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Your husband can total all of his IRAs and then take his annual distributions from any one or more of the accounts; you must figure your RMD separately and take it solely from your IRA....
Home improvements for medical reasons are tax deductible, but only to the extent that they do not increase the value of the home. Consult with a realtor to make this determination. Note: Improvements ...
Deductible medical expenses include the cost of treatment for the purpose of affecting any structure or function of the body. While the IRS has not ruled on your specific condition, having a medical d...
While you call it recycling, in effect you are selling the item at a price that is less than what you paid for it. You have no gain to report; you cannot take a loss because the item was for personal ...
No, filing status has no impact on eligibility for the credit. Owners of residential low-income rental buildings can claim a low-income housing credit over a 10-year period. You can learn more about t...
The earnings limit for those like you who have not yet reached the full retirement age is $1,310 per month, or $20 more per month than in 2014. If you exceed this limit, you’ll lose $1 of benefits f...
No, federal income taxes are not deductible. But if you also paid state income tax in 2014 for 2013, you can deduct it on your 2014 federal income tax return....
The tax law gives the custodial parent the right to claim the exemption for a child as long as the child does not provide more than half of his/her own support. However, that parent can waive the righ...
The fee can be deductible as an itemized medical expense (in excess of 7.5% of adjusted gross income if your mother is 65 or older) as long as entry into the facility is on the direction or suggestion...
Each spouse who has a policy can take the deduction up to the dollar limit for his/her age. Thus, if both spouses are age 71 and they each pay premiums in 2015 of at least $4,750, they can deduct $9,5...
Your husband can total all of his IRAs and then take his annual distributions from any one or more of the accounts; you must figure your RMD separately and take it solely from your IRA....
Home improvements for medical reasons are tax deductible, but only to the extent that they do not increase the value of the home. Consult with a realtor to make this determination. Note: Improvements ...
Deductible medical expenses include the cost of treatment for the purpose of affecting any structure or function of the body. While the IRS has not ruled on your specific condition, having a medical d...
While you call it recycling, in effect you are selling the item at a price that is less than what you paid for it. You have no gain to report; you cannot take a loss because the item was for personal ...
No, filing status has no impact on eligibility for the credit. Owners of residential low-income rental buildings can claim a low-income housing credit over a 10-year period. You can learn more about t...
The earnings limit for those like you who have not yet reached the full retirement age is $1,310 per month, or $20 more per month than in 2014. If you exceed this limit, you’ll lose $1 of benefits f...
No, federal income taxes are not deductible. But if you also paid state income tax in 2014 for 2013, you can deduct it on your 2014 federal income tax return....
The tax law gives the custodial parent the right to claim the exemption for a child as long as the child does not provide more than half of his/her own support. However, that parent can waive the righ...
The fee can be deductible as an itemized medical expense (in excess of 7.5% of adjusted gross income if your mother is 65 or older) as long as entry into the facility is on the direction or suggestion...
Each spouse who has a policy can take the deduction up to the dollar limit for his/her age. Thus, if both spouses are age 71 and they each pay premiums in 2015 of at least $4,750, they can deduct $9,5...
