Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next
Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121150  
Subject: Re: $600 argument Date: 1/30/2002 7:59 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 3
1.Seems to me I read that the $600 rebate was to be shown on this year's 2001 IRS form. My spouse says it was a rebate of last year's taxes???
Who is correct?


Neither of you.

2.Also, I thought from my reading of various posts here that if we received the $600 and had to pay the IRS (we always have to pay), we have to count the $600 in our payment to the IRS?
Is this correct?


No.

3.and conversely, if we have a refund coming (never happen, sigh)the $600 is to be counted as part of the refund - already received - so we actually get $x amount back less the $600 we got already??
Is this correct?


No.

If you trust that the IRS got it right (they did), just look at the instructions for line 47 of the 1040 and don't try to make sense of it. From your posting I infer that it's not going to affect your return at all, and you have the $600 in your pocket. Don't spend it all in one place.

Phil Marti
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Post of the Day:
Value Hounds

Kate Spade's Wild Ride
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement