Income-tax-return sentence example
They are considered income in the hands of the recipient and must be declared on the annual income tax return.
The payer and recipient cannot file a joint income tax return for any year where a deduction for alimony payments is being claimed.
Make sure that you get a receipt from the donation center for your records to use for your income tax return.
This means that you can take a deduction on your federal income tax return for the donation of your vehicle.
Transfer the car to the charity, get a receipt for the donation, and file the receipt with the other paperwork until time to file your next income tax return.Advertisement
If the official year end is December 31, then the company's income tax return is due by March 15 of the following year.
The employee then has to include the amount of the contribution on his or her income tax return.