Tuesday, April 14, 2020

I Sold My House and Have My Closing Statement, What Can I Deduct?

Your 'Origination Fees' or 'Points.' Often these are not on the 1098 Mortgage statement and are only found on the closing statement of your loan. The amount will be entered on your 1040-A Itemized Deductions Line 8 C.

Wednesday, April 1, 2020

If I Live in Colorado But Earn Income in Texas, Do I Owe Colorado State Taxes?

Yes.

Colorado state taxes are owed on total federal income. You can deduct the amount you paid in other state taxes however but since TX doesn't have income tax, you would not be able to deduct anything from your Colorado taxes.

2020-04-01
SOURCE:
https://www.colorado.gov/pacific/sites/default/files/Income17.pdf

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