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Is casino winnings also a deductible item in ca income tax return?
Wiki User
∙ 10y ago
No.
Wiki User
∙ 10y ago
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Is spousal support tax deductible?
Spousal support payments would not be deductible on your income tax return. Only Alimony payments would be deductible on your 1040 income tax return.
Can I deduct monies paid to settle a lawsuit?
Not deductible on your income tax return unless the amount paid was to produce taxable income that was reported on your income tax return. Then a limited amount could be deductible on your income tax return.
Are income tax payments deductible?
State income tax payments are deductible on your federal income tax return. (You may deduct state income tax or sales tax, but not both.) Federal income tax payments are deductible on your state tax return in a tiny number of states.
Is pet insurance tax deductible in Arizona?
Not deductible on your federal income tax return.
Is rent expense deductible with the IRS?
No. Personal expenses are not deductible on your 1040 income tax return.
Is funeral expenses tax deductible?
NO. Funeral expenses are NOT deductible on the individual 1040 income tax return.
What is the tax amount owed on 5400.00 won at a Oklahoma Indian Casino?
Gambling winnings are ordinary income. You will pay taxes at whatever rate is determined by your total taxable income, after all deductions and credits, etc. If you can itemize, gambling losses are 100% deductible up to the amount of winnings. Don't forget those lotto tickets.The only way to recover the amount withheld, which is just an estimate to protect and assure the Gov't you report and pay, is to file your return and show the amount paid in as a pre-payment.
Are state income tax payments deductible on a corporate tax return?
Yes. State income (and net worth based) taxes are deductible from taxable income for Federal income tax purposes.
At what age do they not take tax's from lottery winnings?
Any age when you meet the requirement of must file a income tax return. A dependent on another individuals income tax return would be required to file a federal income tax return and pay some federal income tax if unearned income gambling winnings, interest, rent. capital gains, etc of 950 or more of income reported on the 1040 income tax return.
Is federal tax on gasoline deductible on a 2008 federal tax return?
No. Not any year. And Federal Tax, even income tax, is not deductible on a return.
Are Association Fees Tax Deductible?
Homeowner association fees are NOT deductible on the individual taxpayers 1040 income tax return.
Will winning the lottery effect your Social Security benefits?
Lottery winnings will NOT count as a part of your earned income for the earnings test amount because the winning amount from the lottery is NOT earned income. Yes the amount of the lottery winnings will affect how much of your social security benefits will become taxable income on your 1040 income tax return. Depending on the total amount of all of your other gross income including the lottery winnings from 50 % to 85 % of your SSB can become taxable income on your federal income tax return at your marginal tax rate.
