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Depends on if your an employee or independent contractor.
Schedule C if your independent...this is essentially an important 9and beneficial) form where you make a profit & loss statement for your business (that is, you business of being a mechanic...getting to expense the amounts you spent to make the income your reporting). If your an employee, you should use Line 20 of Schedule A. However, expenses here are subject to the 2% floor...that is they must exceed 2% of your adjusted gross income, which is shown on line 38 of the Form 1040. Realistically, if you use any of the tax prep softwares...well worth the $20 or so they cost, it will ask you the questions and do it all, even suggest the best way, for you.
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Is it possible to claim your property taxes if making below 10000.00?
Sure. If you itemize you can claim your full property taxes. And this is new for 2008: If you don't itemize, you can claim $500 of property taxes ($1000 if married filing jointly). See the instructions for line 40 of 2008 Form 1040.
How do you claim hope scholarship on taxes?
Starting in 2009, the Hope Credit is now the American Opportunity Tax Credit. You can claim it by filing Form 8863 and attached to Form 1040.
How do you claim this deduction on your taxes?
THIS DEDUCTION ON YOUR TAXES will have to entered on the correct form or line of your 1040 federal income tax return before your income tax return can be completed correctly.
Do you have to claim on your taxes when ex husband buys out your equity in home?
If it is income, in the form of forgiven loan or as a payment, then yes. If it is a gift, then no.
What form do you I use to claim funeral expenses on taxes?
Funeral expenses are not deductible on a tax return (IRS Pub 502).
What is the name of the form that tells your employer how many allowances you wish to claim for withholding taxes?
You're probably talking about the W-4.
What is a roth and a traditional IRA?
A Traditional IRA is a form of a account that you can claim when doing your taxes. You will not pay taxes depending on which kind of account you choose. You must start to withdraw the money at a certain age as well.
How do you claim tool purchases for your job on your tax return Can you use the easy form or do you need to file a long form?
There are two forms that you will need to claim work related tools. The first form is the actual tax form, 1040. In order to claim specific expenses, you'll need to use the long version, with Schedule A. The second form you'll need is Form 2106-EZ. This form is the short form for employee expenses and the information will flow to the Schedule A.
Where can you download a claim form?
Type of claim?
What is the amount you need to claim medical expenses on taxes?
It gets complex...but in simplest form...it's a percentage of your already adjusted income...not a specific number.
What is the plural mechanic?
Mechanics is the plural. The singular form is mechanic.
What is the plural form of tools?
'Tools' is already in its plural form. The singular form of 'tools' is 'tool'.
