Just filed my Federal tax return

[HouseHubby]

Quote:

Originally Posted by arch57 I’m stuck arguing for a corrected 1099-R from a small Roth401k distribution that listed about 2/3 of the distribution as “taxable”. I’m 64 and I’ve had the Roth in my company 401k way more than the five years required for a qualified distribution. I was managing our MAGI for ACA reasons so drew a small down payment for a new SUV. Plan administrator in first contact just said yeah it’s taxable because it’s in Box 2a. Duh that’s the mistake I’m trying to fix so had to elevate the ticket. Has anyone else had a Roth 401k or IRA distribution listed as partially taxable?

Perhaps your distribution includes the company match portion which is taxable.

[old medic]

Quote:

Originally Posted by Kwirk I won't even consider snail mail given the IRS problems managing paper during the pandemic.

We mailed our payment last year, after several calls, and several excuses, we get an updated bill with added interest.... We cancelled the check and made the payment online, of course they wouldn't reverse the fine. Check has never made it back yet....

[harllee]

I filed our federal tax return today on Turbo Tax, got fed approval in less than an hour. I owe so I will pay that later. Can't file state yet since some forms not available. I always try to file early to prevent some bad guy from filing under my name and number before I do.

[freedomatlast]

I waited forever to get my federal tax refund last year, so this year I made sure to owe. So I did my taxes last weekend and I'll owe about $8000. Instead of sending in a paper check that the IRS may lose, with my paper return, can I just pay electronically via EFTPS the same way I make quarterly payments?

[Jackietime]

I just filed both fed and state returns electronically via OLT.com. This was my 7th year using OLT.com. Our fed refund is $980.00. We are in the zero tax bracket but are receiving a refund because of the earned income tax credit.

[Sunset]

Quote:

Originally Posted by freedomatlast I waited forever to get my federal tax refund last year, so this year I made sure to owe. So I did my taxes last weekend and I'll owe about $8000. Instead of sending in a paper check that the IRS may lose, with my paper return, can I just pay electronically via EFTPS the same way I make quarterly payments?

You can pay the IRS at this site: https://www.irs.gov/payments/direct-pay

You get to specify why you are paying the money. I've never used EFTPS.

[harllee]

I just filed my federal tax return on Turbo tax and they have a way to pay the federal through Turbotax. Very easy.

[cathy63]

Quote:

Originally Posted by Sunset You can pay the IRS at this site: https://www.irs.gov/payments/direct-pay You get to specify why you are paying the money. I've never used EFTPS.

EFTPS is the same. You select that the payment is for a 1040 and then choose whether it's an estimate, regular return, amended return, audit adjustment, etc.

[albireo13]

still waiting for W2s

[pacergal]

We usually wait until March, until all 1099 forms are in.
If we owe, will send in last minute, if due refund, usually apply to next year taxes.

[scrabbler1]

Quote:

Originally Posted by SecondCor521 That's why I wrote that it depends on the type of 1099. 1099-Bs, which is the type of 1099 you reference, is required to be sent by February 15th. At least as far as I can tell - the instructions on the IRS site about this kind of stuff is long and complex. So your broker still has another 10 days or so to put your 1099-B in the mail to you (or file for an extension, which would give them another 30 days). I agree and sympathize with you about the waiting part. My return this year might depend on my son's return (Form 8962 Line 2b), and I'm due a hefty federal refund as well. And said son is in college in Oklahoma so it'll be tricky to figure out how to work with him remotely to complete his return.

The wait is over. The missing 1099B appeared on line and it showed my one sale of shares on an uncovered basis (Box E on Form 8949), as I predicted. Now I can get the process started, at least for my federal return, and get that hefty refund soon!

