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Started By
Message
re: Itemize on Tax Return Question
Posted on 1/25/23 at 5:32 pm to Dead Mike
Posted on 1/25/23 at 5:32 pm to Dead Mike
quote:
Your refund is irrelevant. What is relevant is your effective tax rate and/or tax credits. If you have children, then you may be seeing the effect of the decrease in the child tax credit.
This this this this this.
Infuriates me that people worry about refund/paying and not about the actual tax liability. Line 16 and 24 are what matters on a 1040.
0
Posted on 1/25/23 at 6:05 pm to RandySavage
You do need to enter the forms because of your state return. You likely itemize if you live in Alabama. Also, is it really that hard to enter the forms? Seems like it’d be worth it even if it doesn’t do anything for you.
Posted on 1/25/23 at 6:08 pm to RandySavage
I, for one, am glad they upped the standard deduction. It’s increasing to to $27,700 for 2023
Posted on 1/30/23 at 5:04 pm to Weagle25
I itemize bc mortgage interest and property taxes put me over the standard deduction. But Louisiana repealing the deduction for federal taxes and excess fed itemized deductions really screwed me on state taxes.
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