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Our team of Kiplinger tax experts are available to provide advice about tax preparation and planning, through April 15. They will answer as many unrepeated questions as they can.
Below you'll find questions sent this year to our experts, along with their answers.
Check the topic you are looking for. If you do not see your topic referenced, Ask the Experts and submit your question below.
Investments, IRAs & 401(k)s
Making a 2007 IRA Contribution in 2008
Paying Tax on a Roth IRA Withdrawal
Early 401(k) Withdrawal for New Home: Is It Penalty Free?
Why Can't I Write Off my Investment Loss? Understanding the "Wash Sale" Rule
Taking a Loss on a Small Business Investment
Paying Tax on Savings Bonds
Do I Have to Pay Capital Gains?
Limit on Zero Percent Capital Gains Tax
Real Estate
Tax Rules for Maintenance and Sale of Inherited Property
Deducting a Passive Loss on Rental Property
Allowable Tax Deductions on Multiple Homes
Deducting Interest on a Reverse Mortgage
Energy Credit on a New Home
Determining Your Primary Residence
Schedule A: Deductions
When Can I Deduct Employee Expenses?
Deducting Noncash Donations Valued Over $5,000
Can You Deduct Weekly Donations Made to a Church
Deducting Expenses for Volunteer Trips
Deducting Noncash Contributions
Tax Rules for Personal Use of a Home Office
Freelancer Tax Deductions
Above-the-Line Deductions
Can I Deduct Sales Tax?
Tuition Deduction Rules for Parents
Can I Deduct 529 Contributions?
Tax Filing
Free Online Tax Filing
Neglected to File Last Year's Return
Claiming a Loss on Schedule C
Can Children Take the Standard Deduction?
When to File Separate vs. Joint Tax Returns
Amending Your Filing Status
Amended Tax Returns Get a Second Look
Do I Need to Prepay Tax on a Big Investment Return?
Social Security
Income Tax on Social Security Benefits
Social Security Tax Penalty for Filing Separately
Social Security and Retirement Income
Pension Payouts and Social Security Tax
Alternative Minimum Tax
How Can Charitable Donations Trigger the AMT?
Reducing Capital Gains to Avoid AMT
Tax Rebate
Tax Rebate Rules for College Students and Dependents
FIND MORE ADVICE AT OUR TAX CENTER
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Reader Comments (28)
Posted by: Angela J. at 04/25/2008 06:48:08 PM
Will you get the stimulus check if you ended up owing the IRS ?
Posted by: Donna at 04/27/2008 11:47:39 AM
If I owe the federal government will I still get a tax rebate?
Posted by: Deana Newman at 05/03/2008 05:11:19 PM
If my husband owes back child support will we still get the stimulus check or will that go to back child support also?
Posted by: Bryant at 05/14/2008 02:41:37 PM
If a taxpayer is making payments for taxes from 2006 will the government keep the rebate?
Posted by: cathy at 05/14/2008 05:28:49 PM
It says here that my disabled (she recieves SSDI) child age 19 will not get a check since I claimed her as a dependent...
Posted by: pat at 05/14/2008 07:26:58 PM
Our income tax was ordered to be paid on our Chapter 13. Will we receive the stimulus check or will it go to Chapter 13? Thank you
Posted by: Deb at 05/16/2008 05:27:32 PM
I claim my daughter on my tax return this year. She is 18. She worked in 2007 and filed a tax return and received a partial refund. Is she eligible for the rebate? If not why is it that neither her or I get the rebate?
Posted by: Eduardo Rivera at 05/20/2008 08:58:37 AM
Although we are US citizens, we technically "live" (sleep) in Mexico. All our groceries, purchases etc are purchased in the US, our children are homeschooled and books purchased in the US, can we file as "living" in US and be eligible for tax rebate? Thanks!
Posted by: Sara at 06/10/2008 03:19:34 PM
My income consists of a pension from a large company and money I took out of my annuity. I owed, but sent payment when filing. Will I get the stimulus?
Posted by: Emmanuel at 07/31/2008 06:58:40 PM
Can I file an amended tax return to change filing status from single to married filing seperate?
Posted by: d. keda at 09/04/2008 06:11:17 PM
As I understand it if I have an adjusted gross income exceeding $150,000.00 I cannot deduct expenses on 2 rental properties. Is that (true)?
