Not at all! That's what the problem was! I got my beer and travel money and it wasn't supposed to be taxed! You're not supposed to have pay taxes on Beer and Travel money, doncha know? Just ask HumDrumThoughts, he'll tell ya!
Strange but as neither Hubby or I know anything about finances except how to balance a check book, when we bought our home all the gobble gook to said conditions was not easy to understand.
So as we use H&R Block we found to our dismay a few years ago we could not take any take deduction on our home for interest. Seems that we had paid off the interest first before the cost of the home. We had to come up with $10,000 in deductions and we were both covered with health insurance so we could just file a simple return.
What ever happend to double pay taxes where you can deduct any and all federal taxes that have all ready been paid.??? Gas, heating, phone, cigarettes and booze.?? I know we can deduct our losses on lottery and scratch tickets but no more interest on credit cards or auto loans.
Tax time and very confusing even for the Tax Lawyers. Now to take a Charity donation off taxes one has to some how get a receipt from local churches, the Santa with the bell on Xmas, anything donated to Good Will, who decides what the goods are worth???
Very frustrating , we do want to pay our fair share but few want to over pay on taxes.