I have no idea how to proceed

[moorecache]

Hello, I was just wondering how, if at all, I can file for a tax form showing I have zero income. This would be helpful for various reasons but if it's not possible, I understand. For the last couple of years I've mostly been supported by my family while I attempt to reach my long overdue goals. Besides my parents, I was somehow elegible for loans/credit & sold items on different platforms, though last time I checked, they still haven't enforced the $600 threshold for selling items and I didn't receive any forms from any of the platforms I sold items through. I filed for an extension, which was accepted and just realized how close I am to the deadline... I didn't realize until too late that the 1099-R I got for cashing in my pension/retirement savings last year from the Ohio State Fair (I worked at the fair for a little over a couple weeks last year) had a deadline way earlier in the year. It seems I cannot talk to an agent without paying but I'm trying to get help with filing without notable income and I'm almost completely sure I actually owe the IRS this year. What can I do in these situations? Thanks I'm advance for any help/advice anyone can provide!

[rjs]

You do have income. You will not be filing a tax return with zero income.

You have to report the income from selling things online, whether or not you got a tax form from the platform. The threshold is for the platform to send you a tax form, not for you to report the income. You have to report all of your income, no matter how little it is.

Cashing out your pension is also income that you have to report. I don't know what you mean by the 1099-R having a deadline earlier in the year. If the 1099-R is for 2023 you have to report it on your 2023 tax return, which is supposed to be filed by tomorrow, October 15.

If you got paid for working at the state fair in 2023, that is also income that you have to report.

Note that TurboTax Online will not be available after tomorrow. If you cannot complete your tax return and file it by tomorrow you will have to use the CD/Download TurboTax software.

[VolvoGirl]

Did you get a W2 from the state fair?  If you got a 1099R there was probably tax withholding taken out in box 4?  That might cover any tax due.   If you still have a tax due, the payment was due back on April 15, 2024.   

[moorecache]

@VolvoGirl I found the form and out of $311. 74, box 4 states that $62.35 was taken out for federal taxes.

[moorecache]

@rjs Okay, I appreciate the answer, I have no idea how to do any of this. I usually just import digital W-2 forms from ADP and be done with it but this/last year has been a little complex. Federal taxes have been withheld as I can see on the form I got from the state fair last year. In July/August 2023 I worked at the fair for 16 days, and 2 months later I cashed in the savings they were holding for retirement

What exactly do I need to file My taxes this year? I sold things on Mercari, Craigslist & eBay, though I sold them through a family member's account, have alerted them to this and I own a joint bank account with them specifically for eBay. I believe I may have pulled in stock from a couple of brokers but this might have been the year before. I'm currently sifting through my email & cloud storages to find any proof of this.

I appreciate all your help on such short notice.

[moorecache]

@Anonymous_ Haha, I was just reading that IRS free file webpage the other day. Appreciate it.

[rjs]

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@moorecache wrote:

What exactly do I need to file My taxes this year?

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@moorecache 

The first thing you have to do is get your records organized. You can forget about filing today. You will just have to file late, which means you will not be able to use TurboTax Online. Once you have the information complete and organized, TurboTax will guide you through entering it. Just read the screens carefully and follow the instructions on the screen.

It sounds like you got a W-2 from the state fair. You can enter it manually instead of importing it. Entering a W-2 manually is not difficult. Again, TurboTax will guide you.

You should have gotten a Form 1099-R for cashing out your pension. If you don't have it, ask the plan administrator for another copy. You enter the 1099-R in TurboTax and answer the questions that it asks you.

It's not clear what you mean by "pulled in stock." If you mean that you sold stock, each broker should have sent you a Form 1099-B showing the sales. All you have to do is enter the information from the 1099-B into TurboTax. If you don't have the 1099-B forms you can ask the brokers for another copy, or you might be able to get them yourself if you have online access to the brokerage accounts. The 1099-B for 2023 will show only what you sold in 2023. So you shouldn't have to "sift through" other records to find information about stock sales. All the information for the year will be in one place on the 1099-B. Of course, on your 2023 tax return you only report sales that you made in 2023, so you have to use just the 2023 1099-B forms. If you did not actually sell any stock in 2023 there is nothing that you have to report, and there will not be a 1099-B.

I'm not sure what you should do about the online sales using someone else's accounts. I guess you have to report your sales based on your own records. You don't need a 1099 from the online platform to report the sales. If the family member got any kind of 1099 form that includes your sales, the family member will have to deal with that on his or her tax return. They may already have taken care of it.

[moorecache]

@rjs I understand. I definitely should have put something on My calendar or something. I kept remembering but kept putting it off as I was busier than usual this year and kept thinking, "I got time". I'll look into contacting the IRS directly and explaining everything & trying to put all proof of any income in one place. I thought I had everything where it needed to be but I now see I either spread documents across different folders/locations/storages or didn't think I needed them. I don't believe it's a W-2 from the fair as none of the emails mention this, the document doesn't seem to state this and when I downloaded the file from the site, I specifically remember it saying "1099-R". I will try to get all this together and I appreciate the help. You definitely enlightened me about things, of which I had no idea, when it comes to taxes.