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26. 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
27. 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
28. 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
29. I inherited a home from my great aunt and sold it 4 months later at a loss. Can I deduct the loss?Free
30. I inherited an IRA from my sister. I’m 85 years old; she was 75 years old when she died. How do I figure required minimum distributions? Free
31. Can I claim my 26-year old son as a dependent on my tax return? He lives with me because he can’t afford his own place. I pay for the residence, food, etc. He earns $8.45/hour for a 30-hour week and pays for his own car and personal expenses. Free
32. I just purchased an SUV. I don’t have a business. Can I claim any tax breaks for this purchase?Free
33. Ten years ago, I received stock from my employer as a bonus. I paid tax on the value of the stock at that time. I sold the shares in 2008. What is my basis for purposes of determining gain or loss on the sale?Free
34. I’m a sole proprietor. In 2008 I discovered an embezzlement in my business going back several years. Do I have to amend prior year returns to take the loss?Free
35. To reduce my income for purposes of financial aid for my child, I’d like to contribute to a deductible IRA for 2008 by the April 15, 2009 filing deadline. My husband contributes to a 401(k) plan; I could have contributed to a 401(k) plan at my Free
36. I'm paying my 2007 income taxes under an installment agreement with the IRS. I'm anticipating a tax refund for 2008. Do I get this money?Free
37. I owed a tax penalty for 2006 that I paid in 2008. Can I include this as part of my itemized tax deduction?Free
38. I am 50 years old and have been unemployed for some time. Can I take money from my IRA without a penalty?Free
39. I will be 70½ this year and am still working and contributing to a 403(b) plan. Can I wait until I retire to start taking minimum distributions?Free
40. I plan to make some energy improvements to my home. What type of expenses qualifies and how much of a tax break do I get?Free
41. I bought my first home on January 16, 2009. How much of a tax credit can I claim?Free
42. I understand that as a single person, I’m getting a $400 tax credit. How soon can I expect to receive it?Free
43. My home was destroyed in a federally declared disaster area in 2008. The insurance didn't fully compensate me for my loss. Can I deduct the rest of my loss?Free
44. I am a self-employed contractor. In an effort to remain competitive, I've had to cut my price for a job from the normal fee of $1,800 to $1,500. Is this a deductible business loss? Free
45. I have a loss in my Roth IRA. Can I deduct it?Free
46. My child is a college student. How much does she have to earn before she’s required to file a tax return?Free
47. I received a $15,000 inheritance from my mother's estate. Am I taxed on this?Free
48. 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
49. I'm 72 and still working. I forgot to take a required minimum distribution from my IRA for 2008. Am I subject to penalty?Free
50. 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