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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

Kentucky Subtractions from Income

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 personnel

Oklahoma Additions to Income - Schedule 511-B

. The gain/loss from the sale of a state or municipal bond, other than those provided for in line 1, is exempt only if so provided by the statute authorizing its issuance. Out-of-State Losses If you incurred losses from the operation of an out

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

Wisconsin Credits

had itemized deductions. Exceptions : Even though Schedule 1 has entry lines for medical expenses, interest paid, gifts to charity, and casualty losses, not all of the amounts of these items that are deducted on federal Schedule A can

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

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, 2014

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