Is there a standard amount to deduct from the rent paid on a room when the house is being sold and the renter must make many accommodations such as being out of the house at specific times?
There are no "standard" deductions, but that doesn't mean you aren't owed some sort of consideration. What are the terms of your lease? Does it say you have to be out of the place during showings? If not, you may have some leverage to get a rent reduction for your inconvenience.
On US income taxes, you are allowed to deduct charitable donations if you itemize deductions. There's a specific line on Schedule A for this that's pretty clearly labelled. If you don't itemize, you aren't allowed to deduct charitable donations. You are never allowed to deduct "giving money" in general... it has to be to a legitimately recognized charitable organization. Giving money to a specific person is not deductible; giving money earmarked for a specific person…
Bought Home in Jun 2007 Paid Property tax for 2007 4000 in 2008 and 4000 for 2008 in 2008 Do you Deduct 8000 ie full 07 and full 08 or 6000 ie for half 07 and full 08?
No. You will have to use the 1040 tax form along with schedule L of the 1040 tax form for this purpose if you would like to increase your standard deduction amount and decrease your federal income tax liability by using the limited amount of any property (real estate taxes) taxes that you paid during the previous tax year.
You filed taxes and under unreimbursed medical expenses put the amount of your bill instead of what you paid the difference is 5000 compared to 500 where on the 1040X can you change this error?
When you file an amended return, just put in the correct numbers rather than trying to explain on the form. If you want to explain, include a letter when you send in the amended return. You deduction is limited to the amount billed or the amount paid by you. You cannot deduct any amount that you did not personally pay and cannot deduct any amount paid or reimbursed by insurance.
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…
Can you deduct real estate taxes paid on behalf of another person if you do not own the property in question?
Yes, you can deduct them either as an itemized deduction if you are filing a personal return, or if you are treating it as a business you can deduct them as an itemized deduction. The problem is that's not very fun because most people typically take the standard deduction. Maybe you were considering offering business advice, and as such the subscriptions are an expense. So, you could deduct them on a Schedule C. Generally I…
Can employers deduct every mile reimbursed to employees for an employee's business use of personal vehicle?
Sure...as long as the reimbursement is done within the amounts and documentation requirements (which of course can be complex, especially if it requires maintaining a "qualified plan"), and specific, the amount reimbursed is deductible to the employer AND not reportable as payroll or income by the employee.
They can deduct their expenses for uniforms, transportation, cleaners, boats and coats. They can also deduct their expenses they did during travels seeing patients for help provided. They can also deduct small tools they bought for their services and they can deduct meals and entertainment for work related. They can deduct mileage travels during work.
No, you can only deduct gambling loses up to the amount of winnings in the year you win. You cannot deduct gambling loses without having winnings, unless you are a professional gambler and that is your only form of income, then you need to have very accurate, detailed information on your wins and loses.
You may deduct gambling losses only if you itemize deductions. Claim your gambling losses as a miscellaneous deduction that is not subject to the 2% limit on Form 1040, Schedule A. However, the amount of losses you deduct may not be more than the amount of gambling income reported on your return. It is important to keep an accurate diary or similar record of your gambling winnings and losses. To deduct your losses, you must…