Expenses 2004
I made about $35,000 & I paid out about $3700 in federal taxes last year from my job. With all my rehabs on rental properties I have about $35,000 in expenses.
Basically, I was wondering is it possible to get more back for my tax return than I paid out?
My accountant is doing my taxes now, but I am just anxious to know if I should expect nothing more than my $3700 back or if I can expect more.
JB
[addsig]
You cannot receive a tax refund > the total amount of taxes paid in to the state or federal government.
There may be the possibility depending on how you file your taxes to carry over some of those deductions to future years
You might try posting to the legal section of this site. Might not get many responses on the tax side.