Announcement

Collapse
No announcement yet.

Property Tax added to Standard Deduction

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Property Tax added to Standard Deduction

    Tax payer went to efile.com to get an estimate of how much of a refund they might get this year. They then questioned me about the fact that this site is adding property taxes to the standard deduction. In TTB 1040 edition it says

    "For tax years 2008 and 2009 only, taxpayers who did not itemize deductions were allowed an increase in the standard deduction for the real estate taxes paid .........."

    However efile.com is still figuring it in. Have I missed something that has been reinstated this year? (I did notice some other errors in the way it calculated.)

    As usual, Thanks for info.

    LT
    Only in government or politics is a "cut in spending" really an increase. It's just not as much of an increase as they wanted it to be, therefore a "cut".

    #2
    You're not missing anything. Property taxes should not be added onto the standard deduction.
    Michael

    Comment


      #3
      Ria & Lacerte Don't Have It

      A Quick Review Of Ria And Lacerte Software Agree It's Not Available In 2011

      Comment


        #4
        No property Tax

        Addition to Standard deduction for year 2011! No Longer - It Expired.

        Sandy
        Last edited by S T; 02-08-2012, 10:57 PM.

        Comment


          #5
          Originally posted by S T View Post
          Addition to Standard deduction for year 2011!

          Sandy
          What? How do you do that? with schedule L?'
          ChEAr$,
          Harlan Lunsford, EA n LA

          Comment


            #6
            Originally posted by ChEAr$ View Post
            What? How do you do that? with schedule L?'
            You have to read the message title to get the whole message. That always confuses me.
            Michael

            Comment


              #7
              Correction

              Sorry - My title Line was "NO" but it was not clear in the body of the thread! So I just corrected.

              Sandy

              I should do like what JG or some one posted many months ago, and not use the Title, But there were a few posters that wanted the Title.

              Darn It!

              Comment


                #8
                Originally posted by MilTaxEA View Post
                You have to read the message title to get the whole message. That always confuses me.
                I'm glad I'm not the only one. I virtually never read the reply titles - I already know the subject of the thread.

                If Dickens had made first line "It was the worst of times", moving the "best" part to the title, it would have been far less memorable. (Quick: What was the actual title of the chapter? Not memorable, is it?)

                If people want to use the title feature for replies, may I respectfully suggest that it actually be a title, and not the first few words of the opening sentence?

                Comment


                  #9
                  Originally posted by S T View Post
                  Sorry - My title Line was "NO" but it was not clear in the body of the thread! So I just corrected.

                  Sandy

                  I should do like what JG or some one posted many months ago, and not use the Title, But there were a few posters that wanted the Title.

                  Darn It!
                  I plead guilty.

                  Comment


                    #10
                    Yes! so unless an original start of a thread/post, I am going back to nothing in the Title Line unless I think it is Important or needs attention for what I might be posting on a response.

                    I often have the same problem in reading the responses, and miss those one liners in the "Title Section"

                    Sandy

                    Comment


                      #11
                      I think

                      that's a good idea.
                      "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

                      Comment


                        #12
                        title line? what title line? kidding...I rarely use it or read it.
                        Believe nothing you have not personally researched and verified.

                        Comment


                          #13
                          Originally posted by S T View Post
                          Yes! so unless an original start of a thread/post, I am going back to nothing in the Title Line unless I think it is Important or needs attention for what I might be posting on a response.
                          I often have the same problem in reading the responses, and miss those one liners in the "Title Section"Sandy
                          Me, too. Most disconcerting. Good time to plead with posters to also make the original title relevant to the thread, instead of "Question," or some other remark. Makes it most difficult to do a search using Title when you are looking for subject matter.

                          Comment


                            #14
                            And I still want to know how we can add property taxes to the standard deduction.
                            ChEAr$,
                            Harlan Lunsford, EA n LA

                            Comment


                              #15
                              Originally posted by ChEAr$ View Post
                              And I still want to know how we can add property taxes to the standard deduction.
                              Har, de har har. You are funny.

                              Comment

                              Working...
                              X