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This form is used to calculate the recapture tax on federally subsidized mortgage loans when a home is sold or otherwise disposed of. It requires details about the type of subsidy, the original loan,
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How to fill out 8828
How to fill out 8828
01
Obtain IRS Form 8828 from the IRS website or through tax software.
02
Enter your name, address, and tax identification number at the top of the form.
03
Determine the type of expenses you are claiming for the business use of your home.
04
Fill in Part I, detailing where the business part of your home is located.
05
Complete Part II with the appropriate expenses you are claiming, such as utilities and mortgage interest.
06
Ensure all figures are accurate and add up correctly.
07
Sign and date the form before submission.
Who needs 8828?
01
Home-based business owners who want to claim deductions for home office expenses.
02
Individuals using part of their home exclusively for business purposes on their tax return.
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What is 8828?
Form 8828 is an IRS form used to report the expenses related to the business use of a vehicle.
Who is required to file 8828?
Taxpayers who use a vehicle for business purposes and want to claim related expenses must file Form 8828.
How to fill out 8828?
To fill out Form 8828, taxpayers should provide information about the vehicle, the percentage of business use, and details of the expenses incurred.
What is the purpose of 8828?
The purpose of Form 8828 is to allow taxpayers to report and claim deductions for expenses related to the business use of their vehicles.
What information must be reported on 8828?
Form 8828 requires information such as the vehicle type, ownership details, business mileage, total miles driven, and the breakdown of expenses.
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