jelloshots4all
Senior Member
Joined: Aug 14, 2013 15:54:13 GMT -5
Posts: 4,642
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Post by jelloshots4all on Jan 12, 2019 13:45:23 GMT -5
I started mine this morning. Very glad I had extra withheld with the new tax plan. I needed it!!
Any others??
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Deleted
Joined: Apr 25, 2024 19:34:48 GMT -5
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Post by Deleted on Jan 12, 2019 13:49:53 GMT -5
I was pretty much done by the time I got my last check in December! I always wait until I get the few official firms before I file just to be absolutely sure my numbers are all right, plus MN hasn't released their module for TaxAct yet.
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haapai
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Character
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Post by haapai on Jan 12, 2019 13:56:48 GMT -5
I tried. For some damn reason I can't get the 2018 (and much redesigned) 1040 to print out on my printer and my eyes are too damn weak to read it from the PDF. I have no idea where I stand even though my electronic W-2 is completely finished.
I'm not really liking what appears to be a switch from a mother form to something that involves schedules. It makes it harder to sing the glories of a before the line deduction and other tax-related glories.
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ken a.k.a OMK
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They killed Kenny, the bastards.
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Post by ken a.k.a OMK on Jan 12, 2019 14:01:21 GMT -5
I started a folder to put the forms in. Some 1099's come much later so I haven't started taxact yet. I won't make the same mistake I did last year of forgetting a 1099b cap gains. I had to file an amended return, after I saw my mistake, and owed an additional $4k. My wife wasn't happy.
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Deleted
Joined: Apr 25, 2024 19:34:48 GMT -5
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Post by Deleted on Jan 12, 2019 14:34:14 GMT -5
I have TurboTax and have entered dummy numbers till the forms come in; since I pay Estimated taxes (no W-2 income), I want to be able to plan for any additional taxes I might have to pay for 2018 when I file (and any changes I might have to make in Estimated). I've put in dummy forms for investment results since the downloads aren't likely to be available for another month. Looks like I may have to fork over another $3,500. The tax law changes were not kind to me.
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Peace77
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Post by Peace77 on Jan 12, 2019 14:58:03 GMT -5
No, w-2 form is wrong.
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giramomma
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Post by giramomma on Jan 12, 2019 15:03:36 GMT -5
No. Probably won't for another month or so. But, I've been terrible with a portion of my record-keeping with my side gig this year. We're still withholding at 0 for me...DH is witholding 0 and married, but at a single rate. With four kids, I'm not really anticipating too drastic of a change in our tax situation.
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Deleted
Joined: Apr 25, 2024 19:34:48 GMT -5
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Post by Deleted on Jan 12, 2019 17:09:30 GMT -5
No. Probably won't for another month or so. But, I've been terrible with a portion of my record-keeping with my side gig this year. We're still withholding at 0 for me...DH is witholding 0 and married, but at a single rate. With four kids, I'm not really anticipating too drastic of a change in our tax situation.
Aren't you majorly overwithholding? I would think you could claim Exempt.
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TheOtherMe
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Post by TheOtherMe on Jan 12, 2019 17:19:41 GMT -5
All of my numbers have been input to Turbo Tax. Even if e-file were open, I don't send them until I have the forms like my 1099-R for my pension and 1096 on my mortgage. I will still itemize on the state return.
Two of the forms needed for my return are not yet final.
Had I left things the way my withholding was changed, I would owe several thousand dollars. Now I will have, someday, a small refund from both the federal and state returns. I like to be +/- $100 and I'm very close to that.
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oped
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Post by oped on Jan 12, 2019 17:22:06 GMT -5
Business end quarter and end year are almost done. I need to file an extension for personal, will try to still get all in order by end February...
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Gardening Grandma
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Post by Gardening Grandma on Jan 12, 2019 20:57:03 GMT -5
I downloaded Turbo Tax before we left, but didn’t have time to do anything else. By the time we get home, we should have all our 1099 forms.
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Deleted
Joined: Apr 25, 2024 19:34:48 GMT -5
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Post by Deleted on Jan 12, 2019 21:40:41 GMT -5
I bought TurboTax on sale at Costco. Does that count?
