Sentences with phrase «reported on your federal income tax return»

This can include itemized deductions which are eligible expenses that an individual taxpayer may report on their Federal income tax return.

Your or your family's wages, salaries, interest, dividends, etc., minus certain deductions from income as reported on a federal income tax return.

Adjusted Gross Family Income: The sum of your family's wages, salary, interest, dividends, etc., minus certain deductions from income as reported on federal income tax return.

You or your family's wages, salaries, interest, dividends, etc., minus certain deductions from income as reported on a federal income tax return.

Your or your family's wages, salaries, interest, dividends, etc., minus certain deductions from income as reported on a federal income tax return.

Generally, for federal income tax purposes, life insurance proceeds due to the death of the insured are not taxable and don't even have to be reported on a federal income tax return.

Not exact matches

Under previous tax law, most people could deduct the amount of taxes they'd paid on property, sales or income from the adjusted income they reported on their federal tax returns.

interest from municipal bonds as well as distributions from mutual funds that qualify as exempt interest dividends; this income is generally not subject to regular federal income taxes; note that Fidelity reports this information to the IRS, and may be required to report the information to tax authorities in California among other states; the total amount or a portion of tax - exempt income (reported as specified private activity bond interest) must be taken into account when computing the federal Alternative Minimum Tax (AMT) applicable to individuals and may be subject to state and local taxes; you are required to report tax - exempt income on Form 1040, and may be required to report it on your state tax return as wtax authorities in California among other states; the total amount or a portion of tax - exempt income (reported as specified private activity bond interest) must be taken into account when computing the federal Alternative Minimum Tax (AMT) applicable to individuals and may be subject to state and local taxes; you are required to report tax - exempt income on Form 1040, and may be required to report it on your state tax return as wtax - exempt income (reported as specified private activity bond interest) must be taken into account when computing the federal Alternative Minimum Tax (AMT) applicable to individuals and may be subject to state and local taxes; you are required to report tax - exempt income on Form 1040, and may be required to report it on your state tax return as wTax (AMT) applicable to individuals and may be subject to state and local taxes; you are required to report tax - exempt income on Form 1040, and may be required to report it on your state tax return as wtax - exempt income on Form 1040, and may be required to report it on your state tax return as wtax return as well

If you haven't filed a federal income tax return in the past two years, or if your current income is significantly different from the income reported on your most recent federal income tax return (for example, if you lost your job or have experienced a drop in income), alternative documentation of your income will be used to determine your eligibility and calculate your monthly payment amount.

Under House Bill 2014, introduced by Representative Mark Finchem (R - Tucson), Arizona taxpayers will simply back out all precious metals «gains» and «losses» reported on their federal tax returns from the calculation of their Arizona adjusted gross income (AGI).

... The tax allegation involved claims that he failed to report as income on his federal tax return the rental income from a time - share unit (not a «posh» villa as often depicted) he owned in the Dominican Republican which was used to offset his mortgage payments.

A federal court on Monday convicted the son of New York State Senate Deputy Majority Leader Tom Libous, R - Binghamton, on charges that he under - reported his income on federal tax returns.

Leibell, R - Carmel — who pleaded guilty in December to obstructing a federal grand jury that was investigating whether he extorted cash payments from lawyers working in Putnam County and failed to report on his income tax returns tens of thousands of dollars in cash payments he received from those lawyers — was to be sentenced in federal court in White Plains this coming Monday.

If spouses are filing separate federal tax returns, each spouse will report one - half of the total compensation income and one - half of the withholding on that compensation income.

Notwithstanding the exemption from taxes for interest on municipal bonds, taxpayers are still required to report such interest on their federal income tax returns pursuant to section 6012 (d) of the Code.

Although you'll still file as a single individual, you and your partner or spouse will each report half the community income on each of your federal income tax returns.

In a nutshell, it's your adjusted gross income (AGI,) as reported on your most recent tax return, minus 150 % of the U.S. Federal Poverty Guidelines.

