In California, you are responsible to pay sales tax on the value of the car. A bill of sale may be sufficient evidence of that as long as it is reasonable...

A prior year form can only be claimed/reported in the tax year for which it was issued. So if you have a 2015 form 1098-T, you have to file an amended 201...

On the How do you want to import your taxes from last year? screen, choose the type of file you want to import. Click Next. Choose the tax return file you...

Any money you contribute to a traditional IRA that you do not deduct on your tax return is a “nondeductible contribution.” You still must report these con...

Traditional and Roth IRAs and 401k(s) offer catch-up contributions for those age 50 and over. Even if you’re on track with your retirement savings, tax-ad...

In other words, each partnership decides for itself how it will distribute earnings. Even if a partnership brought in tons of cash, the partners could sti...

New Deduction Available: The bill makes a new deduction available for up to $300 in annual charitable contributions. This is particularly beneficial to pe...

What you can do is make sure you name each other as the beneficiary of the accounts, so if something happens to your spouse, their retirement accounts bel...

If capital losses still exceed capital gains, the filer can claim up to $3,000 as a loss and continue doing so year over year until the net loss amount is...

En español | No. If you are eligible for more than one kind of benefit, Social Security will pay you whichever is higher. In most cases, if you’re already...