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Subject:  Thanks Fool for saving me $200 Date:  4/26/2004  5:19 PM
Author:  Rhodnius Number:  71648 of 129400

Big thanks to the Fool (TMFTaxes in particular) for saving me $200 on taxes this year! This happened thanks to the Retirement Savings Contribution Credit, described here:

I would never have found out about that without reading TMF. My original AGI was $25,400, over the limit for that credit for a single filer. TurboTax wouldn't have known I still could get it. I qualified for it by putting $1000 of my IRA contributions into a Traditional IRA instead of my Roth, to lower my AGI below the threshold.

TurboTax alone would not have gotten the credit for me - it can just ask you what you did and give you the completed return. I'd wager that even most professional tax planners wouldn't've realized and informed me that I could get the credit by allocating IRA contributions differently.

Just goes to show once again that there's no substitute for being in command of one's own finances. Thanks again, Fool!
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