Capital Loss or Casualty Loss?

JS Writes:A Happy & Healthy New Year to you and yours. Just a thought: If a taxpayer invested with Madoff, and receives no eventual proceeds, would this be treated as a deductible theft loss or...

IRA to Roth Rollover

Charles writes: I was wondering if a traditional IRA is rolled over to a ROTH IRA, is that considered income or a capital gain? The reason why I am asking this is if I lost $20,000 in the stock...

Sales Tax on Gas Purchases

Sandra writes: Dear Gina, A friend of mine saves EVERY gasoline receipt after she fills up her (personal use) car. She claims she can deduct~~ 38 cents per gallon of gas because the Federal and...

Low Income Housing Credit

Steve writes: hello,i have a passive low income housing credit for a partnership I am in but could not take it last year because of income . I was wondering if you could tell me the parameters of...

Recovery Rebate Credit

The Recovery Rebate Credit for 2009 is an option if you didn’t receive your economic stimulus payment in 2008 or if something happened in 2008 that would cause your economic stimulus payment to be...