Recent content by fusili3

Great day in HEAVEN! Thanks for such thorough answers. Take care of yourself. I am truly grateful. YOu covered every aspect of my situation for this year and next. WOW! I really am fortunate to have gotten your answers..

IF I understood you correctly, then WHEN I cash the next round of US bonds in FEB of 2023, I will have 3 months to pay the estimated tax, which probably would be very close to what it is this year, $10,296. 1. If I write a check to the IRS for $10,296 in February for the 2023 tax, do I just...

thanks to all of you. I will pay the estimated tax NEXT year and avoid future problems and worries.

I was given 5 us savings bonds 30 years ago. I cashed them on the 1st of Sept, as they had matured. The taxable interest was $78680. I had 0 income in 2020 and 2021 and 0 income, besides these bonds, in 2022. LINE 37 OF THE 1040, THE tax that I will OWE (I AM SINGLE WITH 0 Dependents and am...

Thanks for the replies. I now know that I can achieve the goal of getting a trust to avoid taxes. I also must file the FEDERAL TAX form 709 for the gift tax that I incur. DOES California have a gift tax and a concomitant form that have to be dealt with?

MY jurisdiction is LA, CALIFORNIA, NOT DELAWARE!!!!!!!!!!! I live in California. My mom bought a house in 1972 for $20,000. In 1992 she added me as joint owner and the assessment rate, which is quite low because Prop 13 protects us, did not change. The house was worth about $300,000 in...