Home 3 Ways Your Home Can Save You Money This Summer Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by TurboTaxBlogTeam Published Jul 9, 2014 - [Updated Sep 8, 2017] 0 min read Your home can save you money this summer. Find out how. Previous Post Do You Qualify for the Affordable Care Act Special Enrollment… Next Post Self-employed? Here’s What Obamacare Means for You Written by TurboTaxBlogTeam More from TurboTaxBlogTeam 71 responses to “3 Ways Your Home Can Save You Money This Summer” « Older Comments I was approved in July 2014 for Social Security disability that covered all of 2013 and 2014. I received back pay for that same period, My question can I do amended tax return for 2013 so I can get a deduction for cashing out some of my 401k? I had taken money out of my 401K in 2013 and 2014 to live on. I turned 55 in May 2014 if that matters, I thought there was a deduction if you become disabled and you was approved for social security benefits and you had also taken out your 401k. Reply Patty, If you paid the 10% penalty for early withdrawal from your 401K, you can get that penalty removed using the exception that you are totally and permanently disabled. You would need to file an amended return for that. There is no deduction for cashing out a 401K due to disability. You will be reporting the social security disability back payments you received in 2014 for 2013 on your 2014 tax return. Reply I upgrade my house air conditioning system from a seer 10 to seer 18. Is there a tax credit for this upgrade Reply Don, If the new system was installed in 2014, there is no credit available. It expired at the end of 2013. If you installed it in 2013, you will need the Manufacturer Certification Statement (look online for the statement about your exact system. Mary Ellen Reply « Older Comments Leave a ReplyCancel reply Browse Related Articles Tax Deductions and Credits Summer Job Search Expenses That Can Save You Money Tax Deductions and Credits Happy Summer Solstice! 4 Ways to Save This Season Tax Planning 5 End of Summer Planning Tips to Help You Save at Tax Time Family How You Can Save Up To $2,100 on Summer Day Camp Tax Deductions and Credits Your Guide to Vacations and Taxes Tax Deductions and Credits Your Summer Travel Can Save You at Tax Time Education Four Tax Tips for Teachers Tax Deductions and Credits Bizarre Tax Deductions [Infographic] Tax Deductions and Credits Happy National Dog Day! How Finding Your New Best Friend Can Save You Money Deductions and Credits Giving Alert! Thrift Stores, Charities Need Your (Tax Deductible) Donations
I was approved in July 2014 for Social Security disability that covered all of 2013 and 2014. I received back pay for that same period, My question can I do amended tax return for 2013 so I can get a deduction for cashing out some of my 401k? I had taken money out of my 401K in 2013 and 2014 to live on. I turned 55 in May 2014 if that matters, I thought there was a deduction if you become disabled and you was approved for social security benefits and you had also taken out your 401k. Reply
Patty, If you paid the 10% penalty for early withdrawal from your 401K, you can get that penalty removed using the exception that you are totally and permanently disabled. You would need to file an amended return for that. There is no deduction for cashing out a 401K due to disability. You will be reporting the social security disability back payments you received in 2014 for 2013 on your 2014 tax return. Reply
I upgrade my house air conditioning system from a seer 10 to seer 18. Is there a tax credit for this upgrade Reply
Don, If the new system was installed in 2014, there is no credit available. It expired at the end of 2013. If you installed it in 2013, you will need the Manufacturer Certification Statement (look online for the statement about your exact system. Mary Ellen Reply