I am doing my own taxes this year. Last year, I had them done by an accountant. For 2005, on Schedule A, Line 7, he entered the amount of $349.00. I've gone over every form I gave him last year and cannot find where he got this figure from. I've read the IRS explanation numerous times and find it most confusing. Can anyone explain what this is and where he could have pulled this dollar figure from?
2007-03-26 10:48:03 · 5 answers · asked by Howard C 2 in Business & Finance ➔ Taxes ➔ United States
I've seen tax returns prepared with false information on the line for "property taxes." It could very well be possible that the number was made up to increase deductions.
2007-03-26 17:59:54 · answer #1 · answered by tma 6 · 0⤊ 0⤋
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RE:
1040 Schedule A, Line 7-Personal Property Taxes?
I am doing my own taxes this year. Last year, I had them done by an accountant. For 2005, on Schedule A, Line 7, he entered the amount of $349.00. I've gone over every form I gave him last year and cannot find where he got this figure from. I've read the IRS explanation numerous times...
2015-08-18 16:32:21 · answer #2 · answered by ? 1 · 0⤊ 0⤋
My suggestion is to call your last tax preparer....If you don't know then be cautious because you could be audited and set up to have penalties.
You can always call the IRS and have them go through it with you as well.
This isn't a question that someone from yahoo can answer as that we don't have your return in front of us as well as understanding what your situation is. Also, you should always go over your return with your accountant before you send it to the gov't. I know alot of our clients go over their return. It's not smart to sign if you don't understand....
2007-03-26 10:55:54 · answer #3 · answered by mailjunkie123 3 · 2⤊ 0⤋
Look at your bill for you annual car registration - it's probably part of that, but only the personal property tax part, not the license renewal part. If your registration renewal is larger than the $349, then that's probably what it was.
2007-03-26 11:41:59 · answer #4 · answered by Judy 7 · 2⤊ 1⤋
The registration fee is based on your car's value. Does it say Ad valorem anywhere? That would be what you are looking for.
2016-03-16 00:56:41 · answer #5 · answered by Jana 4 · 0⤊ 0⤋
This could be your vehicle registration fees on one or more cars. This is what it normally is and is not the FULL fee you paid to renew registration normally, but rather just the Licensing fee. Try looking at those numbers
2007-03-26 10:52:32 · answer #6 · answered by Jen 5 · 1⤊ 2⤋