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Yes, if you make more money selling the business than you spent buying
and starting the new one. You do have to show paperwork on both
the buying and selling.
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∙ 16y ago
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Does selling old furniture count as income and do you have to pay income taxes on it?
yes
How much does your gross have to be to get the child's tax credit and does your business count as gross income?
YES! dummy
Does selling a boat count as income and do you have to pay income tax on that?
That depends on what you do for a living. If you sellf the boats for a true living then yes you have to pay income tax. But that's also because of the salary you make. AKA your paycheck.
Does land purchase count on net income?
For federal income tax purposes, some sellers/buyers ("broker/dealers") report purchases and sales of real estate as ordinary income, not capital gains. The theory is that you're not "just" an investor; your ordinary business is buying and selling real estate like any other commodity. Builders fall into that category in particular.
Does rental income count against ss income limits?
does rental income count against ss income limits
Does selling a vehicle you were given as a result of the death of a family member count as income that you must pay taxes on?
Yes this is very possible because it is the sale of a capital asset.
Does Social Security disability income count as income for medicaid?
Social Security benefits (retirement and disability) count as income for Medicaid. However, Supplemental Security Income (SSI) does not count as income for Medicaid.
Do loans count as income for tax purposes?
No, only that money which you earn or interest from investments count as income and it is only income that is taxed, not money that you borrow.
Is your income tax return qualify as income?
In the U.S., your federal income tax refund does not count as taxable income for the next year. If you receive a refund from your state, and you itemized your deductions on the federal return, then the state refund will count as income on your federal return. (If you didn't itemize, then your state refund won't count as income.)
Does Medicaid count a credit card as income if you are in a nursing home?
No it is not income.
In harvest moon cute does selling to van count as shipping items?
No. It does not count.
Do deposits count as income?
no Yes.
