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Can I deduct contributions I made to my spouse's IRA?

Yes. However, you must be filing a joint return. If you are filing as Married Filing Separately, you cannot deduct contributions made to your spouse's IRA. For more information on IRAs: Can I take an IRA Deduction for the amount I

What Income is Taxable?

While most income you receive is generally considered taxable, there are some situations when certain types of income are partially taxed or not taxed at all. Some common examples of items that are not included in your income

Taxable Social Security Benefits

Taxable Social Security Benefits are calculated based on other income reported on your Federal return. The taxable portion is reported on federal Form 1040A, Line 14b or Form 1040, Line 20b Beginning in tax year 2007, you may deduct up

Arizona Itemized Deductions

Within your TaxSlayer account, itemized deductions will be automatically pulled from the entries made in the federal program under "Itemized Deductions". Certain adjustments are required by Arizona law which will SUBTRACT from

Delaware Additional Itemized Deductions

Federal Itemize d Deduction - If you are filing a joint federal return and separate Delaware returns, the deductions must be determined as if each spouse had filed separate federal returns. If you are unable to specifically allocate

Is my Scholarship/Grant Taxable?

A scholarship is generally an amount paid or allowed to a student at an educational institution (college or university) for the purpose of study. A fellowship is generally an amount paid to an individual for the purpose of research. If you receive a scholarship or fellowship grant, all or part of the amount(s) may be tax-free to you. Qualified scholarship(s) and fellowship grants are treated as tax-free if you meet the following conditions: 1. You are a candidate (student) for a degree at an educational institution that maintains a regular faculty and curriculum and normally has a regularly enrolled student body in attendance where it carries on its educational activities (campus); and 2. Amounts you receive as a scholarship(s) and fellowship grants are used for tuition and fees required for enrollment or attendance at the educational institution, or for books, supplies, and equipment required for courses at the educational institution. Note : If you meet the two conditions above, you do not have to report the applicable amounts of your scholarship(s) or fellowship grant(s) as income on your tax return. You must include in your tax return (as gross income) amounts used for incidental expenses, such as room and board, travel, and optional equipment, and generally amounts received as payments for teaching, research, or other services required as a condition for receiving the scholarship or fellowship grant. For additional information pertaining to Tax Benefits for Education, please refer to IRS Publication 970.

Mississippi Itemized Deductions

Standard or Itemized Deductions You may choose to either itemize individual non-business deductions or claim the standard deduction for your filing status, whichever produces the greater tax benefit. Note : The TaxSlayer program

Itemized Deductions - An Overview

Examples of Itemized Deductions: Medical and Dental Expenses The medical and dental deductions include medical and dental insurance, amounts paid to doctors/dentists, prescriptions, X-Rays, lab work, nursing help (not for healthy baby

Truck Driver Tax Deductions

Truck drivers can claim a variety of tax deductions while on the road. Mileage, daily meal allowances, truck repair (maintenance), overnight hotel expenses, and union dues are some of the tax deductions available. However, local truck

Job Search Expenses and Deductions

miscellaneous deductions that exceed two percent of your adjusted gross income. Note : Based on your miscellaneous itemized deductions entries within your TaxSlayer account, the applicable deduction will be calculated for you according to the 2