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If you have a simple return and are used to filling out Form 1040-EZ or Form 1040-A, you might be surprised to find that you now need to file Form 1040. All three IRS forms have been consolidated ...
Homeowners' tax credits could make for a lucrative tax ... or $375,000 if you’re married but filing a separate return. ... Your loan provider should send you Form 1098 shortly after the tax year ...
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
First-time homeowners are often nervous about all the new reporting they have to do during tax season. Instead of fretting, turn your anxiety into curiosity because there are many deductions and ...
Coupled with the tax exclusion, a home sale usually means most homeowners won't pay capital gains taxes on the sale if it's their primary residence, they've lived there for two of five years, and ...
Usually capital gains are taxed, but the gain you made on your home-up to $250,000 ($500,00 for married couples filing jointly)-is exempt from income taxes. You just need to have: Owned the ...