4th Annual Tax Thread - 2006

[Muse]

Sorry if this has been posted. I thought I saw a reference to the OP, but I just basically read it and saw no mention of free efiling. I thought I saw something to the effect that some people qualify. Personally, I'm using Turbotax Deluxe, and this year they aren't providing any free filing. I don't want to pay $15 to efile, and if I can't get it done for free or close to it, I'll just send my returns to IRS and state tax board. Thanks for information.

 

[laugh]

I am a resident in WA for entire 2006, but I have a rental property in CO. Do I need to fill CO tax return? I did file CO state tax last year, because I was partially CO resident, and partially WA resident.

I ran CO state tax this year and it turned out to be zero return. But I am confused if I still need to file CO tax because of the rental property?

Thanks.

 

[EagleKeeper]

Originally posted by: Kelemvor
Can't e-file if I donated to GoodWill?

I'm using TaxCut and when I got to the eFile stage, it says I can't efile because the 8283 form for itemized deductions of non-cash donations is too big. We went to GoodWill many times during the year and since each entry is dated, it lists a total of 18 donations. The form only has boxes for 5.

Any way around this so I coudl eFile and still claim all my itemized stuff? This pisses me off since I bought the version that includes 3FIling for $30 extra and now can't use it.

Just put in the total for Goodwill as one lump sum.
When E-Filing, only the sum of all charitables gets transfered. The line items are for when you printout the supporting documents for your records.

If TT has the option to create a list when you look at the Schedule A form directly, you can try that way.

 

[Vonkhan]

Will the IRS get mad at me if I owe them $217?

Should I send in my 1040-EZ without the payment?

Or should I file for an extension until I pony up some cash?

I know, it's only $217 but I'm REALLY strapped for cash atm

 

[Kelemvor]

Originally posted by: EagleKeeper

Originally posted by: Kelemvor
Can't e-file if I donated to GoodWill?

I'm using TaxCut and when I got to the eFile stage, it says I can't efile because the 8283 form for itemized deductions of non-cash donations is too big. We went to GoodWill many times during the year and since each entry is dated, it lists a total of 18 donations. The form only has boxes for 5.

Any way around this so I coudl eFile and still claim all my itemized stuff? This pisses me off since I bought the version that includes 3FIling for $30 extra and now can't use it.

Just put in the total for Goodwill as one lump sum.
When E-Filing, only the sum of all charitables gets transfered. The line items are for when you printout the supporting documents for your records.

If TT have the option to create a list when you look at the Schedule A form directly, you can try that way.

So I can just add up all the time we went to each charity and put one line item for each one regardless of the fact that they were on all different dates? That would get me down to the number allowed but I wasn't sure if that was "legal" or not. heh. Currently I have an entry for each date even though most of them were at the same place. I didn't know if I could combine them or not or if it mattered.

 

[EagleKeeper]

Originally posted by: laugh
I am a resident in WA for entire 2006, but I have a rental property in CO. Do I need to fill CO tax return? I did file CO state tax last year, because I was partially CO resident, and partially WA resident.

I ran CO state tax this year and it turned out to be zero return. But I am confused if I still need to file CO tax because of the rental property?

Thanks.

That is a state tax question - You actually have income from 2 states; it would seem that you should file for both. You should contact either CO or WA for confirmation.

 

[EagleKeeper]

Originally posted by: Vonkhan
Will the IRS get mad at me if I owe them $217?

Should I send in my 1040-EZ without the payment?

Or should I file for an extension until I pony up some cash?

I know, it's only $217 but I'm REALLY strapped for cash atm

You can file a request for payments with your paperwork.

 

[FoBoT]

people affected by the storm in the NorthEast are getting 48 extra hours to file due to the storm

http://www.irs.gov/newsroom/article/0,,id=169523,00.html

 

[EagleKeeper]

Originally posted by: Kelemvor
Can't e-file if I donated to GoodWill?

I'm using TaxCut and when I got to the eFile stage, it says I can't efile because the 8283 form for itemized deductions of non-cash donations is too big. We went to GoodWill many times during the year and since each entry is dated, it lists a total of 18 donations. The form only has boxes for 5.

Any way around this so I coudl eFile and still claim all my itemized stuff? This pisses me off since I bought the version that includes 3FIling for $30 extra and now can't use it.

/correction:

Combine each donatino for a place into one entry on the Form 8283 - you can keep your own internal records showing seperate dates.

 

[EagleKeeper]

Originally posted by: FoBoT
people affected by the storm in the NorthEast are getting 48 extra hours to file due to the storm

http://www.irs.gov/newsroom/article/0,,id=169523,00.html

IR-2007-89, April 16, 2007

WASHINGTON ? Victims of the major storm affecting several Northeastern states on Monday, April 16 will have two additional days to file their tax returns beyond the April 17 tax deadline, the Internal Revenue Service announced today.

Taxpayers directly impacted by the storm have until midnight April 19 to meet their tax filing obligations without incurring late filing and payment penalties.

