Question: Are Foreign taxes deductible? Answer: No. But you get tax credit for foreign tax payments.
Question: Is State income tax deductible? Answer: Yes
Question: Is Cigarette tax deductible? Answer: No
What is income?
Question: Is Social Security income? Answer: Yes
Question: Is cash paid for raking leaves income? Answer: Yes
Question: Is SSDI income? Answer: No
Question: Are royalties income? Answer: Yes
Question: Are veterans benefits income? Answer: No
Put it here
Question: Where do you put itemized deductions? Answer: On Schedule A
Question: Where do your report Self Employment income?
Answer: On Schedule C
Question: Where do you report Rental Income? Answer: You don't unless you are Military certified. Rentals are out of scope.
Military certified report rentals on Schedule E.
Question: Where do you report Gambling losses. Answer: Report Gambling losses on Schedule A.
Question: Where do you report Interest income from a seller financed mortgage? Answer: Report seller financed interest on Line 1a of Schedule B.
You want proof?
Question: Is my mother's handwritten note with my Social Security number is all the proof you need of my number? Answer: No. Sorry, Mom. Only the real Social Security card will do.
Question: Is my current passport is a valid picture identification?
Answer: Yes.
Question: Is my Costco card is valid identification? Answer: No.
Question: Is a letter sent to me from the Internal Revenue Service with my Taxpayer Identification number is a valid identification? Answer: Yes.
Question: Is my Medicare card with only my Part B date is a valid identification? Answer: No. Only a Part A date is valid.
I'm at a loss
Question: I bought Enron stock in January and sold it at a loss in March. What kind of a loss do I report?
Answer: Short term capital loss.
Question: I lost $500 at Spirit Mountain Casino, but didn't win a dime all year. How do I report my loss for taxes? Answer: You don't. You can only report losses equal to your total winnings.
Question: I inherited $100,000 of Intel stock on Feb. 17, and sold it the same day. Intel closed that day down 50 cents a share. Where do I report my loss? Answer: You don't. You had no loss.
Question: I sold my house in Noember for less than my purchase price five years ago. Where do I report my loss? Answer: You don't. Capital losses from home sales are not reportable.
Question: I lost my W2 and still filed my 1040 in 2013. I just found that W2. Can I file an amended return? Answer: Yes.