Did My Taxes Today, Start to Finish Four Times

Help Support Brothers of Briar:

RSteve

Well-known member
Joined
Feb 9, 2008
Messages
1,303
Reaction score
234
My taxes should not be all that complicated. No RMA in 2020. Some interest, annuity, and dividend income, and social security. I wound up using Turbo Tax and Tax Act, as a checker . After I completed Turbo Tax, my refund looked too large; ridiculously large, and I couldn't figure out why. I looked over my 2019 taxes done on Turbo Tax and couldn't catch the problem. I called a friend who is a CPA with the MN Department of Revenue. "Steve, do you remember a couple of years ago, when you got hit with a penalty and back taxes for 2015 because Turbo Tax software had a major gaff, when it didn't include and/or forward Social Security on your MN taxes?"
After hours of searching, that's what it was. As it does with all other prior income sources, it didn't bring forward my Social Security for the year. I showed less income with virtually the same deductions of the prior year.

So, I cleared the program started over from scratch, searching for the glitch, and found it. On an early page of their forms, Turbo Tax now requires you to check a graphic if you have Social Security or Railroad Retirement, etc. I didn't see the graphic on a page with 16 others, just assuming that Turbo Tax would bring the item forward.

When it got to my state taxes, I was already in a less than favorable mood. The tasks that Turbo Tax used to do automatically with a simple Q & A, now is a complicated jumbled mess. The Q & A are gone, replaced by a facsimile of the paper copy you'd get in the mail. Only the facsimile is very hard to see unless you have perfect uncorrected vision and no cataracts.

Thank goodness, it's done. Hopefully, my medical expenses will diminish, and I'll make my charitables directly from my IRA account. Standard deduction and short form would be such a relief. 40 years ago when I was in North Dakota, state taxes were simple. I don't know if they're remained that way. Depending on your income category, you paid a flat percentage of your federal adjusted gross income. The tax form was the size of a postcard.
 
Last edited:

Ranger107

Well-known member
Joined
Feb 18, 2019
Messages
1,474
Reaction score
573
I was told Minnesota devised a new simple 2 line tax form. Line 1, how much did you earn this year? Line 2, enter the amount from line 1 and send it in. LOL
 

Carlos

Administrator
Staff member
Moderator
B of B Supporter
Council Member
Joined
Dec 10, 2007
Messages
6,889
Reaction score
49
Location
Chestnut, IL
Easy peasy! Save everything. Stuff it in an envelope. Give to the sister-in-law CPA. When she calls with a few questions, answer them. Get the paperwork back. Sign and mail. Done!
 

Timbo

Well-known member
B of B Supporter
Joined
Jan 18, 2015
Messages
1,418
Reaction score
66
Location
Australia
I agree with Carlos. In Australia, you can do your returns yourself or go with an accountant. I used to always do my tax return myself but often ended up owing the government more money which is odd for a salaried empoyee in Aus. So I switched to an accountant, been getting a tax return ever since and for a claimable 150 bucks a year, I'm happy to pay her as the refund is much highr than that. Plus doing my tax via her takes me half an hour, it used to take me at least 3 to 5 hours when doing it myself.
 

RSteve

Well-known member
Joined
Feb 9, 2008
Messages
1,303
Reaction score
234
Thank goodness, taxes are done. Hopefully, my medical expenses will diminish, and I'll make my charitables directly from my IRA account.
That was wishful thinking. So far for 2021, C7 surgery and rehab and tooth extraction, bone graft, and preparation for implant. I'll be itemizing again.
 
Top