When You Receive An Accidental Death/dismemberment Insurance Claim, Do You Claim It Come Tax Time?

Jan 08, 2009 by lเllร๏๓ค ~_~. | Posted in United States

My economize on had a stroke in '08 and an insurance policy we had was paid out to him. It is to be used for medical bills of definitely. My question is... Do we have to claim it on our '09 Federal and State Tax Return?
Correction: Do we claim it on our '08 yield?

You would not destitution to include benefits received in the form of disability pay, health or accident insurance proceeds unless the way is provided by your employer and the benefits are paid out from the employer, then the amount received must be prorated into taxable and nontaxable amounts. The utter requirement is that the reimbursement paid must be for medical expenses.

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Can I Deduct My Insurance Claim Deductible From My Tax Returns?

Feb 28, 2007 by Arleen | Posted in United States

I had a car run into my descendants in 2006 and opened up an insurance claim to help cover the damage. I received only a portion of my insurance deductible back - does anyone distinguish if I can deduct the portion that I paid out of pocket on my tax returns? There was a section in Turbotax that covered accidents and expenses incurred, but I wasn't guaranteed if the deductible was included? thx.

You can take a subtraction for an unreimbursed casualty loss, and deductibles certainly qualify as unreimbursed. Unless you paid a vast deductible it's probably not worth it as personal casualty losses are subject to a $100 + 10% AGI limitation. If your AGI is $45k, you'd indigence $4,600 in unreimbursed losses to get any benefit.

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Im Paid $2384.62 Bi Weekly. I Pay $300.00 Post Tax Insurance. I Claim Only 1 Dependent How Much Federal Tax Sw

Sep 09, 2007 by Jim C | Posted in United States

what should my federal tax be and what should my colorado tax be?

For Federal Taxes, you can use this adding machine:
http://www.expenseregister.com/Home/calc ulators/taxCalculator/taxCalculator.php

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Can I Claim My Parents As Dependents For Health Insurance And Tax Purposes?

May 16, 2008 by mrblueeyespa | Posted in Insurance

Both of my parents are forevermore disabled and receive monthly social security checks. They are currently living, rental free, in a house I bought for them. In addition to letting them live in my house the car they use is my extra one and I pay for all the service and insurance. Can I claim them as dependent for my health insurance and on my taxes?

Constitution insurance no. But you can purchase individual medical insurance for them.


Taxes yes depending on their income.
http://www.ehow.com/how_2080732_claim-el derly-pater-as-dependent.html

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Can You Claim A Medical Insurance Claim On Yout Income Tax?

Mar 08, 2007 by CT | Posted in Canada

These claims will be drug, dental and eye glasses.

Hello,

If I'm arrangement you correctly, you've submitted prescription, dental and eye glasses charges to a benefit lay out and presumably been reimbursed for some or all of the costs.

As such, the only amount that you can claim on your tax return is any amount that was not reimbursed by the insurance. For exxample, if your plan covers 80% of prescriptions and you paid the other 20%, then you can claim the 20%.

Also, if you pay any of the medical insurance premiums those can be claimed as a medical expense.

Cheers!

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My Dad Owns My Home , But I Have Paid Everything For It , Property Tax Insurance Ca I Claim Th House On Taxes?

Dec 09, 2008 by townsendindiana | Posted in United States

my dad bought it, i have paid everything for 8 years now paraphernalia taxes house insurance houe payment, but is there anyway of me claiming anything on the house on my taxes

If you are not answerable on the mortgage, and you also did not pay for it, you cannot take the mortgage interest .

You can probably take the real estate taxes, since you paid it.

Insurance is not deductible, unless it is mortgage insurance incitement. But being that you are not on the mortgage, I would not take that deduction either.

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Can I Claim My Weekly Insurance Co-pay On My Income Tax?

Sep 03, 1939 by joe c | Posted in United States

i was wondering what expenses i can claim on my taxes. i pay 35.00 a week through my job for well-being insurance, can i get money back for that on my taxes, and also what about my co-pays when i go to the doctor.

Does An Owner Of An LLC Have To Claim Their Medical Insurance As Income On Their Personal Tax Return?

Mar 26, 2009 by Lynda G | Posted in United States

I certain that if an owner of an S-Corp has the company pay their medical insurance, they owner needs to claim this as income on their tax come. Does this apply to an owner of an LLC ?

Do you even recollect what form(s) the LLC files at the federal level? Have you looked at the instructions or pub 535? If not, why not?

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Can I Claim Tax Returns On Health Insurance? ?

Jan 09, 2009 by Kristien | Posted in United States

I earned $45.000 in 2008 and I had babe and in June and I payed like $1700 health insurance from my pocket.Can I claim tax returns on this.
Also I bought a new Toyota car for $20000 on Subvene in 2008.Can I claim any thing on that?

Tax Deduction Question? Can You Claim Water Damages That Insurance Company Didn't Pay As Loss On Income Tax?

Mar 25, 2008 by Pinklight | Posted in United States

I had A-one damage on the ceiling in my kitchen, according to the insurance company's estimate, the damages would set someone back about 850.00 to repair...my deductible was 1,000. Can I claim the 850.00 that I have to pay for repairs as a Tax Deduction/Defeat on my income tax?

If your bottled water damage was a "sudden event" and not the result of a slow tear, the damage could be claimed as a loss. However, the IRS has added a few rules. First you subtract $100 from the harm, your's is now $750. Then you subtract 10% of your adjusted gross income. If you made more than $7500 , then you would not be gifted to deduct any of the loss. There is no $1000 limit for casualty losses.

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