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California Subtractions from Income

: Make no adjustment for lottery winnings from other states. They are taxable by California. California and federal laws allow gambling losses only to the extent of reported gambling income. If you reduced gambling income for California

Ten Important Changes for Taxpayers for filing year 2011

Gains and Losses In most cases, you must report your capital gains and losses on new Form 8949 and report the totals on Schedule D. If you sold a covered security in 2011, your broker will send you a Form 1099-B (or a substitute statement

Kentucky Subtractions from Income

); differences in the gains (losses) from the sale of intangible assets amortized under the provisions of the Revenue Reconciliation Act of 1993; differences in gains (losses) from assets purchased after September 10, 2001; and income of military

How do I add a miscellaneous deduction that is not in TaxSlayer's list?

to be included in your gross income; or To determine, contest, pay, or claim a refund of any tax. Examples: Appraisal fees for a casualty loss or charitable contribution. Casualty and theft losses from property used in performing services

How do I enter a Wash Sale with TaxSlayer?

account (IRA) or Roth IRA. Please Note: You cannot deduct losses from sales or trades of stock or securities in a wash sale. Here is an example of how to enter a wash sale in our program: Mary purchased Dell stock for $500 on January 1, 2015

I sold some assets. When would I report the sale as a "sale of business property" instead of a capital gain?

that sale on a Schedule D. You can find the Schedule D in our program by going to Federal Section > Income > Enter Myself > Capital Gain and Losses . For more information, please reference either IRS Publication 544, Sales and Other

Examples of Items to Report as Other Income

and awards. Gambling winnings, including lotteries, raffles, a lump-sum payment from the sale of a right to receive future lottery payments, etc. For details on gambling losses, see the instructions for Schedule A , line 28, on page A-10

Business Use of Home (Overview)

of your home include the business portion of real estate taxes, deductible mortgage interest, rent, casualty losses, utilities, insurance, depreciation, maintenance and repairs. You may not deduct expenses for lawn care in general

What is "Qualified Production Activities Income (QPAI)"?

(if any) of: Domestic production gross receipts (DPGR) MINUS The sum of: Cost of goods sold allocable to DPGR plus Other expenses, losses, or deductions allocable to DPGR. What is DPGR (Domestic Production Gross Receipts)? Generally, your DPGR

What is a Short Sale?

received a Form 1099-B for a short sale you entered into in 2015 but that did not close in 2015, report it on line 1 or line 8 of Schedule D, Capital Gains and Losses. Enter the sales price in column (e). If the short sale did not close