This past year Monopoly and McDonalds had there giveaway where they did cash and other prizes. Sadly didn't win any cash prize, but I did come away with a haul of non-cash prizes. I'm curious what threshold there is for having to claim any of this as income and what anybody would use to determine value.
I'm having a heck of a time getting a definitive answer on the matter described below. My spendthrift daughter inherited some money from an aunt. I convinced her to buy a 10-year-certain immediate annuity that will pay out monthly for 120 months. The immediate annuity was purchased with after-tax dollars (making it…
Hi, everyone. My question is whether an erroneous store refund is taxable income. In two unrelated instances, I returned merchandise that I had purchased, and I received a refund for more than I had paid. The first time, I bought something on sale and when I returned it, the store mistakenly refunded me the full price. The…
Hi, everyone. I have a question about what qualifies as business income. During the tax year in question, I translated written materials for a nonprofit organization approximately a dozen times. For one of my assignments, I was offered and I accepted financial compensation. How should this income be reflected on my tax…
This is a weird situation, maybe someone can help. My husband's employer took out pre-tax state pension contributions at the wrong rate for the last few years. This was a mistake on their part. These were mandatory contributions, the pension contribution rate is statutory and not chosen by the employee. They took out more…
This is my first year driving door dash. I made 300$ and never received a tax form. Wondering where in the software I would report this?
I'm wondering where I report income for a rental property that I have?
Hi, My daughter, a college sophomore, receives an annual scholarship that offsets almost 1/3 of tuition. This year, 2025, we want to make a non-qualified withdrawal in that amount. The earnings portion of this withdrawal is taxable, but should not be penalized an extra 10% because it is matched by a scholarship. However,…
I filed my taxes last week and I want to know where my refund is at
Hi All. I'd appreciate some guidance on an issue regarding income tax on a brokerage account. My wife has a brokerage account, and her son is a very successful daytrader who is authorized by POA to trade on her account. She funded all the working capital, and she withdraws the profits on a regular basis and shares it with…
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