Tax Center Q&A
Need help with your taxes? USATODAY.com will publish a reader's question and the answer from a member of the American Institute of Certified Public Accountants (AICPA) every weekday until April 15.
Here are the answers to the past tax questions.
Feb 27
Capital gains apply to sale of inherited property
Feb 28
Document IRA rollover to prevent paying taxes on distributions
Feb 29
Consulting work may be subject to self-employment tax
March 1
Marital status at the end of the year determines filing status
March 2
Claiming deductions requires taxpayer to itemize
March 3
No penalties for withdrawing from a UGMA account to fund 529 plan
March 4
Assisted living costs for Alzheimer's patient is tax deductible
March 5
Taxes on pension benefits can't be avoided by rolling over to an IRA
March 6
Working in different states requires filing non-resident income tax
March 7
Deduction for daughter's lessons depends on if it's a business or hobby
March 10
Calculate both married filing joint and separate to determine best results
March 11
Deducting losses on worthless stock must be done in the first year
March 13
Son must meet qualifying person test for you to claim head of household status
March 14
Son retains mother's original cost basis if home given as gift
March 17
Deductions exist for workers with temporary jobs away from home
March 18
Commissions considered selling expenses when computing taxable gain on house sale
March 19
Employee can deduct business use of car if employer does not reimburse
March 20
March 25
March 26
Sale of second home is subject to capital gains tax
March 27
Consider making a traditional IRA contribution
The 360 Degrees of Financial Literacy Web site offers general information for managing personal finances and does not recommend specific financial actions. For financial advice tailored to your situation, please contact an expert such as a CPA or a personal financial advisor.
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