Tax Tips
- If I surrender a life insurance policy at a loss, may I deduct the loss? If so, is it an ordinary or capital loss?
- How may I deduct a loss on a variable annuity?
- Can I take a fuel tax credit for my boat or for off-road use of my motor home?
- Am I missing out on some tax deductions on my house? Any suggestions?
- May I take a tax deduction if a friend or family member defaults on a personal loan I made to them?
- Am I missing out on any charitable contributions?
- My wife and I are planning to enter a retirement community that charges a $150,000 entry fee and $1,700 in monthly fees. Is it true that we might be able to deduct over $50,000 in medical expenses on our tax return for the year we move in?