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Bribby 
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Joined: May 12 2011
Location: TX
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 Posted: Jan 03 2013 at 10:33am |
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This is so upsetting because I didn't know about any of this, so annoying and stressing me out when I don't need no worries like this
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SamoneLenior
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Joined: Oct 06 2005
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Posted: Jan 03 2013 at 10:33am |
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wait, she must have forged your signature
I have accounts in my name but I had to sign so they could be opened
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Bribby
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Posted: Jan 03 2013 at 10:34am |
 SamoneLenior wrote:
this happens
just let her pay it and be done with it
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Okay, thank you.
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ThoughtCouture
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Joined: Jun 08 2006
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Posted: Jan 03 2013 at 10:34am |
they will not throw you in jail lol. you can only go to jail for tax evasion and to proove that is very difficult.
anyway, the $14K is from your mom selling some stock (that was in your name). you only have to pay taxes on the gain (what the stock was sold for - what the stock was bought for). the $1,700 represents the taxes owed on the gain plus interest and penalties.
just tell her to pay the $1,700 and ammend her tax return to include schedule d.
Edited by ThoughtCouture - Jan 03 2013 at 10:37am
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Sang Froid
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Posted: Jan 03 2013 at 10:34am |
Did she get it when you were younger? Just let her pay the money.
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Bribby
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Posted: Jan 03 2013 at 10:35am |
SamoneLenior wrote:
wait, she must have forged your signature
I have accounts in my name but I had to sign so they could be opened
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She said it was so "college thing" that she opened when I was younger and cashed out when I turned 18 but this was in June 2011, I didn't turn 18 until October 2011
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ThoughtCouture
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Posted: Jan 03 2013 at 10:35am |
SamoneLenior wrote:
wait, she must have forged your signature
I have accounts in my name but I had to sign so they could be opened
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if the account was opened when she was a minor probably not.
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SamoneLenior
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Posted: Jan 03 2013 at 10:35am |
ThoughtCouture wrote:
SamoneLenior wrote:
wait, she must have forged your signature
I have accounts in my name but I had to sign so they could be opened
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if the account was opened when she was a minor probably not. |
true I wonder when it was created how old is the OP?
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Bribby
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Posted: Jan 03 2013 at 10:37am |
ThoughtCouture wrote:
they will not throw you in jail lol. you can only go to jail for tax evasion and to proove that is very difficult.
anyway, the $14K is what the mom sold some stock. you only have to pay taxes on the gain (what the stock was sold for - what the stock was bought for). the $1,700 represents the taxes owed on the gain plus interest and penalties.
just tell her to pay the $1,700 and ammend her tax return to include schedule d. |
The last part is what I don't understand. Right now I have a letter telling me to agree or disagree, she wants to agree and pay the money, the tax guy said disagree and file schedule d...
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Bunnyahh
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Posted: Jan 03 2013 at 10:37am |
SamoneLenior wrote:
wait, she must have forged your signature
I have accounts in my name but I had to sign so they could be opened
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not true. parents an have custodial accts in the kids name. I have a few, savings, cd's, stocks, 529, etc...
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