Thursday, January 29, 2009

Real Estate tax deduction for non-itemizers

If you don't itemize your deductions, you can take an increased standard deduction if you pay real estate taxes on your home.

To take the deduction:
On form 1040 it goes on line 40
and to the left of line 40 there is a box shown as line 39c which you need to fill in with an "X"
If you want to do your tax online at a low cost (as low as $ 9.95) , go to: (no cost if you do not finalize the return)

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