Check the Status of your Tax Return
Once you have filed your tax return you are sure to want to know its status and when your tax refund will be arriving. The IRS provides a couple of different options for you to determine when your return has been received and when your refund will be arriving. Start today at IRS.gov.
The IRS website has a ‘Where’s my Refund?’ option which provides the information you are seeking. You need to provide three pieces of information to obtain the status of your return. Provide your Social Security Number, your Filing … Read more at 2008 Taxes.
You Bought a House, Claim the First-Time Homebuyers Credit
There are a number of documentation requirements when you go to file your return for 2009 and you want to claim the First-Time Homebuyers Credit. This great credit of $8,000 helps with fixing up the new house or paying off some moving expenses. But claiming the credit requires a number of documents and filing a paper return with the IRS.
The first statement you will need to attach to your 1040 paper tax return is a HUD-1 Settlement Statement. You will get a copy of this form when you close … Read more at 2008 Taxes.
By Steve
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Posted in property taxes, tax credit, Tax Preparation, turbotax
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Tagged 1098, 2009, certificate of occupancy, documents, first-time home buyers, Hud-1, irs, long-term buyer, mortgage interest statements, paper return, retail sales contract, settlement statement, tax credit, tax return
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Capital Gains and What to Report to the IRS
Capital Gains and Losses are the result of holding capital assets for investment or for personal use. Capital Assets held for investment result in a capital gain or loss when sold compared to their basis, or what you purchase the asset for. Capital Assets held for personal use can only create a capital gain. All capital gains must be reported to the IRS.
Long term capital gains are better as their tax rate is generally lower than short term capital gains. The classification of a capital gain or loss is … Read more at 2008 Taxes.
By Steve
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Posted in capital gain, Tax Preparation, turbotax
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Tagged 1040, capital gains, carried forward, investment, irs, losses, publication 17, schedule d, Tax Preparation, tax rate
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