Married filing jointly both on chapter 13. am full time employed.
have other deductions such a mortgage, state tax charitable etc.
2007-08-05 03:08:18 · 3 answers · asked by mschrepp 1 in Business & Finance ➔ Taxes ➔ United States
A deduction for what? The unpaid taxes, only if you paid them. You can take deductions for the things you paid, but not for what you didn't pay.
2007-08-05 10:01:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I think that you are asking if you can take a deduction for the cost of filing the Chapter 13. I would think not. You may still take any deduction that you would have been allowed but for the bankruptcy. You may have some adjustments in credits or basis as a result of the bankruptcy but otherwise you will file your tax return as if this never happened.
2007-08-05 03:48:58 · answer #2 · answered by ? 6 · 0⤊ 0⤋
A deduction for what? You still get your deductions for home mortgage interest, property taxes, etc., but there are no "deductions" for being in a wage earner plan.
If any of the attorney's or accountant's fees that you paid were for tax advice or preparation or for advice on the generation of taxable income, those would be deductible as itemized deductions as usual. Other than that, any costs incurred in the BK filing are non-deductible personal expenses.
2007-08-05 03:18:47 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