Sentences with phrase «total value of your deductions»

Itemizing deductions is beneficial when the total value of your deductions is more than the standard deduction for your filing status.

Not exact matches

For people whose total annual premiums are below their age - based limit, prepaying a few months» worth of 2018 premiums in advance would let them use more of the full value available to them this year, when they know the federal deduction still exists.

Be aware, however, that beginning in 2018, the total value of all your available deductions would need to be greater than the new, higher standard deductions under the legislation — i.e., $ 24,000 for married couples filing jointly — or you won't benefit from the deduction for charitable giving.

Like most land trusts, Atlantic Coast Conservancy doesn't report the total value of its donors» conservation deductions.

To claim an itemized deduction, write the total value of your donations on Form 1040, Schedule A, Line 17.

In 2017, their total itemized deductions exceeded the value of the standard deduction — $ 22,500 versus $ 12,700 — so they itemized.

Actual value of tax deduction = $ 0 (the total is less than the standard deduction of $ 12,600, so there's no value to these itemized deductions).

Daily Unit Values reflect the deduction of the mortality and expense risk charge, administration charge and total fund operating expenses.

In 2017, their total itemized deductions exceeded the value of the standard deduction — $ 22,500 versus $ 12,700 — so they itemized.

Market value settlement — In the event of a total loss or theft, we pay the market value (actual cash value), which includes a deduction for depreciation.

What this means in aggregate is that households with at least six - figure incomes receive more than four - fifths of the total value of mortgage interest and property - tax deductions.

The benefit gained was the total value of the property or advantage obtained, not the defendant's net profit after deduction of expenses or any amounts payable to coconspirators.

After totaling all assets and debts (on the valuation date), you may claim a deduction for all debts and assets that were brought into the marriage (valued on the date of marriage).

Total Future Income Purchases For individuals who funded the Future Income rider on a variable annuity policy, the total amount of voluntary deductions from the Variable Accumulation Value used to purchase Future Income PaymTotal Future Income Purchases For individuals who funded the Future Income rider on a variable annuity policy, the total amount of voluntary deductions from the Variable Accumulation Value used to purchase Future Income Paymtotal amount of voluntary deductions from the Variable Accumulation Value used to purchase Future Income Payments.

It means, if you have itemized deductions and have medical costs in excess of 7.5 % of your adjusted gross income, you can deduct the total premium value from your federal income taxes.

Market value settlement — In the event of a total loss or theft, we pay the market value (actual cash value), which includes a deduction for depreciation.

In case your term insurance policy is issued on or after April 1, 2012, then tax deduction is applicable only for the total premium amount valued up to 10 % of the maximum sum assured.

If the policy proceeds are not eligible for exemption under Section 10 (10D) of the Act and your total payout value (policy proceeds due to you from Exide Life Insurance) for a financial year exceeds Rs. 1 lakh, then the tax deductions will be as under: