Give It Back!!!

I always procrastinate. I don't know why, it always ends up good for me. OK, not much time left, time to get to it. All the stuff is over there on the counter, let's see... Damit, I'm missing one of my W2 forms. Dig, dig, dig... minor setback, but I finally found it. Starts off easy, then comes line 6C, gotta put in the kids SSN's in there. I don't know what that number is, I'll have to find that. I'll be back for that. Line 7, add up my income. 8A, add in the pittance that I get in my meager savings interest. 10, add in my refund from the state last year. Not a whole lot more for that section, managed to dodge having to fill in line 19 for unemployment compensation. Add it all up for line 22.

Lines 23 to 36. Adjusted gross income. Nope, nothing in there for me, move the sum from 22 down to 37. While I'm at it, flip the form over and put that same number on 38. Line 39 has a place that says to check this box if you are blind. I consider putting a check mark a few inches away, and decide against it. Line 40, now things start looking good. Time to break out the Schedule A for more line filling fun.

Lines 1 through 3 on Schedule A are all about medical. Being as I'm nicely insured, it's usually under the threshold of 7.5% of my gross income, so I've not kept track of that. Possibly I should start, but I'd have to start doing that. From the beginning of the year. Not real likely to happen. Lines 5 and 6, state and property tax. A little preview of what I can look for from the state. Not bad. Skip down to line 10 for the interest on the mortgage. Down to 15 and 16 for gifts to charity. Gifts other than cash. How much do those old clothes and appliances I gave to Goodwill rate??? Probably they get considerably more for 'em than I'll claim. Call it $85 to keep from raising any flags. No job expenses, no casualty or theft losses, I don't even know what other miscellaneous deductions would be. Add it all up for line 28. Nice.

Back to the 1040. Line 41, take out the Schedule A deductions. YES!!! Line 42, multiply the number of deductions on line 6D by $3,300, then subtract that for line 43. Even better!!! Line 44, go to the tax tables and see how much they'd like to get out of me. Not bad. No alternative minimum tax for me, so blank 45 and move 44 down to 46. Nothing for me on lines 47 through 52, but at 53 things start looking good again. Child tax credit, see page 42. $1,000 per kid, or the amount on line 46 of the 1040, whichever is less. Haha, THAT'S where I break even!!! C'mere and gimme a hug, my little deductions!!! Could this get better??? Less than zero taxes??? Well, lets see, taxes minus credits is only line 57, this goes all the way to 76.

From there to line 63 is blank for me. Line 64 is what they withheld, how much I could ask for, nay, will ask for back. Line 66a, earned income credit. What could this be??? Flip to page 46 and check it out. Nope, apparently I make more than enough to be less than eligible for that. Line 68, additional child tax credit. Hmmm, I'll be needing a for 8812 for that. Subtract the difference between the child tax credit I already took and the $1,000 per kid. Takes it from the tax table amount to the full $2,000. Not bad. Not a huge amount, but made it worth my while to spend a few hours working this all out.

Didn't I tell you before??? I don't mind The Man taking his chunk. I'll have it back come April 15th, and then some!!!