Stimulus payment affecting 2008 return?
Ok, I've been googling all morning and I cant seem to find an answer on this because I usually owe taxes, I dont get a refund and all the "questions" seem to be about refunds. I've found a few questions online like mine though, but no answers, Im wondering if anyone here in the US is in the same boat.
My situation in 2007 Dave and I owed 566 in federal taxes, we have no deductions other than the standard ones, we dont have enough to itemize. We received a 1200 stimulus check.
My situation in 2008 Because Dave stayed in the country all year he had way less overtime and our income was a little over 10k less, yet for some reason we owe 1222 bucks....how in the world is this possible? Am I missing something somewhere? We dont qualify for "recovery rebate" because we received the full 1200 last year, so the amount Im putting on line 70 of the 1040 is 0. I even ran it thru the free version of turbo tax (havent bought it for this year yet) and it says the same thing.
So my question is why do we seem to owe the amount of the refund and has anyone else here that in their own situation?
***edit after comparing the 2007 and 2008 tax table, there is only 20 dollars difference in the adjusted gross income amount Im looking at
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I want the diabetic plan that comes with rollover carbs. I dont like the unused one expiring at midnite!!
Last edited by ShaniFaye; 01-26-2009 at 06:35 AM..
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