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Virginia Deductions from Income

on a schedule VK-1 you received from an S Corporation. If you chose to accept payment in installments, the gain from the installment received in the preceding year may be deducted. If, however, you opted to receive a single payment, 10...

Indiana Homeowner's Residential Property Tax Deduction

Principal Residence? Indiana counties send statements to homeowners showing how much property tax is due on their property. Add together the 2014 spring and fall installments, if you paid both of them. If you received just one installment...

New Mexico Other Withholdings

remittee. Other Payments Enter the total payments made toward the 2014 personal income tax liability (estimated payments) as shown in your records. Include your last installment even if you pay it in 2015. Also be sure to include any 2012...

Interest You Paid - Overview

paid on a loan to purchase a car for personal use, credit card and installment interest incurred for personal expenses. Items you cannot deduct as interest include points (if you are a seller), service charges, credit investigation fees...

How and when is the First Time Homebuyer Credit repaid?

a professional to determine the tax consequences of a sale. If you transfer your home to your spouse, or, as part of a divorce settlement, to your former spouse, that person is responsible for making all subsequent installment payments....

Vermont Payments

of the proceeds, you will need supporting documentation . For installment sales : You must report the balance of your gain to VT on future returns or elect to pay Vermont 6% tax on the entire gain in the year of the sale. If you choose the 6% tax, you...

Arizona Other Subtractions From Income

Previously Reported Gain on Decedent's Installment Sale Prior Arizona law required acceleration of any unrecognized installment sale gain upon the death of a taxpayer. However, this acceleration could have been avoided by the posting...

Massachusetts Additions to Income

or Schedule X, lines 1 through 3 must be reported in line 4 of Schedule X. Pre-1996 installment sales classified as ordinary income for Massachusetts purposes (from Massachusetts Schedule D, line 10) are taxed as 5.3% income and must...

Massachusetts Schedule B

or losses Carryover short-term losses from prior years Long-term gains on collectibles and pre-1996 installment sales classified as capital gain income for Massachusetts purposes Gains or losses from the sale, exchange or involuntary...

South Carolina Subtractions from Income

gain for the taxable year over the net short-term capital loss for such year. Income received from installment sales as well as capital gain distribution qualifies for this deduction provided the more than one year holding period has been...