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re: first time homebuyers tax credit
Posted on 2/10/14 at 4:33 pm to Hu_Flung_Pu
Posted on 2/10/14 at 4:33 pm to Hu_Flung_Pu
quote:
That didn't move my federal amount any! The only thing that helped was the student loan interest. I filed married jointly and had to owe 200 dollars. Tried married separately, I don't owe anything but get back 700 dollars. WTF?
My guess is that your mortgage interest isn't enough to push you over the standard deduction for MFJ, but is for MFS. One thing to make sure you factor in before going with MFS is that if one spouse itemizes, then both must itemize. I'm guessing the other half of the MFS return will owe over $900.
Posted on 2/10/14 at 11:07 pm to CubsFanBudMan
So is this no longer a thing? I'm going to do my taxes soon and was ready to cash in on that. God I hope so.
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