Answer Library

Ask Blue J Answer Library

Your tax questions, answered. Ask Blue J leverages generative AI, the latest large language models and a vast and authoritative tax database to answer tax questions.

Featured Answers

Is money received from the sale of inherited property considered taxable income?

Money received from the sale of inherited property is generally not considered taxable income in the traditional sense. However, the sale of such

Does a form 5227 also require form 1041?

A Form 5227 may also require a Form 1041, but it is not a universal requirement and depends on the specific circumstances of the trust.

Can you file a form 1065 for a single member LLC?

No, you cannot file a Form 1065 for a single member LLC.

A QOF purchased tangible property in a QOZ, and that property is currently undergoing substantial improvement. Is the property substantially improved as QOZ business property for purposes of the 90% investment standard

After a registration is approved, can a GIIN be cancelled or removed if the registration is edited

Am I required to file a Form 706 or Form 706-NA

Am I required to file an estate tax return

Am I still eligible to participate in the IRS penalty relief program if I have already received correspondence from the IRS

Are Corporate Officers or Principals of the firm required to complete the registration and application process required for “Large Taxpayers” to participate IRS e-file

Are Part VIII (Form 1065) and Part VII (1120-S) of Schedules K-2 and K-3 required to be completed for dormant foreign corporations (as defined in section 3 of Rev

Are U.S. MNEs guaranteed acceptance to ICAP if they apply

Are a husband and wife that own a 50 percent interest in an LLC required to file a partnership income tax return?

Are advance Child Tax Credit payments taxable

Are all ministers treated as self-employed for social security purposes?

Are amounts a registered domestic partner receives for education expenses that cannot be excluded from the partner’s gross income (includible education benefits) considered to be community income?

Are assets in a QTIP trust part of DNI when distributed to beneficiaries?

Are business gifts deductible?

Are businesses required to obtain the taxpayer identification number (TIN) from vendors and keep it somewhere on file?

Are child support payments deductible by the payer and may the payer claim the child as a dependent?

Are child support payments or alimony payments considered taxable income?

Are community property laws taken into account in determining adjusted gross income (or modified adjusted gross income) for purposes of the dependent care credit, the child tax credit, the earned income credit, and the making work pay credit

Are community property laws taken into account in determining compensation for purposes of the IRA deduction

Are employers required to report the information that employees claim on their Form W-4 to the IRS?

Are excise taxes for a vehicle deductible?

Are exempt organizations eligible for the VCSP

Are financial institutions that file Forms 1041 as a trustee or fiduciary required to e-file

Are foreign payment settlement entities subject to the reporting requirements

Are government entities eligible for the VCSP

Are meals eaten in a restaurant tax deductible for the 2023 tax year?

Are nonresident alien students with F-1 or J-1 visas and employed by a U.S. company required to have federal income taxes withheld from their paychecks

Are partners considered employees of a partnership or are they considered self-employed?

Are payment settlement entities required to report the transactions of governmental units, whether state or federal

Are registered domestic partners each entitled to half of the credits for income tax withholding from the combined wages of the registered domestic partners

Are registered domestic partners each entitled to take credit for half of the total estimated tax payments paid by the partners

Are returns filed by a related partnership included when determining if a corporation meets the 250-return threshold

Are roofing expenditures that were necessary for the installation of solar panels eligible for the Residential Clean Energy Property Credit

Are sales paid for by stored-value cards or gift cards reportable payment card transactions

Are social security survivor benefits for children considered taxable income?

Are specific non-charitable bequests in wills included on federal form 706?

Are taxpayers who e-file their amended tax return claiming a refund involving the Research Credit required to provide the five items of information with their e-filed amended tax return

Are the Canada Pension Plan and Canadian Old Age Security benefits taxable

Are the credits refundable or nonrefundable

Are the five items of information required for informal claims for refund of the Research Credit

Are the period (.) separators in the GIIN required

Are the proceeds I receive from a reverse mortgage taxable to me?

Are there any price limitations on new clean vehicles eligible for the credit

Are there any requirements for how long the property must remain in use to qualify for the credits

Are there any special provisions related to estimated tax payments for farmers and fishermen?

Are there conditions that could change the amount of my refund?

