N
NYardy
Guest
TaxMan said:I will draw a picture for you guys and girls.
I love this forum..so...I will put with this nonsense. This is my way of giving back. Hell, I even used the bootleg copy of turbotax on this board..
When your deductions and exemptions is greater than your taxable income. Your tax is zero. Check out a 1040 tax return.
You and your spouse may deduct up to $4000 in qualified higher expenses if your joint adjusted gross income is $130,000 or less, or up to $2000 if it's $160,000 or less.