Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
New Tax Forms Out
Old 12-19-2018, 04:18 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2009
Posts: 5,185
New Tax Forms Out

Someone in Bogleheads mentioned that the new 2018 tax forms are out.

https://www.irs.gov/forms-pubs/about-form-1040

Looks like the draft versions I saw earlier this year.
__________________

__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-19-2018, 05:21 PM   #2
Full time employment: Posting here.
 
Join Date: Jan 2013
Posts: 775
I haven't looked at them yet.

I am worried about the circular reference with regards to the ACA subsidy if one is self-employed. I know I did it wrong in 2016.
__________________

broadway is offline   Reply With Quote
Old 12-19-2018, 05:27 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
target2019's Avatar
 
Join Date: Dec 2008
Posts: 5,359
Lovin' how they put 1 page on two half pages.
How creative!
target2019 is online now   Reply With Quote
Old 12-19-2018, 06:15 PM   #4
Recycles dryer sheets
 
Join Date: Jan 2008
Posts: 441
Quote:
Originally Posted by target2019 View Post
Lovin' how they put 1 page on two half pages.
How creative!
That's so you can do your taxes on a postcard!
(As long as you don't count the new schedules that you need to fill out).
DayDreaming is offline   Reply With Quote
Old 12-19-2018, 06:40 PM   #5
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 3,797
Wonder how much they spent doing that............in principle, it sounds easy to follow the truncated form w/ reference to the schedules . In practice I find it a lot harder. Maybe it would be easier if I had paper.......interesting too that they had a plan to undo the whole thing keeping the line #s from the old forms.
kaneohe is offline   Reply With Quote
Old 12-19-2018, 09:05 PM   #6
Moderator
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 5,581
Someone at the IRS must have figured out that if they make more forms, they collect more revenue! How else would you explain taking the old 1040, two pages, and turning it into 7 pages? In these days of doing an interview in software and submitting electronically, the separate schedules are irrelevant. They must have taken a page out of Microsoft's book... rearrange the UI just to make people think they've got something new, when it's the same jumble under the covers.
sengsational is offline   Reply With Quote
Old 12-19-2018, 09:43 PM   #7
Thinks s/he gets paid by the post
 
Join Date: Apr 2011
Posts: 2,567
Wouldn't they have to be for TurboTax to be selling tax return programs already for a month? Why would you want to be filling out incorrect forms?
gerntz is offline   Reply With Quote
Old 12-19-2018, 09:57 PM   #8
Moderator
Jerry1's Avatar
 
Join Date: Nov 2014
Posts: 2,985
Quote:
Originally Posted by gerntz View Post
Wouldn't they have to be for TurboTax to be selling tax return programs already for a month? Why would you want to be filling out incorrect forms?
Turbo Tax is never ready this time of year to actually file your returns. Significant updating happens after you purchase TT especially until the middle of January.
__________________
Every day when I open my eyes now it feels like a Saturday - David Gray
Jerry1 is offline   Reply With Quote
Old 12-19-2018, 09:58 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2007
Posts: 7,744
Quote:
Originally Posted by sengsational View Post
Someone at the IRS must have figured out that if they make more forms, they collect more revenue! How else would you explain taking the old 1040, two pages, and turning it into 7 pages? In these days of doing an interview in software and submitting electronically, the separate schedules are irrelevant. They must have taken a page out of Microsoft's book... rearrange the UI just to make people think they've got something new, when it's the same jumble under the covers.
Job creation. I think we were promised like 25 million more American jobs over these four years. I figure a few dozen headcounts at least to overhaul the tax forms in such a dramatic way.
__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (6, 12, and 13).
FUEGO is offline   Reply With Quote
Old 12-19-2018, 10:16 PM   #10
Thinks s/he gets paid by the post
GalaxyBoy's Avatar
 
Join Date: Jul 2009
Location: The Beautiful Blue Ridge Mountains
Posts: 1,639
Quote:
Originally Posted by sengsational View Post
Someone at the IRS must have figured out that if they make more forms, they collect more revenue! How else would you explain taking the old 1040, two pages, and turning it into 7 pages? In these days of doing an interview in software and submitting electronically, the separate schedules are irrelevant. They must have taken a page out of Microsoft's book... rearrange the UI just to make people think they've got something new, when it's the same jumble under the covers.
Politicians promised a 1040 "the size of a postcard" so this is how they (almost) did it. Offload a bunch of it to schedules and voila! "Honey I shrunk the tax return."

