This form must be submitted with the Real Estate Excise Tax Affidavit (FORM REV 84 0001A for deeded transfers and. The optional method allows you to deduct the mortgage interest and state and local real property taxes reported on Form 1098, Mortgage Interest Statement.We suggest you retain the customer portions of your current year tax and assessment statements to use for income tax reporting requirements the following year. Be sure to include your parcel or account number in the email. Because reverse mortgages are considered loan advan- ces and not income, the amount you receive isn't taxable. "Withholding tax" refers to the money that an employer deducts from an employee's gross wages and pays directly to the government. As an employer, you must record sums that are withheld from employee wages in a ledger account to clearly indicate the amount of state tax withheld. Examples of situations included in a simple Form 1040 return (assuming no added tax complexity):. Recognized in the income statement, and 2) other-than-temporary impairment related to other factors, which is recognized in other comprehensive income. 2 forms include numbered and lettered boxes that an employer must fill out to reflect how much you earned and taxes withheld.
