working on my tax return, need help

[danger boy]

Can I deduct my property taxes from 2007 when I'm filling out my tax return this year? If so, where is it? I can't seem to find it and I'm sure I have deducted my property taxes in the past.

[steveinaz]

If you itemize deductions. It's on Schedule A of the 1040A. Alot depends on your state; for instance in Arizona, vehicle registration is based soley on the cars' value (not weight, cubic inches, etc), so all of it can be claimed as personal property tax.

If you're talking real estate taxes, mortgage interest, etc, that's also on Schedule A.

[shack]

Do you itemize your deductions or file a 1040EZ return?

[billbillw]

If you are doing anything beyond the EZ form, I would suggest using TurboTax or a similar program. They will guide your through each step and check for errors along the way.

I always did the EZ forms myself, but since becoming a homeowner, a parent, and itemizing for a home office, I use the software.

[danger boy]

I itemize so I will look on schedule A I have been using TaxCut software for about 7 or 8 years now. it's so easy to use.

[RuSsMaN]

Property Taxes, Mortgage interest, do it ALL.

[PhantomOG]

There's even a standard deduction for sales tax you paid for the year. Turbotax gets 'em all for me.

[danger boy]

what other deductions do people take? How about hobby's? this is a hobby right? ;)

how many of you have to file state returns also? We don't. whew!

[dorokusai]

Id appreciate it if you didn't claim me as a deduction again this year. It's made my life a living hell.

[steveinaz]

healthcare (possibly, but we couldn't--you have to have a ton of medical bills)
mortgage interest/real estate taxes
mortgage interest on my pool loan
personal property tax (vehicle registration in Az; 2 cars 1 motorcycle)
Charitable contributions
the list goes on and on...see the schedule A

[danger boy]

i didn't qualify for the healthcare deduction.. i think i needed to spend something like 7K to qualify for that. and I don't get sick very often.. and my other med/dental bills never even approached that.. so that sucks.. it's making me sick just thinking about it. LOL

[steveinaz]

Most people don't, you have to be really low income and have alot of medical expense to qualify. Bev & I rarely go to the doctor.

[shack]

Your gambling losses can be offset against your gambling winnings.

[TroyD]

can I deduct all the money that I spent on hookers and blow when I went to visit hoosier21?

BDT

[polkatese]

Troy, I didn't know that you are a "Hobbyist"? ;)

[hockeyboy]

I generally deduct the hookers, but never the blow.

[ohskigod]

I itemize so I will look on schedule A I have been using TaxCut software for about 7 or 8 years now. it's so easy to use.


taxcut should ask you about your property taxes as you do the interview part. enter that, mortgage interest and any other applicable deductions it asks you for, then it will compare your standard deduction to your itemized deductions. if you got mortgage int. and prop taxes, chances are slim it will be less than the standard

[obieone]

Do you pay your prop. tax via an escrow? If so, you should have a statement from the mortgage co. with prop. tax & interest paid?
Good luck

[hockeyboy]

You can typically access your records on line for property taxes as well.

[danger boy]

Your gambling losses can be offset against your gambling winnings.

What gambling winnings? It's all losses :p ;)

[danger boy]

can I deduct all the money that I spent on hookers and blow when I went to visit hoosier21?

BDT

just the nose candy. not the eye candy :eek:

[steveinaz]

can I deduct all the money that I spent on hookers and blow when I went to visit hoosier21?

BDT

The hookers might satisfy the "medical requirement" test if you're creative enough with your explanation. :D

[reeltrouble1]

Well your Honor the boys on the board said I could deduct this stuff????? Its Club Polk where wire matters.

RT1