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#2
02-25-2005, 07:08 AM
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 Re: Above-the-line deductions "guy from there" <bay.of.arizona[at]gmail.com> wrote: - quote - > Background: Household of mother and son, AGI ~ 31k.
Neither of those are.> Apparently we owe over 2k in taxes (on 18k taxable). Of > course there was no witholding during the year, so maybe it > just seems larger than usual. We don't itemize, and I cannot > find a whole lof info on above the line deduction. Only ones > that come to mind are the retirement saver, lifetime > learning. - quote - > Are there any other ones?
Yes. They are listed on Form 1040.-- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
02-25-2005, 02:46 AM
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| Re: Above-the-line deductions guy from there wrote: - quote - > Background: Household of mother and son, AGI ~ 31k.
Might I ask, who are "we"? I would think the mother is> Apparently we owe over 2k in taxes (on 18k taxable). Of > course there was no witholding during the year, so maybe it > just seems larger than usual. We don't itemize, and I cannot > find a whole lof info on above the line deduction. Only ones > that come to mind are the retirement saver, lifetime > learning. the taxpayer solely and should be askng the question. Unless she is "guy from there". ? ChEAr$, Harlan Lunsford, EA n LA thu 24 Feb 2005 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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02-25-2005, 01:29 AM
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| Re: Above-the-line deductions "guy from there" <bay.of.arizona[at]gmail.com> wrote: - quote - > Background: Household of mother and son, AGI ~ 31k.
If there was no withholding, does that mean you are in> Apparently we owe over 2k in taxes (on 18k taxable). Of > course there was no witholding during the year, so maybe it > just seems larger than usual. We don't itemize, and I cannot > find a whole lof info on above the line deduction. Only ones > that come to mind are the retirement saver, lifetime > learning. > Are there any other ones? business for yourself? If so you may be able to deduct a portion of rent, utilities, etc., on a Schedule C if your home is your office. There may be other business expenses you can deduct as well. Stu << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-24-2005, 07:36 AM
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| Above-the-line deductions Background: Household of mother and son, AGI ~ 31k. Apparently we owe over 2k in taxes (on 18k taxable). Of course there was no witholding during the year, so maybe it just seems larger than usual. We don't itemize, and I cannot find a whole lof info on above the line deduction. Only ones that come to mind are the retirement saver, lifetime learning. Are there any other ones? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| abovetheline, deductions |
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