Tax Guru's Mortgage Question!

[SVTNorthTexas]

Also make sure to claim the Making Work Pay credit again for 2010. That goes away in 2011.

What's that?

[The King]

What's that?

Schedule M

It's a $400 ($800 for married filing jointly) tax credit that can be claimed on the EZ, 1040A, or 1040 forms, provided you meet the minimum income requirements. Tax credits > tax deductions, so be sure to claim it if you're qualified.

[SVTNorthTexas]

Schedule M

It's a $400 ($800 for married filing jointly) tax credit that can be claimed on the EZ, 1040A, or 1040 forms, provided you meet the minimum income requirements. Tax credits > tax deductions, so be sure to claim it if you're qualified.

I always use the standard deduction. I never have enough deductions to equal more than the standard. I hate tax time, I can't seem to get more than $150-200 back every year on my return.

[The King]

I always use the standard deduction. I never have enough deductions to equal more than the standard. I hate tax time, I can't seem to get more than $150-200 back every year on my return.

You can claim the Making Work Pay credit whether you itemize or use the standard deduction.