See https://www.npr.org/2018/06/29/62440...lly-a-postcard
GalaxyBoy is online now   Reply With Quote
Old 12-20-2018, 02:35 AM   #11
Administrator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee ba gum
Posts: 24,938
I just bought Turbotax yesterday. It gets harder to buy each year for us living overseas. Last year I had to use VPN to tunnel to the USA, log into my Amazon.com with my US credit card linked to our daughter’s US address to buy it, as other methods including direct from Intuit state that the product is not available for purchase overseas.

I tried the same thing this week but Amazon recognised that I also have an Amazon.co.uk account and wouldn’t let me buy it. My wife doesn’t have a .co.uk account with Amazon so I bought it through her Amazon.com account. (This the download version of course).

Americans have to file taxes regardless of where they live and Turbotax handles our taxes very nicely as overseas residents so I don’t understand the reasons why they won’t sell it to overseas residents.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
Alan is online now   Reply With Quote
Old 12-20-2018, 04:46 AM   #12
Moderator Emeritus
braumeister's Avatar
 
Join Date: Feb 2010
Location: Flyover country
Posts: 13,515
How about asking your daughter to buy the download and then send you the installer file?
__________________
I thought growing old would take longer.
braumeister is offline   Reply With Quote
Old 12-20-2018, 05:38 AM   #13
Administrator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: lumpen slums of cyberspace
Posts: 30,172
Quote:
Originally Posted by Alan View Post
I just bought Turbotax yesterday. It gets harder to buy each year for us living overseas. Last year I had to use VPN to tunnel to the USA, log into my Amazon.com with my US credit card linked to our daughter’s US address to buy it, as other methods including direct from Intuit state that the product is not available for purchase overseas.

I tried the same thing this week but Amazon recognised that I also have an Amazon.co.uk account and wouldn’t let me buy it. My wife doesn’t have a .co.uk account with Amazon so I bought it through her Amazon.com account. (This the download version of course).

Americans have to file taxes regardless of where they live and Turbotax handles our taxes very nicely as overseas residents so I don’t understand the reasons why they won’t sell it to overseas residents.
Do you know who is causing this problem, TurboTax or Amazon?
MichaelB is online now   Reply With Quote
Old 12-20-2018, 07:48 AM   #14
Thinks s/he gets paid by the post
 
Join Date: Sep 2014
Location: Grapetown
Posts: 1,851
I usually have my taxes already figured out by now, and are tweaking things to minimze taxes and maximize spendible income. After purchasing TT in November and entering my numbers, depreciation schedules won't be available until Jan 27, 2019. So I won't know if some of my purchases/improvements this year will be expensed until then.
Winemaker is offline   Reply With Quote
Old 12-20-2018, 07:54 AM   #15
Thinks s/he gets paid by the post
Car-Guy's Avatar
 
Join Date: Aug 2013
Location: Citizen of Texas
Posts: 3,437
Quote:
Originally Posted by Jerry1 View Post
Turbo Tax is never ready this time of year to actually file your returns. Significant updating happens after you purchase TT especially until the middle of January.
+1 Frustrating. I bought my copy a few weeks ago and ran my numbers. I keep running into, "those forms and/or tables are not yet available from the IRS". I'm going to be forced in to making some guesses for any adjustments I may want to make by year end.
Car-Guy is offline   Reply With Quote
Old 12-20-2018, 08:16 AM   #16
Administrator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee ba gum
Posts: 24,938
Quote:
Originally Posted by braumeister View Post
How about asking your daughter to buy the download and then send you the installer file?
That would be next on my plan. Maybe next year if it doesn't work out, except I have a MacBook and she is a Windows PC so not sure if the site would allow that.

