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Alternative Minimum Tax (Form 6251)

an incentive stock option and you did not dispose of the stock in the same year Tax exempt interest from private activity bonds Intangible drilling, circulation, research, experimental or mining costs Amortization of pollution-control...

Mississippi Income Subject to Tax

Interest Income Enter interest received or credited to your account during the tax year on bank deposits, notes, mortgages and corporation bonds. Interest on bonds is considered income when received or credited. Interest income from...

What are Examples of NonPassive Entities?

NonPassive Entities include: Trade or business in which you materially participated for the tax year. A working interest in an oil or gas well which you hold directly or through an entity that does not limit your liability...

Arizona Itemized Deductions

expenses Adjustments to interest paid on a mortgage Deductions allowed as federal itemized deductions but not subject to Arizona tax For assistance with determining if adjustments need to be made to your Arizona Itemized Deductions, please...

New York Additions to Income

The following information is pulled from the Instructions for Form IT-201 . Interest Income on State and Local Bonds and Obligations Enter interest income from state and local bonds and obligations from states other than New York State...

Louisiana Additions to Income

There are two entry lines for you to add Additions to Income for the state return. This information is reported on the LA Schedule E- Adjustments to Income. Interest/Dividend Income from Other States – Reported on Line 2 of Schedule E Tax...

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...

How do I report the Sale of Timber?

When you are involved in Timber Sales you generally receive a 1099-S. Though this form is most often associated with the Sale of a Main Home, it is also used to report an ownership interest / contractual interest in a sale or exchange...

Utah Retirement Tax Credit

of 2013, may be allowed a retirement credit of up to $450. This credit is limited by the total of your modified adjusted gross income, nontaxable interest income, and any additions reported on TC-40A, Part 1. B. Taxpayers under Age 65 who...

Form 982: What is a "discharge of qualified principal residence indebtedness"?

rule: If only a part of a loan is qualified principal residence indebtedness, the exclusion applies only to the extent that the amount discharged exceeds the amount of the loan ( immediately before the discharge ) that is not qualified...