deduction

  1. G

    If the mortgage interest deduction goes away, is there an easy loophole?

    The loophole would be to create a company that owns the house, then rent the house from the company. The company would be able to deduct the interest on the house. Or own your neighbor's house and they own your house. Rent your house from your neighbor and rent your neighbor's house to them.
  2. A

    can i take the student loan interest deduction if I haven't paid it yet?

    I am in college and I know that my annual year income is less than the amount it needs to be to take the deduction but what I don't know is if I can take the deduction if I haven't started paying it back yet. On the tax notification form 1098-t the amount appears in box 2 (amounts billed for...
  3. D

    Mortgage Interest Deduction during Divorce?

    I paid mortgage for whole 2010 from my Bank Account, My Soon to be ex (Divorce in progress) didn't pay even once. We decided to file married filing separate. She applied for 100% deduction for the mortgage Interest, She did efile. I didn't file my taxes yet. I am looking for suggestion how to...
  4. C

    1) Individuals who own homes may take a tax deduction for interest paid.

    Many individuals believe that this ta? 1) Individuals who own homes may take a tax deduction for interest paid. Many individuals believe that this tax law discriminates against individuals who rent. Do you think this deduction discriminatory? Explain 2) Oprah Winfrey frequently gives gifts to...
  5. T

    Where can I find information on the debt panel and the mortgage interest deduction?

    Is it for home mortgages over 500K only that it's being taken away.? In the news on tv - they don't mention this 500K amount - time after time. Is it only for mortgages over 500K? Or did I just get a couple of bad websites? The reason I ask, very few of the extremely wealthy carry heavy...
  6. R

    Need small clarification on Incometax Deduction at source on Senior Citizen...

    ...Saving Scheme-04 interest payment? Sir this is SuryaChandra Rao (Senior citizen-62years) It is learnt that under Post office SCSS-04 Scheme No tax deduction at source is to be made up to Rs 10,000/- interest paid in a year as per latest orders. If the interest earnings are above Rs 10,000/-...
  7. Y

    Small Bus. Tax Deduction - Discount Coupons & Sales?

    If you own a retail business, and you offer your customers $5.00 discount coupons or a % off discount sale, do you apply each $5 discount or % discount transaction as a sales/distribution tax deduction? If so, is there a limit to the dollar amount or a limit to amount of transactions? I'm having...
  8. N

    TurboTax, I show $5950 standard deduction in my 2008 return. Do I have

    to pay it back to IRS in future?Thanks.? Bought 2 homes in Georgia in 2008, paid property taxes of around $5000. At TurboTax I show $5950 standard deduction in my 2008 return. Do I have to pay it back to IRS in future if I take the standard deduction? Thanks.
  9. B

    Can I claim internet as a tax deduction?

    I take online classes, can I claim internet or part of my internet as a tax deduction for school? I don't think so, but it is worth a shot!
    • BraninAK
    • Thread
    • claim deduction internet tax
    • Replies: 0
    • Forum: Internet
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