Of course, even if your lender doesn't send a 1099 - C to you, you still have to report any settled debt on your tax return under the designation «Other Income» on Federal Tax Form 10tax return under the designation «Other Income» on Federal Tax Form 10Tax Form 1040.

interest from municipal bonds as well as distributions from mutual funds that qualify as exempt interest dividends; this income is generally not subject to regular federal income taxes; note that Fidelity reports this information to the IRS, and may be required to report the information to tax authorities in California among other states; the total amount or a portion of tax - exempt income (reported as specified private activity bond interest) must be taken into account when computing the federal Alternative Minimum Tax (AMT) applicable to individuals and may be subject to state and local taxes; you are required to report tax - exempt income on Form 1040, and may be required to report it on your state tax return as wtax authorities in California among other states; the total amount or a portion of tax - exempt income (reported as specified private activity bond interest) must be taken into account when computing the federal Alternative Minimum Tax (AMT) applicable to individuals and may be subject to state and local taxes; you are required to report tax - exempt income on Form 1040, and may be required to report it on your state tax return as wtax - exempt income (reported as specified private activity bond interest) must be taken into account when computing the federal Alternative Minimum Tax (AMT) applicable to individuals and may be subject to state and local taxes; you are required to report tax - exempt income on Form 1040, and may be required to report it on your state tax return as wTax (AMT) applicable to individuals and may be subject to state and local taxes; you are required to report tax - exempt income on Form 1040, and may be required to report it on your state tax return as wtax - exempt income on Form 1040, and may be required to report it on your state tax return as wtax return as well

Form 8958 essentially reconciles the difference between what employers (and other income sources) have reported to the IRS and what the spouses will be reporting on their federal tax returns.

A taxpayer whose federal student loan is discharged under the closed school discharge process does not need to report the amount of the discharged loan in gross income on a federal income tax return.

Angie and Alice will each report $ 8,000 of unemployment income and $ 800 of associated federal withholding on their federal tax returns.

Although this portion is not subject to federal tax, it still must be reported on line 8b («Tax - exempt interest») of Form 1040, U.S. Individual Income Tax Retutax, it still must be reported on line 8b («Tax - exempt interest») of Form 1040, U.S. Individual Income Tax RetuTax - exempt interest») of Form 1040, U.S. Individual Income Tax RetuTax Return.

If you haven't filed a federal income tax return in the past two years, or if your current income is significantly different from the income reported on your most recent federal income tax return (for example, if you lost your job or have experienced a drop in income), alternative documentation of your income will be used to determine your eligibility and calculate your monthly payment amount.

Notably, the White House administration has delayed implementation of the income verification rules, leaving income verification for now on the «honor system» (with random checks of a statistically significant sample to verify compliance), but raising concern from many that there may be a higher incidence of fraudulent income reporting to qualify for the subsidy in the coming year (though ultimately, inappropriately reported amounts could still be recaptured by the Federal government when the subsequent tax return is filed later, as discussed below, limiting the potential scope of any fraud).

Therefore, you may be required to report the refund or credit as income on your federal income tax return for the current tax year.

This income retains the same character as it had in the partnership, and should be reported on each investor's federal tax return.

All distributions of taxable net investment income and net capital gain, whether received in shares or in cash, must be reported by each taxable shareholder on his or her federal income tax return.

Whether you are reporting interest at the end of the bond's life or every year, you report the interest from your bonds on your federal income tax return on the same line with other interest income.

You must report payments you collected for backup withholding, on Form 945, Annual Return of Withheld Federal Income Tax.

See instructions in IRS Publication 550 on how to report interest in this situation on your federal income tax return.

In the year of disposition the adjustment will be a subtraction for gain attributable to installment payments to be made in future taxable years provided that (i) the gain arises from an installment sale for which federal law does not permit the dealer to elect installment reporting of income, and (ii) the dealer elects installment treatment of the income for Virginia purposes on or before the due date prescribed by law for filing the taxpayer's income tax return.

Under the income - driven plans, monthly payments are determined based on adjusted gross income (AGI) as reported on your federal tax return and the federal poverty rate that corresponds to your family size.

This means the LLC's income and expenses are reported on the Schedule C of the federal income tax return.

For example, if you earn wages, are self - employed, or receive interest or dividends, you'll have to report income on your tax return; depending on the income amount, you may need to pay federal taxes of up to 85 % on your Social Security benefits.

Multiple tax returns aren't the only IRS - related problem victims of ID theft may encounter; according to the Federal Trade Commission, another warning sign is if the IRS questions reported income on your tax return from an employer you don't work for.

Evading taxes can cost you big in the long run, so better to play it safe and properly report your mining income on your federal tax return this year.

If a taxpayer files a federal income tax return and reports a transaction as an exchange under Section 1031, based on the expectation that a dwelling unit will meet the qualifying use standards in section 4.02 (2) of this revenue procedure for replacement property, and subsequently determines that the dwelling unit does not meet the qualifying use standards, the taxpayer, if necessary, should file an amended return and not report the transaction as an exchange under Section 1031.