I am new to this, so when I was filing for my returns on turbotax, I noticed that when I was done filing for my federal returns, that sum of money went significantly smaller when I started my state returns. Does this mean that I am getting that amount back or am I getting 2 separate refunds, a state and federal? (Please, no smart a$$ comments, I just need someone nice to help me)
2007-01-23 09:13:25 · 3 answers · asked by chef4disney 2 in Business & Finance ➔ Taxes ➔ United States
Yes. If you live in a state that takes income tax you MUST file separate state and federal tax returns.
2007-01-23 09:17:00 · answer #1 · answered by *Cara* 7 · 0⤊ 1⤋
you will record 2 state tax returns. you're a factor-year resident of Massachusetts and a factor-year resident of Iowa. to maintain money, acquire the varieties from the state web content. do exactly the section-year returns, no vast deal. there will be no connection between the two state returns. To do 2 state returns will strengthen your education fees by using approximately $50 at maximum mass-marketplace education companies.
2016-12-12 18:44:05 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Yes, they are separate returns. You should do the federal form first because most states base their taxes on your federal Adjusted Gross Income (AGI), usually with additional modifications peculiar to each state.
2007-01-23 09:19:47 · answer #3 · answered by dukefenton 7 · 3⤊ 0⤋