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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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# ¿ Mar 27, 2011 02:13 |
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# ¿ May 2, 2024 11:38 |
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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. 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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# ¿ Mar 29, 2011 08:24 |