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Old 02-04-2011, 06:07 AM   #21
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We have all our 1099-Rs and 1099-Ints. I'm waiting for TurboTax to fix a glitch on rollovers to an IRA. They said the release date for the fix was Saturday. I really hate waiting when I'm in the mood to do taxes.
Of course this is only the glitch they are telling you about. Last year TT pushed through updates well into the summer.
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Old 02-04-2011, 10:56 AM   #22
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Nope. Still waiting for a few.
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Old 02-04-2011, 02:44 PM   #23
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1099Rs are in hand, and already entered into TurboTax.

I'm waiting on VG to have brokerage data available. Then I will do the download of mutual funds and brokerage data in 1 step.
I can still itemize, so I will not e-file fed return until 1 March.
I print and file NY return along with an official letter proving that one of my sources of income is derived from a govt pension plan (not taxable in NYS). Otherwise, the processing office will show me as owing NYS tax.
I also am too cheap to pay the $19.95 to e-file state taxes.
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Old 02-05-2011, 01:44 PM   #24
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I got my 1099 form that I've been waiting on.

Guess I've been spoiled with everything online, having to wait for regular postal mail seemed like an eternity (plus the snow days didn't help either).
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Old 02-05-2011, 02:14 PM   #25
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For various reasons I always do an extension. Roth conversions, late revisions to 1099s and to Turbo-Tax, late K-1s, and latest of all "per unit depletion and production factors" on US royalty trusts. I usually wind up overpaying until I get my refund in the fall.

Ha
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Old 02-05-2011, 02:55 PM   #26
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TurboTax fixed the Roth conversion bug this morning and our taxes were finished within the hour, e-filed to the IRS, and accepted. Naturally between the time they were finished and e-filed I checked the final document manually. It's a control thing. Our refund, the first in several years, will be electronically deposited in two weeks.
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Old 02-05-2011, 03:28 PM   #27
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Got the final 1099 this week and finished up my federal tax return. Need to wait for the state program to become available next week. I will likely paper file in March (I have never e-filed and don't plan to start now).
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Old 02-05-2011, 03:33 PM   #28
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Note of course that if you file schedule A it just goes on a que until valentines day because the IRS had to reprogram its computers, so no point in really hurrying. Brokerage houses don't send out until feb 18, so its around the 20th. Anyway even if due a refund I prefer to paper file, return reciept requested, but of course with a refund it does not matter if you are late the IRS is quite happy to take a refund return up to 3 years late, since uncle gets to keep the money. Now if you owe its a whole different story.
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Old 02-05-2011, 03:44 PM   #29
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I haven't done a Schedule A in ten years. The benefit of being debt free.
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Old 02-05-2011, 04:11 PM   #30
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Got my taxes e-filed. It's outta the way (sort of). Sort of because I did itemize so the e-file is "in the hopper" as they say, until mid-Feb.
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Old 02-05-2011, 04:16 PM   #31
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I haven't done a Schedule A in ten years. The benefit of being debt free.
Eh? I'm debt free, but I do a Sched A for the property taxes and Medical/Dental deductions. Even with that 7.5% whack of adjusted gross income off the medical deduction, I still had 1/4 of my gross income lopped off by the Sched A total. That plus exemptions gave me a net rate of 0% , a welcome change from my last years of work.

It's worth going over Sched A even without any debt. Early-retirement is chock full of interesting deductions.
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Old 02-05-2011, 04:26 PM   #32
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1099Rs are in hand, and already entered into TurboTax.

I'm waiting on VG to have brokerage data available. Then I will do the download of mutual funds and brokerage data in 1 step.
I can still itemize, so I will not e-file fed return until 1 March.
I print and file NY return along with an official letter proving that one of my sources of income is derived from a govt pension plan (not taxable in NYS). Otherwise, the processing office will show me as owing NYS tax.
I also am too cheap to pay the $19.95 to e-file state taxes.

