Sentences with phrase «regular tax purposes using»

Not exact matches

«If you use the money for purposes other than education, you are taxed regular income taxes on any gains plus a 10 % penalty,» notes Benedict.

For example, you may have to use a less favorable depreciation schedule for AMT purposes than you use for the regular tax.

Using the IRS definition: You may have to pay the AMT if your taxable income for regular tax purposes plus any adjustments and preference items that apply to you are more than the AMT exemption amount.

Suggestion: If the adjustment is from a rental property, consider using slower depreciation methods for regular tax purposes to eliminate an entry on this line.

Proceeds of these bonds can be used for the most of the same purposes as proceeds of regular tax - exempt government bonds.