TAX: There are no stupid questions….
by James
With tax season in full swing I’d like to offer some practical help.
I’ve added a button in the sidebar of my blawg for asking questions. Click on it to send me your thoughts, questions or comments about taxes and I will discuss them in future posts. I will do my best to answer as many questions as I can.
Every question, no matter how small, may help someone else. Feel free to ask anything and I will do my best to answer.
Here’s to a (hopefully) less stressful tax season.
Y’all two are so sweet. Wish I had a question. Anything. But Mark does all that stuff.
He asked me a question, though: where are all the Good Will donation receipts?
ROFL! Leslie, don’t get him started on receipts. It will remind him how bad I am at giving them to him and start an argument. How do I erase this last comment? Lisa~
Here’s a REAL question! Daughter in first year of college. She did student loans, got a small athletic scholarship, and balance paid with 529 funds. WHAT THE HECK DO WE DO ON OUR TAX RETURN? I know there’s the Hope credit (or something like that) but isn’t that limited to once or twice? I thought there was some other credit that could be claimed, in lieu of or after the Hope thing? Do we claim it as the parents of dependent in college on OUR return? And is her scholarship income to her so she needs to file a return? Same thing with 529 distributions; income to her shown on her tax return? Oh I thought I was comfortable doing taxes but this college stuff is throwing me for a loop….
Just read what you wrote Lisa–too funny!