Funny..every year, I think to myself, "should I save some money and not e-file my state?" But I end up just paying for the convenience of just e-filing that fed and state. I figure, if I was to print my state out, go to the post office, pay for a certified letter postage (like what the suggest), the price difference isn't that much, but the convenience is. That's my justification for splurging with state e-file
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Old 02-05-2011, 06:46 PM   #33
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1099Rs are in hand, and already entered into TurboTax.
...
I print and file NY return along with an official letter proving that one of my sources of income is derived from a govt pension plan (not taxable in NYS). Otherwise, the processing office will show me as owing NYS tax.
I also am too cheap to pay the $19.95 to e-file state taxes.
I read that TurboTax cannot charge you to e-file your NY State return. I think it's against the law.
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Old 02-05-2011, 07:20 PM   #34
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Eh? I'm debt free, but I do a Sched A for the property taxes and Medical/Dental deductions. Even with that 7.5% whack of adjusted gross income off the medical deduction, I still had 1/4 of my gross income lopped off by the Sched A total. That plus exemptions gave me a net rate of 0% , a welcome change from my last years of work.

It's worth going over Sched A even without any debt. Early-retirement is chock full of interesting deductions.
We don't have enough to get to a Schedule A even with property taxes (generous ag exemptions) and high charitable giving.

I heard a rumor the Medical deduction was going from 7.5% of AGI to 10% - can anyone confirm that?
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Old 02-05-2011, 08:18 PM   #35
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I heard a rumor the Medical deduction was going from 7.5% of AGI to 10% - can anyone confirm that?
It goes to 10% in 2013 for taxpayers under 65, and in 2016 for the 65 and older set.

Tax Breaks on Medical Costs - Personal Finance - Taxes - SmartMoney.com
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Old 02-05-2011, 09:42 PM   #36
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It goes to 10% in 2013 for taxpayers under 65, and in 2016 for the 65 and older set.

Tax Breaks on Medical Costs - Personal Finance - Taxes - SmartMoney.com

Thanks for the link. I use the HSA strategy to sidestep the limits. Use the HSA to to reimburse myself for qualifying expenses, but those expenses that I can't use HSA funds for (like health insurance premiums) get put in the medical expenses area for potential itemized deducting. I just have to remember to not "double dip the chip."
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Old 02-06-2011, 10:12 AM   #37
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I got mine done 1/31 because I messed up the state estimated tax payments. They said if I filed by the end of Jan., I wouldn't owe the penalty. Hope that's true. I also sprung for the state tax program since this 1st year of retirement + Roth conversions is more complicated than usual. I also do my taxes in a spreadsheet as a double check. The state program found an extra $500 off my tax bill I can use once, so that was worth it. I'm too cheap to pay to efile. I took the calculated and double checked state return and used the state's on-line free software to file.

I'm debt free too but both my Fed and state returns do better by itemizing. Property tax, state tax, & charity add up to quite a bit. It is just my luck that the huge overpayment of Fed tax due to it taking OPM 10 months to finish my retirement is delayed for at least 2 weeks this year.
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Old 02-07-2011, 08:30 PM   #38
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I read that TurboTax cannot charge you to e-file your NY State return. I think it's against the law.
No kidding!
Got a link to share?

I still have to provide that hardcopy letter (showing the conversion of my TSP to an annuity) every darn year.
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Old 02-08-2011, 05:23 AM   #39
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I have 1099's. I just bought TurboTax. Now I just need 2 K-1's
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Old 02-08-2011, 11:44 AM   #40
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We got all our W-2s and 1099s on time this year and I filed on Feb 1st. The Federal refund was direct deposited today.

I use www.freetaxusa.com Our taxes are not very complicated (no itemizing) and I have used this service for many years. I prepare a spreadsheet of a best guesstimate in the fall and then fine tune it in December. By the time all the forms are ready I know exactly how it will work out.

I still have to file the state but we owe so there is no hurry. We also have to file local (2%) but that was accurately withheld all year. The local has to be mailed in or dropped off at city hall. You can prepare it online but you still have to print it out and send it in.
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