Filing USA Taxes 2015

[bangmai]

The fees can vary for filing State, too, and are usually extra.

[skatewash]

The fees can vary for filing State, too, and are usually extra.

That's true. I was fortunate enough to leave the US as a Florida resident.

[bangmai]

The fees can vary for filing State, too, and are usually extra.

That's true. I was fortunate enough to leave the US as a Florida resident.

Same for Nevada and a few others...Washington and Texas, I think. IN Virginia, if you make less than 14000; you don't have to file.

[Pib]

Well, I e-filed my federal returned today using TaxAct...and also electronically filed my FBAR. Hopefully done with submissions to Uncle Sam for another year....time for a beer.

[Pib]

Well, I e-filed my federal returned today using TaxAct...and also electronically filed my FBAR. Hopefully done with submissions to Uncle Sam for another year....time for a beer.

I just love electronically filing. As you folks know who efile your tax return yourself you get confirmation messages or can check a website along the way of how your filing is going.

For example, when I efiled today/Sunday around 3:30pm I got the confirmation email from TaxAct that they had received my return, they would forward it to the IRS, and they would notify me when the IRS accepts the return. OK, I just got that confirmation email from TaxAct that the IRS accepted my return...only 4 hours since submission. So I go to the IRS webpage where you can check the status of your return with the IRS and sure enough it shows it was received. And if it goes like last year I will get my refund direct deposited this coming Friday.

And regarding the FBAR electronically submitted to the U.S. Treasury, I got a confirmation email immediately from the U.S. Treasury they had received it with a control number. And if things go like last year in a business day or two and assuming I didn't make a mistake on the form, I will get a confirmation email from the Treasury Dept saying my FBAR was accepted with control number for proof of filing and acceptance.

Yeap, sure beats using snail mail (although you can't use snail mail anymore for your FBAR submission) and hoping your submission arrives...and hoping your submission was accepted...and knowing Uncle Sam is content with your submissions.

[Pib]

Well, I e-filed my federal returned today using TaxAct...and also electronically filed my FBAR. Hopefully done with submissions to Uncle Sam for another year....time for a beer.

I just love electronically filing. As you folks know who efile your tax return yourself you get confirmation messages or can check a website along the way of how your filing is going.

For example, when I efiled today/Sunday around 3:30pm I got the confirmation email from TaxAct that they had received my return, they would forward it to the IRS, and they would notify me when the IRS accepts the return. OK, I just got that confirmation email from TaxAct that the IRS accepted my return...only 4 hours since submission. So I go to the IRS webpage where you can check the status of your return with the IRS and sure enough it shows it was received. And if it goes like last year I will get my refund direct deposited this coming Friday.

And regarding the FBAR electronically submitted to the U.S. Treasury, I got a confirmation email immediately from the U.S. Treasury they had received it with a control number. And if things go like last year in a business day or two and assuming I didn't make a mistake on the form, I will get a confirmation email from the Treasury Dept saying my FBAR was accepted with control number for proof of filing and acceptance.

Yeap, sure beats using snail mail (although you can't use snail mail anymore for your FBAR submission) and hoping your submission arrives...and hoping your submission was accepted...and knowing Uncle Sam is content with your submissions.

And this morning I got the acknowledgement email from the FinCen folks assigning a BSA Identifier number (i.e., what I referred to above as a control number). Basically this means the FinCen folks reviewed my FBAR and are happy. Very easy process to file a FBAR and you get quick feedback on its acceptance/status. Regarding this year's FBAR submission since the same form revision number was still in use for this year as for last year's, I just pulled up last year's submission, update the bank account info, and submitted...none of this starting a new form from scratch not that if needing to do so would have been a big deal since it's an easy form to complete.

[gk10002000]

I just did my taxes using TurboTax and TaxAct. This year TurboTax was free to file for me while TaxAct would have cost $14.95 if I had filed using TaxAct. In general, I prefer TurboTax as I think it's a superior product. However, I have used TaxAct in previous years, sometimes it was free while TurboTax would have cost a fee. Things change year by year. If you try one and it requires you to pay, you may find out that another one will allow you to file for free.

My taxes are finished but I will be filing for an extension in March for an October deadline to allow the stock market to recover to the point where I can decide between doing recharacterizations of my traditional to Roth IRA conversions performed last year. Part of a long-term strategy to convert as much money out of traditional IRAs and into Roth IRAs without paying any tax for doing so. For 2015, it looks like I will only be able to keep a $2,000 conversion while having to recharacterize everything else to avoid paying any income tax. But if I'm able to do this every year for the foreseeable future it will help my tax situation when I am forced to do Required Minimum Distributions when I reach that age.

