Federal Taxes

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How Much Can Be Claimed When Claiming a Stock Market Loss on Taxes?

Most investors suffer stock market losses from time to time. Knowing how the Internal Revenue Service treats the deductions can help you decide when to bite the bullet and sell your losing stocks to maximize the tax breaks. The losses that you can claim depend on the amount of ...

How to Report the Rollover of a 401(k) to a Traditional IRA on a 1040

Whether you're looking for new investment options or just want to consolidate your retirement assets, you can move your 401(k) money to a traditional individual retirement account tax-free with a rollover. Although you won't owe taxes on the rollover, if you don't report the ...

How Much Can I Claim on My Taxes for a Charitable Donation Without Evidence?

Giving to a charitable organization has two benefits. First, it helps that group provide services to needy individuals. Second, it can provide a nice deduction from your taxable income. Like everything else associated with income taxes, the Internal Revenue Service has strict ...

What Is the Cap for Paying Social Security Taxes for a Joint Return?

Unlike income taxes, the amount you owe in Social Security taxes is unaffected by the size of your family or by your tax filing status. Your Social Security tax obligation depends on only one thing: how much income you make. For couples filing joint tax returns, the amount they ...

Information on Tax Form 1099-A

If your house or other property was foreclosed or repossessed by the mortgage holder or lender, you'll get a Form 1099-A. The IRS requires this from lenders to report acquisition or abandonment of secured property. It is simply to notify the IRS the property was foreclosed or ...

How to Claim Gaming Wins and Losses on a Tax Return

If you had a successful night at the slots or poker tables, you're going to have to share some of the lucky proceeds with Uncle Sam. The Internal Revenue Service generally requires that you report your gambling winnings and losses separately when you file your taxes rather than ...

Where Can I Write off My Startup Investment Costs?

When starting a new business, you may initially have to make a cash investment to cover various types of startup costs -- the expenses incurred before you open for business. You can write off this initial investment on the same tax return where you report the business's ...

How to Complete Federal Gift Tax Form Number 709

When you give money or other valuable items to anyone who is not a qualifying charity, you must report the gift to the Internal Revenue Service. Generally, as of the 2012 tax year, the donor is responsible for paying tax if the value of the gift exceeds $13,000. Because gift tax ...

Can a Short-Term Capital Loss Be a Tax Write-Off Against Ordinary Gains?

Not every investment goes the way you hoped, but you can take solace in the fact that the Internal Revenue Service lets you use your capital losses to offset your capital gains. In some cases, you can even use your losses to offset some of your ordinary income for the year.

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