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gmpass2016
December 7, 2024
Question

I need some advice on capital gains taxable percentage charges. Is my child support payment tax deductible? Is buying new appliances price tax deductible?

  • December 7, 2024
  • 1 reply
  • 0 views
Need responses before the 2024 year ends

    1 reply

    DoninGA
    DoninGA
    Employee
    December 7, 2024

    Child support paid or received is not reported on a tax return.

     

    The cost of a new appliance for your personal primary residence, that is not used as a rental, is not deductible on a tax return.  The cost may be added to the adjusted basis as an improvement to the home when it is sold.

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