We don't get W2s until the end of January. Plus, I did three things. I converted $2500 from IRA to Roth. Capital One made me sell fractional shares, and then I transferred the remainder of the account to VAnguard. Finally, I took a withdrawal from the Roth, which is tax free but not paperwork free.
I need to wait on the paperwork.
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imanangel
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Post by imanangel on Jan 12, 2019 23:02:43 GMT -5
Ugh, No! I got hit with a huge tax bill last year because we sold our rental property and it put us in the next tax bracket. We have had pretty big tax bills for the past few years. It doesn’t seem to matter how we change our deductions... always a tax bill.
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MN-Investor
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Post by MN-Investor on Jan 12, 2019 23:29:47 GMT -5
I bought TurboTax in December, thinking I would do an estimate of what my taxes would be, but never got around to it.
I got my first Social Security statement yesterday, so decided today to input real numbers into TurboTax where I could and estimates where I couldn't. I'm going to get a fairly large refund, mostly because I sold a good chunk of stock in 2017 and thought I would do the same in 2018. However, stock values were down and I didn't need to sell, so my taxes are fairly low.
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cronewitch
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Post by cronewitch on Jan 12, 2019 23:53:51 GMT -5
My 1099s aren't ready until feb 15. I will owe about 10K. I sold my old house that will be paperwork but no tax on 250K gain. I took my first RMD and had a major increase in SS income and sold a lot of my taxable investments. I will probably do them in April to be sure no amended 1099s and why pay early. I paid in more than the tax for 2017 so no penalty. This year will be high SS and RMD but only dividends and capital gains from investments so less messy. I may sell some investments near the end of the year if I have room in a low rate or convert some IRA to ROTH.
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countrygirl2
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Post by countrygirl2 on Jan 13, 2019 3:03:55 GMT -5
I have to review the last week of entries on my bank statement for December for the property account, otherwise I have it up to date. I'm just waiting on 1099 forms and forms from hubs RMD's, have some of them. Have all our SS statements. I hope to get it all in before the end of Jan but I doubt it. I'm giving the accountant a copy of all on my passport so if they need to change anything they can. I think that was part of the breakdown last year. I'm also going to a different accountant, honestly I felt like that lady was a flake. Maybe I'm wrong but she just didn't appear to be with it. Had ill mother issues and seemed like a lot of stuff always interfering with work, then a long vacation, etc. In the interim, I waited and waited. Hope its not like that this year. I don't want to have to take this stuff over and relearn tax stuff again. I can if push comes to shove but I don't even want to get into it further then I am now. I wanted to get away from all accounting, wanted to completely retire from it. Oh well. So hoping I get all the forms so I can take it in. I did a rough workup, have paid in $8k, preliminary looks like $3k back, but not going to count on it in case I didn't pick everything up. I don't know on state, will owe something, have paid nothing, but it won't be like last year.
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❤ mollymouser ❤
Senior Associate
Sarcasm is my Superpower
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Post by ❤ mollymouser ❤ on Jan 13, 2019 3:10:09 GMT -5
I dropped everything off at our CPA's office and he announced that we were "first" for the year. Of course, nothing will happen for weeks, but taxes are now off MY To Do list! (My wonderful DH is active duty military and his W-2 was available online over a week ago.)
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princessleia
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Post by princessleia on Jan 13, 2019 6:30:13 GMT -5
Just downloaded the TAXACT (but my state didn't get downloaded), gathered all my information for the Form 8938 and FBAR. Waiting for W2s, 1099s, and other what-nots from various organizations. I am ready to go but held back. I did not change my withholdings because I am thinking of the extra college tuition credit I will get with 1 more child in college. However, in the event I owe taxes, I plan to make 2018 IRA contributions to ease the pain.
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giramomma
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Post by giramomma on Jan 13, 2019 8:25:42 GMT -5
No. Probably won't for another month or so. But, I've been terrible with a portion of my record-keeping with my side gig this year. We're still withholding at 0 for me...DH is witholding 0 and married, but at a single rate. With four kids, I'm not really anticipating too drastic of a change in our tax situation.
