In Turbo Tax Business what is the difference between reporting a "wash" equity mart as a cost or a loss?
If a tax payer is operating a daytime trading business what is the easiest way to report gain and/or losses in Turbotax Business if the broker is not on the introduction list? Is file on paper the lone option?Answers: ...
i believe so but see if you can go and get in contact next to IRS and ask a rep just to be sure
I'm not sure how you'd manipulate that with TT, but if you're truly operating as a Trader contained by Securities then exceedingly different rules apply to you. A Trader in Securities does not record these as captital gains on Schedule D but as business income on Schedule C. This is a complex nouns of tax canon and I 'd highly urge to to hope professional advice from a CPA or EA who specializes surrounded by this area of import tax law.
See IRS Pub 550 for further guidance.
Is donating to a political candidate tax deductable?
Answers: Donations to politicians or political parties are not tax deductible.
Refer to the link below in the Accountants Online site.
No, it is not.
Political Campaigns are not charitable organizations and therefore, donations to them are not eligible for a tax deduction.
Hmmmm. let me think about this.
Would our government servants pass a law that would allow money we send to reelect them be tax deductable?
I think that would be a yes.
Yes, but make sure you get receipts or confirmation letter from the candidate's party.
More about deductions and donations here:
http://www.gmigllc.com/taxes/turbotax.ph...
Wayne Z is right. Political contributions are NOT deductible. Do not listen to the other guys they don't know scat.
Our son is 21, full time student, living at college. can we still claim him as a dependent and EIC?
Answers: Assuming that you are paying more than half of his expenses you can claim him as an exemption. EIC will depend on your income level.
when a child reaches 17 you can no longer claim them as earned income credit.my grand son who i am raising will be 17 this year and they said i could file him this year,but not next year.[for the EIC credit only]