@Opus 17 Thanks for clarifying my ROth question with an example. your example makes total sense. My mistake was , I temporarily forgot ( a brief moment of insanity ) that Roth contribution are POST tax. the example makes complete sense and its good to be able to do a sanity check on the W2 BOXES 1 AND 5
1. However, now its dawning on me that TT didnt ask me about the $5k that is on W2 box 12 code AA (the roth catchup contributions she made) . does this amount have to appear anywhere on the 1040 ? from the taxpayer perspective, since its post tax anyway, all that matters is that the $5k show up in your charles schwab ROTH IRA account i think?
2. thanks for pointing out the imputed income regarding company provided healthcare to DP. I thought that (espcially in state of CA) that DP has all same tax benefits as a spouse? are you saying that if we were married, my GF would not have to pay tax on that imputed income?
3. i can see imputed income on W2 showing as $7k (as a comment). I also see box 12 DD of $14500. does that make sense in that if employer supposedly pays $14.5k , than about 1/2 of that is benefiting the DP?
4. is that $7k of imputed income already in box 1 wages? im guessing it is since TT doesnt ask me anything about it
finally... i never really thought about it, but should my GF claim me as a dependent? I can make the case that she provides more than 50% of my expenses. in my particular case, i own a home , have investment income ..enough to itemize my deductions and pay considerable taxes (usually on roth conversion tranches). if Im claimed as a dependent on her return, how badly does impact me on mine?
Thanks!
