Khai
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Yes. Your father who cosigned student loans may claim the student loan interest deduction on his portion that was paid. To claim the student loan interest...
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The cost basis would increase by 10k with the improvement resulting in 110k. The 6k of depreciation would then decrease basis resulting in 104k. When sold at 18...
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There is no loss on depreciation per se, but upon selling the property the improvements you made will increase your basis. The allowed depreciation would be con...
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No. Three factors determine how much depreciation you can claim each year: Your basis in the property The recovery period for the property The depreciation meth...
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Yes. If you receive a 1099-DIV then it should be reported (no matter the amount).
Activity Feed for Khai
- Posted Yes. Your father who cosigned student loans may claim the... on Education. June 6, 2019 8:58 AM
- Posted The cost basis would increase by 10k with the improvement... on Investors & landlords. June 6, 2019 7:39 AM
- Posted There is no loss on depreciation per se, but upon selling... on Investors & landlords. June 6, 2019 7:39 AM
- Posted No. Three factors determine how much depreciation you can... on Investors & landlords. June 6, 2019 7:39 AM
- Posted Yes. If you receive a 1099-DIV then it should be reported... on Investors & landlords. June 6, 2019 7:38 AM
- Posted You have 2 options for reporting these expenses: Have yo... on Business & farm. June 6, 2019 6:12 AM
- Posted No. The Protecting Americans from Tax Hikes (PATH) Act of... on State tax filing. June 6, 2019 6:08 AM
- Posted No. You do not need to provide him with your social secur... on Retirement tax questions. June 6, 2019 4:20 AM
- Posted You will send along with Form 8885 the following: Fill o... on After you file. June 5, 2019 4:31 PM
- Posted Yes. If your current employer does not cover the costs fo... on Deductions & credits. June 5, 2019 4:29 PM
- Posted The following steps should be taken in order to report in... on Get your taxes done using TurboTax. June 4, 2019 11:25 PM
- Posted Yes. Car and/or motorcycle registration fees are consider... on Deductions & credits. June 4, 2019 10:25 PM
- Posted The charitable deduction amount of the flowers is it's es... on Deductions & credits. June 4, 2019 8:58 PM
- Posted The maximum amount of daycare expenses you're allowed to... on Deductions & credits. June 4, 2019 7:59 PM
- Posted Yes. You will still be able to file under your married na... on Get your taxes done using TurboTax. June 4, 2019 6:54 PM
- Posted It depends. In order to claim children as dependents, the... on Get your taxes done using TurboTax. June 4, 2019 6:39 PM
- Posted Qualified college expenses paid by financial aid cannot b... on Education. June 4, 2019 6:39 PM
- Posted There should be some type of letter written by your docto... on Deductions & credits. June 4, 2019 6:34 PM
- Posted No. CA withholding tax on the sale of your home is the am... on Deductions & credits. June 4, 2019 6:25 PM
- Posted Those would be considered closing costs. They are not con... on Deductions & credits. June 4, 2019 3:47 PM