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Wisconsin Addition or Subtraction From Income - Differences in Federal and Wisconsin Basis of Partnership Interest

An addition or subtraction may be necessary if you sold your interest in a partnership and any increases or decreases were made to the federal basis of your partnership interest in taxable years prior to 1975, which resulted from...

What is a 1098-E?

Form 1098-E reports the student loan interest you have paid throughout the tax year. To see an example of this form please click the link provided below. 1098-E Example

Delaware Additions to Income

the Mutual Fund reports that amount to you.) Examples of INTEREST THAT IS NOT EXEMPT: Federal National Mortgage Association (Fannie Maes); Federal Home Loan Mortgage Corp.; Government National Mortgage Association (Ginnie Maes); International Bank...

Please explain deductions and credits that are available related to Education.

are that you are paying interest. If so, you can generally use this interest as an additional deduction on your return. You can claim the interest deduction if all of the following apply: You paid interest on qualified student loan in...

What are "qualifying education expenses"?

For purposes of the student loan interest deduction , these expenses are the total costs of attending an eligible educational institution, including graduate school. They include amounts paid for the following items. Tuition and fees. Room...

Please explain all of the credits and deductions that are available related to retirement and investment.

for investment. If you paid this type of interest, you may be eligible for a deduction. Examples of this type of interest include: Interest that you paid on securities in a margin account Interest you paid on a loan that you took out...

Tax Benefits for Education

gross income limits are higher than the thresholds for the American Opportunity Tax and Lifetime Learning Credits. Are you paying Student Loan interest ? You may be able to deduct up to $2,500 from your income per tax return. Student Loan...

What do I do with this tax form I received?

Mortgage Interest Form W-2 Wages and Earnings 1099-C Cancellation of Debt 1098-E Student Loan Interest Statement Form W-2G Gambling Winnings/Losses 1099-DIV Dividends and Distributions 1098-T Tuition and Fees Schedule K-1 (Form 1041...

What does All Investment At Risk mean?

property (other than property used in the activity) as security for the loan. *Amounts Borrowed . You are At-Risk for amounts borrowed to use in the activity if you are personally liable for repayment. You are also at risk if the amounts...

Tax Documents Needed To Prepare Your Return

This document will usually be from your mortgage company and will contain additional information regarding your home loan, escrow for real estate taxes and property insurance. To see a Sample 1098 Click here Form 1098-E - The interest on an educational...