im 17 turning 18 this deci need help to do my income tax return i know its too early but i need to know how to do it>>>help
2007-09-08 10:35:06 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
ask your parents, they can show you what they do (unless they go to a tax preparer).
I've attached the instructions for the 2006 1040 return for you to look over.
2007-09-08 10:43:15 · answer #1 · answered by Anonymous · 0⤊ 1⤋
If this is your first time filing taxes, I'm assuming that this is the first time that you've had enough income where you can justify doing so. If that is the case, you're probably not yet breaking the bank with your income, so you have several free options available to you.
Once you get your W-2 from your employer next year, log on to www.irs.gov and locate and click on the e-file link. From there you can find online services that will have you enter some basic information from your W-2 and prepare them for you at no cost. Some of them will even do your state return, if you have state income tax.
2007-09-08 18:28:02 · answer #2 · answered by Liberty 2 · 0⤊ 1⤋
If all your income was from a job where they took out taxes, it's pretty easy. You'll get a W-2 from each job in January of 08. You'll need to fill out a form 1040EZ - you can download one at irs.gov
That will take care of federal - depending on where you live, you might have to file a state and/or local return - this probably won't be real complcated either.
You can do it yourself, or pay someone like H&R Block about $75 to do them, maybe a little less if your state doesn't have an income tax. Or if your parents do their own taxes, ask them for help - theirs might be a lot more complicated than yours, so even if they pay someone to do theirs, it doesn't mean that you have to.
When you get your W-2, post here again and someone will walk you through what you have to do.
2007-09-08 17:54:50 · answer #3 · answered by Judy 7 · 0⤊ 1⤋
You can go to the www.irs.gov and start reading so that you have some basic knowledge. Buy a very cheap version of a tax program and turn on the instructor and the software will ask you questions. I don't know how difficult your taxes will be. If you do the short form, just look up the form and the instructions, download and start reading. It'snot all that hard unless you have lots of extenuating circumstances. But if all you have is a W-2, it's very easy.
2007-09-09 00:02:38 · answer #4 · answered by towanda 7 · 0⤊ 1⤋
I recommend you start by reading the Form 1040EZ and the instructions, which are attached to the form. If your income is from wages, this is the only form you need.
If you have a more complicated situation, you can go to the library and get a book on income tax, or you can get Pub 17 from irs.gov (online or locally) and use that as a reference.
Form 1040EZ
http://www.irs.gov/pub/irs-pdf/f1040ez.pdf
IRS Pub 17
http://www.irs.gov/pub/irs-pdf/p17.pdf
2007-09-08 18:06:15 · answer #5 · answered by ninasgramma 7 · 0⤊ 1⤋
In addition to all of the other advise, make sure that you have resolved the Dependent issue if you live with your parents. Taking yourself as a dependent may only mean a few dollars to your return but it could be hundreds to them.
2007-09-08 18:50:23 · answer #6 · answered by ? 6 · 0⤊ 1⤋
www.irs.gov
They have instruction booklets and forms to download so you can file them in draft form now so you will be able to calculate whatever you need.
There also are tax software kits that are sold at walmart and office suppy places, that make it easy to file.
If you make less than $52,000 in adjusted gross income, you may file electronically free from the
www.irs.gov site.
GOD bless us always.
MBA-Boston Univ.
CPA-retired
2007-09-12 14:38:19 · answer #7 · answered by May I help You? 6 · 0⤊ 0⤋