In the effort to close the loop as previously mentioned by Jeff at Daddy Diary Tales I am updating you on the cell phone tax item I previously mentioned. Now I know most of you have already filed your taxes so I'm too-little-too late with this info and so I hope and presume you caught it in the 'what's new for 2006' at the front of your oh-so-informative tax book. Now we here file a 1040 form with the Schedule A and some other forms. So my information will be soley based on the line number and page number in the 1040 book. I'm no tax accountant and by no means pretend to be a tax expert. My older sister is, by education, the accountant in the family.
In the 1040 book on page 11 is the 'what's new for 2006' AND 'what's new for 2007'. The FIRST thing listed on 2006 is 'Credit for federal telephone excise tax paid' of which I mentioned. If you flip to page 60 of the booklet it tells you to put this item on line #71 and you can claim the standard exemption (but if you're ambitious you could pull out all your phone bills beginning in February 28th of 2003 to August 1 of 2006.) The most you can claim in the standard claim is $60.00.
So there you go. I closed the loop. Why is it on my brain? Because I'm doing our taxes today. Fun fun! Not as much fun as when the refund goes into the direct deposit, let me tell you. LOL
I searched my blog over and tried to find the original post and holy POSTING ANGEL!! I couldn't find it. I chalk it up to wanting to do the taxes and so I will not link to it. Sorry!
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3 comments:
Thanks for the tip... taxes already in... took the credit though...I remembered. That and a new baby this year. Oh, Baby, Oh, Baby!
I did mine last Saturday and claimed the $60. I e-filed and opted for direct deposit. According to the powers that be, we should see the deposit this Friday. I can hardly wait! It's just like Christmas in February, only without the tree.
Good luck with your tax forms.
long island dad... I remember that you had filed. And yes, kids cost a ton of money but that shot in the arm at tax time is awesome! I'm glad you remembered!
Rick... Oh I hope mine comes in as fast as yours did. Excellent!
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