The most common uses of the 1099-G is to report unemployment compensation, as well as any state or local income tax refunds you received that year.
Regardless of how much interest you paid, the maximum you can deduct is $2,500. If you're eligible to deduct student loan interest, your deductible amount goes on Schedule 1 as an adjustment to income. Your 1098-E forms will provide the amounts reported but you can also add...
As a small business, how do I pass on my incidental expenses to my customer? Byeveretra— On Jun 02, 2011 @MrSmirnov - Yes, incidental expenses are important because some of these business expenses can be deducted. Businesses are looking for every expense they can legally deduct, so keepin...
Questions this book helps answer: What's a Schedule C? Sole Proprietorship? Self-Employment Tax? What kind of expenses can I deduct from my business of writing and publishing books? Is this a hobby or a business? What's a 1099-MISC? And more... ...
Explains the difference between deductible and non-deductible investment-related expenses in the U.S. Overview of deductible investment-related items, including software to manage investments; Items included in non-deductible items, including travel costs; Other situations wherein investment interest ...
Even though the travel expenses my husband deducts are allowed, this is still an area that can throw up a red flag to the IRS. I imagine any miscellaneous expenses would be watched very closely as well. Byjulies— On May 15, 2012 ...
What expenses can't landlords claim for? What about property maintenance, repairs and improvements? Can landlords claim Replacement Domestic Items relief? What is a legitimate landlord expense? For an expense to be allowable, so that you can legitimately deduct it from your rental income as a lan...
Even though the travel expenses my husband deducts are allowed, this is still an area that can throw up a red flag to the IRS. I imagine any miscellaneous expenses would be watched very closely as well. Byjulies— On May 15, 2012 ...
If you qualify for the Foreign Tax Credit, you can claim it by filing IRS Form 1116. 3. Foreign Housing Exclusion TheForeign Housing Exclusionallows self-employed expats to deduct housing-related expenses from their US tax bill. This exclusion is only available if you also claim the Foreign ...
Workers who incur job-related expenses can deduct expenses only if they are an armed forces reservist, a qualified performing artist, a state or local government official working on a fee basis, or an employee with impairment-related work expenses. Workers who fall into these categories and claim...