Taxes - February 2007

I asked about the 8606 versus 5329 forms. TurboTax wants me to file 8606, but just in case the IRS wants me to also file 5329, do I need to amend my return? In otherwords, does having to file 5329 mean I need to amend my return or could i just mail that into the IRS if they needed it?

I already submitted it using only 8606 per TurboTax's instructions.

2007-02-04 07:36:26 · 1 answers · asked by Matt K 4 in United States

I need to know where all those tax dollars are going! Like what percentage to the military, education, environment, etc. I have not had any luck finding anything, and maybe you know of a good site! THANKS SO MUCH!

2007-02-04 07:25:20 · 3 answers · asked by Anonymous in United States

Can they file them this year? Is there anything special they need to do? I am trying to file my friends' taxes online but I'm not sure if I can do this year and last year. Anybody have knowledge on this? Serious and knowledgeable answers only please.

2007-02-04 07:18:13 · 3 answers · asked by QDPie 2 in United States

My husband wants more refund this year.Whats the best way?to file single,married jointly or married seperate?

2007-02-04 07:15:07 · 4 answers · asked by Kathleen C 1 in United States

2007-02-04 07:06:09 · 2 answers · asked by Anonymous in United States

2007-02-04 07:01:54 · 5 answers · asked by WONDERING 1 in United States

2007-02-04 06:50:17 · 4 answers · asked by Anonymous in Australia

We filled jointly last year and were going to do the same this year. If we file jointly we are oweing more than if we file seperately (according to Turbo Tax.) He would get more back from state and federal and I would owe the same but we can pay mine off with his return. Can someone please tell me if we can file jointly one year and seperately the next? Does it matter? Do you have to fill out different forms or anything?

2007-02-04 06:47:35 · 4 answers · asked by Anonymous in United States

I'm also a full student in college, plus I graduate this spring.

2007-02-04 06:47:29 · 2 answers · asked by DickeyDee 1 in Other - Taxes

2007-02-04 06:39:52 · 3 answers · asked by gg 7 in United States

In 2006, I took a Qualified early distribution from my Roth IRA for the 1st time homebuyer. I meet all the requirements to be qualified including only withdrawing 10,000.
I'm using TurboTax, and it wants to complete form 8606, but the IRS helpdesk folks say I need to use 5329....but TurboTax won't let me use that form.

Any thoughts?

2007-02-04 06:22:37 · 4 answers · asked by Matt K 4 in United States

Re: deducting CT income taxes & FL sales taxes

2007-02-04 06:21:52 · 3 answers · asked by Analizer 1 in United States

I have always filed jointly. Our children are grown.
We are separated since October, 2007; he lives elsewhere. I don't think he plans to file taxes, he worked for him self and will get a 1099 and unemployment statement.

I worked half a year and unemployment for half a year. The home is in my name and so is the mortgage.

I plan to file soon, but Taxslayer online says that if we lived together during 2006 we have to file together??

As I said, he probably won't be filing at all, he's anti government.

I have no money for lawyers, tax consultants, etc. I just paid 4 months of mortgages to get out of foreclosure, and other bills that he created just to get everything in my name.

Any sugestions?

Shey

2007-02-04 06:13:32 · 2 answers · asked by shey8 1 in Other - Taxes

I have TurboTax - the basic Federal version. It gives me the option of e-filing OR paper filing. I know the advantages of e-filing but may have to paper file b/c the software's missing a form. Please help below.

If I paper file, will the IRS be able to read the return, since it would be printed on my computer's paper - and not the MICR type?

2007-02-04 05:54:55 · 5 answers · asked by Matt K 4 in United States

Arn't they all supposed to be out by January 31st? Can they be fined for that or something?

2007-02-04 05:53:10 · 3 answers · asked by Cree 2 in United States

2007-02-04 05:52:48 · 6 answers · asked by jojaker22 1 in United States

I got a w-2 and a 1099-misc. I have never filed a 1099 before so i'm not really sure how to do this. My 1099 is only for 160$ how much will I owe on this. And how do i file it?

