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What else can I help you with?
Can a married couple filing separately choose to itemize deductions for one spouse and take the standard deduction for the other spouse?
Yes, a married couple filing separately can choose to itemize deductions for one spouse and take the standard deduction for the other spouse.
Tell me the truth about interest payment deductions on filing taxes?
If you itemize, you can deduct mortgage interest and investment interest.
Can one spouse itemize deductions while the other spouse takes the standard deduction?
Yes, it is possible for one spouse to itemize deductions while the other spouse takes the standard deduction when filing jointly.
What is the advantage of married filing jointly?
The advantage of married filing jointly is that your tax may be lower than your combined tax for other filing statuses. Another advantage would be your standard deduction, if you do not itemize, my be higher and you qualify for tax benefits that do not apply to married filing separate.
Can you itemize deductions in 2018?
Yes, you can itemize deductions in 2018 when filing your federal income tax return if your total deductible expenses, such as medical expenses, mortgage interest, and charitable contributions, exceed the standard deduction amount set by the IRS.
What is the highest car donation tax write off I can take in a single year?
If you itemize the standard deduction will be $4,850 for single; $9,700 for married filing jointly.
Is it possible to claim your property taxes if making below 10000.00?
Sure. If you itemize you can claim your full property taxes. And this is new for 2008: If you don't itemize, you can claim $500 of property taxes ($1000 if married filing jointly). See the instructions for line 40 of 2008 Form 1040.
What are the main differences between TurboTax Deluxe and Premier 2015, and which version would be best suited for my tax filing needs?
The main differences between TurboTax Deluxe and Premier 2015 are the level of support for investments and rental property. Premier is best suited for those with investments or rental properties, while Deluxe is more suitable for basic tax filing needs without these complexities. Choose Premier if you have investments or rental properties, and Deluxe if you have a simpler tax situation.
If a married couple files taxes separate do they have to file the same?
I don't know what you mean by "file the same." One possible thing you might mean: If your filing status is "married filing separately" and your spouse itemizes deductions, then you must also itemize deductions. (Technically, the rule is that your standard deduction is reduced to $0.)
What are the differences between TurboTax Premier and Deluxe 2015, and which one would be the best option for my tax filing needs?
The main difference between TurboTax Premier and Deluxe 2015 is that Premier is designed for more complex tax situations, such as investments and rental properties, while Deluxe is better suited for basic tax returns. If you have investments or rental properties, Premier would be the best option. If your tax situation is more straightforward, Deluxe should suffice.
How do I know if I can use the 1040ez tax form instead of 1040A?
The 1040EZ are for people under the age of 65, filing either "Single" or "Married Filing Jointly" who are not claiming dependents and earned less than $100,000 in income. If you (and/or your spouse) are blind, plan to itemize your deductions, made more then $1500 in interest, or have any other situations that prevent you from taking the standard deduction, you are not eligible to file using the 1040EZ.
Can you replace SR22 insurance with regular insurance?
It already is Regular Auto Insurance. You just tell your insurance company that you no longer need the sr22 endorsement and they will stop filing it for you.
