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Can gift money be used for down payment?
If they’re happy to, your parents can actually gift you the money for the deposit to buy a property. The banks usually require parents to evidence that th...
Jan 16, 2026 2 Views
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Where are TurboTax data stored?
Documents folder By default, TurboTax saves your tax data files in the Documents folder on your computer. The specific folder location is C:/Users/user_na...
Jan 16, 2026 2 Views
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What is a nonrefundable education credit?
Education tax credits can either be refundable or nonrefundable. A nonrefundable tax credit can reduce the amount of tax you owe to zero but does not pay ...
Jan 16, 2026 2 Views
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Is Ohio identity confirmation legit?
This is one time consumers can believe the letter. The Ohio Taxation Identity Confirmation Quiz is NOT a scam. In 2015, Ohio started using the Identity Qu...
Jan 16, 2026 2 Views
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Where do I file my 4868 extension?
Where do I mail my Federal Extension? If you live in: And want to pay by mail, send Form 4868 with your payment to the: Internal Revenue Service Extension...
Jan 16, 2026 2 Views
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Can a partnership make a gift to an individual?
Spouses may not file a joint gift tax return. Each individual is responsible for his or her own Form 709. If a trust, estate, partnership, or corporation ...
Jan 16, 2026 2 Views
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What is the income limit for spousal IRA?
Spousal IRA Deduction Limits If your MAGI as a married couple filing jointly is… You can take… $105,000 or less a full deduction up to the contribution li...
Jan 16, 2026 2 Views
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Can you file Form 8938 separately?
You do not need to separately report the assets of a financial account on Form 8938, whether or not the assets are issued by a U.S. person or non-U.S. per...
Jan 16, 2026 2 Views
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What are mandatory grounds for possession?
Mandatory grounds for possession. Ground 1 – Owner occupation (prior notice ground) Ground 2 – Repossession by lender (prior notice ground) Ground 3 – Out...
Jan 16, 2026 2 Views
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Do you need an attorney for a tax audit?
In truth, the only time you really need a tax attorney for an audit is when the audit accuses you of a crime like tax evasion or fraud. So if an audit eve...
Jan 16, 2026 2 Views