2006 Tax Return Thread [ Post your estimated refund/amount owed ] Post back later when you file

[BigDH01]

Originally posted by: iamwiz82

Originally posted by: BigDH01

Originally posted by: iamwiz82

Originally posted by: j00fek
man all of you that get lots back must not get paid that much

or have some kidz

Deductions. We had just under $30,000 in them.

How did you get 30k in deductions? Was it mostly children, home, medical? I need to learn how to get these huge refunds .

No kids and not enough medical deductions. It was mostly in the house, property taxes, lots of donations, personal deductions, student loan interest, etc.

It's too bad the housing bubble has made it impossible for people like me to buy a home unless I want a suicide loan. It's also too bad I can't deduct the portion of my rent that goes to pay my landlord's interest on his loan or the property taxes. I could've gotten a nice refund .

I don't want it to sound like sour grapes, but the current property tax, mortgage interest deduction really benefits the middle-aged while hurting the younger generation who can't afford houses in the bubble market. Sorry for ranting .

 

[TXHokie]

$4500 refund and no state tax in TX - e-filed.
Man I gotta stop giving uncle Sam interest free loan but this year is an exception with #3 kid, lots of medical out of pocket costs, bought new car (deduct sales tax on that!), mortgages, etc.

 

[iamwiz82]

Originally posted by: BigDH01

Originally posted by: iamwiz82

Originally posted by: BigDH01

Originally posted by: iamwiz82

Originally posted by: j00fek
man all of you that get lots back must not get paid that much

or have some kidz

Deductions. We had just under $30,000 in them.

How did you get 30k in deductions? Was it mostly children, home, medical? I need to learn how to get these huge refunds .

No kids and not enough medical deductions. It was mostly in the house, property taxes, lots of donations, personal deductions, student loan interest, etc.

It's too bad the housing bubble has made it impossible for people like me to buy a home unless I want a suicide loan. It's also too bad I can't deduct the portion of my rent that goes to pay my landlord's interest on his loan or the property taxes. I could've gotten a nice refund .

I don't want it to sound like sour grapes, but the current property tax, mortgage interest deduction really benefits the middle-aged while hurting the younger generation who can't afford houses in the bubble market. Sorry for ranting .

Michigan gives you a credit for renting, as well.

 

[Cal166]

OWE

FED: $1,919
NY: $541

 

[BigDH01]

Originally posted by: iamwiz82

Originally posted by: BigDH01

Originally posted by: iamwiz82

Originally posted by: BigDH01

Originally posted by: iamwiz82

Originally posted by: j00fek
man all of you that get lots back must not get paid that much

or have some kidz

Deductions. We had just under $30,000 in them.

How did you get 30k in deductions? Was it mostly children, home, medical? I need to learn how to get these huge refunds .

No kids and not enough medical deductions. It was mostly in the house, property taxes, lots of donations, personal deductions, student loan interest, etc.

It's too bad the housing bubble has made it impossible for people like me to buy a home unless I want a suicide loan. It's also too bad I can't deduct the portion of my rent that goes to pay my landlord's interest on his loan or the property taxes. I could've gotten a nice refund .

I don't want it to sound like sour grapes, but the current property tax, mortgage interest deduction really benefits the middle-aged while hurting the younger generation who can't afford houses in the bubble market. Sorry for ranting .

Michigan gives you a credit for renting, as well.

I need to move . I still wish the federal government would offer something. I would buy a house in a heartbeat if I wasn't trying to follow the "only buy a house that costs 2.5-3x the annual income of the household." I don't know where you can still do that, especially when there's only one income earner.

 

[iamwiz82]

Originally posted by: BigDH01

I need to move . I still wish the federal government would offer something. I would buy a house in a heartbeat if I wasn't trying to follow the "only buy a house that costs 2.5-3x the annual income of the household." I don't know where you can still do that, especially when there's only one income earner.

Pretty much anywhere outside of the major metro areas is like that. Personally I don't want to spend more than 2.5x income. Being house-poor doesn't sound fun, I dunno how people in socal do it.

 

[BigDH01]

Originally posted by: iamwiz82

Originally posted by: BigDH01

I need to move . I still wish the federal government would offer something. I would buy a house in a heartbeat if I wasn't trying to follow the "only buy a house that costs 2.5-3x the annual income of the household." I don't know where you can still do that, especially when there's only one income earner.

Pretty much anywhere outside of the major metro areas is like that. Personally I don't want to spend more than 2.5x income. Being house-poor doesn't sound fun, I dunno how people in socal do it.

It's getting bad, even around here. I suspect that capital flight is occurring to the midwest. People who can't afford or lost money in the major bubble areas are flocking to cheaper areas, raising our housing prices. There's not much here under 125k. Mostly condos. This is surprising considering the average household income in this area is probably around 40k. And this is only because we are near a university, which is the largest employer around here. Luckily, it looks like the bubble is bursting on the coasts, so hopefully we will see some relief soon.

 

[NetGuySC]

$5675 Federal
$1026 State

 

[episodic]

I owe right at 700$. Freaking insane.

 

[shocksyde]

Federal and state combined = $350 refund

That's as close to 0 as I've ever gotten.

 

[new2AMD]

Originally posted by: new2AMD
$2315

Fed - 2064
State - 372
Total = 2436

For a difference of: 121 (Not a bad guess)

 

[fallenangel99]

Fed = 850, State = 150

Going to put it towards my '07 Roth Ira

or.. just spend it

 

[zoiks]

I owe roughly around $3k.