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If you are a individual taxpayer and you sell your household items at more than they cost you and you make a profit on them then you would have some income that you would have to report on your 1040 income tax return.
If you are in the business of selling household belongings then you are a self employed taxpayer and will have to use the schedule C of the 1040 income tax return to report your gross sale and expenses from your business operation.
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Do I have to claim SSI as household income?
Yes it is an income so it is reportable if you have enough other income in the household to require filing income tax returns. For instance, if a married couple files their taxes as a joint return, with one who works and the other who receives Social Security disability income reported on Form SSA-1099. In this case both the Social Security and the W-2 income will be reported on one of the 1040 tax returns.
Can you claim single head of household if you care for someone who does not qualify as your dependent?
No, you cannot claim single head of household unless someone you claim as a dependent lives in your home.
Do you have to own a home to claim head of household?
No
Can you claim head of household if your dependent brother made over 7000.00?
If the "dependent" brother is under 19 and is not a full time student then you can not claim him as a dependent and you can not claim Head of Household status. How old is this brother?
Can a widow claim head of household?
Yes if she has dependents.
How do you claim head of household?
Head of household is a status filing for U.S. federal income taxes. If you are entitled to claim head of household and wish to do so, you simply include it on your 1040 or other tax filing.
Can i claim both my sister and her daughter even if she received food stamps-?
You can only claim your sister and her daughter on your taxes if you supported them and they lived in your household. Benefits have to be added to the return as income to the household.
Do you pay taxes on money collected from a household insurance claim?
No, Hazard Loss compensation is not considered taxable income.
Can you and your adult child both claim head of household?
No whoever qualifies along with the higher income can claim that credit. There can only be 1 head of houshold per home....
What can a grandparent claimfor a child 15 who does not live with her and mother does not claim income tax disabled. father does not work disabled?
If she doesn't live in your household, nothing. If she lives with you, you can probably claim her as a dependant.
Do I have to claim SSI as household income?
Yes it is an income so it is reportable if you have enough other income in the household to require filing income tax returns. For instance, if a married couple files their taxes as a joint return, with one who works and the other who receives Social Security disability income reported on Form SSA-1099. In this case both the Social Security and the W-2 income will be reported on one of the 1040 tax returns.
Can the former owner come back to get his belongings after a foreclosure?
Can former owner claim his belongings after foreclosure and the property transfered to new owner,
You made 900 selling furs from your trapping this year while you have to claim that income?
Any income made in a calendar year should be reported as income when doing taxes. This can be determined by an accountant or tax preparer as to how to proceed with reporting and the dollar amount.
Do you have to claim the sale of a vehicle as income?
Normally you never make a profit on a car you buy and sell years later. Depreation will take care of that. However if you are buying and selling cars for profit, then yes the net profit is considered earned income. Not the selling price but the net profit.
Can you claim single head of household if you care for someone who does not qualify as your dependent?
No, you cannot claim single head of household unless someone you claim as a dependent lives in your home.
Is selling your motorcycle considered taxable income?
If you sold it for more than you paid for it, the difference is a capital gain and taxable. (If you are in the business of selling motorcycles, it is an ordinary gain.) If the motorcycle was for personal use, you cannot claim a capital loss.
Do you have to own a home to claim head of household?
No
