Personal Property Taxes

Personal property tax is deductible if it is a state or local tax that is: Charged on personal property. Based only on the value of the personal property. Charged on a yearly basis, even if it is collected more than once a year, or less than once a year. Typically you receive a yearly bill for this type of tax on your cars, boats, trailers, etc. Example: You paid a yearly fee for the [...]

Payment Options to OLT

Credit Card Payment is safe and secure (Verisign Secure). Enter your credit card information and complete your return. You will receive proof of Federal acceptance within 48 hours. It is safe and easy and when we e-file your return for you, your tax refund will come back fast. Total cost charged to your card for e-filing your Federal Return is $7.95 $9.95 and each State return is $7.95 $9.95 [...]

Other Itemized Deductions

Other Itemized Deductions •Gambling losses (gambling losses include, but aren't limited to, the cost of non-winning bingo, lottery, and raffle tickets), but only to the extent of gambling winnings reported on Schedule 1 (Form 1040 or 1040-SR), line 8. • Casualty and theft losses of income-producing property from Form 4684, lines 32 and 38b, or Form 4797, line 18a. • Federal [...]

Other Income

Do not report on line 21 any income from self-employment or fees received as a notary public. Instead, you must use Schedule C, C-EZ, or F, even if you do not have any business expenses. Also do not report on line 21 any nonemployee compensation shown on Form 1099-MISC. Instead, see the chart on Page 11 of Form 1040 instructions to find out where to report that income. Taxable Income Use line 21 [...]

Other Expenses - Schedule A

Other Itemized Deductions: List the type and amount of each expense from the following list next to line 16 and enter the total of these expenses on line 16. If you are filing a paper return and you can't fit all your expenses on the dotted lines next to line 16, attach a statement instead showing the type and amount of each expense. Only the expenses listed next can be deducted on line 16. For [...]