topic Do I need a separate program to complete my wife's 2019 taxes in Business & farm

Do I need a separate program to complete my wife's 2019 taxes

hough328 — Thu, 17 Dec 2020 15:12:26 GMT

Re: Do I need a separate program to complete my wife's 2019 taxes

xmasbaby0 — Thu, 17 Dec 2020 15:31:55 GMT

We must be missing some information here. Were you and your wife married in 2019? If so, the 2019 filing choices for the two of you were to file marred filing jointly or married filing separately. If you were NOT married yet in 2019, and she is the one who did not file a 2019 return, her filing status will be single and you need to use 2019 software. Please provide some details so we can give you more help.

Online preparation and e-filing for 2017, 2018 and 2019 is permanently closed.

To file a return for a prior tax year

If you need to prepare a return for 2017, 2018, or 2019 you can purchase and download desktop software to do it, then print, sign, and mail the return(s)

https://turbotax.intuit.com/personal-taxes/past-years-products/

You may also want to explore purchasing the software from various retailers such as Amazon, Costco, Best Buy, Walmart, Sam’s, etc.

Remember to prepare your state return as well—if you live in a state that has a state income tax.

When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s. Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS/state received the return.

Federal and state returns must be in separate envelopes and they are mailed to different addresses. Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.

Note: The desktop software you need to prepare the prior year return must be installed/downloaded to a full PC or Mac. It cannot be used on a mobile device.

If you are getting a refund, there is not a penalty for filing past the deadline. If you owe taxes, the interest/penalties will be calculated by the IRS based on how much you owe and when they receive your return and payment. The IRS will bill you for this; it will not be calculated by TurboTax.

Re: Do I need a separate program to complete my wife's 2019 taxes

Opus 17 — Thu, 17 Dec 2020 18:20:44 GMT

If your wife has a certain kind of business, the business needs a separate return prepared first. Businesses that require separate business returns are LLCs with more than one owner, S-corporations, C-corporations, and unincorporated partnerships with more than one owner who are not spouses. This kind of business or partnership tax return requires a separate program called Turbotax Business, which is a CD or download for PC only (no online or Mac version) and is due March 15, not April 15.

For any other business, your wife would file a schedule C attached to her personal return that lists business income and expenses, that flows to the main form 1040.

Then, married couples always have the option of filing a joint return. This is a single return that lists the income and deductions of both spouses to get one joint combined tax bill and joint combined refund. You can file jolty even if one spouse has much higher or lower than the other spouse and even if one spouse is self-employed and the other is not. Joint filing has lower tax rates and better deductions.

If you don't agree to file jointly or can't for some reason, you have the option to file as married filing separately. Each spouse prepares a return listing their individual deductions and income. Separate filing usually results in a higher tax bill since many deductions and credits are reduced or disallowed with joint filing.

If using Turbotax installed on your own computer from a CD or download, you can prepare more than one tax return. Just give each file a different name, each tax return is a separate document like having multiple word processor or spreadsheet documents. If using turbotax online and you want to file two separate returns, you need to create two separate accounts with different user names and passwords (they can share an email address).