[Tadpole]

My nightmare from last year's tax season is continuing this year. After I filed early and got thrown arbitrarily into the error bin last year, a tax advocate at IRS retrieved my return and agreed that there was no error. So, the advocate processed it and told me that it may have been caused by the fact that my name was first on the return but our quarterly payment account at EFTPS was under my husband's name. For years this had been true without any problems. To avoid this problem, this year I put my husband's name first on the return. When I tried to e-file through TaxAct, the return was rejected presumably because the AGI or PIN was wrong for my husband. Trouble is neither were wrong. I use the same PIN each year and the same PIN for both of us. Additionally, there was no typo. I doubled checked the AGI at my IRS account using the final transcripts from last year. The only difference in the transcript and my submitted return was an extra $2.80 interest payment because of the delayed processing. The AGI was the same as submitted. So, there is no way either of the verification numbers is wrong. Yet the IRS says one of the two is wrong. My guess is that the software is spitting out the wrong error code due to the change in primary filer from last year or because the tax advocate at the IRS may have caused the PIN to get separated from the e-file when she manually processed it. I will need to snail mail the return since there is no way to correct something that is already correct.

[BarbWire]

Oh, so close .... I downloaded my last 1099 Composite (Schwab brokerage) on 2/4 and installed TurboTax Deluxe (Costco) yesterday, with the goal of e-filing by Sunday evening.

Nope. I was cruisin' until Foreign Tax Credit (I have VEU in a taxable Vanguard Account) and TTax kindly informed me that Form 1116 is not available yet. No estimated date Estimated date 2/24. And the kick in the teeth is that I dread the Foreign Tax Credit section of TurboTax which always gives me conniption fits; I don't understand the calculation.

Sigh. All of my numbers look good otherwise. I ran the Federal Check and it had 8 flags, 6 of which were foreign tax. Fair enough. Another was a simple "fill in a state" and the weird one was filling in a child care tax credit amount on Schedule 8812 . ?!!? I file as single, no child care claims at all. I've never seen that form before.

[mcbraemer]

We e-filed in late January and were delighted to receive a sizable refund the first week of February. Took just over one week. Chose electronic deposit. Have heard that those requesting paper checks wait months, and much longer delays should you choose to file a paper return.

[Morgan22]

Filed Feb 8th. Received refund by direct deposit 2/12 from California. Only 4 days!
Expecting to receive small refund from Feds on 2/21 by direct deposit according to this schedule:
https://www.bankrate.com/taxes/how-l...et-tax-refund/

[RunningBum]

No fed refund for me yet after about 2 weeks (est is 1-3 weeks) and I wanted to check the status. The IRS2GO app seemed like the easiest way. You have to give your full SSN, filing status (single, MFJ, etc) and refund amount. I got a scheduled refund date of 2/16, and they noted I have an I Bond coming as well, about 3 weeks after the refund.

[Souschef]

I just got my Fido 1099's today. I need one more from Amundi Pioneer. I owe a ton of money this year. I will file as soon as I get the data, and set up payment through EFTPS and the CA equivalent.

[niven]

I e-filed the federal return on 2/4, and got my small refund in the bank a week later on 2/11. Great!

But I ran into something interesting on the state filing. Before the end of last year, I did withholdings from a Fidelity IRA withdrawal to cover my tax liability (with a little extra) for federal and state. I basically only pulled enough from Fidelity to cover both, with the state withholding being about 30% of the withdrawal.

I did this since Vanguard will not withhold for my state (Virginia). The problem is H&R Block said since the state withholding on that 1099-R was more than 25% of the withdrawal, I needed to file the state by mail. I did so and am waiting to see if there are any issues.

I'm not sure where this requirement comes from - the state or a federal regulation. I googled for a while but couldn't find where this originated.

[Walt34]

I think this sets a new record for speed. We e-filed federal on Feb. 4th, the refund is to be credited tomorrow, the 14th, so ten days.

Alas, the fed gives and the fed takes away. The amount of the refund is only a bit more than DW's quarterly Medicare payment. The difference is just about enough to take her out to lunch.

Okay, it's mental accounting and I know it. Money is fungible, and we'd planned on the Medicare payment anyway, but it's easier to think of it that way.

[mystang52]

Wow; efiled Fed 2/6, refund due to be direct-deposited 2/14. That's fast!