New answers tagged tax-deduction
3
votes
US Short Term Rental - Can You Deduct The Full Property Depreciation And Property Taxes For A Primary Residence?
You prorate the deduction based on the business use days. For the days when the property is not available for rent you cannot deduct the expenses. See the IRS Publication 527.
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2
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Can I claim the tax back from my lawyer's fee?
Attorney fees for insurance and liability claims are not tax deductible in the US.
- 166k
3
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Is it better to get a resale certificate or register an LLC in CA?
The legal entity choice is orthogonal to the taxes questions. Your choice of legal entity doesn't change anything with regards to resale certificate or whether you can deduct expenses or not.
LLC is ...
- 166k
2
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Accepted
Can Schedule A medical expenses offset long term capital gains?
Schedule A deductions offset the total taxable income, including capital gains. However long term capital gains are taxed at preferential rates, so using Schedule A deduction to offset them is ...
- 166k
1
vote
Accepted
Where should I report HSA contributions from insurance (not me or my employer)
The 8889 instructions for 2023 have been updated to handle this exact case:
Line 9 Employer Contributions
Employer contributions (including employee payroll contributions through a cafeteria plan) ...
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