I paid over 10 grand in 2006 on interest on my new home. $2300 to property tax....how much should I expect back roughly. Me and my hubby made between 50 and 60 grand combined. Just a rough answer would be great....or any tips on itemizing since this is my first year owning a home...Thanks!
2007-01-13 10:37:44 · 4 answers · asked by Sandie 1 in Business & Finance ➔ Taxes ➔ United States
There is no way to tell since we don't know how much you've paid in federal tax on your paystubs. IM me at TAYLAL23 and I'll be glad to help.
2007-01-13 10:46:18 · answer #1 · answered by Kristy 2 · 0⤊ 0⤋
Since you don't give information such as how much you paid in, and whether you have any dependents, and what other itemized deductions you have, your question can't be answered.
If you're in a 15% bracket and don't have any other itemized deductions, then you'd get about $300 more back than if you didn't have the house and just filed with the standard deduction. But you almost surely have some other deductions. Depending on where you live, you might or might not have state and local income taxes - but if you don't, there's a deduction you can take for sales tax, and you don't have to have receipts. You might also have some charitable contributions you can deduct.
2007-01-13 22:50:38 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
if you dont wish to share your personal info with others you could go to hrblock.com. type in your information on their free calculator. You will need your mortgage statement and closing paperwork.
the same site has a free list of deductions and tax credits, and helpful hints. You can still do your own taxes using these tips.
Hope this helps.
2007-01-13 20:16:50 · answer #3 · answered by korax777 2 · 0⤊ 0⤋
well the interest and property tax is greater than standard deduction so itemize (nothing to it) has for how much you think you will get there isn't enough info here to tell. sorry.
2007-01-13 18:53:53 · answer #4 · answered by Anonymous · 0⤊ 0⤋