Hi, I changed jobs in the year 2006. So Do I have to file 2 separate tax returns for my two employers? If yes, Can I claim a standard deduction on one tax return and a itemized deduction on the other?
Any information on this will be appreciated
Thanks
2007-01-04 05:00:09 · 9 answers · asked by ASN 1 in Business & Finance ➔ Taxes ➔ United States
You will file only one return, regardless of how many jobs you've had.
Claiming the stardard or itemized deductions will depend on personal financial circumstances. You should itemize if you have things such as a mortgage, paid property taxes, medical expenses, etc. And if it greatly reduces your income more than it would if you took the standard deduction.
2007-01-04 05:09:41 · answer #1 · answered by Celeste 6 · 0⤊ 0⤋
You will get two separate W-2's and you will file one federal return adding the amounts together.
If you did move from one state to another you will have two state returns to file - one as a part year resident in the state you moved from and one as a part year resident of the state you moved to. Even though you file two state returns if you moved, your income is still the two W-2's added together, you should just have to fill out another form within the return to pro-rate the income to that state.
It can get a little complicated if you moved between two states. However, if you can fill out a form and perfrom math calculations you should be able to handle it.
If you didn't move from one state to another than it is that much easier and you only file one state return.
2007-01-04 05:20:19 · answer #2 · answered by BHWMST 3 · 0⤊ 0⤋
No, you only file ONE return with multiple W-2s. You can either itemize or not, depending on what kind of return you file. If you're not sure how to file a single return with multiple W-2s, you should contact a tax preparer (such as HR Block or Jackson Hewitt) to help you. You don't want to make a mistake on your taxes!
Good luck to you.
2007-01-04 05:11:53 · answer #3 · answered by mom2trinityj 4 · 0⤊ 0⤋
No, you will file one tax return. Add up the amounts from your two W-2's for your income, tax withheld etc and use those numbers to fill in the forms.
2007-01-04 06:05:36 · answer #4 · answered by growing inside 5 · 0⤊ 0⤋
The only way you file 2 separate returns is if your 2 jobs were in different states. Otherwise, you just combine wages, federal withholding, state withholding, etc.
2007-01-04 05:02:59 · answer #5 · answered by donnabellekc 5 · 0⤊ 0⤋
just add the numbers together from the w-2's when entering
you are only allowed to file once for the year.
2007-01-04 05:03:40 · answer #6 · answered by Aviator1013 4 · 0⤊ 0⤋
1 return and add everything together.
2007-01-04 06:05:23 · answer #7 · answered by Wayne Z 7 · 0⤊ 0⤋
No, they're not seperate returns, you just add them together.
2007-01-04 05:08:28 · answer #8 · answered by Christina 7 · 0⤊ 0⤋
Go to H&R Block.
2007-01-04 05:02:39 · answer #9 · answered by BooBoo 3 · 0⤊ 0⤋