My husband and I always use the same company to prepare our taxes however this year, because we moved we went to a new location. In reviewing previous years we have always filed using for 1040A, however the new location used 1040. Will using a different form cause our refund to be different? We generally see a much larger refund then we did this year...
2007-02-16 02:59:11 · 5 answers · asked by Euphoria 2 in Business & Finance ➔ Taxes ➔ United States
Using a different form will not change the amount of your refund.
There may have been circumstances where you and your spouse had less taxes taken out , or no longer qualifing for a credit/deduction that would lower your refund
You need to compare last years numbers with this years to see what the differences are
2007-02-16 03:04:33 · answer #1 · answered by Anonymous · 2⤊ 1⤋
The form will make no difference perse. It's the way it's filled out. With a 1040A you can not itemize deductions such as excess medical expenses, mortgage interest, state income taxes paid, etc. All you do is take the standard deductions listed for you and your husband.
If you use the 1040 then you can itemize your deductions. You don't HAVE to. You can still fill it out using the standard deductions. You just have to do the math both ways to see which will give you the greater deduction and therefore the larger return.
A form 1040A is extremely simple to use and you should be able to do it without assistance. Try it, and see if the standard deductions will give you a better refund. If so, you can probably file an amendment.
2007-02-16 03:13:46 · answer #2 · answered by mustanger 5 · 1⤊ 2⤋
Filing on a form 1040 or 1040A will give the same refund for the same income, withholding, exemptions, adjustments, deductions and credits.
If your refund this year is much smaller and nothing else changed much for you, then lay the two returns side by side and see what lines changed a lot, then post back here if you don't understand what the changes mean.
2007-02-16 10:39:53 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
I suspect your tax situation changed this year. Maybe you're entitled to some deductions that you haven't had in the past? That's why the preparer moved you "up" to a 1040. One of the major differences between the 1040A and the 1040 is the ability to itemize deductions on a Schedule A. I suspect you were able to itemize this year -- did you buy a house? -- and that's why you ended up with a bigger than usual tax refund.
2007-02-16 03:09:20 · answer #4 · answered by Anonymous · 0⤊ 2⤋
The 1040 form allows for itemized deductions which may give you a larger refund if the itemized deductions are greater than the standard deduction. You say you moved, so you may be able to claim moving expenses; travel expenses associated with the move; closing costs and points if you bought a new home; etc...
This may be why the 1040 was used- but do go back and ASK!!!
2007-02-16 03:09:51 · answer #5 · answered by dutsky 1 · 0⤊ 2⤋