I learned something new today... and don't laugh... I didn't know what above the line deductions were... I thought you had to itemize to get them... I now stand more informed... which makes me think i'll be taking the standard next year too!
Standard deduction for married couples: $11,600.00
Personal for South County Girl: $3,700.00
Personal for future South County Boy: $3,700.00
With the above the line deductions, we'll be able to deduct South County's boys moving expenses in ADDITION to the standard deduction... Bueno! 16.5 cents a mile..
We also finally have a shot at the SAVERS credit if we get a combined AGI of under $53,000.00 for putting money in our Roth IRA's.
for 2012 we may even get to look at education expenses!
I thought that you could only deduct moving expenses if you moved because of a job. If you move because you want to and don't have a job lined up, I didn't think you could take that deduction. Might want to check it out.
ReplyDeleteKeith is moving for a job. We have something lined up for him in California which is why he's moving out here now, as apposed to Late May/June ish.
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