Can investment losses be claimed for taxes?

Answer According to the Internal Revenue Service (IRS), if your capital losses (investment losses) are greater than your capital gains, you can deduct the difference. The limit is $3,000 annually, or $1,5... Read More »

Top Q&A For: Can investment losses be claimed for taxes

Can I Write off Losses from Investment Accounts on My Taxes?

You can write off net investment losses on your taxes, but only up to a certain amount--$3,000 as of 2009. File Schedule D to claim this write-off. However, you must have actually sold an investmen... Read More »

How much money can you pay someone before it has to be claimed on taxes?

Generally, you will file Form 941 (PDF), Employer's QUARTERLY Federal Tax Return, or Form 944, Employer's ANNUAL Federal Tax Return, to report wages you have paid, tips your employees have reported... Read More »

Can a new furnace be claimed on taxes?

Buying a new furnace for your home could save you money on your monthly heating bills and get you extra money on your tax refund. Energy-saving improvements to your home, including energy-efficient... Read More »

Can property taxes be claimed on income tax?

According to the Internal Revenue Service (IRS), both real estate and personal property taxes are deductible. To take advantage of this, you must itemize deductions, using Form 1040 and Schedule A,... Read More »