Good for you skatewash. I will be converting some or all of my traditional IRA to my Roth IRA when the time is right. Mostly my biggest consideration will be when I am in a lower tax bracket for the year, and before I roll over my 401k monies from this job into my Traditional and Roth IRAs. Reading the fine print on those conversions and the way they count the monies in all one's IRAs, it will be better for me to keep the monies in the 401k, then do the conversion, then roll the monies out of the 401k. I got to run the numbers to see how much of a difference it makes. I am willing to pay for some simplicity and convenience and would prefer to do the conversion at one time. But my 401k monies are sizable and I have to look at the numbers. At the moment I am still working on my contract assignments and my income is too high to even consider converting.

Edited February 24, 2016 by gk10002000

[Langsuan Man]

Taxact does schedule D very well...you can import your Fidelity stuff direct, but Scottrade is manual. I'm paying 11.95...as I signed up before the new year. It covers sale of homes and up to 2 rentals, I believe. It allows you to save it in a PDF, after you file electronically...it will also remember your accounts next year. I had paid taxes on dividends in the UK, Germany (26.375%), and Canada....not a problem.

Are you using the online version or the CD / Desktop version ?

The online version only shows the below listed brokerage accounts as being supported:

[craigt3365]

I've been using TT since they first started out many years ago. Went to the online program when I was traveling around a lot. This past year, due to some tough tax problems, couldn't file until November. I filed extensions and didn't owe any taxes.

By that time, it was too late to use TT online. So, got the program downloaded. Frankly, I like it much better. Seemed easier to use and had more features. I think I might use the DL version again this year. Though I did have to file a paper copy, which was no big deal.

I hate doing my taxes! LOL

[watcharacters]

The US embassy in Chaing Mai will give as helpful as possible generic advice regarding taxes. My encounters with them are totally positive.

I wonder what prices anyone has found for Turbo Tax.

Edited March 3, 2016 by watcharacters

[Langsuan Man]

The US embassy in Chaing Mai will give as helpful as possible generic advice regarding taxes. My encounters with them are totally positive.

I wonder what prices anyone has found for Turbo Tax.

Many banks and brokerage firm's have discounts on Turbo Tax and other online tax preparation software. Just look on their home pages this time of the year since they are now pushing out 1099's

[gk10002000]

FYI: Just a data point. I am in the USA and mailed in my taxes on Feb 20. On March 8 I got my refund direct deposited (a few K) into my USA bank (Etrade). Barely took 2 1/2 weeks. That beats many electronic filing timelines I have heard of. I filed the Long From 1040, Schedule D, and one 8949 with Box E checked for long term sale gains. My 1099Divs and all my dividends and muni bond interest are substantial but that information is completely and automatically reported to the IRS so as long as the numbers I write down match what the IRS received (which they do since I don't itemize), and I just take the standard single exemption and deduction, things go pretty quickly I guess. I also had two W-2 Gs for some slot machine jackpot wins and I of course put those down on the miscellaneous income line on the 1040.

[Pib]

FYI: Just a data point. I am in the USA and mailed in my taxes on Feb 20. On March 8 I got my refund direct deposited (a few K) into my USA bank (Etrade). Barely took 2 1/2 weeks. That beats many electronic filing timelines I have heard of. I filed the Long From 1040, Schedule D, and one 8949 with Box E checked for long term sale gains. My 1099Divs and all my dividends and muni bond interest are substantial but that information is completely and automatically reported to the IRS so as long as the numbers I write down match what the IRS received (which they do since I don't itemize), and I just take the standard single exemption and deduction, things go pretty quickly I guess. I also had two W-2 Gs for some slot machine jackpot wins and I of course put those down on the miscellaneous income line on the 1040.

I filed mine on 21 Feb and got the refund/direct deposit today/9 Mar...17 days.

But it's still not my fastest as one year (and it may have been last year...if not within the last few years) I got it in 6 days which was by far my fastest ever...guess everything when right on that refund. If I remember right I efiled on a Saturday and got the refund the following Friday....I was amazed.

[gk10002000]

FYI: Just a data point. I am in the USA and mailed in my taxes on Feb 20. On March 8 I got my refund direct deposited (a few K) into my USA bank (Etrade). Barely took 2 1/2 weeks. That beats many electronic filing timelines I have heard of. I filed the Long From 1040, Schedule D, and one 8949 with Box E checked for long term sale gains. My 1099Divs and all my dividends and muni bond interest are substantial but that information is completely and automatically reported to the IRS so as long as the numbers I write down match what the IRS received (which they do since I don't itemize), and I just take the standard single exemption and deduction, things go pretty quickly I guess. I also had two W-2 Gs for some slot machine jackpot wins and I of course put those down on the miscellaneous income line on the 1040.

And yesterday I got my California state tax return approved, a whopping $34 dollars. They say that will take about one week more to get direct deposited. Anyway, I am very surprised at the speeds these were processed. It is always nice to get the books closed, especially since I may be traveling to the LOS soon. gots to take a break from work