 No stimulus check yet and not understanding why.? |
| Was supposed to get our check on 5/9 and still nothing. We mailed our return in, didn't have any fees removed and it wasn't rapid refunded. We received our normal refund the other day so ... |
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 Hi I have a question about Holiday Pay and whether or not i'll be able to claim it since i'm quiting work soon? |
| Basically I had a part-time job working in a bookmakers since the beginning of the year, and I have never received any holiday pay. I'm giving the job up next week so should I be able to request ... |
|
 Can you claim your hair and nails on your taxes? |
| a friend told me that you could and I was just curious because if you can that is not even ... |
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 Council tax in two homes? |
| iv got my own home but staying with my partner,and im on both c/tax. what shall i do?... |
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 Is it illegal to file taxes as joint, and forge the other persons name on the return and send it in No refund? |
| Were divorced in May. He had to pay a lot in taxes filing single, so let him file joint to give him a break. I never signed the return, even though he still had to pay in but, less. Is that illegal, ... |
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 Child Benefit Lost Cds- Letter? |
Hello
Everyone in the uk should know about the lost cds by now. HMRC are now sending out letters to people.
If I dont receive the letter does that mean that my details where not lost?... |
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 Ho long does it take to get a p45? |
| i have left my old place on the 1st of may, i still havnt recieved my p45!!... |
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 What is best to file 0 or 1 when they take money out of your paycheck? |
| I am claiming 0 right now and they take a lot of money out. I have never owed when claiming this and get back about $1,000 when I do my taxes. Is it smart to switch to 1 so they take less out? Of ... |
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 Will I get in trouble with the IRS if I've been married for 1.5 years but my W-4 status is still "Single"? |
| I filed my 2005 taxes "Married filing jointly" without changing my marital status on my W-4 from "Single."... |
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 How do I claim back overpaid tax? I want to claim for professional subscriptions and laundry expenses.? |
| I work for the Health Service and am allowed tax relief on my professional subscriptions and laundry expenses. I know that you can claim these back retrospectively and there is a company willing to ... |
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 Just got a $1000.00 bonus versus a raise - which is? |
my boss mentioned she was giving me a raise after tax season and I received a bonus of $1000.00 instead...how should I approach her on this? I think in the long run, a raise is more
beneficial ... |
|
 I want to give a cheque to someone which is more than Rs. 50000. Do I need to pay tax on this? What fomalities |
| I want to give a cheque oof more than Rs. 50000. What are the fomalities I need to comply with as the amount will be more than Rs. 50000.... |
|
 Canada ONLY: What if I refuse to pay My income tax? |
Hello everyone,
Im a resident of New-Brunswick, canada,and so this question applies only to canadians.
Ive just calculated my income tax and it seems I owe them about 1600$ (because they ... |
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 Can high tax people avoid paying? |
| OK, I know this guy who works on the railways, maintenance not train driving, and he claims to make really good money, like more than £60,000 a year because he's some sort of supervisor. I said ... |
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 My SSN ends in 06, and I submitted my tax return w/turbo tax on 2/10/08. No stimulus pymt info at IRS site. ?? |
| I went to the irs site and used the "where is my stimulus" tool, but it said it could not give me any information at this time. What does this mean?... |
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Joe C | I have no taxable income but I have capital losses. Can I still deduct $3,000 limit and get a refund? |
I have no taxable income. I had money to put into stocks, which I lost good amount of it that exceeds $3,000. Can I still deduct $3,000 as a capital loss and get a refund when I file a tax return? |
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stephenweinstein
|
No. Even if you have a net loss, your refund is limited to the amount of tax that was withheld from your income (none, if you have no income), the amount of any refundable credits (probably also not applicable if you have no taxable income) and the amount of any estimated tax payments you made. You will not receive a refund with the loss if you would not have received a refund without it.
However, you should file a return and claim the loss. The amount IN EXCESS OF $3000 will be carried over to a future year when you might have taxable income and might benefit you then. |
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Wayne Z
 |
A tax refund is a refund of over-withheld taxes or a refund of estimated payments.
If you didn't have any income taxes withheld or didn't make any estimated payments, their is nothing to refund. |
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bostonianinmo
 |
A refund of what? If you have no taxable income then you owe no tax. You'd only get a refund if you paid in taxes; doing that would be silly if you don't have any income! With no income to use the losses against, they are useless to you. |
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Judy1
|
No, you only get a refund if you paid in too much. If your capital losses give you a negative income, you don't owe any income tax, but don't get a refund because of it. You still have to show the $3000 capital loss. Any extra capital loss can carry over to the following year. |
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travelguruette
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You can only deduct up to your earnings. You cannot get a refund based on it. You can rollover the losses to future years. |
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v b
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If you have ZERO taxable income, the the capital loss carryforward will be preserved. That is, you don't lose the $3000, but you need to file to carry it forward.
(Note, to all, the tax return shows the -$3000, but the worksheet in the schedule D instructions will add it back.) |
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INFLUENCE
|
Even with the $3,000 capital loss limitation, you still must have taxable income to be able to deduct any of that loss. Too bad you didn't have any capital gains to offset the losses with. ;p |
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Sharon T
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Refund of what? If you haven't paid any money in and don't owe any taxes before the loss is figured in, you won't get any refund based on it. The losses will carry forward until such time as you have taxable income the losses can offset. If you never again have taxable income, the losses will die with you. |
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jo614
 |
Yes, Your losses are limited to $3,000 but you can carried unused losses forward until they are used. |
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