Comments on: Income Tax Questions http://www.fatpitchfinancials.com/53/income-tax-questions/ Special situation stocks and value investing Tue, 07 Feb 2012 02:35:15 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: J Gomez http://www.fatpitchfinancials.com/53/income-tax-questions/comment-page-1/#comment-453653 J Gomez Wed, 19 May 2010 18:31:11 +0000 http://www.fatpitchfinancials.com/53/income-tax-questions/#comment-453653 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. 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.

]]> By: Nicole http://www.fatpitchfinancials.com/53/income-tax-questions/comment-page-1/#comment-371287 Nicole Thu, 15 Jan 2009 20:04:20 +0000 http://www.fatpitchfinancials.com/53/income-tax-questions/#comment-371287 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. 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.

]]> By: ali gohar http://www.fatpitchfinancials.com/53/income-tax-questions/comment-page-1/#comment-221301 ali gohar Thu, 13 Mar 2008 20:41:03 +0000 http://www.fatpitchfinancials.com/53/income-tax-questions/#comment-221301 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. thanks yours truely ali gohar 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.
thanks
yours truely
ali gohar

]]> By: Jim Hartshorn http://www.fatpitchfinancials.com/53/income-tax-questions/comment-page-1/#comment-63620 Jim Hartshorn Wed, 31 Jan 2007 21:17:10 +0000 http://www.fatpitchfinancials.com/53/income-tax-questions/#comment-63620 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? 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?

]]> By: Bonnie http://www.fatpitchfinancials.com/53/income-tax-questions/comment-page-1/#comment-49806 Bonnie Fri, 29 Dec 2006 00:28:48 +0000 http://www.fatpitchfinancials.com/53/income-tax-questions/#comment-49806 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. 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.

]]> By: Rocco Calvello http://www.fatpitchfinancials.com/53/income-tax-questions/comment-page-1/#comment-42395 Rocco Calvello Wed, 13 Dec 2006 05:15:44 +0000 http://www.fatpitchfinancials.com/53/income-tax-questions/#comment-42395 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? 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?

]]> By: Marylyn Libby http://www.fatpitchfinancials.com/53/income-tax-questions/comment-page-1/#comment-5111 Marylyn Libby Thu, 17 Aug 2006 16:30:27 +0000 http://www.fatpitchfinancials.com/53/income-tax-questions/#comment-5111 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 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

]]> By: AllFinancialMatters » Blog Archive » Day 18 - Taxes http://www.fatpitchfinancials.com/53/income-tax-questions/comment-page-1/#comment-784 AllFinancialMatters » Blog Archive » Day 18 - Taxes Mon, 24 Apr 2006 21:51:29 +0000 http://www.fatpitchfinancials.com/53/income-tax-questions/#comment-784 [...] Income Tax Questions [...] [...] Income Tax Questions [...]

]]> By: Personal Finance is Fun Blog » Carnival of Personal Finance #37 http://www.fatpitchfinancials.com/53/income-tax-questions/comment-page-1/#comment-590 Personal Finance is Fun Blog » Carnival of Personal Finance #37 Mon, 27 Feb 2006 14:26:23 +0000 http://www.fatpitchfinancials.com/53/income-tax-questions/#comment-590 [...] Income Tax Questions. Fairmark has several tax guides that may be useful at this time of the year. (Fat Pitch Financials) [...] [...] Income Tax Questions. Fairmark has several tax guides that may be useful at this time of the year. (Fat Pitch Financials) [...]

]]> By: Money Blog Network http://www.fatpitchfinancials.com/53/income-tax-questions/comment-page-1/#comment-588 Money Blog Network Mon, 27 Feb 2006 01:30:20 +0000 http://www.fatpitchfinancials.com/53/income-tax-questions/#comment-588 <strong>Carnival of Personal Finance #37...</strong> Welcome to this week's edition of the Carnival of Personal Finance. The MoneyBlogNetwork is proud to be hosting today. As a summary of each piece, we are listing each author's reason for submitting the post to the carnival (for those...... Carnival of Personal Finance #37…

Welcome to this week’s edition of the Carnival of Personal Finance. The MoneyBlogNetwork is proud to be hosting today. As a summary of each piece, we are listing each author’s reason for submitting the post to the carnival (for those……

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