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On your income tax there is what's called the standard deduction. I think its currently a little under $6000 for singles. Everyone gets to subtract this from their income. However, if your interest on your home mortgage plus your state taxes add up to more then $6000 then you should put them on Schedule A (called itemizing) and you will be able to subtract more then the standard deduction. If you are married & filling jointly then the standard deduction is a little under $11000 and your mortgage interest + state taxes would have to be more then this to get anymore deducted from your income.
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Can you claim a grandparent as dependent on taxes?
You can claim them if you provided for the person the year you want to claim him or her.
Can you claim auto loan on your taxes?
yes
How does a person receive the first time buyer tax credit 2010 if they have already filed their taxes?
If you have already filed your taxes, you can file an amended return to claim the credit. This process takes around 12 weeks to finalize. You must also have lived in the house you are filing for, for about three years.
Can you claim mortgage interest on income taxes on your NY home and live in Florida?
On your federal income taxes, you are allowed to claim a mortgage interest deduction for your principal residence and one other residence of your choice. It does not have to be in the same state. In addition, you are allowed to claim the interest on all rental or business properties.
Can you buy a house and pay off all the taxes?
You can buy a house and pay the taxes for that year, but not for life of the house. The taxes change each year due to local tax bonds that are passed to pay for things like schools and other items the city may need.
Can 2 people claim the same house on taxes?
no
Can you buy a house and someone else claim it on their taxes?
no
Can 2 people claim a house on taxes?
Yes
Do you pay taxes on house insurance claim?
income taxes ? no insurance payments are exempt
If your daughter lives in your house for two years rent free and you have paid the insurance and taxes does she have the right to claim the house?
If your name is on the deed, it is your house. A judge's decision should go in your favour if you have paid the insurance and taxes because she has no real claim to owning the property.
My girlfriend lives with me in my house and doesn't have an income and I supprt her!! Can I claim her for my taxes as a dependent?
No, sorry. You can only claim someone related to you as a dependent.
Can you claim street clothes on your taxes?
can you claim street clothes on you taxes
Can your boyfriend claim yourself and your children on taxes if he lived in your house all year?
only if he is married or his name shows up on bills for the house.
How do you claim rebate on house insulation?
It`s not a rebate, it is a tax credit. So you have to wait until you file your taxes.
Claim my child's school lunch on my taxes?
My child has to pay for lunch can I claim that on my taxes?
Do you have to pay taxes on a cancer insurance claim?
In the USA you do not pay taxes on the Proceeds from an Insurance Claim.
How much claim your adult sister taxes?
Unless you totally support her and she is your dependent you can't claim her on your taxes.
