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Alimony payments are deductible as an above-the-line deduction on your Federal income taxes. They are reported on Line 31a of Form 1040 for 2010.
Note that Line 31a also requires you to report the Social Security Number of the person you paid alimony to, because it will be considered taxable income for them.
It's important to point out that child support payments are NOT deductible. So, if you are making monthly court-ordered payments that include both alimony and child support, you can only deduct the portion of those payments that are considered alimony. Usually the court order will specify these amounts.
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How many years can you deduct state income payments from your federal taxes?
20
Can you deduct the amount you pay your tax account?
I am not sure what you mean by this or what kind of tax account you may be referring to.On your federal income tax return, you may deduct payments of various types of state and local taxes that are imposed on you within limitations. These include real estate, state and local income taxes, and sales taxes (but not both sales taxes and income taxes). You may not deduct federal incomes taxes. You may not deduct interest or penalties.A few states let you deduct federal income taxes on your state return.
Can you deduct group insurance premiums on taxes?
Depends on how you paid the premiums. If you paid the premiums on a pretax basis, then you cannot declare the premiums. Many COBRA payments, retiree insurance payments and so on can be deducted.
Can I deduct the price of my property rental from my taxes?
If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.
Can i deduct wage garnishment from taxes?
Of course not. Garnishment's are payments for something that was not deductible in the first place. Why would the fact that they have to forcefully take it from you make it tax deductible.
How many years can you deduct state income payments from your federal taxes?
20
Can you pay the tax liens on a property that you are renting?
Yes. If you did you would be considered a volunteer. Paying the taxes wouldn't give you any ownership rights. You might try to arrange to deduct the tax payments from your rent.
Can you deduct the amount you pay your tax account?
I am not sure what you mean by this or what kind of tax account you may be referring to.On your federal income tax return, you may deduct payments of various types of state and local taxes that are imposed on you within limitations. These include real estate, state and local income taxes, and sales taxes (but not both sales taxes and income taxes). You may not deduct federal incomes taxes. You may not deduct interest or penalties.A few states let you deduct federal income taxes on your state return.
Do you have to claim short-term disability check if taxes weren't taken out?
This is not declared income and you will not have to pay income taxes on it. Same thing for child support. However, Alimony payments have to be delclared and will be taxed.
Can you deduct insurance premiums on taxes?
Depends on how you paid the premiums. If you paid the premiums on a pretax basis, then you cannot declare the premiums. Many COBRA payments, retiree insurance payments and so on can be deducted.
Can you deduct group insurance premiums on taxes?
Depends on how you paid the premiums. If you paid the premiums on a pretax basis, then you cannot declare the premiums. Many COBRA payments, retiree insurance payments and so on can be deducted.
What types of items can one deduct from their taxes?
There are many categories that fall under qualified tax deductions. Child care expenses, mortgage interest, IRA deductions, and alimony are all legal deductions.
Can I deduct the price of my property rental from my taxes?
If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.
Can i deduct wage garnishment from taxes?
Of course not. Garnishment's are payments for something that was not deductible in the first place. Why would the fact that they have to forcefully take it from you make it tax deductible.
Do you have to file taxes if you are on disability and receive alimony?
You will have to file taxes to report the alimony. If you receive a form reporting the disability you will need to file this as well.
Can you deduct payroll taxes?
A individual taxpayer cannot deduct payroll taxes on the individual taxpayers income tax return.
Can you deduct house insurance from your taxes?
No.
