Tax Planner

[TAXBILLY]

Can someone please validate what these old eyes are seeing before I call ATX support:

The tax planner shows the 2009 standard deduction for MFJ as $12,400. I believe it should be $11,400.

Also there is no line for the RE tax to be added.

taxbilly

[Wayne Brasch]

TAXBILLY,

I have Version 12 of the 1040 Tax Planner and it shows the Standard Deduction for MFJ for 2009 to be $11,400 and $10,900 for 2008.

Wayne Brasch

[Lion EA]

Over 65? RE taxes? Don't use ATX so can't check.

[kcjenkins]

Mine shows 11,700 as well. Unless one tp is over 65, in which case it is 12,800. Both over 65 it is 13,900.

And there is a blue box, just above the line 40 for adding any deduction which is allowed to be added to standard.

[TAXBILLY]

So Wayne shows 12400, KC shows 11700 and mine shows 11400.

Something screwy here.

taxbilly

[Wayne Brasch]

So Wayne shows 12400, KC shows 11700 and mine shows 11400.

Something screwy here.

Taxbilly

Taxbilly,

I said mine shows $11,400. I got that from just entering a 2 near the top of the Planner to indicate MFJ. With no other entries then, the Standard Deduction near the bottom shows $11,400 for 2009.

Wayne Brasch

[TAXBILLY]

Sorry Wayne. I'm confusing myself.

When I download the 1040 tax planner as a new return it shows $11,400.

When I add it to the existing return (MFJ both under 65) it shows $12,400.

taxbilly

[Joel]

taxbilly,

In 2009 the deduction for RE taxes is on the new form Schedule L. That is why there is no line to add the taxes.

When you add the tax planner to an existing return (with the extra $1000 for taxes on their 2008 return) I ma guessing that the program uses that figure for calculating the 2009 standard deduction. This is an assumption that the Schedule L will be used for RE taxes in 2009.

[TAXBILLY]

You're right Joel. I duplicated the return, discarded the tax planner, changed the entry for re tax and then added the tax planner and it did show the new RE figure included with the standad deduction. Mystery solved.

taxbilly