deduction filed and get re-inburse for them like interest on
mortages, church and other projects that are tax deductable.
2007-01-26 11:22:44 · 4 answers · asked by John E 1 in Business & Finance ➔ Taxes ➔ United States
If you don't have taxable income then there is nothing to deduct against.
2007-01-26 11:32:31 · answer #1 · answered by Barkley Hound 7 · 0⤊ 0⤋
If you don't owe taxes, whether you're retired or not, that says that you don't have any taxable income. Any itemized deductions, including mortgage interest and charitable contributions, are used to reduce your taxable income. If it's already zero, then no, there's nothing to reduce. You don't get reimbursed for your deductions, you just get to subtract them from your taxable income, and yours is already zero if you don't owe any taxes.
2007-01-26 21:04:12 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Charitable deduction from what you pay? If your not paying anything how can you get a deduction? Only a small portion of what you pay is deductable.
One man asked if he got a refund if he didn't pay taxes.
NO!
2007-01-26 19:30:07 · answer #3 · answered by Vanessa 6 · 0⤊ 0⤋
sure you can just try it. and then let us know how much you got back
2007-01-26 19:32:44 · answer #4 · answered by Anonymous · 0⤊ 0⤋