Posted by: rk shores at 09/09/2008 01:56:02 PM
I thought i recently read (march 08) their was no capital gains tax for taxpayers 65 years of age or older. was I dreaming?
Posted by: Mindy at 10/24/2008 05:14:26 PM
I am trying to rollover an Roth IRA from an Credit Union to an Bank. When I contacted the Credit Union in regards to this they told me there is a $30 fee (this fee was not in the orginial paperwork, they just added this last year and it is for withdrawals and terminations) since it would be termination - I am rollover into another IRA. They also said that the $30 would be taken from the balance of the IRA which from the information I have read on IRA’s that anything taken from the IRA is subject to pentalities and tax emplications. Would this $30 have tax consquences and where would I go to find out? I ask the people aat my Credit Union and they did not know. Also is this legal?
Posted by: Joe Donahue at 12/01/2008 10:32:48 AM
...I closed a 529 account that had lost value since my initial investment. Are the losses tax deductible, like other capital losses? Thank you in advance for your response.
Posted by: William Mc at 03/04/2009 12:44:32 PM
Can I deduct my mortgage interest if I take the standard deduction?
Posted by: Phil at 03/21/2009 09:45:09 PM
When I sell my property at 250,000.00 with a full capital gain, take my gain and pay my mortgage off along with other dedt...What bracket of % would I be taxed on!
Posted by: bob terrell at 04/11/2009 12:26:21 PM
I am 55 and retired. Can I withdraw money from my former employers 401k plan penalty free? I may continue to work at a part time job.
Posted by: CMS at 06/20/2009 10:49:02 AM
I am age 57 and have 2 separate 401K plans from previous employers. I am interested in moving them to a single Roth IRA acct. How can I do this with the lowest cost? thanks
Posted by: mike smith at 11/18/2009 03:04:57 PM
I have been going to college for most of this year to get my AS degree. Can I file for some sort of tax credit or payment? I seem to remember hearing that the Obama administration was paying up to $3000 for people who returned to school.
Posted by: Elizabeth at 01/18/2010 01:56:40 PM
I am an individual. If I pay someone to do landscaping on my personal property and pay them more that $600, do I have to, as an individual, issue them a 1099 and file a 1096?
Posted by: WANDA BAILEY at 01/25/2010 07:33:02 AM
I AM RETIRED , INCOME CONSISTS OF SS, PENISON FROM WORK IN FACTORY AND SOME INCOME FROM AN IRA TOTAL $25,539.64 will I have to pay any tax?
Posted by: Gene Farrell at 02/12/2010 09:52:22 AM
I live in Ner Jersey. My mother-in-law passed away recently.My wife will soon be named as administrator of her estate (she had no will). My moter-in-law had four children. One daughter has been separated from the family for many years. We do not know where she is and have not been able to locate her. (We have tried old adresses and a newspaper add.) The surogate office told us that we will still have to set aside one quarter of the estate and send it to NJ to hold for her; if she is ever to claim it. Is this correct? Where can I find more about this? Where in NJ would we send the check for this amount? Thanks for your interest, Gsns Farrell
Posted by: james at 02/13/2010 05:08:52 PM
If one has a loss in a ROTH ira using the principal investment as the basis, no withdrawals, and he closes out the ROTH ;can he take a loss? the ROTH is over 6 yrs. and the investor is 75+ years old. if so could he reopen or convert a tradional ira after closing the first ROTH? thanks.
Posted by: Eddie Cox at 02/23/2010 06:53:27 PM
I spent 7200 on my home in 2009 adding new siding, caulking. Is this a deduction?
Posted by: Fred at 04/11/2010 04:19:52 PM
Can you deduct part of the cost of an energy efficient washer and dryer purchased in 2009 from the taxes owed for 2009?
Posted by: Chris B at 04/14/2010 08:51:54 PM
Can I deduct New Jersey Estate Taxes I paid on my mother's estate on my Federal Tax Return? I did withdraw money from the inherited IRA.
Posted by: joyce at 06/29/2010 01:41:45 PM
I purchased a home in September 2009 in another state and qualified for the first time home buyers credit. I recently had to delay my move date due to an illness and inability to transfer my job until later this year. Is there a time frame for when you must occupy the house? I have already moved in some personal belongings and set up all utilities.
Posted by: J Quimby at 07/22/2010 12:38:31 PM
If Social Security payments are exempt from taxes why do I have to make up $3,000. per year because I do not have taxes taken from my Social Security check?