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You need to claim your income as being self-employed
On your federal income taxes, you are allowed to claim a mortgage interest deduction for your principal residence and one other residence of your choice. It does not have to be in the same state. In addition, you are allowed to claim the interest on all rental or business properties.
If it is income, in the form of forgiven loan or as a payment, then yes. If it is a gift, then no.
Yes that is correct when you claim married less income tax will be withheld from your gross wages. You do NOT have any taxes withheld from your net take home amount that is on your paycheck.
claim your home as what? if you are asking if you can deduct the interest and r/e taxes - on a second home then - yes.if it is a rental - that is a whole other situation.
Not on the federal income tax return.
You should report having a dependant in the home.
Yes.
TurboTax Home & Business is tax preparation software that handles self-employment taxes and personal income taxes. In order to register a copy of TurboTax Home and Business, one must claim personal identification.
That is called your Net income. Before taxes it is called Gross income.
I think you can deduct your property taxes and the interest on your mortgage!
No.