The 2017 Tax Cuts and Jobs Act affected nearly all taxpayers and could mean that your filing strategy should change, too. Bruce and Peg talk through the items you should be thinking about as we enter tax season next year.
Questions Answered Include:
- I sold my home that my parents owned and that my mother left to me in a life estate in 2012. I sold the home in May. How do we determine the value of the home the day she died? I'm just trying to figure out what the capital gains would be on that.
- Wondering some of the things you can do to minimize taxes from your IRA's when you have large required minimum distributions?
- I own farm land that I rent - do I qualify for the new rental deduction? Thank you.
Featured Segment: New Tax Law