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Posted by jo on January 7, 2008, 9:46 am
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Does this deduction work on a cash basis or is it tied to the year for
which the return is being filed. For instance, if I delay buying my
2006 Tax software to 2007, is it a deduction for 2007 or should it
have been a deduction on my 2006 return? (I believe it goes on a
cash basis, but just trying to make sure). Related: Same first
scenario but then I buy my 2007 software also in 2007 to do early
estimating. That means I've bought two tax packages in the same year,
but they apply to different tax years. Do I deduct them both on the
2007 form?
And the make this even more convoluted, while I bought the 2007
software in 2007, today I found I was eliglble for a $5 discount. To
give me this credit, the store treated it in their system as a return
and a repurchase at the lower price. So now it will look like I
bought it in 2007 on one credit card statement andreceipt and in 2008
on another. Actually I'm not sure of the receipt situation... I'll
have to check to see if I ended up with all receipts or just the final
one in this year. If that's what I end up, do I just ignore the 2007
initial purchase record?
I know this is trivial compared to other questions, but I'm curious
what the right way to handle it is.
Thanks.
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