taxes

Schedule L and Schedule M are gone

10 new tax law changes to know
Slide 11 of 11
Back
Tax return laws

Don't look for Schedule L or Schedule M tax forms this year. Neither applies to 2011 taxes.

Schedule L previously was used to figure additions, such as property tax or auto sales tax payments, to a taxpayer's standard deduction. These tax claims weren't allowed in 2011, so Schedule L is no longer in use.

Similarly, the Making Work Pay tax credit expired in 2010 and was replaced by the 2 percentage point cut in the employee payroll withholding tax. Just like the Schedule L, Schedule M is gone when it comes to 2011 tax returns.


Slide 11 of 11
Back

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
advertisement
advertisement

Connect with us