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Recent Rebate questions

I'm working on my taxes and am surprised that I have to pay

I'm working on my taxes and am surprised that I have to pay around $1,000 to $1,400. I am 70, had $7,500 in mortgage interest, $3,800 in real estate taxes, $3,100 in untaxed unemployment benefits, and around $48,000 in earnings from which income tax (1 exemption rate) was withheld, and then I had $22,250 in untaxed social security benefits, after my medicare premiums were taken out. I'm 70.JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: No, except that I guess I will have to change my exemptions from 1 to 0 for my withholding, and I wonder if that will be enough. I have provided a home for my son, a flight instructor, who hasn't made much money the last year, but he's 39. I don't suppose I can deduct anything for that? He's now going off to fly for Horizon Air, so that's not going to be an issue for next year. For today, though, I want to know how much of my Social Security is taxed with my working full-time.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,068 satisfied customers
I had a utility company damage my geothermal furnace when

I had a utility company damage my geothermal furnace when putting in a power line to a nearby house.I made a complaint to the attorney general of Missouri. I ended up putting in a new geothermal because of the damage. The utility company ended up giving me 2250 plus a 2250 rebate.The total cost of replacing damaged furnace was 17000.00.My question is can I take this as a loss on my taxes,this happened in 2016.

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Anne

Master Tax Preparer

3,276 satisfied customers
Is there such a thing as a Consumer rebate program or Law

Is there such a thing as a Consumer rebate program or Law that must be filed with the IRS between Jan. 1, 2017 -Aprill17, 2017? If there is, is this for every single purchase I made in 2016? Do I need the receipts?If it does exist, is it an ongoing rebate, year after year? Thanks!

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Robin D.

Vocational, Technical or Trade School

24,074 satisfied customers
I have heard there is a rebate on all personal expences in

I have heard there is a rebate on all personal expences in 2016. Is this true?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: Passed last year as new code? Something about artical or section 106.JA: Is there anything else important you think the Accountant should know?Customer: I wish I knew more but no.

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Anne

Master Tax Preparer

3,276 satisfied customers
Last year I sold a house in Hawaii as a non resident and

Last year I sold a house in Hawaii as a non resident and paid a Harpta Tax ($27,500) and received a rebate ($23,530) the same year (2016). I received a 1099-G for the rebate amount with a 2016 for the tax year. Do I claim that on this years federal taxes (2016)? Do I claim that as income on my federal return? Do I enter the difference ($3970) on line 15 of Hawaii non resident form?

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Robin D.

Vocational, Technical or Trade School

24,074 satisfied customers
My daughter and her ex boyfriend bought a house together in

My daughter and her ex boyfriend bought a house together in 2008. They got a tax rebate of $9000 that the have both been repaying. They have since broken up. He now owns the house. Is she obligated to keep align the rebate or is it his problem now?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: No.

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taxmanrog

Master's Degree

1,148 satisfied customers
Federal tax law question, I think I just got an add

Federal tax law question, I thinkHi,I just got an add regrading Federally funded purchase rebate program open to all taxpayers for 2016.link belowIs this real?How can I get a purchase rebate?ThanksCheers..Tomhttps://pro.oxfordclub.com/TAX1216UPTO99OXFLTMALAGBBRKIUP/MOXFT201/?a=4&o=2005&s=3673&u=1305830&l=9990&r=MC2&vid=8_AMst&g=0&h=true

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Robin D.

Vocational, Technical or Trade School

24,074 satisfied customers
I owe the federal tax agency about $5K in back taxes for

I owe the federal tax agency about $5K in back taxes for last year......if I buy a electric Car with a Federal tax rebate of $7,500 this year can I apply that rebate to me to what I owe front this year's rebate? Norman ***

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Robin D.

Vocational, Technical or Trade School

24,074 satisfied customers
Is there a way to file big ticket items I have purchased

is there a way to file big ticket items I have purchased during the yearJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I have heard of rebates for big ticket purchases and even some smaller item and I would like to know what qualifies and what forms are needed to claim with my tax return.JA: Is there anything else the Accountant should be aware of?Customer: Like what?

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Robin D.

Vocational, Technical or Trade School

24,074 satisfied customers
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