Today TaxMama hears from Craig in the TaxQuips Forum, who asks. “Are items on a HUD-1 (seller’s side), Lines 510-519, deductible by the seller as taxes paid on Schedule A or are they adjustments to the basis?” Dear Craig, Rita Lewis, EA in CT

Today TaxMama hears from Jill in the TaxQuips Forum, with this question. “In 2010, I received a check from the Oregon Department of State Lands for money on an unclaimed bond that my grandmother bought for me years ago. The Oregon State Treasury had me

Today TaxMama hears from Seth in the TaxQuips Forum, with this question. “In order to qualify for my mortgage in 2009, I needed to put down 20% of the purchase price of my house. I only had 5% to put down. Therefore, I got another loan to cover the re

Today TaxMama hears from Christine in the TaxQuips Forum, who is unhappy with her investment. “I have an IRA, with 2 classes of shares of the same mutual fund. One is doing OK; the other is leaking money like a sieve. I’d like to use the poor one (a

Today TaxMama hears from Lindsay in the TaxQuips Forum, with the right question at the right time. “I need to find out how to fill out a new W-4 since I recently had a baby. I had a baby in September. I am single, with one job. Should I claim 2 on my W-

Today TaxMama hears from Sethu in the TaxQuips Forum, who is angry. “For the 2009 tax year the non-itemizers (those who used standard deduction) could add up to $1,000 to their regular standard deduction if they paid real estate taxes greater than $1,00

Today TaxMama hears from Alice in the TaxQuips Forum with an interesting concept. “As a non-profit organization we receive contributions from members and for their generosity we give them vouchers (with dollar amounts) that they can redeem for future e

Today TaxMama hears from Linda in the TaxQuips Forum with this concern. “I have a very small business teaching classes and sometimes use a local clubhouse as a venue. Some participants pay me directly; others pay the clubhouse. The clubhouse keeps 10%

Today TaxMama hears from Brian in the TaxQuips Forum with a good question. “I bought a new 2010 personal car in 2010. Is the car sales tax deductible on 2010 taxes?” Hi Brian, Don’t you just love that new car smell – and that fresh, sparkl

Today TaxMama hears from Seth in the TaxQuips Forum with a sensible question. “I have a lawn guy for my house. I pay him $90 a month for 8 months out of the year ($720 for the year). The checks are made out to him directly. From an IRS standpoint, am