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If I understand this correctly, if I have ANY investment income, I need to purchase TurboTax Deluxe?
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Jan 22, 2017 02:09
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| # ¿ May 16, 2024 18:05 |
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I moved from Indiana to Illinois and submitted a W-4 for my three dependents for a deduction of $6000. However, my paychecks this year appear to show a larger than anticipated increase in federal taxes compared to my last job. For the record, I got a $4000 pay increase from switching jobs, but that shouldn't result in an increase of $360 per month. My guess is that my job is not actually reducing my federal taxes based on my dependents. When I look at my paystub, it shows that I'm married but allowances are N/A. I keep getting four figure refunds for the federal government and I would really prefer having that throughout the year instead obviously. I'm guessing this requires a call to HR to see how they are handling W-4s. I wish the tax withholding calculator was available so I can reduce my refund to near zero.
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Feb 3, 2022 17:03
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I posted in this thread a month ago regarding federal income taxes and why I didn't seem to have my pay increase reflected in my take-home pay. I ran through the W-4 worksheet on the IRS website and found they wanted you to include the standard deduction in the calculations. Was this always the case and I only realized it now?
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Feb 17, 2022 16:05
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This is probably a dumb question, but I wanted to check. I lived in Indiana from the start of the year until I quit and started my new job in Illinois on December 27, 2021. My last day working in Indiana was December 26. I hadn't received a statement by December 31 because the pay period did not end yet. Do I file a state income tax with Illinois for 2021? I'm thinking no because none of my income earned in 2021 was done in Illinois at that time. TurboTax doesn't think so, but wants me to file a return with Illinois and charge me for the privilege.
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Feb 28, 2022 04:05
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Someone feel free to tell me that using TurboTax is the devil but I also know something is wrong with this situation. Situation: I lived and worked in Illinois full-time for 2022. My wife was preparing our house to sell and formally moved in July 2022. She does not work at all. We earned an estimated $60K in profit from purchasing our house in 2014 to 2022. I apparently earned $354 in Indiana sometime, but I lived in Illinois at that point. I have NO idea why TurboTax thinks the state of Illinois owes us a refund of $55K. It won't let me view the numbers specifically but I wonder if our odd living arrangement has something to do with this.
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Mar 10, 2023 02:56
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MadDogMike posted:Uh, admittedly I'm having a hard time following what you're saying (what's "$60K in profit from purchasing our house" mean?), but I don't see any way to get a refund THAT big unless there was some sort of giant payment to Illinois. Thinking you've got either some serious mis-entries on there, or major bugs. Did you sell a home and have to make a withholding payment of some kind on the sale? Sorry, basically our house appreciated $60K from when we purchased it in 2014 to when we sold it in 2022. The house was sold in Indiana. According to TurboTax, we shouldn't have to make a withholding payment because we had lived in it long enough. I think it's a bug in TurboTax, so I'm going to use a different software and see if I am running into the same issue.
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Mar 10, 2023 04:23
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I figured it out, I typed a number twice for state taxes. It's frustrating because FreeTaxUSA has the draft available but there isn't an easily accessible option in TurboTax. Also Indiana can get my tax return via mail, I ain't paying money to e-file a tax refund of $5.
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Mar 10, 2023 19:23
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| # ¿ May 16, 2024 18:05 |
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My father works part time for a company and apparently they gave him W-2s, which effectively doubled his income and disqualified him for a number of elder assistance programs. They told him to wait for the IRS to acknowledge receiving a corrected W-2 but he owes a significant sum in the meantime. I told him he needs to get the company to send HIM the corrected W-2 ASAP, is that correct? I think his CPA already has filed for an extension.
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Apr 15, 2024 15:50
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