Question deleted. Don't want the rest of you to know how stupid it was.
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Timely Post
Snags, I don't know what you deleted, but the Title would be appropriate.
For 2008 tax year only under the Housing Assistance Tax Act 2008 ( and wasn't this extended to 2009 Emergency Economic Stabilization Act - bailout/rescue bill)), it seems that a t/p that can not qualify to itemize deductions, can increase the standard deduction by the lower of the property tax paid up to $500 for single, or $1,000 mfj.
Based on draft form, the amount is deducted on Form 1040, line 39C.
Any changes?
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Deprecation
...no, not depreciation, but deprecation.
The question would have had to do with property taxes paid, but a portion of them already deductible under office-at-home rules.
The amount otherwise eligible for Schedule A would be the property taxes paid minus the amount allowed deductible on 8879. For a fleeting moment as I was forging the question, I feared there might be an upside/downside to deducting on 8879. But there is not.
If not enough itemized deductions to use Schedule A, the amount eligible to be added to the standard deduction would thus be the "deprecated" amount.Comment
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