James Daloisio

I've spent my adult life pursuing two separate professional careers, one in law enforcement and the other in taxation. I've been preparing tax returns in California for over twenty years, and have represented clients in front of the Internal Revenue Service, the Franchise Tax Board, and the Board of Equalization during that time. My clients appreciate the fact that I don't try to scare them into paying exorbitant fees just because the IRS wants money from them. Taxation is a complex area of the law, however, and you don't want to face the well trained and experienced agents and lawyers that the IRS employs without the assistance of an attorney who knows the law as well, or better, than they do. I will always try to resolve your case at the earliest possible stage and the lowest possible level; but if going to tax court becomes necessary, rest assured we'll be prepared. If you receive a letter from any of the taxing authorities, call me first. The call is free, and you owe it to yourself be pro-active with tax matters.

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California

Since 1990

District Court for the Central District of California

Since 1990

U.S. Tax Court

Since 2005

Whittier Law School

J.D. (1989)

Q. I filed my taxes this year , and someone claimed me on their taxes . I don’t Know how to go about this ?

June 17, 2020

A: Hello,

Your situation is not uncommon.

You said you filed your taxes, so I'm assuming you mailed your tax return because if you e-filed it'd have been rejected.

If your paper return was rejected and returned to you or if you received a rejection notice, re-file your tax return via U.S. Mail and enclose a cover letter explaining that you are not anyone else's dependent and have been claimed fraudulently.

Also enclose this form with your tax return: https://www.irs.gov/pub/irs-pdf/f3949a.pdf

Check the line 3 box "other" and explain in the line 5 comments that you were notified that you'd been claimed as a dependent on someone else's return, but you aren't anyone's dependent and the other return is fraudulent.

That's it. Given the present partial IRS shutdown it will take a while for your paper filed return to be processed. But there is no quicker solution.

Let me know if you'd like any further details or information.

Thank you for visiting Justia. ... Read More

Q. Selling my house will I be taxed based on the amount of the sale or the amount minus mortgage and capital improvements?

May 22, 2014

A: It depends. If you the house was your principal residence for two of the five years prior to the date you will sell it, then you can exclude up to $250,000 of gain ($500,000 if married filing jointly). If you have not used the house as your principal residence for two of the last five years, a capital gains tax will apply. To determine the gain, you have to know the "basis" of your house. If you purchased the house in a conventional real estate transaction, your basis is the purchase price plus costs (broker fees, etc.) plus any capital improvements you've made (new roof, room addition, driveway, etc.). The difference between the sale price (minus costs of sale) and basis = g ain. ... Read More

Q. I have been living alone in my parents' home for the last 4 years. Will they have to pay capital gains tax if they sell

May 18, 2014

A: Your analysis is correct: in order to exclude the tax on up to $500,000 of gain, your parents would have had to have lived in the house, as their primary residence, for two of the five years before the sale. Yes, the rule applies even though an immediate family member is now living in the house. There are two components to this rule: Ownership and Use. You have to own the property for two years; you have to live in it as your principal residence for two years. Those two year periods must occur some time within the five years preceding the sale date. As far as a solution, the obvious one is for you guys to switch houses for two years. It depends on how long they are willing to hang onto that house. There are other alternatives, of course, that involve gifting, trusts, and wills but addressing those items would require much more than an answer in this forum. You should speak with a tax and/or real estate professional. Good luck! ... Read More