Noodleface
A Mod Real Quick
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I got an $8k refund last year which was a first.for me. Didn't understand it. Not sure at all what to expect this year
Death and... Taxes.
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The tax law changes probably hit you a bit harder. You live in a high income and property tax state don't you?
Koushirou
Log Wizard
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Looks like I lost a bunch of the student loan interest deduction as I just noticed that was half of what I got last year despite paying more off. Just annoyed as this was pretty poor timing for me to owe since I just moved and am paying an extra $500/mo now in rent just to get away from the fucking mold at the old place. Once my money stabilized I guess I’ll try dropping my allowances to 1 and see how that goes.
Noodleface
A Mod Real Quick
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Yes to both
I just have no gauge for this year. Also that $8k refund was after we owed Rhode island $1k
sleevedraw
Revolver Ocelot
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If anything, owing $200 instead of getting a $1k refund means your withholding was more accurate this year.
65k is a bad number. That's when the student loan interest and the traditional IRA deductions both start to get phased out. Because I got promoted, my income is going from about 60 to 75k, and I'm swapping my trad IRA contributions with Roth. This will probably be the last year I get a large refund.
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Dandai
<WoW Guild Officer>
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a c i d.f l y
ಠ_ಠ
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Return was only 25% of last year's, including kid credit. Didn't claim child care services, but wouldn't matter, capped deduction out. I can live with that.
LiquidDeath
Magnus Deadlift the Fucktiger
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I don't think most people on this board fit into the category of Americans that this change was supposed to help. The vast majority of us weren't filling out normal 1040s alone anyways, so the change to fit the 1040 on a postcard was to target the normies who really didn't need more than that.
Of course, all this shit needs to burn anyways and we need to go to a federal sales tax.
The whole need for the postcard was just political nonsense. The old forms made more sense since everything flowed to page 1 and 2. Just about nobody has 5.5" x 8.5" paper sitting around to actually print it on the new size anyway.
You probably cost yourself some money since the childcare credit is nonrefundable, but could have pushed your child tax credit into the the additional child tax credit, which can be refundable.
sleevedraw
Revolver Ocelot
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Assholes from my former job sent my W2 to my old address. Now I have to file 1040-X. Sigh.
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SeanDoe1z1
Avatar of War Slayer
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Kids are little tax havens now. Crazy to think you can make up to 75-77K w/ 3 kids before you pay any federal liabilities.
Using a 30second calculator the average US family median income of 56.6k at an average child rate of 1.9(round up to 2) they would get a $478 return on federal.
Using a 30second calculator the average US family median income of 56.6k at an average child rate of 1.9(round up to 2) they would get a $478 return on federal.
They're only required to send it to your last known address. Did you forget to give them your new one?
No, the 1098 is just about the interest you paid. Property tax info is usually available on your county assessor's website.
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Your 1098 should show real estate taxes as a separate line item if they're paid through escrow. If not, find it on your county website like Captain Suave mention.
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Doesn't matter, you're getting fucked on mortgage interest and property taxes anyway. For almost everyone I've talked to, 2017 itemized > 2018 standard > 2018 itemized. Everything I've read was that this supposed to be better for people with homes but the changes to exemptions just ended up fucking most people.
I'm getting ~30% less than last year while making ~10k more.
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