Sentences with phrase «state income tax return like»

You can not deduct your mortgage interest on your Massachusetts state income tax return like you can on your federal income tax return.

Not exact matches

That means taxpayers would no longer be able to deduct the amount they pay in state and local taxes — like income or property taxes — from their federal tax return, making it more burdensome for high - tax states to raise money for transit improvements.

The IRS states that «income from virtual currency is reportable on -LSB-...] tax returns,» adding that «Virtual currency transactions are taxable by law just like transactions in any other property».

I have a LLC for my Little Rock homes and pay something like $ 30 a year, but I have to file a state income tax return.

Once the extensions of time have been filed, Investors must complete their tax - deferred like - kind exchange transaction within the 180 calendar days before they actually file their Federal and, if applicable, state income tax returns.

When you fill out your Utah state income tax return you won't be able to itemize deductions (like mortgage interest) or take a standard deduction.