Page 5 of 5 FirstFirst ... 3 4 5
Results 41 to 44 of 44
  1. #41
    KrisM is offline Clean Sweep forum moderator
    Join Date
    Mar 2004
    Location
    MI, USA.
    Posts
    26,533

    Default

    I would do the 2023 in Turbo Tax with 2024 numbers and print out the forms. Then print a blank set. Then fill in the blank with 2024 numbers and alter the places that need to be altered - the standard deduction, the amount exempt from kiddie tax, the tax bracket levels. You will have to do your own as well, since it's used in the kiddie tax form. To me, seeing it all written down helps a lot, so going through the calculations is helpful. There may be an easier way, but I don't know it. Maybe someone else does.
    Kris

  2. #42
    JustMe is offline Diamond level (5000+ posts)
    Join Date
    Apr 2003
    Location
    .
    Posts
    7,747

    Default

    Quote Originally Posted by KrisM View Post
    I would do the 2023 in Turbo Tax with 2024 numbers and print out the forms. Then print a blank set. Then fill in the blank with 2024 numbers and alter the places that need to be altered - the standard deduction, the amount exempt from kiddie tax, the tax bracket levels. You will have to do your own as well, since it's used in the kiddie tax form. To me, seeing it all written down helps a lot, so going through the calculations is helpful. There may be an easier way, but I don't know it. Maybe someone else does.
    This is an excellent idea! I can print out the Turbotax forms? You are right that part of my problem is I need to see the forms. Does Turbotax let me just print out. I have not paid yet, just put different numbers in; it seems to be asking me to file now, which of course I dont want to do (my real taxes were done by my accountant, not by Turbotax). So, how does that work, anyone know how can I just print them out? Can I then change and print another set out? Do I need to pay?

    ETA: Also, in case anyone is reading and knows, my understanding is that for tax purposes (not FAFSA, dont want to confuse people) our college kids who have taxable scholarships and some smallish amount of work money still have to be declared as dependent for tax purposes, as they will not consider the scholarship money as money the kids use for their support and only consider the work income for that (even though they have to pay taxes on the taxable scholarships).
    Last edited by JustMe; 4 Weeks Ago at 01:05 PM.
    lucky single mom to 20 yr old dd and 17 yr old ds through 2 very different adoption routes

  3. #43
    KrisM is offline Clean Sweep forum moderator
    Join Date
    Mar 2004
    Location
    MI, USA.
    Posts
    26,533

    Default

    I don't know if Turbo Tax lets you print blank, but you can print from the IRS site: https://www.irs.gov/forms-instructions

    I pay for Turbo Tax, so can't help about printing filled out forms for a free version. but, I print my forms before filing because I like seeing it all on paper.

    Yes. They are dependent unless they pay for more than 50% of their support and scholarships do not count as support. The scholarships really confuse things when they count as earned income, unearned income, support, etc. Total pain.
    Kris

  4. #44
    JustMe is offline Diamond level (5000+ posts)
    Join Date
    Apr 2003
    Location
    .
    Posts
    7,747

    Default

    Thank you, KrisM.
    lucky single mom to 20 yr old dd and 17 yr old ds through 2 very different adoption routes

Page 5 of 5 FirstFirst ... 3 4 5

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •