Poll - One Week to go, Are Your Taxes Done?

[GalaxyBoy]

Done, filed and large refund check deposited weeks ago. My first tax year of ER and I had much too much withheld for the feds, what with my last two months of w*rk and first year's mandatory withholding from inherited IRA RMD.

We owed quite a bit to the state, however, since I had a fair amount of capital gains which were subject to state but not federal tax. Taxes aren't due until 5/1 here in The Old Dominion, and I'm waiting as long as I can to write that check.

[W2R]

Done.

***** tax return submitted to IRS, accepted, and processed
***** tax return submitted to Louisiana, accepted, and processed
***** paid IRS, cleared
***** paid Louisiana, cleared
***** estimated tax payments set up in EFTPS for this year
***** estimated tax payments set up in Louisiana's equivalent service for this year

It feels good to have this weight off my shoulders for another year.

[Freedom56]

Will e-file shortly. The final update to the tax software was released today. My numbers did not change. I'm in no rush, I owe money every year.

[Bamaman]

Leaving the country for a month. May just file an extension and deal with it later. I sold two houses last year but am not in a taxable situation.

[Scuba]

My CPA e-filed last week. Getting refunds as expected. Wanted to file earlier but one of our investments just got us the necessary documentation around the end of March.

[Badger]

Finished a few weeks ago. For the past few years I just take it all in to the local library where AARP volunteers do them on their tax program. I can only take standard deduction and I pay by the quarter. This year I get a nice refund that I applied toward next years taxes. By 2019 when we both have to take RMD they should be pretty much the same from that year on and easier to project the following year.

Cheers!

[DrRoy]

E-filed in mid Feb. Refund from the feds, owed the state, net +. Adjusted my payments to balance better.

[ChiliPepr]

Mine are still at the accountant, I only got my K1 two weeks ago and that was only the estimate. I will not get the final K1 until September so I have to extend to October.

[Stormy Kromer]

I'm usually ready by late January but have to wait for a K-1 which never arrives til March 1st.


A lot of my income is long term capital gains, under the $77,500 threshold so I did well on the Federal return. The state of MN taxes capital gains as ordinary income so my state income tax is within 10% of what I pay in federal tax.


I'm a life long MN resident, 4th generation, but if I had to choose a place to retire I would take a very serious look at states without a personal income tax.

[Mdlerth]

Forms all filled out but since I have to send the Treasury a check, I wait until the last minute.

[scrabbler1]

Quote:

Originally Posted by Stormy Kromer I'm usually ready by late January but have to wait for a K-1 which never arrives til March 1st. A lot of my income is long term capital gains, under the $77,500 threshold so I did well on the Federal return. The state of MN taxes capital gains as ordinary income so my state income tax is within 10% of what I pay in federal tax. I'm a life long MN resident, 4th generation, but if I had to choose a place to retire I would take a very serious look at states without a personal income tax.

Since 2013, I have actually owed more in federal income tax than (NY) state income tax. This is due to a greater and greater share of my income coming from qualified dividends and LTCG being taxed at 0% at the federal level while being taxed as ordinary income at the state level. This is despite small tax cuts at the state level being phased in the last few years. I am not counting any ACA subsidy because I consider that a reduction in my HI premiums for budgetary purposes, not a tax reduction.

[copyright1997reloaded]

About half done, enough to know I'm writing an over 20K check to the federal government and who knows what to the state. That has curbed my enthusiasm to complete them, although I do know I need to have them done "enough" to get close on what I owe (and which will need to be paid by the normal April filing date) even if I do go for an extension. May the person(s) who came up with the Alternative Minimum Tax roast in .... (Pension + working + deferred income + large capital gain = AMT hell.)

I always get "corrected" forms around mid March, so although I can do some preliminary work, I can't file like some of the early birds here.

[JOHNNIE36]

Taxes done and e-filed two weeks ago. Problem! Yesterday I discovered a 199DIV form that I failed to take with me to the tax preparer. Just a few hundred dollars. My return indicates I have a refund coming of around $500. Getting ready to do an amended return. Think I'll do that myself as it will be pretty simple but won't submit it until my refund is received. Don't want to get that mixed in. Any thoughts?

[ShokWaveRider]

Done, No refund, I have to pay them... "As Usual". Not a lot, but enough.

[jfn111]

CPA had my taxes done in late Feb. Owed a little money to the Fed and got a larger refund from the State. (The joys of being self employed and getting the quarterly's correct).

[athena53]

Quote:

Originally Posted by JOHNNIE36 Getting ready to do an amended return. Think I'll do that myself as it will be pretty simple but won't submit it until my refund is received. Don't want to get that mixed in. Any thoughts?

I agree- I had a similar problem last year (small correction which decreased my taxable income) and waited till the original returns were processed to file the Amended ones.

[FANOFJESUS]

Quote:

Originally Posted by scrabbler1 Since 2013, I have actually owed more in federal income tax than (NY) state income tax. This is due to a greater and greater share of my income coming from qualified dividends and LTCG being taxed at 0% at the federal level while being taxed as ordinary income at the state level. This is despite small tax cuts at the state level being phased in the last few years. I am not counting any ACA subsidy because I consider that a reduction in my HI premiums for budgetary purposes, not a tax reduction.

I hear you my family has given a lot more money to the state than the Fed's over the years. But under my new investment plan I should be under $600 a year.

[SheitlQueen]

Mine aren't done yet. Got held up waiting for a K-1 form. Everything is at the accountant waiting for a final review. Hopefully will be finished soon! I've never had a return done so late before.

[pb4uski]

E-filed and accepted on Feb 16th. IRS pulled what I owed (low 4 figures) from my bank on Feb 20.

[CitizenK]

I completed everything in Turbo Tax in February, but haven't filed yet. I prepaid 2018 property taxes in December, and have been hoping for an unambiguous clarification as to whether they are deductable on my 2017 filing. At this point, I don't think anything further will be coming from the IRS, so I'm going to file in the next day or so, and amend later if necessary.