 Tax question. I want to bring home more of my paycheck.? |
| Cant I make it to where none comes out nearly all year? Or would I then have a huge bill at tax time? This would be for a single man with no dependants.... |
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 Is the interest on my mortgage a 100% write off? |
| My interest paid this year is $7600 is that a complete write off towards my income tax owed?... |
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 Is the 2008 Tax Rebate Based on 2007 or 2008 Tax Status? |
| My husband died in 2007 and I filed a joint return for 2007. So will I receive only $600.00 for myself, or will I also get an additional $600.00 for him as well.... |
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 If I find $5 on the floor, do I have to report it as income? |
Additional Details
Would YOU report that $5 as income if you found it?... |
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 How can neither my daughter or I be eligible for the tax stimulus? Where does the money go? |
| I claimed my daughter on my 2007 income tax, but didn't receive the child tax credit because she was 18 years old. From what I understand, neither her nor I, will receive a tax stimulus. I won&... |
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 Can both unmarried parents claim their daughter on their tax returns? |
| My fiance and I live together and both provide for our daughter (born in 2005). can we both claim her as a dependent since we both provide for her? Or can still only one of us claim her?... |
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 Can someone claim a child that they have custody of but does not live with them? |
| My son has lived with me for the past 4 years I take care of him with the help of my boyfriend. My mother has custody of him and is trying to claim him on her taxes but has only seen him like 5 times ... |
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| About to start a new job - they dont want my bank details? |
its a medium sized call centre, is it possible they will pay cash? if so how can i make sure they pay tax?
In future if i have another child I want to make sure i can recieve tax credits, ... |
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 I got my first paycheck and the company did not do any tax processing? |
i have 40 hours per week , they gave me 40X(hourly rate) to my paycheck
they did not cut any state or federal tax, will this be a problem for me>???
can i pay the taxes ... |
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 Can I simply take 50% hubby's income as my alimony to file 2007 income tax? |
Since in fact we are separated for years and will divorce in few month.
Additional Details
no lie here, we just agreed between us and not go to court yet. We have paid all tax and didn�... |
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 If someone is making over $250,000 a year, can they donate to charity in order to fall in a lower tax bracket? |
| Let's say someone makes $260,000 a year. Can they donate $10,000 to charity and deduct that in order to fall in the <250000 tax bracket?... |
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 Help with fractions please? |
40% of what = 200,000.
This is what the tax man wants in inheritance tax and I just want to know what sum would = 200,000 k at 40% ? Thanks.... |
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rainman_1999_76 | Do you have to report your wins or losses from playing online poker for tax purposes? |
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Mr Tax Preparer
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Gambling winnings are fully taxable and must be reported on your 1040. Gambling losses are deductible only if you itemize deductions, and you can only claim losses up to the amount of your gambling winnings.
Check the below IRS links for details. :-) |
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Judy1
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Legally, yes you do. You report wins, then if you itemize you can deduct losses up to the amount of your reported winnings for that year. |
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Peggy K
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If you received a Form 1099 or other statement from the site you subscribe to, you will have to report the income. As to the legalities, I'm not sure. You'd think that if it was illegal the government would shut it down.
I do know that if the winnings come from casinos, you have to report the winnings on the 1040, but you can count the losses (up to the amount of winnings) if you itemize your deductions on Schedule A.
It may be best, since you're almost down to the wire on the filing deadline, to check with the web site you registered with to see about this. They should have a FAQ link on the home page, and there is a terms of service agreement for the site which may have some valuable information on there.
I believe I'd list it as gambling winnings and enter it as "Other Income" on the front page of the 1040. It shouldn't hurt you, tax-wise, unless you've won a huge amount. Better safe than sorry, with the IRS. |
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Jo Blo
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I'd think that if you won anything, you'd receive a 1099 from the place that actually pays you,, so you would have to report that amount. If you itemize your deductions you can claim any loss from gambling up to the amount you win. That would all be different if you are a professional gambler,, do only that for a living,, |
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Srisri
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All income from winning of lotteries or horse race or other money winnning shows are taxable. In India upto Rs.5000/- tax free. For other countries no idea.
You have to reveal this in your returns to Tax authorities. |
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dewkisses02
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If your wins exceed your losses, you have to report it as income. |
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MajorTom ©
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Legally you're supposed to pay taxes on it. However if there are no records................. |
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leaptad
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Since it's illegal, that doesn't seem wise. |
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govtagent_2001
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no idea |
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