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Arizona Subtractions from Income

Arizona lottery winnings here, you may have to adjust the amount of gambling losses claimed as an itemized deduction. See instructions for Form 140 Schedule A, Itemized Deduction Adjustments . U.S. Social Security Benefits or Railroad...

Arkansas Credit for Taxes Paid to Another State or Country

of Mississippi enacted a special tax that applies exclusively to gambling winnings. This tax is separate and distinct from Mississippi's income tax. As such, an Arkansas taxpayer cannot claim a credit against his/her Arkansas income tax...

Illinois NonResident and Part Year Taxable Other Income

to include other Illinois gambling winnings such as riverboat and pari-mutuel winnings. A business net operating loss (NOL) from an earlier year that is being carried forward. If your loss was derived: from a partnership or an S corporation...

Connecticut Credit for Taxes Paid to Another State

services performed in a qualifying jurisdiction; Income from a business, trade, or profession carried on in a qualifying jurisdiction; Gambling winnings from a state-conducted lottery; or Income from real or tangible personal property...

Oregon Tax

the installment method unless you "elect out" on or before the due date for filing your tax return for the year of the sale. If you elect out, you report all the gain as income in the year of the sale. Installment sale rules do not apply to losses. You...

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

What CAN be deducted? You can deduct losses from fire, storm, flood, shipwreck, or other casualty. You can also deduct losses from thefts such as larceny, embezzlement, and robbery. You can even deduct the loss of deposits because...

Forms and Schedules

only on the 1040. Allows for Capital Gains/Losses, IRAs, K-1s, etc. Automatically created by entering information into program. Supporting Forms These forms are used to do the calculations for figures that are reported on the 1040. Schedules...

Rhode Island Military Filing Information

other income derived from Rhode Island sources such as business income, ownership or disposition of any interest in real or tangible personal property and gambling winnings are still subject to Rhode Island income tax. Internal Revenue...

What is a "Collectible Exchange"?

If you had capital gains or losses that you need to report on your return, there is certain information about the sale that you must know that will affect how your transaction gets treated: the purchase and sale dates, the cost to you...

Mississippi Income Subject to Tax

the amount of capital gain or loss. Mississippi generally follows IRS rules concerning computation of capital gains and losses. Capital loss deductions are subject to the same limitations as federal. However, Mississippi does not have...