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Social Animal
Nov 1, 2005

I think I'm going to go to an H&R Block for my first non-1040EZ form because I'm just so overwhelmed. Based on my income I believe I can still file 1040EZ however my brother and I have inherited a house the past year and I don't know what to do now.

If I head on over to H&R Block or another tax preparation place, would I just bring over my W-2 and copies of the checks written for the property tax payments? The house is a paid off small home so we just pay property tax.

It just really complicates things, I made really little working full time last year and I'm hoping a refund or something comes out of this as money is tight.

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Social Animal
Nov 1, 2005

Zeta Taskforce posted:

This is probably beyond the scope of this thread. There are new rules in effect that probably mean there will be no taxes owed, but you should think about professional help on this one. My understanding is you are subject to Modified Carryover Basis Rules, which allow you to increase the basis of the house by up to 1.3 million, but there are forms that need to be filled out to make this happen.

There are tax preparers at H&R Block who can do this return, but as someone who used to work there, I would venture the majority could not. That means you need to call up some offices and make an appointment with the appropriate person. Ask what documents they want you to bring in. Drop them off. Don't just walk in and take the next available person unless you want a quagmire.

Awesome I appreciate the advice. I'm going to ask around and see if I can find someone else besides H&R Block too.

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