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Discussion Forum Index --> Basic Tax Questions --> $1,000 Homeowner Tax Break
Discussion Forum Index --> Tax Questions --> $1,000 Homeowner Tax Break
RayR (talk|edits) said:
| 14 April 2009
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| I had a client call me this morning saying they saw on the news that there was a $1,000 tax break for homeowners in the new in the stimulas package. I hadn't heard of any such thing, I know the breaks for first time buyers, for homeowners. Did I miss something?
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CinSee (talk|edits) said:
| April 14, 2009
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| They are probably referring to the real estate taxes that are added to the standard deduction this year.
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Deback (talk|edits) said:
| April 14, 2009
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| Single taxpayers get an extra $500 standard deduction and MFJ get an extra $1,000 standard deduction. This is only for 2008. Amounts paid for property taxes should have been entered on Sch A, even if they didn't have enough to itemize deductions, so your software would add the extra amount to the standard deduction.
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RayR (talk|edits) said:
| 14 April 2009
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| The real estate tax deduction was my thought but the client didn't think so and I just wanted to check. Here in Idaho that one gave me some problems as Idaho did not elect to follow federal until late in march and I had to amend several Idaho returns.
Thanks for the replies.
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