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Did my tax return today...
Old 02-01-2010, 03:50 PM   #1
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Did my tax return today...

...and look who helped. Turbo Tax Bob!
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Old 02-01-2010, 03:54 PM   #2
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...and look who helped. Turbo Tax Bob!
maybe you should put the return in the bottom of the litter box and let him sign it before you send it in...
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Old 02-01-2010, 03:54 PM   #3
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Can you send Bob over? I am having a few issues entering 1099-Rs in TurboTax...
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Old 02-01-2010, 03:57 PM   #4
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By the way, this message has been officially approved by Bob himself...
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Old 02-01-2010, 04:01 PM   #5
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I knew I should have upgraded to the Purrremium Version....
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Old 02-01-2010, 05:47 PM   #6
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And I bet he doubles as your anti-identify theft officer - shreds all those confidential documents!

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Old 02-01-2010, 06:06 PM   #7
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That is too cute Purron!

I scowl when I do my return...the cats disappear....
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Old 02-01-2010, 06:17 PM   #8
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Great pic!

Would Bob please calculate my last data point needed to finish my taxes, the cost basis for an exchange of 321.543 shares from VWAHX to VHDYX, made 3/16/09 ?

There's a 20 minute ear scritch session in it for him.
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Old 02-01-2010, 06:18 PM   #9
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maybe you should put the return in the bottom of the litter box and let him sign it before you send it in...
It's tempting Westerskies. However, Bob, my resident tax expert, said this increases the chances of an audit
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Old 02-01-2010, 06:19 PM   #10
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Can you send Bob over? I am having a few issues entering 1099-Rs in TurboTax...
Bob says "sure". The way he figures it is anyone with multiple 1099-Rs can afford plenty of Fancy Feast.
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Old 02-01-2010, 06:31 PM   #11
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This might be just the place to pose questions about returns. If not let me know but here goes: I took $3000 from my IRA in May '09 as part of my minimum required distribution. Have to pay taxes on that. There is a ruling for '09 that negated the MRD. Also, at the end of the year congress passed a ruling that permitted putting back all distributions if you so desired. I put the $3000 back in the IRA in November (had to tell the bank about the ruling). All is well until I do Turbo Tax. I enter the $3000 distribution as income but when I try to enter the $3000 contribution, Turbo Tax denies this as I am over 70 1/2 and cannot make contributions to an IRA. If I can't make the contribution and use it as a credit I'm getting killed. Paying taxes on it now and then again when I withdraw that amount the next time. Any comments on this problem? Any tax experts out there?
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Old 02-01-2010, 06:38 PM   #12
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Bob says "sure". The way he figures it is anyone with multiple 1099-Rs can afford plenty of Fancy Feast.
Fancy Feast is the only brand of food that gets our cats' seal of approval. And not all flavors will do either. It has to be Fancy Feast Gourmet Gold "Filet Mignon"! I hope Bob likes!
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Old 02-01-2010, 06:40 PM   #13
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This might be just the place to pose questions about returns. If not let me know but here goes: I took $3000 from my IRA in May '09 as part of my minimum required distribution. Have to pay taxes on that. There is a ruling for '09 that negated the MRD. Also, at the end of the year congress passed a ruling that permitted putting back all distributions if you so desired. I put the $3000 back in the IRA in November (had to tell the bank about the ruling). All is well until I do Turbo Tax. I enter the $3000 distribution as income but when I try to enter the $3000 contribution, Turbo Tax denies this as I am over 70 1/2 and cannot make contributions to an IRA. If I can't make the contribution and use it as a credit I'm getting killed. Paying taxes on it now and then again when I withdraw that amount the next time. Any comments on this problem? Any tax experts out there?
For tax purposes, can't you simply pretend tha you never took a distribution? Net result is the same, right?
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Old 02-01-2010, 07:00 PM   #14
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Originally Posted by JOHNNIE36 View Post
This might be just the place to pose questions about returns. If not let me know but here goes: I took $3000 from my IRA in May '09 as part of my minimum required distribution. Have to pay taxes on that. There is a ruling for '09 that negated the MRD. Also, at the end of the year congress passed a ruling that permitted putting back all distributions if you so desired. I put the $3000 back in the IRA in November (had to tell the bank about the ruling). All is well until I do Turbo Tax. I enter the $3000 distribution as income but when I try to enter the $3000 contribution, Turbo Tax denies this as I am over 70 1/2 and cannot make contributions to an IRA. If I can't make the contribution and use it as a credit I'm getting killed. Paying taxes on it now and then again when I withdraw that amount the next time. Any comments on this problem? Any tax experts out there?
Can't help you on this issue but can say I did have to do a "work around" with turbo tax related to our rental property. While turbo tax is a fairly good tool, I've found it doesn't address all tax situations, even fairly common ones like yours. Have you sent an inquiry to the turbo tax help desk? Could it be their software doesn't take this ruling into account yet?
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Old 02-01-2010, 07:01 PM   #15
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This might be just the place to pose questions about returns. If not let me know but here goes: I took $3000 from my IRA in May '09 as part of my minimum required distribution. Have to pay taxes on that. There is a ruling for '09 that negated the MRD. Also, at the end of the year congress passed a ruling that permitted putting back all distributions if you so desired. I put the $3000 back in the IRA in November (had to tell the bank about the ruling). All is well until I do Turbo Tax. I enter the $3000 distribution as income but when I try to enter the $3000 contribution, Turbo Tax denies this as I am over 70 1/2 and cannot make contributions to an IRA. If I can't make the contribution and use it as a credit I'm getting killed. Paying taxes on it now and then again when I withdraw that amount the next time. Any comments on this problem? Any tax experts out there?
Sounds like something TT needs to fix in its software for this year. Maybe there will be an update to correct it. Suggest you call them and give them your scenario.
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Old 02-01-2010, 07:03 PM   #16
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You could try diving into (posting on) TT's live community. Remember doing that last year when trying to figure out info on filing a 1040-X with them.

Haven't started my 2009 taxes yet
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Old 02-01-2010, 07:03 PM   #17
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Fancy Feast is the only brand of food that gets our cats' seal of approval. And not all flavors will do either. It has to be Fancy Feast Gourmet Gold "Filet Mignon"! I hope Bob likes!
I'm afraid to show Bob your reply. I've never served him Fancy Feast Gourmet Gold "Filet Mignon" and am worried he'll think I'm not a good cat mom.
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Old 02-01-2010, 07:06 PM   #18
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You could try diving into (posting on) TT's live community. Remember doing that last year when trying to figure out info on filing a 1040-X with them.

Haven't started my 2009 taxes yet
I thought about the TT live community with my rental property issue. Did you find it helpful?
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Old 02-01-2010, 08:16 PM   #19
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From what I remember, when you post, I think similar topics would also show so if someone was in a similar situation, they may have already had an answer. (Kind of like yahoo answers, if you have ever used that). Or you an always start a new thread and hope someone answers.

I remembered last year was the first year of retirement and I had forgotten a couple of 1099-R forms. I did have to do some searching around within the live community, but did find it helpful. Might be worth a try for you.
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Old 02-01-2010, 08:42 PM   #20
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For tax purposes, can't you simply pretend tha you never took a distribution? Net result is the same, right?
Hard to pretend this didn't happen when I'm looking at a 1099 showing a $3000 distribution.
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