Start For Free

Fast, Secure, and Always Accurate!
Help Categories

Articles
What types of loans DO NOT qualify for the student loan interest deduction?

You cannot deduct student loan interest if the loan was from one of the following sources. Loans from these sources are not qualified student loans. A related person. A qualified employer plan. Related Person: You cannot deduct interest...

Investment Interest Expense

not materially participate (other than a passive activity). Interest that CANNOT be deducted Investment interest expense does not include any of the following: Home mortgage interest Interest expense that is properly allocable to a...

What is "investment interest"?

Investment interest is interest that was paid on money that you borrowed to buy property that is held for investment. If you paid this type of interest, you may be eligible for a deduction. Examples of this type of interest include...

Section 179 Deduction Limitations

Taking the Section 179 election allows the taxpayer to elect to deduct the total cost of the property purchased in lieu of depreciating the property over the life value. Your section 179 deduction is generally the cost of the qualifying...

What CANNOT be included as an investment interest expense?

Investment interest expense does not include any of the following: Home mortgage interest Interest expense that is properly allocable to a passive activity. Generally, a passive activity is any trade or business activity in which you do...

Interest You Paid - What to do when Interest is NOT Reported on Form 1098

If you did not receive a Form 1098 from the recipient ( bank, mortgage lender, individual, etc .) of the mortgage interest that you paid, contact that recipient to determine if you will be receiving a 1098 for this interest. In most cases...

Indiana Homeowner's Residential Property Tax Deduction

You may be able to take a deduction of up to $2,500 of the Indiana property taxes (residential real estate taxes) paid on your principal place of residence. Your principal place of residence is the place where you have your true, fixed...

Interest You Paid - How do I enter Points NOT Reported on 1098?

If you did not receive a Form 1098 from the recipient (bank, mortgage lender, individual, etc) of the points that you paid, contact that recipient to determine if you will be receiving a 1098 for this. In most cases, home mortgage interest...

Form 1098-E: What do I do with my Student Loan Interest Statement?

Myself > Adjustments > Student Loan Interest Deduction....

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

If you need to report a qualifying expense for which there is no specific entry field, you can add these within the Miscellaneous Deductions entry page. Any deduction that you specifically add as an additional Miscellaneous Deduction......