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Rents and Royalties Schedule E % of Ownership and Depreciation

using MACROS 27.5 years depreciation for the time they own the property. Depreciation is the annual deduction you must take to recover the cost or other basis of business or investment property having a useful life substantially beyond...

What CAN and CANNOT be deducted as a Casualty or a Loss?

trees, etc.) caused by termites, moths, other insects, or disease What about Insurance or other reimbursements? If the amount you receive in insurance or other reimbursement is more than the cost or other basis of the property, you have...

How do I enter a Wash Sale with TaxSlayer?

and because the purchase was of substantially identical stock, the loss would be a Wash Sale. Report this Wash Sale as follows: First Entry Description of Property: Dell Stock Date Acquired: 01/01/2014 Date Sold: 5/5 Sales Price: 300 Cost: 500......

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

Income from incidental or outside sources (including sales of business property) Gross receipts are generally not reduced by the cost of goods sold or adjusted basis of property (other than capital assets) sold or otherwise disposed...

SC Other Additions to Income

interest to out-of-state partnerships and interest paid to purchase United States obligations. Foreign areas allowances, cost of living allowances and/or income from possessions of the U.S. are additions to federal taxable income. Effective...

2012 Standard Mileage Rates

reductions to basis for depreciation taken under the business standard mileage rate and the maximum standard automobile cost that a taxpayer may use in computing the allowance under a fixed and variable rate plan. The optional business...

New York Other Additions

had included the cost of the energy system in the federal basis of the property but did not reduce the federal basis by the state credit, then include the amount of the credit you had previously claimed. Environmental Remediation Insurance...

Wisconsin Subtractions from Income

Medical Care Insurance - Code 01 You may be able to subtract all or a portion of the cost of your medical care insurance. " Medical care insurance " means a medical care insurance policy that covers you, your spouse, and dependents...

New York Subtractions from Income

assets. If you realize a federally taxable gain from the sale of an asset that had a higher adjusted basis for state tax purposes, you may make an adjustment to reduce your gain for state tax purposes. If your federal AGI included gain...

South Carolina Additions to Income

return related to any income exempt or not taxed by South Carolina is an addition. Some examples are investment interest to out-of-state partnerships and interest paid to purchase United States obligations. Foreign areas allowances, cost...