And the IRS is giving me more money than I asked for!
My taxes have always been pretty simple as a single young person who doesn’t make that much money. But in my defense, this year it was a little trickier because I sold some stocks (before the huge economy crash, thankfully) so I had to do the whole capital gains worksheet, and I also received some income with no taxes withheld that I got a 1099-MISC for. Of course this has nothing to do with the mistake I made, but my defense is that sorting it all out it gave me enough of a headache that I missed an important line on my 1040.
Today I checked my refund status on the IRS website today and it mentioned that they found mistakes on my return. It was line 40 of the 1040 form where it asks “Itemized deductions (from Schedule A) or your standard deduction”. For single people the standard deduction is $5,450.
Unfortunately while going over the form I only read the first part of that, and since I have no itemzed deductions I put 0. :smack:
So now instead of the ~$100 refund I thought I was getting I’ll get about $400. Hooray for more money! Hooray for the IRS! (how often do you get to say that?)