U.S. Citizens are taxed on their worldwide income.
If you sold your main home, you may be able to exclude up to $250,000 of gain ($500,000 for married taxpayers filing jointly) from your federal tax return.
You may be able to take the Credit for the Elderly or the Disabled if you were age 65 or older at the end of last year, or if you are retired on permanent and total disability.
Taxpayers who refinanced their homes may be eligible to deduct some costs associated with their loans.
When preparing to file your federal tax return, don’t forget your contributions to charitable organizations.
When you sell a capital asset, such as stocks, the difference between the amount you sell it for and your basis, which is usually what you paid for it, is a capital gain or a capital loss.
Earlier is better when it comes to working on your taxes.
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