Q&A: Let our tax expert help you

MSN Money's Jeff Schnepper, a tax attorney and the author of 'How to Pay Zero Taxes,' answers some commonly asked questions from our readers on video.

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By MSN Money staff

Filing a return

Can I file my taxes without a W-2?

What can I do if I find a mistake on my return after I've filed it or if my W-2 is incorrect?

Refunds

Is it common to have your state refund be larger than your federal?

Stimulus checks

Are we being taxed on the stimulus checks we received last year?

Couples

My fiancé and I are both listed on the mortgage and property records. But my Social Security number is the second number listed on our mortgage, and my name is the second name listed on our property taxes.Since we are not married, we file separate tax returns. Am I allowed to take half of the deductions from the mortgage and property taxes?

My husband and I will be going through our first tax season together as a married couple. What are the benefits of filing jointly? What is the difference between married filing separately and filing jointly? Which filing status would get us the best tax break, and why?

Investments

I sold stock on Dec. 31, 2008, but it didn't settle until Jan. 6, 2009. Can I still take the loss for 2008?

How do my retirement accounts affect my taxes?

I need the best options to cash out for a down payment to purchase a home. What's the best way to cash out my retirement savings?

Severance packages

I have recently taken an early retirement with a severance payout. The severance was promised to be paid out in 2009, but the company paid it out in 2008. This has created a huge tax burden in filing 2008 taxes. Do you have any suggestions on the best way to handle this on my return?

Theft losses

Someone broke into my apartment in March 2008. I lost about $1,000 on a stolen television and repairs. I have a police report but never received a claim from my insurance company. Can I claim this loss on my tax return? If so, how?

Continued from page 1

Medical expenses

I borrowed $11,000 to pay medical expenses for my wife and son in 2008. Can I deduct this amount this year, or do I get to deduct only what I have paid each month on the loan?

Adult offspring

Can our mentally challenged adult daughter who receives SSI (Supplemental Security Income) of $637 a month file a separate tax return, or does she file with us on our return?

Most common question

What's the most common question for our tax expert?

Do you have a tax question? Post it on the Tax Corner message board.

Produced by Peggy Collins

Published Feb. 26, 2009