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I Went To Vegas Recently And Played Black Jack To My Heart's Content. In The Process, I Won Approximately $10,000. I'm Keeping My Winnings...
User Photo Kathryn Morgan
Tax Professional Level: Master Tax Advisor

You must report all your winnings (even if you did not get a W2G) as income on line 21 of your 1040. Your documented losses (documented being the operative word) may be deducted on line 28 of the Sch A, Itemized...   Read More
As A New Income Earning Taxpayer, When Should I Consider Hiring An Accountant?
User Photo Chuck Heyde, CPA, CGMA
Tax Professional Level: Tax Wizard

That's like asking if you need car or health insurance. You could wait until you need it and hope a CPA can bail you out of trouble. Or you invest in your future right away and develop a relationship with a...   Read More
I Am Looking To Buy A Florida Condo And I Am A Canadian Resident. In Order To Finance It, I Will Refinance A Rental Property I Have Here...
User Photo Chuck Heyde, CPA, CGMA
Tax Professional Level: Tax Wizard

Yes, you can claim Canadian mortgage interest used to finance a Florida condo on Sch A line 11 of your US tax return. Chuck Heyde, CPA, CGMA www.GEMMS.us   Read More


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