Sunset
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
My new pet peeve is the black box of tax software.
After doing our taxes, I realized the gov't needed more $$$, so added in our accumulated I-bond interest so we won't have an I-bond interest bomb later.
This added ~$6K to our income (only bought I bonds recently).
Our Fed income went up $9K and so did our State taxable income
(I-bonds are State Tax free).
I wasted a few hours playing with the numbers , etc, as there is no explanation in H&R when you input a value.
Example: You added $$ in interest, this raised your ______ because ______
Finally I figured it out: It dropped our rental loss that we could claim due to the rise in Federal income.
H&R only has a stupid, generic explanation with graphics that does not explain why things changed when new values are input.
After doing our taxes, I realized the gov't needed more $$$, so added in our accumulated I-bond interest so we won't have an I-bond interest bomb later.
This added ~$6K to our income (only bought I bonds recently).
Our Fed income went up $9K and so did our State taxable income
(I-bonds are State Tax free).
I wasted a few hours playing with the numbers , etc, as there is no explanation in H&R when you input a value.
Example: You added $$ in interest, this raised your ______ because ______
Finally I figured it out: It dropped our rental loss that we could claim due to the rise in Federal income.
H&R only has a stupid, generic explanation with graphics that does not explain why things changed when new values are input.