Start For Free

Fast, Secure, and Always Accurate!
Help Categories

Which home purchases qualify for the first-time homebuyer credit?

for this credit in 2011. Please click here for more information. Only the purchase of a main home located in the United States qualifies and only for a limited time. Vacation homes and rental property are not eligible. You must buy the home after

Do I qualify for either the Maximum Exclusion or the Reduced Maximum Exclusion for the sale of my home?

When you sell your home, many times you can exclude up to $250,000 ($500,000 if married filing jointly) of the profit that you make from the sale. There are 2 exclusions that you may qualify for: the Maximum Exclusion or Reduced Maximum

I do not own a home. I rent. Can I deduct the rent I paid?

No . You cannot deduct rent you paid while renting your home on your federal return. Some states offer a deduction for rent paid. To see if your state offers this, you would need to contact your state directly. To locate state contact info

What is the difference between "Direct Expenses" and "Indirect Expenses"?

There are 2 types of expenses that you can deduct related your home office/business: Direct Expenses and Indirect Expenses. * Direct Expenses: Direct expenses are those expenses that are paid only for the business part of your home

Schedule C - Address

address. If you have an office outside of your home where you conduct the daily operations of your business, please enter that address. Please use the physical address of the business; do not enter a P.O. Box number.

Please explain all of the deductions and credits that are available related to my job.

* You meet the distance test * You meet the time test For more information, please review Form 3903 . Business Use of Home: If you used part of your home for business purposes (as an office or for daycare), you may be entitled to a deduction

Indiana Homeowner's Residential Property Tax Deduction

home and where you intend to return after being absent. Note: Property tax paid for summer homes or vacation homes is not deductible. IMPORTANT : You cannot claim this deduction for property tax paid in 2015 if you are claiming the Lake County

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

services as an employee * Clerical help and office rent in caring for investments. * Depreciation on home computers used for investments. * Excess deductions (including administrative expenses) allowed a beneficiary on termination of an estate

What are the qualifications for "miscellaneous deductions"?

to the 2% rule*. For more information on the 2% rule, click here . Examples: * Appraisal fees for a casualty loss or charitable contribution. * Clerical help and office rent in caring for investments. * Depreciation on home computers used

Maine Credits

Child Care Credit Your child care provider may be certified as a Quality Child Care Program facility by the Department of Health and Human Services (DHHS), Office of Child Care and Head Start. If so, you will be required to enter your