Nov 14, 2014 | Individual Income Tax Returns, Taxable Income
If you lose your home through foreclosure or have restructured your mortgage loan, you could qualify for tax relief under the Mortgage Forgiveness Debt Relief Act. You can exclude up to $2 million of debt forgiven by or cancelled by a lender on your personal...
Nov 14, 2014 | Individual Income Tax Returns, Taxable Income
If you receive either of these benefits, you will receive a Form SSA-1099, which will let you know how much money you received in benefits. Social Security benefits include disability, retirement, and survivor benefits. If your only form of income is Social Security,...
Nov 11, 2014 | Arizona Income Taxes, Federal Income Taxes, Individual Income Tax Returns, Taxable Income
You can’t claim an exemption for your spouse as your dependent, but you can claim a personal exemption. To claim a personal exemption for your spouse, you must meet a host of requirements. For example, you must have been married on the last day of the tax year. For...
Nov 11, 2014 | Individual Income Tax Returns, Taxable Income
The two types of exemptions are personal exemptions, and exemptions for dependents. You are allowed to claim exemptions for yourself, each person you claim as a dependent, and your spouse. In 2014, you can claim up to $3,950 for each qualifying child, while you and...