Across the Northeast, there have been power outages and public transportation problems making it difficult in some cases, if not impossible, for some taxpayers and tax professionals to meet the April 17 filing deadline.

?Because this unusually forceful storm hit within 24 hours of the filing deadline, we are giving affected taxpayers 48 additional hours,? IRS Commissioner Mark W. Everson said.

Affected taxpayers can mark their paper tax returns with the words ?April 16 Storm.? Taxpayers who e-file their returns can use their software?s ?disaster? feature, if available.

Gut feeling is that anyone who files into Andover, Mass will be allowed until the 19th.

How far south this grace period will be extended to beyond the Andover filing region is unknown. Those that file into Atlanta or Cincinati will probably not be allotted this grace period.

 

[Vonkhan]

Originally posted by: EagleKeeper

Originally posted by: Vonkhan
Will the IRS get mad at me if I owe them $217?

Should I send in my 1040-EZ without the payment?

Or should I file for an extension until I pony up some cash?

I know, it's only $217 but I'm REALLY strapped for cash atm

You can file a request for payments with your paperwork.

thanks :thumbsup:

 

[Kelemvor]

Originally posted by: EagleKeeper

Originally posted by: Kelemvor
Can't e-file if I donated to GoodWill?

I'm using TaxCut and when I got to the eFile stage, it says I can't efile because the 8283 form for itemized deductions of non-cash donations is too big. We went to GoodWill many times during the year and since each entry is dated, it lists a total of 18 donations. The form only has boxes for 5.

Any way around this so I coudl eFile and still claim all my itemized stuff? This pisses me off since I bought the version that includes 3FIling for $30 extra and now can't use it.

TaxCut Premium handles much more than 3. I just checked on a return that had 12 non-cash entries. That return was e-filed with no problems.

Here's a pic of my Donations screen:
donations.jpg

When I try to efile, it says:

Sorry, you're note eligible to e-file your federal return this year for these reasons:

Only 2 copies of Form 8283 are allowed.

Because your federal return is ineligible, you will not be able to e-file a state return.

The 8283 form only has spaces for 5 individual donations and since I went through and entered each separate trip to each place as its own item, I need 4 copies of that form which is too many.

But if the dates don't really matter, can I jsut go back in and take the totals form each and change it from Individual entry to Bulk Donation and just put in the totals? Then I'd just have one line for each charity even though each would be representative of multiple dates?

Just want to make sure I'm understanding you right before I go change everything. heh.

Thanks.

 

[her209]

I just e-filed my returns with Turbo Tax. It say I have to wait 24-48 for acceptance or rejection confirmation. What if I don't get a confirmation before 11:59:59 04/17/2007?

 

[gr8snakee]

I recieved a 1099B from Smith Barney for ESPP.
The

91 shares @ 10.89
Sold when company was purchased @ 18.75 share

It shows I payed 477.75 in fed tax


Im assuming the following:
Box2 1706.25 gross proceeds less commissions
Cost Basis 990.99 based upon 10.89 x 91 shares

Since I payed 477.75 in fed tax (box 4) where would I report this? I would think there would be a place...but im no accountant. I have been doing my taxes since I was on my own. Thank for the great services you guys are providing

 

[EagleKeeper]

Originally posted by: Kelemvor

Originally posted by: EagleKeeper

Originally posted by: Kelemvor
Can't e-file if I donated to GoodWill?

I'm using TaxCut and when I got to the eFile stage, it says I can't efile because the 8283 form for itemized deductions of non-cash donations is too big. We went to GoodWill many times during the year and since each entry is dated, it lists a total of 18 donations. The form only has boxes for 5.

Any way around this so I coudl eFile and still claim all my itemized stuff? This pisses me off since I bought the version that includes 3FIling for $30 extra and now can't use it.

TaxCut Premium handles much more than 3. I just checked on a return that had 12 cash entries. That return was e-filed with no problems.

/edit - checked that these were cash entries - there were only 8 non-cash entries.

Here's a pic of my Donations screen:
donations.jpg

When I try to efile, it says:

Sorry, you're note eligible to e-file your federal return this year for these reasons:

Only 2 copies of Form 8283 are allowed.

Because your federal return is ineligible, you will not be able to e-file a state return.

The 8283 form only has spaces for 5 individual donations and since I went through and entered each separate trip to each place as its own item, I need 4 copies of that form which is too many.

But if the dates don't really matter, can I jsut go back in and take the totals form each and change it from Individual entry to Bulk Donation and just put in the totals? Then I'd just have one line for each charity even though each would be representative of multiple dates?

Just want to make sure I'm understanding you right before I go change everything. heh.

Thanks.

You are correct; change the indivigual donations to bulk.

I rechecked my comment - there were only 8 non-cash and 12 cash. therefore the problem with the 8283 Form apparently is valid.

 

[EagleKeeper]

Originally posted by: her209
I just e-filed my returns with Turbo Tax. It say I have to wait 24-48 for acceptance or rejection confirmation. What if I don't get a confirmation before 11:59:59 04/17/2007?

