Discussion:Tp with no assets in assisted care
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| Revision as of 16:54, 21 February 2008 Ekcpa (Talk | contribs) (New Discussion) ← Previous diff |
Revision as of 00:32, 22 February 2008 Vickytown (Talk | contribs) (How much of 40,0) Next diff → |
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Revision as of 00:32, 22 February 2008
Discussion Forum Index --> Basic Tax Questions --> Tp with no assets in assisted care
Discussion Forum Index --> Tax Questions --> Tp with no assets in assisted care
| 21 February 2008 | |
| TP goes into assisted living. Only asset was 40k IRA. Cashes IRA and gives money to assisted care and medicaid. TP is left collecting 90$ per month and now has a tax bill for 07 (Nothing witheld on IRA) of $4k.
TP is married but filing separately. NJ, Not community property. What do you think IRS will do. There are no assets to lean. I don't think they can go after husband. I figure they'll send letters for a while. Any thoughts | |
| 22 February 2008 | |
| How much of 40,000 was used to pay deductible medical expense? | |
