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Old 01-06-2017, 08:27 PM   #41
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Fidelity has a page you can see what they've got (see below). Is this not to be trusted?

When I filed, I didn't know it wouldn't be of any use until 1/23. I would not have filed if I knew that because, as you say, no ability to change anything now.

Lovely. Hopefully we won't have THAT happen this year.
No, it's preliminary, and it's not complete and doesn't have qualified dividends for mutual funds nor foreign tax credits. Last year the fidelity funds had that info appear about mid-Jan, and it took until the end of Jan for the non-fidelity fund info to show up.

I redo my tax estimates at the end of Jan for planning purposes bast on the Fido tax info, but of course use the actually 1099s and Turbotax to get the final numbers and file.
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Old 01-07-2017, 04:59 PM   #42
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What's the rush? Only if you gave Feds too much to begin that I can see. Why would you do that?
Certainly not my idea, but they hold a big check due to my 401k provider refusing to cut a check without a 20% withholding.

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Originally Posted by Cobra9777 View Post
Fidelity defaults everything to non-qualified until they have been provided the official information. So you definitely do not want to use this information. But the split can be easily estimated from prior-year returns.
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No, it's preliminary, and it's not complete and doesn't have qualified dividends for mutual funds nor foreign tax credits.
Ok, That page at Fidelity is just fiction. I used last years' split on the small dividend...I'll probably be accurate to the dollar.

As to the status of my eFile, the status on the return is still pending (same as the moment I hit enter a couple of days ago). But they still have 88 minutes to make their promised 48 hour target. Let's just say I'm not holding my breath.
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Old 01-07-2017, 05:28 PM   #43
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Your postal carrier will grace you with a Form SSA-1099.
And if you don't have it by about the end of January you can get a replacement by logging into your account at the My Social Security website.
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Old 01-08-2017, 06:05 PM   #44
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And if you don't have it by about the end of January you can get a replacement by logging into your account at the My Social Security website.
That's useful to know, thanks.
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Old 01-08-2017, 06:42 PM   #45
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I haven't paid my 4th quarter estimated tax payment yet, plus, I get a couple of K-1's and they don't show up until late March.
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Old 01-09-2017, 07:45 AM   #46
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I'll file a extension and then file in October. That gives me time to decide if I want to pull back my Roth IRA conversation.

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Old 01-09-2017, 07:59 AM   #47
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I also track after tax spending. I treat taxes paid or withheld as an offset to income. This works very well for income sources that are tax withheld, like pensions. Other sources, like divs or cap gains do create a bit of a mismatch between years, but I keep close track of this in another spreadsheet. When expecting a refund (unusual) I file around the middle of March. Our taxes aren't due until Apr 30.
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Old 01-09-2017, 08:12 AM   #48
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I really can't fill most of mine until I get my 1099 composites so I know what divys are qualified or not. So no real point to rush it. I fill it bit by bit as it comes in. I will wait a bit before they are due in case they have corrections. Most years they will adjust some numbers. I should be close on my tax estimates and quarterly payments.

maybe not optimal..
Bingo. A few years ago E*Trade sent me multiple corrections. After two years of being forced to amend, I now fill everything out early, and then wait until April 14 to file. Even then, I got a correction once in late April (yes, past the 15th) from E*Trade.

I'm no longer in a hurry. I found filing amended (along with state!) is way too much a pain. I also fired E*Trade. They were too slow in passing along some ETF corrections. I also sold that particular ETF.
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Old 01-09-2017, 08:16 AM   #49
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Even though I run the risk of having to file an amended return, I don't like to delay beyond early February since the risk of identity theft increases the longer you delay filing.
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Old 01-09-2017, 08:20 AM   #50
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I might go back to doing my own taxes. The only weird thing I have is a K1 from a real estate LLC that sold its last property and is now done. Last year the CPA charged me $115, so I won't save much by doing it myself, but I'll gain a better understanding of my taxes.
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Old 01-09-2017, 08:29 AM   #51
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I like to file or rather to know what my numbers are as early as possible and purchased H&R Block software the day they issued it. However to file with the IRS you must have supporting documents like 1099 INT, 1099DIV etc. My broker sent me some forms for filing in February last year so if you have interest, dividends, cap gain you must wait at least till all documents arrive.
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Old 01-09-2017, 08:55 AM   #52
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Even though I run the risk of having to file an amended return, I don't like to delay beyond early February since the risk of identity theft increases the longer you delay filing.
This is a real concern these days.

