I just did my tax's 1040 I used turbo tax, I had paid back unemployment funds I had received in 06. turbo tax

did not have a deduction for this? How can i adjust my income to reflect this deduction?

v p thanks for ;lyour answer. I filed a short form. this was income from 06 that I paid back in 07. I should take this money off my gross income. thanks again

You don't adjust your income.

If you paid less than $3000 back, this is 2% itemized deduction--and then only if you itemized.

If you paid more than $3000 back you had a choice of a deduction or a tax payment credit.

Tags

　　Investment Account 　　Invest Money 　　Invest in Gold 　　Invest Fund 　　Income Fund 　　HYIP 　　High Yield 　　Hedge Fund

Related information

Any one able to explain SEP and how to go about setting it up if funds are limited?

A SEP stands for Self Employed Pension but it can be for employees as well as independent contractors (self employed). You'll need to fill out a 5304 or 5305 form in order to establish a SEP o...

I need assistance from the government, I have a small business, a no No funds now, A gran prefer?

first off do not pay any money for those programs who promise you grant money. They are scams. I have paid twice and never received anything. I call the company and the line is disconnected. Cal...

Im 14, when can i start investing or start buyimg assets, Mutual funds, stocks, all of those things that ...?

At age 14, it depends on your parents/relatives. Basically, they can open up a custodial account for you and let you do what you want. Talk to them about it as well as some investing firm (Jones, S...

How does investing in real estate compares to investing in mutual funds?

If you're close to retirement age (within 10-12 years), play it safe and go 401K. If you have time to get into real estate, go with the multifamily. Thirty years ago, home values were abou...