What is the difference between capital and deductible expenses?

A capital expense is payment, or debt incurred, for the acquisition, production, or improvement of a unit of property. You include the expense in the basis of the asset. Uniform capitalization rules also require you to capitalize or include in inventory certain other expenses. See chapters 2 and 6 for more information. Capital expenses are generally not deductible, but they may be depreciable. [...]

What are capital expenses?

Capital expense is payment, or debt incurred, for the acquisition, production, or improvement of a unit of property. You include the expense in the basis of the asset. Uniform capitalization rules also require you to capitalize or include in inventory certain other expenses. Capital expenses are generally not deductible, but they may be depreciable. However, you can elect to deduct certain [...]

New York Itemized Deductions IT 196

New York itemized deduction Beginning with tax year 2018, the Tax Law allows you to itemize your deductions for New York State income tax purposes whether or not you itemized your deductions on your federal income tax return (federal Schedule A, Itemized Deductions). For more information, see our New York itemized deductions webpage at www.tax.ny.gov (search: itemized). In general, your New [...]

Louisiana Other Adjustments to Income

Interest and Dividends on U.S. Government Obligations – Enter the amount of interest and dividends received from U.S. government obligations that are included in the amount on Line 1 of Schedule E. Include amounts received from mutual funds, which are identified as income from investments in U.S. government obligations. If the amount is not identified specifically, it is taxable and cannot [...]

Rhode Island Other Modifications Decreasing AGI

Income from obligations of the US government included in Federal AGI but exempt from state income taxes reduced by investment interest on the obligations taken as a federal itemized deduction. Rhode Island fiduciary adjustment as beneficiary of an estate or trust under RIGL §44-30-17 Elective deduction for new research and development facilities under RIGL §44-32-1 Railroad [...]