax deductions for it?Free
- I was laid off from my company last year. I was under 55 years old on my last day of work, but was 56 when I took a total distribution from the company's qualified retirement plan. Am I subject to the 10% early distribution penalty?Free
- I cashed in some savings bonds and received $500 interest. Do I have to report it?Free
- I was supposed to receive a considerable inheritance from my friend who died, but there was a problem with his will. After suing, I received a settlement from his estate. Is this taxable?Free
- My husband and I owned an S corporation to which we each had loaned money. The corporation went out of business. Can we deduct the loans?Free
- My husband and I rent a home we own to my brother and his wife. If we sell the home to them at market value, can they claim the first-time homebuyer credit?Free
- I inherited a home from my great aunt and sold it 4 months later at a loss. Can I deduct the loss?Free

