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ttax3
New Member

After my "taxes owed" goes to 0, is there any point in entering more deductions?

While I am over the level where I need to file a return, TT quickly decided that my "refund" was zero.  I haven't yet entered a number of my deductions (tax prep, medical insurance/expenses, charity, etc), but is there any point?  Why chase around after all these numbers if they aren't going to make anything better for me?  And yes, I'm quite certain there is no possibility of any type of refund.

In the unlikely event that the IRS decides there's a problem with my return and that I owe them money, I'm going to essentially have to redo everything anyway, aren't I?

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Accepted Solutions
SueT
New Member

After my "taxes owed" goes to 0, is there any point in entering more deductions?

You are certainly not required to enter any deductions if you don't want to. And you're correct, if you know there's no possibility of a refund, entering them won't change anything for you. The IRS will never care if you omit deductions.

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1 Reply
SueT
New Member

After my "taxes owed" goes to 0, is there any point in entering more deductions?

You are certainly not required to enter any deductions if you don't want to. And you're correct, if you know there's no possibility of a refund, entering them won't change anything for you. The IRS will never care if you omit deductions.

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