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Tax Time!

Discussion in 'BBS Hangout' started by Lil Pun, Jan 7, 2009.

  1. Bandwagoner

    Bandwagoner Member

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    Hells yes add the entire amount. Thats what the form is for.

    I always added mine.
     
  2. bobrek

    bobrek Politics belong in the D & D

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    have a look here:

    http://www.irs.gov/pub/irs-pdf/f1098t_08.pdf

    On the last page is a set of instructions for filers. You should be able to root around on the IRS website and get an idea as to what you need to do.
     
  3. juicystream

    juicystream Member

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    I don't know what kind of money you make, but that you would pay it for 2008 when your tax situation didn't change much is very suspicious. They increased the exemption through the AMT patch, but they didn't change the pase-outs which start at $150,000 for MFJ. I recently gained a client because TurboTax completely butchered his AMT calculation. It is possible you had the same thing happen. I'd take a close look at the Form 6251 and see if the calculation makes since to you there. Once you start hitting AMT, it may be worth having a CPA. Did you itemize or take the standard deduction.
     
  4. juicystream

    juicystream Member

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    Put the entire amount. I do this for a living. Take my advice. :)

    WWGD?
    What Would Geithner Do? :p
     
  5. Lil Pun

    Lil Pun Member

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    Yeah, I have taken your advice for everything else. Done! :)
     
  6. Lil Pun

    Lil Pun Member

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    Wow! I looked in my bank account this morning and I already have my direct deposit! :D
     
  7. KingCheetah

    KingCheetah Atomic Playboy
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    Yeah, mine already posted as well -- that was very fast.
     
  8. oomp

    oomp Member

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    Ours did too!
     
  9. KingCheetah

    KingCheetah Atomic Playboy
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    I hope they don't check my return too close -- I made 8 extra deductions for a recent octuplet birth.
     

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