Wednesday, April 1, 2009

Did you know you can deduct up to $500 ($1000 for joint filers) for paid real estate taxes if you used the standard deduction?

Did you know you can claim up to $500 deduction for property taxes ($1000 for joint filers) if you DO NOT itemize?

It is absolutely true – for tax years 2008 and 2009 and you don’t itemize deductions (just take the standard deduction) AND you paid real estate taxes you can increase your standard deduction up to $500 single and up to $1000 for joint filers. Those sneaky IRS guys slipped this one in. Just check box 39c on page 2 of your 1040 form or if you are using the 1040A form, look at line 23c.

Check out for additional free tax planning resources and filing options.

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