Search found 2 matches

by Magic75755
Wed Feb 21, 2018 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: is support for special needs/medically dependent adult child deductible?
Replies: 2
Views: 278

is support for special needs/medically dependent adult child deductible?

My son turned 18 at the end of 2017. He has permanent medical and neurological disabilities and at this time, he is totally dependent on us for his care and support. His medical needs are considerable and I have itemized and taken these expenses off for some years. Can I continue to deduct his expen...
by Magic75755
Wed Feb 21, 2018 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: is inheriting land out of an LLC a taxable event?
Replies: 3
Views: 505

is inheriting land out of an LLC a taxable event?

I need to know if this is a "taxable event." My parent passed away and our family farm is in an LLC. My brother and I have agreed to split the farm between us. If I receive my half as inheritance OUT of the LLC (and the LLC is owned by our mother's trusts), and other beneficiaries have agreed to tak...