For you new arrivals…

As I go through the annual pain of filing my taxes (and marvel that I now pay the Fed more than I earned in a year as a teen) TurboTax has asked me an interesting question. A stupid question, I must say, since it asked me for my address already and a smarter programmer (like, say, ME, *ahem*) would have checked the zip code to determine if this was likely to be true. But that’s neither here nor there.

If you just moved into our fair city last year and bought or built a property there’s a goodly sized deduction you can take. It’s no good to you if you owned a property in the district before and it’s not going to do you any good if you bought it this year (though it seems like a persisting credit – something to make sure you/your tax filer check next year, Wayan) but make sure you don’t miss it if you do qualify- an extra $5,000 deductible is nothing to sneeze at.

Lord knows I could use it…

3 Comments so far

  1. Max (unregistered) on March 29th, 2007 @ 8:39 am

    I believe this is only available to people within a certain salary range, FYI.


  2. Max (unregistered) on March 29th, 2007 @ 8:40 am

    Sorry, I just noticed in your screen shot that it’s $90K or less for single folks.


  3. Wayan (unregistered) on March 29th, 2007 @ 8:42 am

    Its a tax credit, which means you get $5000 from the District as a refund or reduction of taxes owed – not a deduction which would only reduce the amount of your Adjusted Gross Income.

    And this wonderful credit has been around since 2001 or so.



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