2007-02-04 05:48:53 · 7 answers · asked by Anonymous in United States

2007-02-04 05:41:54 · 4 answers · asked by Cinderella 1 in United States

2007-02-04 05:34:58 · 5 answers · asked by troubled about energy source 1 in United States

I have two tax forms. One is my W2 and the other is a 1099 miscellaneoue income. Am I gonna owe money to the state for that commision i made?

2007-02-04 05:29:32 · 4 answers · asked by Anonymous in United States

If so ...if you buy through scottrade will you get hit with a tax before they give you dividens? What would the divedens % be then and can you get the tax back if your from the states? Any info would be appreciated.

2007-02-04 05:29:26 · 2 answers · asked by garykofoid 2 in Canada

My soon to be X and I have been living in our own homes since June 1, 2006. We have chose to file our own taxes. Married filing seperate. I want to know if I should file prior to our divorce being final on March 26, 2007 or wait and file after our final divorce court hearing. At this point I believe I owe like 1000.00 (guess something to do with part time jobs, I only made 28,000) and he has told me yet but he will get a refund (he made 32,000). Im confused, I can't afford to go thru H & R block or other companies so like in years past I filed on Turbo Tax and Wi IRS pages for free. I also live in Madison, WI and we have no children if this helps. We also claimed 0 and married. Can I every claim my mom even if she's getting social secuirty widows penision, she makes about 11,000 a year. Hope anyone can help me. I really don't want to talk to the x if I have to. Also when can I change my W2 stating Single and 0.

2007-02-04 05:23:11 · 3 answers · asked by Anonymous in Other - Taxes

My W-2 mentions 3 deductions because that's what I had mentioned on my W-4 to my employer, but I now realize that it should be only 2. Is there any workaround while filing returns? Otherwise I would be claiming an excess refund which I am not eligible to.

2007-02-04 05:15:52 · 9 answers · asked by Zac 2 in United States

For the first time in my life, I am being paid as a "contract" worker and no taxes are being taken out of my paychecks. Do I have to pay the IRS quarterly or can I wait until I file taxes for the year and pay them all at one time?

2007-02-04 05:15:50 · 7 answers · asked by GayForPay 1 in United States

We haved lived together all 2005 and 2006, at the end of 05 he had lost most of his vision and was deemed legally blind. His income SSI and my income combined is about 20,000 for the year.Most of my income is a 10-99. I was told I could claim him as a dependant , can I & how?

2007-02-04 05:02:22 · 6 answers · asked by Anonymous in United States

I recently started college. I'm 22, I live with my mother, however I dont believe she has claimed me for a while. I file a 1040ez form, and do the e-file. I do not own my own home, and do not itemize. I did not receive any financial aid this year, I just paid for it out of my own pocket. I received what I believe is 1098-T from my school. When I file my taxes, how do I go about claiming this, if I can?

2007-02-04 04:59:43 · 5 answers · asked by Jason R 1 in United States

Ok..I had some debt canceled by a credit card company. They canceled part of what I owed them. An agreement was reached in November of 2005. I made 10 equal payments. The first was in November of 2005 and the last was in August of 2006.What was the date of cancellation? Was it November of 2005 or August of 2006. I did not receive a 1099c from them.Thanks.

2007-02-04 04:50:34 · 2 answers · asked by jerryscoins 1 in United States

2007-02-04 04:48:37 · 3 answers · asked by A S 1 in United States

But in between this period, the broker withheld tax from his stock sales -- 28% of the proceed from stock sale. Foreign investors should not pay tax on capital gains, so IRS should refund him the money. And the capital gain is much less than the proceed from a stock sale.

What form shall he file to get refund? He has no ITIN number. He tried to apply one, but got rejected.

2007-02-04 04:35:37 · 1 answers · asked by Sunny Michael 1 in United States

On my federal form I reported a refund from my state taxes last year $30 less than I actually received. Will I get audited.

2007-02-04 04:34:41 · 3 answers · asked by CctbOh 5 in United States