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Is gambling an itemized deduction?
You may deduct gambling losses only if you itemize your deductions on Schedule A (Form 1040) and kept a record of your winnings and losses. The amount of ...
Aug 22, 2026 1 views
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What happens when you sell a house to a child?
On the other hand, if you waited until your death for your child to inherit the property, the cost basis would be the “stepped-up basis,” or the value of ...
Aug 22, 2026 1 views
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Do you need a PTIN to prepare a tax return?
REMINDER: Everyone described above must have an IRS issued preparer tax identification number (PTIN) in order to legally prepare your tax return for compe...
Aug 22, 2026 1 views
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What child qualifies as a dependent?
To claim your child as your dependent, your child must meet either the qualifying child test or the qualifying relative test: To meet the qualifying child...
Aug 22, 2026 1 views
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What can a retired widow claim?
What is a widow’s pension? Bereavement allowance. If your spouse or civil partner passed away before 6 April 2017 you may be able to claim bereavement all...
Aug 22, 2026 1 views
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Can you check private pensions online?
To check your workplace and personal pensions, you can look at your annual pension statements or log in to your online accounts. If you’re not sure who’s ...
Aug 22, 2026 1 views
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Who can claim child tax credit if divorced?
If no divorce or separation decree states that the noncustodial parent may claim the dependent or there is no written declaration from the custodial paren...
Aug 22, 2026 1 views
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Can You claim yourself as a full time student?
A full-time student is defined as a student attending school full-time for at least 5 out of 12 months of the year and the months do not have to be consec...
Aug 22, 2026 1 views
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Which block on w2 is taxable income?
Box 1 Box 1 “Wages, tips, other compensation”: This is federal, taxable income for payments in the calendar year. The amount is calculated as YTD earnings...
Aug 22, 2026 1 views
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What is the total cost of solar panels?
With installation, an average residential 5kW size system costs between $3 and $5 per watt, according to the CSE, which results in the $15,000 to $25,000 ...
Aug 22, 2026 1 views
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Can you be an independent contractor and get a W2?
If you’re an independent contractor, you get a 1099 form. If you’re an employee, you receive a W-2. If you’re a contractor, you are responsible for calcul...
Aug 22, 2026 0 views
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Can I live in California and work in Oregon?
You must file in both states. Your home state of Oregon can tax ALL your income, regardless of where you earn it. California can tax you as a non-resident...
Aug 22, 2026 1 views
