You Decide Project Federal Taxes
order to establish minimum reportable expense recovery revenue. The settlement revenue needs to be added to business revenue for this year, and then all applicable business expenses can be deducted.
Jane’s Tax Issues
2. (a) The interest and taxes that you pay on your home are tax deductible. If by selling your home, you have a gain, the IRS does generally allows you to exclude a gain of up to $250,000 (Topic 701). However, if you use the money to pay off your mortgage, you might be losing other
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