This year will be a split year for us having been tax resident in both the US and UK so I'll be filing for an extension early February.
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Old 01-09-2017, 04:33 PM   #53
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When expecting a refund (unusual) I file around the middle of March. Our taxes aren't due until Apr 30.
What do you do about tardy T-slips? I guess it is unusual as you said. I am expecting to pay a bunch this year. It will probably be the 29th just in case the technology fails on the 30th due to volumes. Then I will do an e-transfer a week later.
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Old 01-09-2017, 04:37 PM   #54
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I have a bunch of tax stuff to deal with: my own tax return, my (now deceased) mother's return (she lived in two states in 2016), and the return for the living trust that I assumed trusteeship for upon her passing in October. (This is what I get for being relatively savvy about taxes and investing -- I handled her investing and taxes for 11 years after Dad passed away. No good deed goes unpunished!) Yep, a lot of work to do here....
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Old 01-09-2017, 06:35 PM   #55
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I did a first cut at taxes in early Dec. using the 2015 turbo tax.
Then, when I got the 2016 version, I did another crack at a close estimate in late December (Christmas week). This allowed me to do my first Roth conversion with good confidence that I hadn't over converted.

I will do it all again with actual numbers in early February when I have all the documents. That's the version I'll file.

As soon as I'm done with our taxes I'll start on mother-in-laws. Hers are pretty straight forward: federal pension, SS, some interest from CDs.
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Old 01-10-2017, 07:47 AM   #56
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Even though I run the risk of having to file an amended return, I don't like to delay beyond early February since the risk of identity theft increases the longer you delay filing.
We've started filing in late Feb rather than late March for the same reason. Although the IRS has closed some security holes this year, and we've kept on top of our IRS online accounts.

We'll owe, so it's not like I have to face a delayed refund.
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Old 01-10-2017, 02:02 PM   #57
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Ouch. Gee thanks for this thread. I just spent most of the day working on my estimated taxes (stupid old d.i.y. Excel sheet method).

Since I stopped working in August, I was not sure how the half year would affect my withholding, plus I still had some stock sale capital gains to figure in. I did a "back of the napkin" estimate and sent in 1040-ES in September, but wanted to make sure I did not need to send in more.

I usually wait until April to do the taxes since I have been burned by revised tax info being sent at the last minute, so I am not used to going through this in January.

I had hoped to avoid AMT, but I missed by a smidge and had to do all those calculations as well.

I guess the good news is that it seems I will get a decent refund due to them scaring me into overpaying and a last minute decision to bulk up the charitable gift fund this year since it seemed that the charitable deduction would be against a higher tax bracket than next year's hoped for 15% bracket.

Now I can relax for a while. I think it is even money that I will probably still end up mailing my return on April 15th even though I have all the time in the world to get it finished sooner.

I had all summer to repair my mailbox before the snow plow hits it again, but I ended doing that last week after the first snow storm :-)
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Old 01-10-2017, 02:16 PM   #58
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I always file in late January or early Feb. I have had to amend one return in 18 years.


This year, I get to claim a child tax credit! Woo! And deduct 529 contributions from my state return, but not my wife's! Grumble.

Next year, I get to deduct payroll taxes paid. Boo.

The complexity of my tax returns seem to relate exponentially to my age.
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Old 01-10-2017, 02:42 PM   #59
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... ...

How does SS get the information to you? This is my first year taking SS so do they send a 1099R or something?
I just received my first Form SSA-1099 from SS this year. DH and I both started last year with him being on Medicare. His statement was very detailed with net deposit, deductions for Part B and Part D broken out.

I got excited thinking it was the form that finally tells me how much my 2017 SS benefits will be...no such luck! DH received his months ago. I will have to wait until the 3rd Weds of Jan.
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Old 01-10-2017, 08:31 PM   #60
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What do you do about tardy T-slips? I guess it is unusual as you said. I am expecting to pay a bunch this year. It will probably be the 29th just in case the technology fails on the 30th due to volumes. Then I will do an e-transfer a week later.
I only get a few slips because I keep my banking/investing to one institution. These are generally available in mid Feb online so I get them then. Have never had to refile. Actually, even if all slips were lost, I could reconstruct the whole thing in an hour or two. Getting a big refund this year, but with interest rates so low, doesnt give much incentive to file early.

Our taxes are really simple. Pension, divs, sometimes cap gains (but not this year) some medical expenses and charitable donations. No foreign income or assets. No tax credits claimed( other than for divs) or any other weird stuff. Could do it in an hour if I had everything.
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