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
Tax breaks for life's big events
MORTGAGE REFINANCE AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed 3.82%  0.02 3.80%
15 year fixed 3.05%  0.04 3.01%
5/1 ARM 3.19%  0.02 3.17%
 
View Rates in your area Next
Product Rate Change Last week
30 year fixed refi 3.90%  0.03 3.87%
15 year fixed refi 3.12%  0.01 3.11%
10 year fixed refi 3.15%  0.02 3.13%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.68%  0.03 2.65%
48 month used car loan 2.76%  0.11 2.87%
60 month new car loan 3.12%  0.01 3.13%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 1.07% --0.00 1.07%
2 Year CD 1.18% --0.00 1.18%
5 Year CD 1.76%  0.01 1.77%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.86% --0.00 15.86%
Cash Back Cards 16.37% --0.00 16.37%
Low Interest Cards 11.10% --0.00 11.10%
 
Next
advertisement

Connect with us