English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

...can I still claim deductions for these on my Federal and State taxes? I did collect unemployment and had taxes taken out, but will not having worked disqualify me from claiming deductions?

2007-01-29 14:01:58 · 6 answers · asked by Anonymous in Business & Finance Taxes Other - Taxes

6 answers

You can't get blood from a turnip. The question is, did you receive enough income from unemployment to qualify you to have to file taxes? The government isn't going to give you money back on money you never paid in. The return is your money anyways, less the governments percentage. If you do qualify for filing and do file, you can claim your mortgage and more than likely show a big loss, thus getting back only what you have paid in...........no more.

2007-01-29 14:13:21 · answer #1 · answered by dylancv62 3 · 1 0

comparable concern - my loan is with Wells Fargo and that i had an escrow account on the previous account and on the recent account. The money from the triumphing escrow have been transferred to the recent account, yet i did no longer could make a fee in November so the money have been short a pair hundred money. I have been given a letter pointing out i ought to do one in each and every of two issues a million) deliver in the money for the lack 2) they could develop month-to-month money to pay for the lack. It grew to become into quite no longer a ask your self because of the fact the comparable ingredient occurs each year, even whilst i've got no longer refinanced, because of the fact the taxes bypass up a splash bit each year and so does the coverage. My taxes are paid two times a year - a million/2 in Nov. and a million/2 in might. Wells Fargo has continually paid taxes and coverage on time whether there grew to become into no longer sufficient money in the escrow account.

2016-11-23 13:14:50 · answer #2 · answered by Anonymous · 0 0

YES. But only to the amount it offsets for income. A deduction is just that. If you have $50,000 in deductions but only made $25,000 . $25k income - $50k deductions = 0
You do not get the remaining 25,000 in a check. Although that would be sweet.
Most likely, your income will be offset by the standard deduction

2007-01-30 15:52:06 · answer #3 · answered by friendly advice from maine 5 · 0 0

You have reportable income (the unemployment comp) so you are allowed to itemize if your deductions add up to more than the standard deduction.

2007-01-29 17:58:33 · answer #4 · answered by Judy 7 · 0 0

Most likely, claiming your mortgage interest and property taxes will reduce your taxable income to zero, so you should get all of your federal and state withholdings back as refunds.

2007-01-29 14:17:30 · answer #5 · answered by jseah114 6 · 0 0

was your taxes more than standard deduction of 8450.00 for single if not go 1040ez

2007-01-29 14:34:16 · answer #6 · answered by Kafskorner 4 · 0 0

fedest.com, questions and answers