(no subject)
Jan. 25th, 2015 04:35 pmTrying to be the least bit productive today I started in on my taxes. I was, thankfully, unable to finish because my stocks' year-end summaries are not yet published (I could compute from my records, but would far prefer to see the records the IRS will see). What I discovered is my taxes will be a lot more tedious / difficult / of a nightmare experience because I have:
1. a home purchase / settlement closing costs to deduct
2. my VA condo interest plus DC home interest (since no property is rented, I'm running with all 100% deductible)
3. Split state taxes from DC and VA because I thought I was going to live in DC...
4. Huge tax partial state tax payment back to VA when I realized that's where I lived until the end of the year and how out of whack my payments were. Related, next year's deduction dance of w2 state tax paid vs. refund for both VA and DC.
5. Deductions for houses in both DC and VA generally (generally mortgage interest)
6. Computing interest from my 2nd mortgage held by my mom! That's deductible and she aint doin' no paperwork for me.
7. Huge numbers of stock sales.
Gonna be a hoot this year.
Next year - far more hooting:
1. Move to DC
2. More stock sales (though far less than this year)
3. More split state taxes, combined with the issue of over-payment and refund from DC
4. 2 rental properties or more, to include expenses of setup and upgrade vs. repair, expenses generally, income, depreciation, et al ... that's going to be a mess
1. a home purchase / settlement closing costs to deduct
2. my VA condo interest plus DC home interest (since no property is rented, I'm running with all 100% deductible)
3. Split state taxes from DC and VA because I thought I was going to live in DC...
4. Huge tax partial state tax payment back to VA when I realized that's where I lived until the end of the year and how out of whack my payments were. Related, next year's deduction dance of w2 state tax paid vs. refund for both VA and DC.
5. Deductions for houses in both DC and VA generally (generally mortgage interest)
6. Computing interest from my 2nd mortgage held by my mom! That's deductible and she aint doin' no paperwork for me.
7. Huge numbers of stock sales.
Gonna be a hoot this year.
Next year - far more hooting:
1. Move to DC
2. More stock sales (though far less than this year)
3. More split state taxes, combined with the issue of over-payment and refund from DC
4. 2 rental properties or more, to include expenses of setup and upgrade vs. repair, expenses generally, income, depreciation, et al ... that's going to be a mess