Real tax questions from real readers, answered. Got a question of your own? This is where Taxgirl answers them.
Taxpayer asks: Thank you for an interesting blog. The dictionary defines tolls as taxes. Are they deductible like property taxes, or only for business purposes? Taxgirl says: What a really interesting question! I did a little bit of research and tolls seem to be treated by the IRS as user fees and therefore, not deductible…
This has been the busiest tax season that I can remember. The phone has not stopped ringing, the emails have not stopped coming and I have been speaking and interviewing nonstop. At this point, I think even I am sick of myself. Fortunately, tax season proper comes just once a year and there’s just a…
Taxpayer asks: I am retired and my wife and I support a son in college. We send him $2000/mo for room and board and I spend another $900/month paying off his Sallie Mae student loans. Is any of this deductible? If so, where do I declare it on my tax form. I generally use an…
Taxpayer asks: I can’t claim the making work pay tax credit. Do I need to file schedule M anyway? Taxgirl says: Nope. If you’re sure that you don’t qualify, then no need to complete the Schedule M. Just be really sure – you don’t want to leave money on the table!
Taxpayer asks: If I received $500 or say $5,000 in anonymous donations for brain surgery because I have no insurance, do I need to report that anywhere or as income? thank you for any help tax girl. Taxgirl says: So long as these are pure gifts – and you didn’t make any representations as to…
Taxpayer asks: I’m helping my daughter do her CT taxes. Last year she got a CT refund. If I’m reading the federal form correctly, it looks like she has to declare the state refund as federal income in 2009. Is that correct? Isn’t that double taxing? If that is correct, is there a way around…
Taxpayer asks: My mom and I have a joint IRA. She is 73 years old and I am 45 years old. How do we figure out how much of it is taxable to each of us? Taxgirl says: Er, um. You can’t. There isn’t any such thing as a joint IRA. I think you need…
Taxpayer asks: Last year, I cashed in my IRA to pay off some doctor bills. I lost my job and couldn’t pay but I did have my IRA so I used that to pay. I used the whole thing. Last month, I got a 1099 that says that it is all taxable. Please help because…
Taxpayer asks: Hi There, I am totally confused as to how we should file our taxes. By December 31st 2009 my husband and I had paperwork in the court in California that specifically states we are separated, a division of property and finances and an order for him to pay alimony. We have never lived…
Taxpayer asks: Hi, I read your blog entry that explains that service time donated to a charity is not deductible. What if there is an actual assignable value of the service time to the charity? For example, I am donating my services as an auction item for a charity auction; if somebody buys it for…