Using "Budget Option" For Utilities??

[Crazy8]

I use the time/space percentage to deduct some of my utilities. I switched to using the utility companies budget option where I pay the same amount every month all year long - is that the amount I claim on my taxes???

I thought it would be the budget option amount but when I went to the utility co. website to print my billing history it only tells me the amount CHARGED for each billing cycle, not the amount PAID each month. (for instance with my gas bill I paid $100 even when I only used $50, but then another month I'll pay $100 when I use $150).

Should I use my bank statement as a "receipt" instead of using the company's billing history??? I don't get paper statements from them each month.

[TomCopeland]

deducting utilities

You can deduct what you actually paid, not what you are charged. So, if you pay $100 a month, use $1,200 as your deduction (you must apply your time-space % to this amount), even though your actual bill is more or less than this. Use your bank statement as evidence of paying.

[dave4him]

You can deduct what you actually paid, not what you are charged. So, if you pay $100 a month, use $1,200 as your deduction (you must apply your time-space % to this amount), even though your actual bill is more or less than this. Use your bank statement as evidence of paying.

Im still confused on the time space % thing... i hate math

[TomCopeland]

Time-Space %

Check out my article:http://www.tomcopelandblog.com/2011/...tage-quiz.html