Aren't you majorly overwithholding? I would think you could claim Exempt. Yes, except for one year we took a huge loss. Ended up having a 5K or so tax swing because we owned stock in a business that got sold. After that, I was reluctant to change our withholdings. Then we had Miss M. And then the tax code changed. I'd rather get a refund than have another 5K expense like that again. That would be very bad for us right now. And I have better things to do than keep up with the shennangians that is our lawmakers right now.
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buystoys
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Post by buystoys on Jan 13, 2019 9:47:09 GMT -5
I'm still waiting on 1099s. I'll be taking our taxes to H&R Block to be done this year. We purchased the rental property and have a lot of expenses on it for 2018. I don't know how to enter all that in the online form. I also want them to review last year's taxes. I think I messed something up. I thought we would get a refund, but we ended up owing.
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Malarky
Junior Associate
Truth and snark are equal opportunity here.
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Post by Malarky on Jan 13, 2019 10:03:41 GMT -5
Does starting a paper pile on the dining room table count?
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NomoreDramaQ1015
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Post by NomoreDramaQ1015 on Jan 13, 2019 10:39:50 GMT -5
Not yet. Paperwork is starting to trickle in.
I'm tempted to say if the government can have a tantrum and shut down then I don't have to file because there is no one to take my money.😈
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Cookies Galore
Senior Associate
I don't need no instructions to know how to rock
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Post by Cookies Galore on Jan 13, 2019 10:59:42 GMT -5
I got the W2 for my council "job" and that's it. I will most likely put everything in Tax Act sometime in February as usual.
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Post by The Walk of the Penguin Mich on Jan 13, 2019 12:41:32 GMT -5
Considering we didn’t get 2017 taxes finally filed until October, it doesn’t seem fair to get hit with this again so soon. Those were ugly.
We did get the tax package from our accountant last week. I haven’t received anything yet in the mail.
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geenamercile
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Post by geenamercile on Jan 13, 2019 13:22:19 GMT -5
Got the stuff put in turbo tax for preliminary numbers. Looks like between Fed and State we will get about 2,100 back. I don't know if that is less because of the tax changes or the fact that we had increase because I started doing the home bound services last year so made more. Last year taxable income was 43,000 this year it was 50,000. Last year's tax return was 3,300.
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justme
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Post by justme on Jan 13, 2019 15:10:31 GMT -5
You guys are scaring me! I have no paperwork yet, though only one job and mortgage. I really hope I don't owe any this year!
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msventoux
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Post by msventoux on Jan 13, 2019 15:25:00 GMT -5
You guys are scaring me! I have no paperwork yet, though only one job and mortgage. I really hope I don't owe any this year! There’s free tax estimators online you can use. If you have your last paystub and the withholding you can plug those in along with any other income items and your mortgage interest and property taxes to get a rough idea of where you stand.
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TheHaitian
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Post by TheHaitian on Jan 13, 2019 15:29:36 GMT -5
I usually don’t start putting the paperwork together till February... upload it to my accountant by her 03/15 deadline and usually get it back a couple of days before 04/15
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pooks
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Post by pooks on Jan 13, 2019 15:42:52 GMT -5
I don't have any forms yet. Things never start trickling in until the end of January. Really afraid we are going to owe this year, maybe even get hit with a penalty. Dh doesn't want to talk about it, he thinks I worry over nothing and he may be right. It may work out, but it doesn't feel like we withheld enough.
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Deleted
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Post by Deleted on Jan 13, 2019 16:22:56 GMT -5
I haven't received any forms yet but tomorrow I'll make up my checklist and run all my Quicken reports. I doubt we can itemize but I will run the reports anyway because they are informative. Our CPA is semi-retiring over the next couple of years so we may get to visit with the new one who purchased the practice. We're low maintenance clients. I'm guesstimating we'll owe $2,000 b/c DH won't withhold from his RMD but the new tax law makes it very hard for me to predict anything. I'll do a very happy dance for anything less than $2K.
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