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Did you miss something on your 1040/1040a?

Discussion in 'Money Talk$' started by exscentric, Feb 9, 2010.

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  1. exscentric

    exscentric Well-Known Member
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    Just a heads up. There is a deduction on IRS forms that is labeled rather cryptically and I totally missed it. My son uses software and it picked it up, but several where my wife works totally missed it.

    On line 40 of 1040a read the instructions. Many Americans should get all or part of 800 dollars in refund due to the "Stimulus" or whatever they called it.

    I don't know what line it is on the 1040 form.

    It appears as "Making work pay and government retiree credits."

    This is bordering on a political discussion but it was almost as if they were trying to hid it. To put it on a line about government retiree credits seems rather strange and who has heard of "making work pay"

    Anyway if you missed it, do an amendment - oh the fun that was since we have state income tax that had to also be amended. :tonofbricks:
     
    #1 exscentric, Feb 9, 2010
    Last edited by a moderator: Feb 9, 2010
  2. ktn4eg

    ktn4eg New Member

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    Depending on your situation, you may also have to fill out Schedule M.

    Check your tax form(s) instructions to see if you need to use Schedule M.

    If you do, you would then have to enter the net result from Schedule M on line 63 of Form 1040 or line 40 of Form 1040A.
     
    #2 ktn4eg, Feb 10, 2010
  3. Crabtownboy

    Crabtownboy Well-Known Member
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    It all depends on other factors:
     
    #3 Crabtownboy, Feb 10, 2010
  4. SaggyWoman

    SaggyWoman Active Member

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    I love to do mine electronically and efile.....glad it caught it, though you should be aware if you got any because you are on social security/disabilibity, it will be cut back by the 250.
     
    #4 SaggyWoman, Feb 14, 2010
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