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Kentucky Additions to Income

the passive activity loss adjustment (see Form 8582-K and instructions); differences in pension (3-year recovery rule) and IRA bases; differences in gains (losses) from the sale of intangible assets amortized under the provisions...

Business Use of Your Home - What expenses can be deducted?

Types of Expenses: The types of expenses that may be deducted are: Casualty losses Mortgage interest Real estate taxes Excess mortgage interest Insurance Rent Repairs and maintenance Utilities and services Security systems Depreciation...

What do I do with this tax form I received?

Mortgage Interest Form W-2 Wages and Earnings 1099-C Cancellation of Debt 1098-E Student Loan Interest Statement Form W-2G Gambling Winnings/Losses 1099-DIV Dividends and Distributions 1098-T Tuition and Fees Schedule K-1 (Form 1041...

What expenses cannot be deducted as "moving expenses"?

Expenses of buying or selling a home (including closing costs, mortgage fees, and points). Expenses of entering into or breaking a lease. Home improvements to help sell your home. Loss on the sale of your home. Losses from disposing...

What is a Qualified Plan?

in the plan. It provides benefits to a participant largely based on the amount contributed to that participant's account. Benefits are also affected by any income, expenses, gains, losses, and forfeitures of other accounts that may...

Mississippi Itemized Deductions

between them. Mississippi Gaming Losses are not deductible on Mississippi itemized deductions. Standard Deductions and Exemptions Married - Filing Joint or Combined Return : The standard deduction ($4,600) and the authorized exemption...

Ohio Additions to Income

pass-through entity must also enter on this line the taxpayer’s proportionate share of expenses and losses that the pass-through entity incurred with respect to the pass-through entity’s 40% or more related members. This provision does...

Form 1099-A : Acquisition or Abandonment of Property

debt. The tax consequences of abandoning property depend on whether or not your were personally liable for the debt. Losses on acquisitions or abandonments of property held for personal use are not deductible. For More Information on 1099-C...

New Mexico Modified Gross Income

for yourself, your spouse and your dependents. You may not reduce MGI by deductions or offset MGI by losses allowed for income tax purposes under the New Mexico Income Tax Act or under the Internal Revenue Code. When calculating MGI, include...

Section 179 Deduction Limitations

in the management or operation of the trade or business. In general, figure taxable income for this purpose by totaling the net income and losses from all trades and businesses you actively conducted during the year. Net income or loss from...