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The numbers are in...

Posted by on Jan. 30, 2013 at 6:55 PM
  • 14 Replies
3 moms liked this

Finally got all of our tax forms and the time to actually DO my taxes.  Looks like a $3500 (and change) tax refund this year.  Yeah :)

by on Jan. 30, 2013 at 6:55 PM
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Replies (1-10):
christaberk
by Christa on Jan. 30, 2013 at 9:02 PM
I'm worried about ours. We did a deed in lieu of foreclosure last year on our home in Jacksonville. I think they may say that the amount the bank let us walk away from is income, and which was untaxed. If so, that is 60,000 that we will have to pay taxes on.
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flutter523
by Tracy on Jan. 30, 2013 at 9:16 PM
I'm anxious to do mine so I can get the nursery done but I'm still waiting on a w2 from cm
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ivf_blessed
by Bronze Member on Jan. 30, 2013 at 9:59 PM

 

ouch!  hope that's not the case!

Quoting christaberk:

I'm worried about ours. We did a deed in lieu of foreclosure last year on our home in Jacksonville. I think they may say that the amount the bank let us walk away from is income, and which was untaxed. If so, that is 60,000 that we will have to pay taxes on.


 

cjsmom1
by Platinum Member on Jan. 30, 2013 at 10:01 PM

That's great!! I hope I get a good refund this year.

trfgirl56701
by Melissa on Jan. 31, 2013 at 9:20 AM

We're still waiting for two w2s. Dh said he wished he could just file with what we have since we'd get about 5000 back. He thinks that his other w2 will drop it quite a bit since we're probably in a higher tax bracket. Guess we'll see what happens.

deccaf
by Platinum Member on Jan. 31, 2013 at 9:45 AM

Nice.  I am still waiting on one form.  Then I will make my appointment. 

deccaf
by Platinum Member on Jan. 31, 2013 at 9:47 AM

 Federally, I think you are correct and it will be considered untaxed income.  I know California is forgiving it though, so check with your state (if you pay state income tax) and see if you can get if forgiven from state at least.


Quoting christaberk:

I'm worried about ours. We did a deed in lieu of foreclosure last year on our home in Jacksonville. I think they may say that the amount the bank let us walk away from is income, and which was untaxed. If so, that is 60,000 that we will have to pay taxes on.


 

leahbeah143
by Leah on Jan. 31, 2013 at 10:02 AM

I need to find out if I'm needing a W2 from CM or not, then I should be able to get the ball rolling.

SlightlyPerfect
by on Jan. 31, 2013 at 10:17 AM

Well, sort of. Wouldn't that be part of the capital gains tax?

If you moved for work, you shouldn't have to pay the capital gains tax.

Quoting christaberk:

I'm worried about ours. We did a deed in lieu of foreclosure last year on our home in Jacksonville. I think they may say that the amount the bank let us walk away from is income, and which was untaxed. If so, that is 60,000 that we will have to pay taxes on.


slightlyperfect

Nighttiger
by Ashley on Jan. 31, 2013 at 11:08 AM
Cool :) we haven't received all of our forms yet but I'm expecting break even like last year. We will probably not submit ours until march
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