Income Tax Questions

Are you working on your taxes? I’m just starting on my income tax forms. If you’ve run into some questions, I know of a good website to check for answers.

Fairmark has several tax guides that may be useful. More importantly, they host a message board that is very active. I just posted a question there last night, and I received two replies this morning. Good luck with your taxes.

10 thoughts on “Income Tax Questions

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  • August 17, 2006 at 12:30 pm

    My husband and I are on s/s and in our 70’s He also gets 100% disability from the VA and a small pension check of 270.00. Do we have to file because we bout a house in Dec. 05 and will we have to file our interest paid? Thank you

  • December 13, 2006 at 1:15 am

    I bought a house for investment in Nov. 2003 for $85,900 + closing costs and sold it in 2006 for $180,000 – closing costs of about $15,000. I am retired with about $75,000 joint income from pentions and investments and have already had about $8000 withheld from my retirement income. How much should I prepay to federal and Ca. state to avoid any penelties?

  • December 28, 2006 at 8:28 pm

    What is a Homestead tax ? Will it cut my primary and only home taxes? Do I need to fill out a form for this? Do I need to be a certain age for this? Thank you for your time.

  • January 31, 2007 at 4:17 pm

    I had a house built in 2006 in Texas. Since there is no income tax I can deduct the sales tax on large items, constuction materials being a qualifier. Unfortunatly I cannot get itemized receipts for all the materials, some coming from the subcontractor in the way of a straight draw on a previous bid. Is there an estimation on the total amount of construction (material vs. labor) I can use to calculate the state and local tax paid without the receipt in my hand?

  • March 13, 2008 at 3:41 pm

    i need some tax questions and their solutions being student of ca in pakistan i wana have some experties in tax specially income tax ordinance 2001 of pakistan.
    yours truely
    ali gohar

  • January 15, 2009 at 3:04 pm

    My husband and I own two houses – one is in his name and one in my name. We live in one house, and my mother-in-law lives in the other house (we were not able to sell it). She pays us money to live in the house, but it is not enough to cover the entire mortgage, so we make up the difference. We file jointly. Are we allowed to claim the mortgage interest for both houses or just our permanent residence? Is she allowed to file her taxes as a renter? We are not making a profit off the old house, and we don’t want the house to be considered a rental. Please advise.

  • May 19, 2010 at 2:31 pm

    I am trying to find out if one’s social security income is displayed on the 1040X Amended U.S. Individual Income Tax Return in order to calculate both taxable and non-taxable income.

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