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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.
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1040 Essentials

  1. I have an "in trust for" savings account at a bank for my children. If I withdraw money from it, are there any tax consequences?Free
  2. My husband died in 2008, and now the IRS wants me to pay back taxes related to his gambling. I knew nothing about his gambling activities. Am I legally liable for his debt?Free
  3. I filed my 2009 return and had my refund applied to my 2010 estimated taxes. Now I need some of the money. Can I file an amended return, Form 1040X, to have only part of the refund applied to 2010 estimated taxes?Free
  4. 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
  5. My child is a college student. How much does she have to earn before she’s required to file a tax return?Free
  6. Can I file a joint return with my spouse. I've been separated from her since August when she left me; we're in the process of getting a no-fault divorce.Free
  7. I own shares in a stock mutual fund that declined in value this year by nearly 50%. I received a Form 1099-DIV reporting a capital gain distribution. How can this be?Free
  8. I contributed $15,000 to a 529 savings plan several years ago for my child's education. He starts college in February 2009 and the account currently is worth only $13,000. When the funds are withdrawn to pay his tuition, can I take a tax loss?Free
  9. My mother-in-law is 94 years old and receives income from pensions, CDs, and money market accounts as well as Social Security benefits. Does she need to still file a return at her age?Free
  10. My husband and I gave our son-in-law a car worth $24,000. Can we deduct this gift?Free
  11. I have a domestic partner who lives with me. I pay more than half of her expenses for the year, including all of her food and shelter. Can I claim her as a dependent?Free
  12. Can a person work for a company and also be an independent contractor for the same company?Free
  13. I own rental real estate and paid a plumber to fix a leaky water heater. It couldn’t be repaired and had to be replaced. How do I treat the cost of the new tank and the labor charge?Free
  14. Is the rebate check (called a "stimulus payment") that we receive in May under the Economic Stimulus Act taxable income to us? Do we have to report it on our 2008 income tax return?Free
  15. Can I claim my son as a dependent if his aunt pays his tuition?Free
  16. We will not be able to pay all that we owe up front. What can we do?Free
  17. If couple file separately and husband itemizes his deductions, what happens to spouse?Free
  18. Is it better for my husband and I — recently married — to file jointly or separately?Free
  19. If my divorce was finalized in November, can I still file jointly for the year?Free
  20. Can I file as head of household if I am the noncustodial parent?Free
  21. Will my domestic partner qualify as my dependent for tax purposes?Free
  22. Big tax refund — good or bad?Free
  23. What questions should I ask when looking for a new tax accountant?Free