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Author: YewGuise Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121144  
Subject: Re: The IRS refund is wrong? What's my next step Date: 3/28/2011 11:04 AM
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...You did quite a bit of extra work
... All to save $40 or less that it would cost to buy the package version of TurboTax,


Maybe OP did calc's by hand to save money, but personally, I wish more people would do their taxes by hand, even if they then use software, because it's a great way to understand how the calculations are done.

My DD (who had great SAT's both math and verbal, and whizzed through calculus) gets upset every year because her bonus check is so heavily taxed. She doesn't understand that if in fact she's overtaxed, she'll get it back in her refund anyway; and also doesn't understand the concept of marginal tax rates. These are VERY simple, basic, concepts, and I'm appalled at her ignorance. Granted, if my explanations were clearer, she'd get it. But the underlying problem is that she's never done her own taxes. She's taken them to H&R Block when they did them for free, then she took them to an accountant her first year of having deductible mortgage interest, and since then she's used TurboTax, just plugging in the numbers and trusting that the results are OK.

She feels her time has value, which it does, but I feel the learning experience would also have value.
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