Jeff invested in Bitcoin several years ago and has been usin…

Jeff invested in Bitcoin several years ago and has been using them to play fantasy football online. His CPA just told him that each transaction was actually a taxable event. He reluctantly reconstructed the details of his purchases and realized he has understated his taxable income for last year by 30%. When does the statute of limitations expire on his 2018 return that was filed on July 15, 2019?

Shonna pays her ex-husband alimony of $2,000 per month and c…

Shonna pays her ex-husband alimony of $2,000 per month and child support of $4000 per month. This month she is short on cash and is only able to pay $2000 total to her ex-husband. What is the character of this $2000? Shonna’s divorce decree was finalized in 2015.