Off the Hook
Apr. 1st, 2008 01:18 pmI've completed my jury duty obligations by virtue of a mid-morning check of the web site. So back to the salt mines. I spent my lunch hour reviewing the printouts from Turbo Tax. Somehow my writing royalties have managed not to end up in the right place (which I've had my hand slapped for before, so I know I need to get it right). And for some reason there's a spot where it's counting my entire gross income from the 1040 as "business income" on a worksheet for calculating some limitation or other rather than pulling the Schedule C gross income. It doesn't affect the taxes, but it just looks wrong. There are two miscellaneous expenses (one for the rental property, one for the publishing) that I think I'm going to split out into the "other" category so I can annotate them. But other than that, things ended up in the same spots as on last year's forms and all the calculations look right. Eventually I should put in for changing my withholding based on the ways that the rental property affects what I owe, but I think it's going to be several years before I have a good idea of what the baseline is going to be and I'm lazy enough to prefer letting the government earn interest on my withholding to figuring out how to cough up a chunk of change if I underestimate.