Hey Bryan,

How are your taxes going...

I've been playing around with mine and if I use schedule A (which comes out less than the Federal standard deduction) the itemized deduction is still higher than the OK state standard deduction. This creates less tax with the state but since my state tax is still less than the $1500 hybrid state credit it leaves more of the credit available for next year's taxes (as you know the OK state hybrid credit can carry forward for 2-3 years). Also with the limits on the Federal hybrid credit not being able to excede your Federal tax amount my Federal bottom line is the same either way. It's one of those weird little tax conundrums. Also since my itemized deduction is less (by more than my state withholding amount) than the standard deduction I should not have to claim my OK state tax refund as income on next year's 1040.

I hope this all made sense... of course everyone's set of circumstances are different this is just the result of mine.

Happy Taxes everyone...

p.s. I may loose about $40 of my hybrid credit depending how things work out but all in all I'm happy with what I'm getting.