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Resident vs Nonresident Alien: Filing Requirements and Tax Obligations
Foreign taxpayers must first determine resident or nonresident status. Nonresidents typically file Form 1040-NR and face 30% withholding on U.S.-source…
Medical Expense Deductions on the Decedent’s Final Return
For 2025, medical costs paid before death are deductible on the final Form 1040 if itemized and over 7.5% of…
IRD Essentials: Tax Rules, Reporting, and Basis Implications
IRD is unpaid taxable income owed to a decedent but paid after death. It keeps its tax character, receives no…
Income Tax Forgiveness for Deaths in Terrorist or Military Action
This federal rule forgives a deceased service member’s federal income tax for the tax year of death and certain earlier…
Signing the Decedent’s Final Return: Signatures and DECEASED Notation
Confirm whether a court-appointed personal representative exists; that person must sign the final return. Surviving spouses may file joint returns…
Final Decedent’s 1040: Deadlines, Filers, and Estate Considerations
A decedent’s tax year ends at death; final Form 1040/1040‑SR is usually due April 15. Post‑death income goes on Form…
Gifts of Future Interests: No Annual Exclusion; Report on Form 709
Future-interest gifts are reportable and excluded from the annual exclusion; 529 Plan contributions are present-interest gifts and can be front-loaded…
Understanding Gift Tax and Form 709: 2025 Exclusions and Exemptions
Gifts without equal return may be taxable and must be reported on Form 709 when they exceed the $19,000 2025…