Are there corporations that file Forms 1120, 1120-S, or 1120-F that cannot file their tax returns electronically

Are there other online resources designed to help taxpayers, especially those living abroad, meet their U.S. tax obligations

Are there plans to update the Form 8082 instructions to address when an upper-tier partnership does not receive a Schedule K-3 from a lower-tier partnership

Are we responsible for the validity of the documentation presented to us by the foreign vendor

As a full-time student, am I exempt from federal income taxes?

As a nonresident alien, I'm not subject to Social Security and Medicare withholding. My employer erroneously withheld these taxes from my pay. What should I do to get a refund of my Social Security and Medicare taxes

As a nonresident alien, do I need to report gambling winnings from the United States? If so, how do I report such winnings?

As a recipient of Deferred Action for Childhood Arrivals (DACA), am I prevented from claiming the Child Tax Credit

As an employer, do I have any liability for social security and Medicare taxes if my employees receive tips but don't report them to me?

At the acknowledgement screen (on the Complete Agency Form screen), what if I don’t check the box

Besides income taxes, what other tax liabilities does online account show

By signing the VCSP closing agreement am I admitting any liability or wrong doing for past periods

Calculate the Required Minimum Distribution (RMD) for an inherited IRA

Can Forms 1099-K be filed electronically

Can I change my bank account information after I filed my tax return?

Can I change my classification once I have started the certification

Can I claim a qualified commercial clean vehicle credit for a vehicle for which I or another taxpayer claimed a new clean vehicle credit

Can I claim an education credit for higher education expenses paid by a government-subsidized loan?

Can I claim the credit for the elderly or the permanently and totally disabled?

Can I deduct as a business expense the entire acquisition cost of a new computer that I purchased for my business or do I have to use depreciation?

Can I defer 1231 gain for a taxable year under the QOZ rules

Can I download my registration information

Can I download or print the list of sponsored entities and sponsored subsidiary branches on my account

Can I edit my submitted certification

Can I elect to defer gain if I transfer property other than cash to a QOF

Can I electronically file my corporation state income tax return

Can I file an amended Form 1040-X electronically?

Can I file my return electronically even though I am filing a Form 8379, Injured Spouse Allocation?

Can I get a transcript or copy of Form W-2, Wage and Tax Statement, from the IRS?

Can I make a change to a tax return I’ve already filed

Can I make changes to the IRS payment plan I currently have

Can I receive a tax refund if I am currently making payments under an installment agreement or payment plan for another federal tax period?

Can I split my refund if I file on any Form 1040

Can I still elect to defer tax on that gain if I have already filed my federal income tax return

Can I submit the IRS penalty relief request through EFAST2

Can I upload supporting files for my certification

Can I use the installment method of accounting when selling an interest in a partnership?

Can a Bridge year be opened for examination

Can a child be a qualifying child of more than one person? Can both people claim the Child Tax Credit for the same qualifying child?

Can a corporate distribution which exceeds earnings and profits and basis both generate gain which is excludable under §1202?

Can a decedent who is a nonresident not a citizen of the United States elect portability of the Deceased Spousal Unused Exclusion (DSUE) amount to benefit a surviving spouse

Can a limited liability company (LLC) be a QOF

Can a limited liability company file Form 1023

Can a married couple operate a business as a sole proprietorship or do they need to be a partnership?

Can a married same sex donor claim the gift tax marital deduction for a transfer to his or her spouse

Can a member FI transfer to another expanded affiliated group

Can a member of an expanded affiliated group (EAG) create their own FATCA account

Can a partner guarantee his own portion of qualified non recourse debt and make that liability recourse?

Can a registered domestic partner be a dependent of his or her partner for purposes of the dependency deduction under section 151

Can a registered domestic partner be a dependent of his or her partner for purposes of the exclusion in section 105(b) for reimbursements of expenses for medical care

Can a registered domestic partner itemize deductions if his or her partner claims a standard deduction?

Can a registered domestic partner qualify to file his or her tax return using head-of-household filing status

Can a resident alien athlete or entertainer enter into a CWA

Can a same-sex married couple elect to treat a jointly owned and operated unincorporated business as a Qualified Joint Venture

Interested in seeing Blue J in Action? Just Ask