Thursday, March 20, 2008

Finished Taxes

Okay, I finally sat down and finished up our taxes today. I had started them a few weeks ago but couldn't finish them until I got info from our rental company. I talked to a tax professional and because of the depreciation issue on the house we sold in WA, I also had to do amended returns for 2004 and 2005. So I guess knowing that I had so much to do still on it, I kind of stalled.

Well, we had workers here at the house all day so while I was waiting around, I decided to tackle the taxes and see what I came up with. I was able to get the two amended returns out of the way pretty quickly although since I no longer had the software for the 2004 ones, I had to fill out forms from the Internet and print them based on my PDF file for the tax pages I filed in 2004. It wasn't that hard once I found the forms.

When I had those two done, I could do the final stuff on our current year and while I am not getting as much back as I had hoped, I think we fared better than we could have. We were able to get a capital gains exception on both houses we sold last year rather than on only one. I did have to pay gains on the depreciation but if we had had to count one of the houses too, we would really have paid.

So that is my exciting day....aren't you all glad you checked in?


Chicken said...

Hey that is cool that you take a CG hit.

Haha said...

I wondered why you have been so quiet for the past few days!