About SteamTrain

SteamTrain

Here's the 2019 1040ES forms on the IRS website: https://www.irs.gov/pub/irs-pdf/f1040es.pdf _______________________________________

SteamTrain

NAhhhhh...this post was moved from another post (title shown), that was a question that had absolutely nothing to do with this incomplete question......it does not have this title. Reported to Moderators to fix it..

SteamTrain

@Rusa8 wrote: Turbo Tax failed to send my state tax due as specified on April 10 for 2019 and I was charged penalty and interest. How do I recover this from Intuit? It was their mistake. ______________________ In your PDF of your state tax filing...the state "Electronic Filing Instructions......" should look like the picture below ...IF...if it was possible to arrange the payment with yoru e-file. Check the routing, account numbers and date (and if BofA...they sometimes require a different routing number than the one on your checks)

SteamTrain

In prior years, the TTX extension forms require foreign residents to file the extension by mail, since the TTX form didn't allow foreign addresses. I personally have no idea if the TTX form 4868 allows foreign addresses this year....but if it doesn't, the link to the IRS form is shown below. Fill it out and mail it to the IRS...use some kind of local mail tracking/registration as proof you filed it on time. You will still have the same October 15 deadline as everyone else. https://www.irs.gov/individuals/international-taxpayers/us-citizens-and-resident-aliens-abroad-automatic-6-month-extension-of-time-to-file

SteamTrain

Hmmm....today is 15 June. Are you, perchance, residing in a foreign country? It's really kind-of important that you indicate that as a special situation if you are......answers can change for special situations.. https://www.irs.gov/individuals/international-taxpayers/us-citizens-and-resident-aliens-abroad

SteamTrain

Sure......BUT... 1) only for the very simplest of tax returns. Essentially W-2-only tax returns with only the Std Deduction. No itemized deductions, no investment income , no 1099-MIsc......i.e. W-2 income, interest, and some dividends (also can have 1099-R, and SSA-1099 forms....but too many details to post them all) and 2) You appear to have upgraded to "LIVE BASIC"....which is not free because you have decided you want to have someone review your tax file before you file it. You can supposedly remove "LIVE" as follows: https://ttlc.intuit.com/community/downgrading/help/how-do-i-remove-turbotax-live/01/27312/highlight/true#M57

SteamTrain

"CRUD" a transferred file from 2016 taxes that I answered in the "Community" because it had no Comment or Answer over there......so we cannot answer anything over there....no indication of when anything is posted. BAH !

SteamTrain

If for 2018 taxes: The pre-withholding is not a stand-alone assessment. Your 2018 tax return will be the final accounting of everything for the entire year. The 20% plus 10% prepayment is just an estimate of what might be required for the tax year. When you eventually prepare the year's tax forms, the 30% withholding gets applied and added to ALL your other tax withholding for the year as a total credit. Then all your income from all sources is added together to get a total taxable income, for which the standard income tax is applied, initially ignoring the 10% penalty, and then showing the added 10% penalty on line 59 of the new 2018 Schedule 4 . That gets added to your standard income taxes.....to show a total owed for the year. Then the total withholding from all sources is used as a credit against that total. So it all works out properly...total withholding vs. grand total taxes and penalties assessed

SteamTrain

ALL: This is a transferred 11 March post...so old news: _____________________________________________ But a reply anyhow: @avkoch wrote: I have the downloadable version. Apparently, when I removed the state e-filing (PA) because it was charging 19.99, the federal processing fee of $24.99 went away and I filed for free with DD to my bank. I thought I previously filed at least one state for free as well. I generally purchase 1-2 additional states for my children and family and I thought I e-filed all without additional fees. A couple things of Note for @avkoch ...and for anyone else, this is for Desktop Software users only : 1) The $24.99 fee was for the PA e-file....not the Federal e-file. A state e-file fee starts out at $20 early in the season, and is upped to $25 if you wait until March (exact date may vary). Since it is well into, and beyond March, this user will have to pay $25 if he/she wants to e-file the PA tax return. The only current exception is for a NY e-file, which is free. 2) This user's extra "other" states that are bought and installed on the desktop software, they will have to pay the state e-file fee for each one that is e-filed (except NY)...unless they decide to print and paper file those states tax returns thru the Post Office.

SteamTrain

Would have to be Desktop since Online can only take ~500 transactions/brokerage.....Desktop can supposedly take 2000/brokerage (but I'm not sure what it does for txf files) __________________________________________ Opinion......because I'm not sure of all the details...but: You'll probably have to go elsewhere and not use TurboTax consumer software. (professionals with professional software can supposedly handle it) Max $$ entry for a single field is 9,999,999.99 (but I don't know what the limit might be on multiple lines that will total over that) ________________________ Supposedly there is a way to enter your total final result on the schedule D, and then send the IRS a stock transactions details spreadsheet on paper thru the mail. But again, your total gain for the year would have to be less than 9,999,999.99 _____________ There are several folks more experienced in what the limits than i am...maybe they will see this and respond....and I may be somewhat off-base on some things...so be a bit leery of what I've noted above. BUT...I don't believe we've seen anyone with $100million of anything be able to use TurboTax consumer software.

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