There is already a record of you attempting to file.

If there is a rejection due to an error in Tax ID#s, dependency or incorrect AGI from last year (3 main reasons for rejecting), your return was still marked as filed on the original date.

 

[EagleKeeper]

Originally posted by: gr8snakee
I recieved a 1099B from Smith Barney for ESPP.
The

91 shares @ 10.89
Sold when company was purchased @ 18.75 share

It shows I payed 477.75 in fed tax


Im assuming the following:
Box2 1706.25 gross proceeds less commissions
Cost Basis 990.99 based upon 10.89 x 91 shares

Since I payed 477.75 in fed tax (box 4) where would I report this? I would think there would be a place...but im no accountant. I have been doing my taxes since I was on my own. Thank for the great services you guys are providing

If you are not using TaxS/w; the 477.75 should be entered on line 64 of the 1040 in addition to any taxes shown withheld on the W2.

 

[cross6]

Ok so I don't have enough money to pay my taxes and today is the last day. What do I do? Should I still mail in my 1040 even though I can't pay?

 

[EagleKeeper]

Originally posted by: cross6
Ok so I don't have enough money to pay my taxes and today is the last day. What do I do? Should I still mail in my 1040 even though I can't pay?

This is the same question that Vonkhan asked yesterday.

 

[cross6]

Originally posted by: EagleKeeper

Originally posted by: cross6
Ok so I don't have enough money to pay my taxes and today is the last day. What do I do? Should I still mail in my 1040 even though I can't pay?

This is the same question that Vonkhan asked yesterday.

Mr high and mighty tax god

 

[DigitalWanksta]

I really don't have a question, but pardon me as I can't control my excitement. I'm a full-time college student, which means I'm broke as a joke. However, I found out today from the accountant that I will be getting roughly $530 back from taxes. YEeeeeeEEEHhHHHHAAAAAWWWWW!!!!

Sorry if this post upsets any of you who have to pay in this year. My heart goes out to you folks as I'm usually apart of the crowd of payers

 

[scb175]

Well, I lived in North Carolina from Jan. 1 2006 through April 1 2006. I worked at a full time job and made $8000. I then moved to Pennsylvania.

I just got back from H&R and I have to pay $976 to North Carolina. What the hell is that about? For some reason, I put 2 down for my exemptions. No clue why I did that.

Anyways, it seems as if they used some pro-rated salary wage of $20,000 to compare it to how much income tax I owed.

This has basically single handedly put me in debt and has crushed my future plans and goals. Is there anyone who has any information for me to help me through this? I don't know anyone to contact to get any answers. I am just dumbfounded by this.

 

[EagleKeeper]

Originally posted by: scb175
Well, I lived in North Carolina from Jan. 1 2006 through April 1 2006. I worked at a full time job and made $8000. I then moved to Pennsylvania.

I just got back from H&R and I have to pay $976 to North Carolina. What the hell is that about? For some reason, I put 2 down for my exemptions. No clue why I did that.

Anyways, it seems as if they used some pro-rated salary wage of $20,000 to compare it to how much income tax I owed.

This has basically single handedly put me in debt and has crushed my future plans and goals. Is there anyone who has any information for me to help me through this? I don't know anyone to contact to get any answers. I am just dumbfounded by this.

Given your income level, I do not understand why you chose to use H&R Block. They will over shaft you for fees to do your dirty work and then ask you to bend over again for each state tax.

There is the State Tax freedom link that is in the OP that should allow you to do your state and federal.

Being that your problem is state tax related, we can not provided any useful guidance.

You could look at the NC state tax site to see how they handle part time residentcy and the same for Penn.

 

[Turin39789]

I filed in early February , then received a 1099 for some work I did at a catering company ($635) - they shoulda paid me 36 less). I think I have 1040x ready to go through turbotax. I just wanted to make sure that I added the 1099 in right and that I should be paying self employment tax. I basically worked 3 jobs doing food prep and cleanup for some extra cash.

Does my 1040x need to be postmarked tonight?

 

[EagleKeeper]

Originally posted by: Turin39789
I filed in early February , then received a 1099 for some work I did at a catering company ($635) - they shoulda paid me 36 less). I think I have 1040x ready to go through turbotax. I just wanted to make sure that I added the 1099 in right and that I should be paying self employment tax. I basically worked 3 jobs doing food prep and cleanup for some extra cash.

Does my 1040x need to be postmarked tonight?

1) You do not need to file the 1040X by tonight.

2) Seeing how as you received a 1099 - I would hope that you have now started a Schedule C and also looked through the tax threads to see how to reduce the tax bite by entering any type of related expenses on the Schedule C to lower the overall income.

There are costs incurred to get to the job, special equipment for the job required for safety and cleanup, costs incurred in obtaining the job (communication, smoozing) and costs incurred in asking questinos on how to handle the extra income for tax purposes.

If you squeeze hard enough, you should be able to reduce the extra tax bite considerably.