The home was repossessed in 2005, the FMV and principal balance were both 133,252. The adjusted basis in the property was 114,000. It was a main home for 7 years. Is there a capital gain to be reported on schedule D?
I had a car that was financed through HSBC repossessed last year. It was repossessed. Can HSBC take my federal income tax refund for this repossession?
Legally, YES.
No federal sales tax is imposed on home sales at this time. If you sell your home and have a long term capital gain it would be possible that you would have some federal income tax to pay on the sale of your home or house or other business property.
On my pay stub there is a USS tax and no federal tax? Is USS federal tax?
A church has to Pay State Tax.
Yes...all State citizens pay US federal tax...no exceptions.
1030.35
I made 40000 and have 4 depentance,how much federal tax do I pay?
None
115.99
111.41
113.64