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Old 02-14-2010, 10:25 PM   #41
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Originally Posted by jIMOh View Post
my w2 shows more than $1000 less tax was withheld on 72k income year over year
wife's w-2 was less by about $800
Part of that is the stimulus (I think its $400 for you and your wife)
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Old 02-14-2010, 11:10 PM   #42
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Originally Posted by JOHNNIE36 View Post
Hey, I've got about $9000 coming back with the first home buyer tax credit and I don't want to wait forever. For a $100 at Jackson-Hewitt I can get it filed now and they know how to handle the $3000 rollover to the IRA. With that home buyer credit you have to do a manual filing and I know the IRS will look over everything carefully. I'm better off this year not using Turbo Tax. I'll go back to them next year. With Turbo tax, I emailed them about my problem, never heard from them, went into the online chat room and no one ever responded to my problem.
So did you update your TT tonight? Isn't the problem fixed already?
I'd save myself from wasting $100.
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Old 02-15-2010, 08:06 AM   #43
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Originally Posted by jIMOh View Post
I found the error
TT is suggesting .
Turbo Tax is great...but it does not "suggest" anything. TT (and all tax software) only compute taxes based upon where and how you input your data into the program.

Good choice to pay the $30 so you can review the detail and identify your mistake...or answer your question as to why 2008 and 2009 are different. Do a side-by-side comparison and the issue will be clear.

As a former tax guy at one of the large accounting firm I occassionaly think I have found a TT software error...I have learned to look more carefully at my input and perhaps re-read the tax rules...error is normally mine.

Also, be sure to update online as TT continues to update software...particularly during early part of filing season (January).

Tax software is somewhat "dangerous" if you have any complications as it always prepares a tax return that "looks" fine...but can contain user input errors that will often go undetected.

If you have multiple income sources or other complications I would suggest using a tax preparer...remember...you have no real idea if YOU have prepared a correct return or not... TomCat
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Old 02-15-2010, 10:21 AM   #44
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Originally Posted by TomCat View Post
Turbo Tax is great...but it does not "suggest" anything. TT (and all tax software) only compute taxes based upon where and how you input your data into the program.

Good choice to pay the $30 so you can review the detail and identify your mistake...or answer your question as to why 2008 and 2009 are different. Do a side-by-side comparison and the issue will be clear.

As a former tax guy at one of the large accounting firm I occassionaly think I have found a TT software error...I have learned to look more carefully at my input and perhaps re-read the tax rules...error is normally mine.

Also, be sure to update online as TT continues to update software...particularly during early part of filing season (January).

Tax software is somewhat "dangerous" if you have any complications as it always prepares a tax return that "looks" fine...but can contain user input errors that will often go undetected.

If you have multiple income sources or other complications I would suggest using a tax preparer...remember...you have no real idea if YOU have prepared a correct return or not... TomCat
I use TT online- so I did not buy anything in store. Cost me $19.95 for fed and $40 for state. I did not file my return yet.

I am examining W-2 and similar- here are some differences between 2008 and 2009

2008
More federal tax withheld- $1800 total ($1000 me and $800 for wife)
HSA was considered employee contributions and because of this, I had to manually enter some info into TT, but the HSA schedules printed and my refund increased (less taxable income).

2009
Less Federal tax withheld ($1800 total)
HSA was considered 100% employer contributions ($5900 was listed in box on w-2 as employER contributions, even though $4400 of this was me and $1500 came from employer). Meaning all $4400 I contributed was taxed based on what I know thus far.

**if I removed the HSA from the W-2, then manually input a $4400 HSA contribution in different section of TT, the amount owed went down.

The question of the day:
When you have an HSA and HDHP thru an employer does the IRS treat this differently on the 1040 than if you are retired and have an HSA and HDHP on your own?

anyone?
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Old 02-15-2010, 10:39 AM   #45
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I use TT online- so I did not buy anything in store. Cost me $19.95 for fed and $40 for state. I did not file my return yet.
Doesn't sound like a good deal to me. I downloaded TT from Amazon and paid about $45 for Fed + State. I have it now on my computer and can run as many different scenarios as I want through out the year. Also my kids do their tax returns with my TT.

TT only gets cheaper as time goes on.
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Old 02-15-2010, 10:44 AM   #46
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I would be concerned if you are entering the W2's differently then they are from your employer. That is something that the IRS normally matches right away.

If you think the W2's are wrong have your employer provide you corrected ones, especially if you are correct.

Why raise a flag to the IRS. There is plenty of time left to get them corrected.
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Old 02-15-2010, 10:47 AM   #47
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My daughter made 13 mortgage payments in 2007 and 11 in 2008--which made them owe money when they did their taxes last April as less mortgage interest was thus paid and deducted in 2008.
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Old 02-15-2010, 12:10 PM   #48
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[QUOTE=jIMOh;904486**if I removed the HSA from the W-2, then manually input a $4400 HSA contribution in different section of TT, the amount owed went down.

[/QUOTE]

Raise the question with your employer and get the W-2 corrected if it is wrong. Employer can file a corrected W-2.

BTW...my gut reaction is you need some help with your tax return preparation. First TT may be wrong...now W-2 may be wrong. My concern is that you may be wrong TomCat
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Old 02-15-2010, 01:08 PM   #49
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Originally Posted by TomCat View Post
Raise the question with your employer and get the W-2 corrected if it is wrong. Employer can file a corrected W-2.

BTW...my gut reaction is you need some help with your tax return preparation. First TT may be wrong...now W-2 may be wrong. My concern is that you may be wrong TomCat
I have not filed yet
I needed to see the impact

I know either the W-2 are wrong HSA wise, or I am wrong in taking it off W-2.

what I do know is the HSA is a source of one of my problems.

In 2008 and 2009 the same HSA was shown differently on the W-2.

Here is my guess based on various feedback thus far

1) My HSA was incorrectly done on my 2008 tax return. I asked my employer for a corrected W-2, they sent me one, but it still is not the same as what my 2009 looks like (codes and amounts) regarding the HSA.

2) Because my HSA contributed to a $1800 refund, that number would have been much much lower.

3) Because I do not account for the child tax credit on my W-4 and allowances, that $1800 being lowered to around $900 means I was $1100 in the hole for 2008, setting a false expectation for myself heading into 2009.

4) More than likely the HSA is correct as listed on my W-2 based on what others are telling me based on how payroll, payroll taxes and what the IRS wants (I have to fill in enough to make sure IRS knows I did not over contribute to account, but the tax return will show no HSA tax benefit if money is withheld by employer).
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