Filing taxes?

[Stretch]

Okay, here's the scoop:

I'm 21, still being claimed as a dependent. I made somewhat less than $10,000 last year, and around 23% of it was withheld all told in Federal, FICA and state taxes.

What's the easiest way to file my return? A friend of mine recommended something called TurboTax, but thought I'd get some outside input as well.

[Daniel]

Go to IRS. Do a 1040 EZ submit it electronically by one of the free sites. Takes about 20 minutes.

[Kuyuk]

irs.gov

download the form :1040 EZ, mail it in for 38 cents or whatever.

I dont think you get FICA back.


K.

[Jorddyn]

irs.gov

download the form :1040 EZ, mail it in for 38 cents or whatever.

I dont think you get FICA back.


efiling is just as easy, and free. irs.gov has links to free providers.

Most "free" providers charge you for your state return. Complete your free Federal, then go to your state's Department of Revenue website, print the forms, and fill them out by hand. State Income Tax forms are often based off of Federal, and tend to be simple.

And no, you don't get FICA back. Unless you make tons of money, and have more than one job in a year, but that's a different rant :)

Jorddyn

[Skirmisher]

Yay for CPA advice!

[Kuyuk]

Just did turbotax ez file, what a pain in the ass to do online, I stopped at the W2's

Just easier for me to get the form from the IRS and do it myself.


K.

[Skeeter]

1040 EZ you can do by phone. it's cake and it's free

[Drew]

Florida doesn't have income taxes, woot.

[radamanthys]

What about if you got a 1099-MISC (nonemployee compensation) along with a W-2 from two seperate employers? I assume I have to file Schedule SE, Schedule C-EZ, and possibly form 4137? I'm still a dependant- any student things I can manage? Anything to help? I'm looking at a rather hefty payout considering I only made 5200 bucks.

edit: And of course, the full 1040

[peam]

I'd advise using form 4059J and a Dependant Status I-4419 Form.

[Jorddyn]

What about if you got a 1099-MISC (nonemployee compensation) along with a W-2 from two seperate employers? I assume I have to file Schedule SE, Schedule C-EZ, and possibly form 4137? I'm still a dependant- any student things I can manage? Anything to help? I'm looking at a rather hefty payout considering I only made 5200 bucks.

edit: And of course, the full 1040

Fill out the full 1040. Put your non-employee comp on the schedule C. Along with this, include any expense you might possibly be able to tie to it, including driving to and from, any supplies you used for the job, etc.

4137 is for unreported tip income. If you had a serving job during the year, you might have to fill this out. Check to see how much tip income your employer included in your wages.

Schedule SE will calculate your FICA - 15.3% of the earnings from non-employee comp. If you had under $400 (I think) in 1099 earnings, you don't have to file this form. If you do fill it out, make sure to follow directions carefully, since you get a deduction on your Federal taxes for half of what you pay.

The fact that you're a student can definitely help. Look at both the Hope Credit and Lifetime learning credit. If your parents didn't take either for your expenses, you can. The Hope Credit is much higher, but keep in mind that you can only use it for 2 years, so use it wisely.

I think that's about it.

Good luck.

Jorddyn

[radamanthys]

I figured it was for reporting social security money and stuff. Since that was on the nonemployee comp. part, I was wondering if I'd have to report it. I did consulting for a hospital.

So far I have most of the 1040, Schedule SE, and Schedule C-EZ filled out. Both credits have been taken, I think.

Haha, I actually looked for those other forms, Peam.