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I need to file an extension because there's an issue with my W-2 (I only worked in one state and county the entire year so local and state wages SHOULD be the same but aren't for some reason, difference is about $3.7k) and the payroll company that handles it says it won't be able to fix it before the normal filing deadline. I have an uncomplicated tax situation so I usually self-file. I'm just a bit confused how to file for the extension. https://www.irs.gov/forms-pubs/extension-of-time-to-file-your-tax-return My AGI is less than $73K so do I just use one of the Free File options and then amend it later when I get my corrected W-2? Do I need to submit form 4868? It needs me to declare my estimated tax liability but I won't know how much that is unless I actually file, right? I'm in NY if that matters at all, would I need to file for an extension separately with the state as well? E: I typically use turbotax free, is there any reason to not use that again and use one of those linked on the IRS website instead? Centzon Totochtin fucked around with this message at 20:11 on Mar 29, 2023 |
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Mar 29, 2023 19:36
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| # ¿ May 11, 2024 18:34 |
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No, I usually owe between $300-1000. Nothing changed that would affect my filing status I was able file the federal extension via turbotax, the problem now is Im trying to file my NY state extension and don't know how to calculate how much I owe. It's asking if I need to make a payment with my extension but.... I don't know if I need to. Some years I get a small state refund, sometimes I owe a small amount (last year I owed $15).
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Mar 29, 2023 20:53
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H110Hawk posted:For the state I would just assume it's zero and eat any interest in the next month or three. This is what I ended up doing, but will it affect my credit score at all?
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Mar 30, 2023 05:29
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I got my corrected W-2 ahead of time. So when I file, I should just all the numbers and info from the W-2C and completely disregard the original W-2, right?
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Mar 31, 2023 21:36
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I'm filing my taxes now with my 44444/W-2C. I paid $507 in estimated federal taxes when I applied for the filing extension last week, which was accepted and already withdrawn from my checking account. Do I then declare that $507 as estimated federal taxes paid under additional payments (since it wasn't part of a quarterly federal tax payment)? Or will the IRS somehow figure it out themselves and refund me the difference if there is one/deduct it from what I owe (somehow doubting its this)
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Apr 3, 2023 21:37
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H110Hawk posted:You need to put the $507 in your 1040 as a payment. Do you know what line or form that would go under? I'm using Turbotax free right now and my income consists of my W-2, 1099-INT, and that $507 which I have listed under "Estimated Tax Payments". I don't think it fits any of the other categories (Self-Employment, Unemployment, Other Common Income, Investments and Savings, Less Common Investments and Savings, Retirement Plans and Social Security, Rentals, Royalties, and Farm, Other Business Situations, S-corps, Partnerships, and Trusts, and Less Common Income)
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Apr 3, 2023 21:51
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I had to pay a CP23 ($29 plus 23 cents in interest haha), do they also send me a notice saying they received it/I'm in the clear? The payment went through last week already
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May 16, 2023 21:13
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I usually have an uncomplicated tax situation (single, modest income, rent, no other sources of income, only investment for 2023 was a traditional IRA) but last year my grandmother passed and left me her half of the house which she co-owned with my father (I'm in New York City and so is the house, but I do not live in the house nor do I ever intend to). Do I need someone to prepare my taxes for me or can I just use freetaxusa or turbotax? She gave it to me via a deed transfer with retained life estate (called a life estate deed in some states) so it didn't go through probate or a will and was automatically transferred to me upon her death in September if that matters. I've had to pay for half of the third and fourth quarterly 2023 property taxes and shared utilities if that makes a difference.
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Feb 12, 2024 17:09
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sullat posted:I.E. it's not taxable income when you inherit it but when you sell/rent it that income is taxable. I haven't done either yet (like many old people, she was a bit of a hoarder so I'm still clearing the place out when I have free time) so I should be good to self-file like I usually do?
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Feb 12, 2024 18:33
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sullat posted:Yeah. Just make a note of the value of the house as of the day you inherited it. That will be the 'basis', i.e., the cost you 'paid' for the house when it comes time to calculate your total profit. I didn't have it appraised then, but the city has annual approximate assessment values for the property. Should I use the value for 2023 or 2024 as the basis?
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Feb 13, 2024 18:21
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2 questions 1) My grandma passed away last September and she didn't have a will so there's no executor of her estate but I've been handling most of her bills, accounts and loose ends. Do I need to file taxes for her? She was almost 90 and her only income was from SSI. I have her mail forwarded to me and I haven't gotten anything related to taxes for her so I'm hoping the answer is no. 2) I maxed out my traditional IRA contribution for 2023. Am I supposed to receive a form 5498 from the financial institution for my taxes? I still haven't gotten one.
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Mar 5, 2024 20:45
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raminasi posted:You'll get an informational copy of a 5498 eventually but you don't need it to file your taxes. So I don't get a tax deduction for it? Also regarding filing for my deceased grandmother, I'm getting conflicting information here so I'm gonna hold off on it for now
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Mar 6, 2024 19:05
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| # ¿ May 11, 2024 18:34 |
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raminasi posted:I performed an IRA -> 401k rollover a couple of months ago and just received a residual check for $0.04 in the mail. Is there a compelling reason not to just ignore it? Forwarding it to the 401k administrator will be annoying. Yeah I filed on freetaxusa yesterday and they just asked me how much I contributed. Feels odd that some things need a form but other things they'll just take my word for it.
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Mar 7, 2024 23:28
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