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Tag Archives: parents’

The Moneyist: My parents claimed me on their 2019 taxes and received my 3rd stimulus check, but I don’t qualify based on my 2020 taxes. Will the IRS ask for it back?

Dear Quentin, I’m confused. My parents claimed me on their 2019 taxes (which was fine and agreed upon). However, I got married and filed my own 2020 taxes. When the third stimulus checks were released, my parents had not filed their 2020 taxes yet, so they received stimulus money for …

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The Moneyist: I’m 28, have zero debt, a 401(k), Roth IRA and $45K in the bank. My parents want me to save for a home. I want a Tesla Model 3. Who’s right?

Dear Quentin, I’ve been flip-flopping back and forth between buying a new car or putting a down payment on my first home. With my parents being very money-minded and keeping a careful eye on my finances (still), I’m caught in a predicament. The original plan was to save up 20% …

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The Moneyist: When my parents died, my sisters and I split their estate. I chose a painting that was appraised at $50,000. Should I tell them?

Dear Moneyist, After both of my parents died, my sisters and I divided up furniture, finances, and artwork, etc. The process of dividing their estate was done equitably, and without stress or rancor. Until now. My parents had a large art collection. One of the paintings that I chose may …

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The Moneyist: ‘It was hell!’ I stayed in an Airbnb on my parents’ street for Thanksgiving. My mom pleaded with me NOT to write a bad review. What do I do?

Dear Moneyist, I didn’t want to put my parents at risk for Thanksgiving, so I booked a house on their street two months ago and stayed there for six days. My wife and I sequestered for another six days beforehand. Before we sequestered we both got COVID-19 tests, which were …

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The Moneyist: My parents gave my brothers and me $8 million in bonds, stocks and ETFs. I’d like to use my profit to travel. My parents refuse

Dear Moneyist, Last week, my parents surprised my three siblings and I, by giving us an in-life inheritance of $ 8 million U.S. dollars in stocks, bonds, ETFs etc. in a shared account (25% for each). As my brothers and I were discussing that we’d re-invest almost all of the …

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The Moneyist: I moved into my in-laws’ home. My husband wants to pay his parents’ mortgage, but it will come out of my income. How can I protect myself?

Dear Moneyist, I got married recently and moved into my husband’s house that he shares with his parents. (His name and his parents’ name are on the deed.) Currently, we pay a small amount for rent, but my husband hopes to take on the mortgage of the house over the …

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The Moneyist: My husband and I set up a nonprofit for his parents. We charged them $10K. When his siblings found out ‘all hell broke loose’ — now they want $10K for simply doing chores

Dear Moneyist, I am a former creative director for a global ad agency and now a freelance writer who bills at $ 125 an hour. My husband owns a graphic design firm that bills at $ 175 per hour. Last year, my in-laws, who have always been deeply involved in …

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The Moneyist: ‘I’m hurt!’ My husband of 5 years inherited his parents’ Californian home and didn’t put my name on the deed — what should I do?

Dear Moneyist,  We’ve been married for five years — happily, or so I thought. We have shared all our assets prior to our marriage, including our current accounts and bank accounts, etc. I continued to work for five years after we married, and I just retired at 65. My husband …

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