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Up until now I just use turbotax to handle my taxes. Other than knowing how to use that program, I do not know anything about taxes in general. I used the Direct File from the IRS in order to do my taxes this year because I wanted to encourage that sort of thing and it went fairly well, but then I already had an ID.me account so I bypassed that painpoint. I still need to do CA taxes though, so I wanted to use CalFile (https://www.ftb.ca.gov/file/ways-to-file/online/calfile/index.asp). Unfortunately, I do not have an account with them so I needed to register. Right now, I am stuck at the final step, where they either mail me (as in, actual paper mail) a PIN so I can finish, or they connect to TransUnion so I can answer some credit questions and get it verified right away. For the former, they say it takes 5-7 days which at worst means there is a chance I won't get it by the time the deadline rolls around, but for the latter currently it tells me they are not able to connect, and it is the weekend so all their support is closed so until Monday it is just me and my anxiety. So looking into it as much as I could I thought I saw that if I do not owe California any taxes, then I automatically get an extension on my return which allows plenty of time to get that CalFile working, if I do need to resort to getting the PIN by mail. Given my situation and that I got a return from California last year, that makes it not as urgent. So I look into the forms to see if it is the same case and I think I am getting a return from them this year, but I am slightly uncertain about the Alternative Minimum Tax in California. Apparently, my AGI is over the point where I should be calculating that to see if I do owe it. I am single and not self-employed, I am living in an apartment, I do not make any itemized deductions and I have no stock options or make any other particular extra deductions or credits, and LOL if I own any businesses to worry about operating costs on. I tried calculating AMT myself (though it was on a form that was from last year, as it was the only thing online), and as I understand it: 1. I add together my AGI plus the standard deduction. 2. Subtract any credits (which AFAIK is zero) 3. Subtract the cutoff, whatever they say it is, from that amount 4. Multiply it by the AMT tax rate, which is 7% in CA, so 0.07 5. Compare it to the income tax rate that I normally have. If it is greater than that, then I owe the difference. If the income tax is greater than that, then I do not owe anything more than that. Does that all sound about right? As far as I know, for my situation I do not owe any extra AMT and I should be good for getting a return from CA. Are there any online tools for calculating AMT? While I am at it, are there any decent online tools out there for filing state income tax? My only other alternative is to go back to paying for turbotax, fill out everything, then just mail the state return, which is not preferable. Sorry for all the words! Unlucky7 fucked around with this message at 21:57 on Apr 6, 2024 |
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Apr 6, 2024 21:41
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| # ¿ May 17, 2024 01:05 |
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