Quote:
Originally Posted by MichaelB View Post
Do you know who is causing this problem, TurboTax or Amazon?
I think it is TurboTax as I can't buy the download on the Intuit site either. I have an American friend who moved to Yorkshire the year before I did and he says that he uses TurboTax online on the Intuit site from England, no VPN or anything. That would be another option except that the online version doesn't have anywhere near the same features as the downloaded version. I like to be able to switch between the forms view and step by step, and run scenarios throughout the year. His finances and taxes are also much simpler than mine.

ETA
My son also does his taxes on my laptop. (You can file up to 5 returns I think)
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
Alan is online now   Reply With Quote
Old 12-20-2018, 08:27 AM   #17
Moderator Emeritus
braumeister's Avatar
 
Join Date: Feb 2010
Location: Flyover country
Posts: 13,515
Quote:
Originally Posted by Alan View Post
That would be next on my plan. Maybe next year if it doesn't work out, except I have a MacBook and she is a Windows PC so not sure if the site would allow that.
I'm pretty sure that when I downloaded it, I had to choose which installer I wanted.

But if not, I'd be happy to do that for you next year. Just send me a PM.
__________________
I thought growing old would take longer.
braumeister is offline   Reply With Quote
Old 12-20-2018, 08:32 AM   #18
Administrator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee ba gum
Posts: 24,938
Quote:
Originally Posted by braumeister View Post
I'm pretty sure that when I downloaded it, I had to choose which installer I wanted.

But if not, I'd be happy to do that for you next year. Just send me a PM.
Cool, I will definitely bear that in mind
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
Alan is online now   Reply With Quote
Old 12-20-2018, 09:09 AM   #19
Administrator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: lumpen slums of cyberspace
Posts: 30,172
Quote:
Originally Posted by Alan View Post
I think it is TurboTax as I can't buy the download on the Intuit site either.
Strange. I wonder what’s behind this. TurboTax doesn’t help much, they refer a question by an overseas taxpayer to an independent tax preparer, who gives this reply (my bold)
Quote:
One alternative, but viable, solution that we might suggest instead would be for you to purchase TurboTax software from a different vendor (such as one of our authorized retail partners, like Amazon.com, for instance) and rather than ordering a software download (which may be also limited to US customers only), you could purchase the program on CD-ROM disc. Once you have the disc, you could then install the TurboTax program on your own computer, and also receive internet-based software updates for the product (from anywhere in the world).
One possibility is the SW requires an export license, it exists for the CD and not for the download version (meaning it is different).
MichaelB is online now   Reply With Quote
Old 12-20-2018, 09:21 AM   #20
Moderator
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 5,581
It might be as simple as they didn't want to spend money testing it overseas, so don't want to get any support calls due to quirks of running outside the US. I'm thinking e-file, but could be software updates too. If the techies say "it will probably work fine", that might not be enough for the support division to agree to it. If a person wrangles a copy across the pond, then it's their blues if something strange keeps them from filling.
__________________

sengsational is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Visa holder using 401k, what forms need to be added to tax return? jIMOh FIRE and Money 4 10-26-2015 11:10 PM
ACA subsidies, rebates and tax forms Free_at_49 Health and Early Retirement 16 04-17-2015 12:12 PM
Drafts of 2014 IRS Tax Forms Are Available Which Roger FIRE and Money 18 09-24-2014 12:38 PM
Reporting maturing bonds on tax forms woolybully FIRE and Money 1 02-25-2007 05:56 PM

» Quick Links

 
All times are GMT -6. The time now is 11:22 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
×