<p>So this is my first time doing my taxes as an adult, as I recently started my job in August and I’m in a new state. I did my own taxes before when I worked part-time retail in another state, but not on an actual full-time job. I live in Maryland, so I pay both federal and county income taxes. Is Turbo Tax a good way to go, or would it not be able to help with the county income taxes? Will it hold my data so when I need it for other things, I can print the forms?</p>
<p>I just need some help getting used to the new state tax forms and doing my federal taxes for a few years…not being able to DIY it for me is very frustrating!</p>
<p>Being full-time doesn’t make your taxes any more complicated (though having income in multiple states in one calendar year can complicate things somewhat, if that’s your situation). </p>
<p>It’s worth noting that programs like TurboTax don’t actually help you learn how to do your own taxes - they just do it all for you. If learning is your ultimate goal, you’ll want to go a different route, like VITA or asking a tax-savvy friend to help you fill out the forms (in exchange for money or baked goods or whatever). </p>
<p>Turbo Tax is easy to use, especially since you won’t have any real deductions, etc. I prefer the CD version because there is more functionality (actually you can download it now too) vs the online version but either way for you is probably going to be fine. You can do your state and county taxes on it as well. The version I get I get one free state download. If you lived and worked in 2 different states last year, 2012, you will need to file taxes in both states though. You can e-file your taxes through Turbo Tax and if you set up to have a refund, if you get one, direct deposited, you will see your refund within a couple weeks. This year is going to be goofy with the last minute tax stuff so you might not be able to file until March or so.</p>
<p>I disagree that you don’t learn to do your taxes with Turbo Tax. you very much do. The program helps you learn what you need to do your taxes and then by checking the forms, etc. learning where that information goes.</p>
<p>Please understand that you are a part time resident for Maryland this year and a part time resident from the State you lived in prior to moving to Maryland. You also need to ask your parents if they expect to claim you as a dependent</p>
<p>I made <$200 in my previous state this tax year, but I did make some income so I do have to claim it. In terms of timeline, I’m used to doing my own within a week of getting my forms/W2, so waiting until March is going to be weird for me! </p>
<p>etselec–I make more than $51,000 so VITA isn’t an option for me. I have a friend who is an accountant, but I don’t feel comfortable involving him in my financials, I’d rather do something from a third-party or something of the sort</p>
<p>Tom1944–I don’t believe my dad plans to claim me as a dependent, but I’ll have to check.</p>
<p>If you do not have anything with special tax rates or deductions, then most of it should be simple to do. Just download the forms and instructions from [Internal</a> Revenue Service](<a href=“http://www.irs.gov%5DInternal”>http://www.irs.gov) and the appropriate state web sites and follow the instructions. Even the full long form 1040 (as opposed to the shorter 1040A or 1040EZ that you may be able to use) is not too scary since you will be leaving most of it blank or zero.</p>
<p>The only possibly complex thing would be figuring out how to handle two different state income taxes in a way that avoids double-state-taxing the same income; there may be special forms at the two states to handle that if it becomes an issue.</p>
<p>soccergurl - I believe you are from Indiana so from 1/1/12 until 08/xx/12 you would file for Indiana and only include income earned in Indiana. From August xx, 12 you file for Maryland. Only include income earned while living in Maryland.</p>
<p>Many times parents can still claim a child the year they graduated college. They need to look at the rules in the 1040 instructions. Did your parents provide more than 50% of your support in 2012?</p>
<p>Along with other factors the support provided by the parents must be more than soccergurl earned. College costs count if paid by the parents.</p>
<p>If it is close, run the numbers both ways. Honestly, you should be able to claim yourself and take the tax breaks now I would think :D. It may work out better one way vs the other–you claiming vs your parents claiming.</p>
<p>I would recommend Turbo Tax online. It is very easy and intuitive. You can run your numbers and pay ($30 -50) only when you are ready to submit. It really pays off in tax return.</p>
<p>I probably would’ve used the free software if I knew it existed, but I downloaded the H&R Block tax prep software and it was really easy to use. I can’t say I learned how to do my own taxes but I was able to easily input multiple W2 forms and also my grant money and scholarships. Unfortunately I ended up owing money because of the amount of grant money I got in excess of tuition, but at least I didn’t pay too much for the software and it is good for several years.</p>
<p>It’s not a question of whether her parents provided 50% of the support, but of whether she provided 50% of her OWN support - slight difference. Any loans that were taken out to hep pay for school count a support provided by whoever is responsible for the loans (Parent Plus loands are counted as their support, your own loans are your own support).</p>
<p>OP you say you make more than $51,000 - did you make more than $51,000 in 2012, or is your salary more than $51,000. VITA goes by what you earned during the tax year. I ask because $51,000 over a 4 month period translates to a pretty significant annual income! If you salary is that significant, it might be worhtwhile to spend some money on a geed paid tax preparer who will ensure both state returns are done properly, and explain any intricacies of the MD return, so you can do it on your own next year.</p>
<p>I agree that tax software can be a good idea. If you choose to go that route, H&R Block offers a free Second Look that can be used before or after you file. They will review everything. If it is okay, you will have the Block guarantee. If it is different, you can amend for a smaller fee than visiting them regularly.</p>
<p>soccergurl7988–your taxes using Turbo Tax or whatever will be easy. You don’t need to go to a free place to get them done or even need to go to a tax center. It takes time but it is not difficult at all.</p>
<p>CTScoutMom–I definitely haven’t made $51,000 yet, my overall salary is over $51,000. In terms of the 2012 tax year, I’m more around ~$16k. One day for the $51,000 in 4.5 months I wasn’t sure if you meant 51,000/year or /tax year, as normally it doesn’t matter, except if you just started working like me. </p>
<p>SteveMA–Thanks, I thought TT would be okay but wanted some feedback. Dad does his own and BF’s parents have an accountant (but are in Phoenix, so no help there) so I’ve never had any direct exposure to a tax software</p>
<p>If you just have wage/salary income, small amounts of interest income, and no large itemized deductions, then doing the income tax forms by hand should not be difficult. Actually, it would be a good idea to do it by hand once to see how things actually work (though you can also use a tax program to check your work). If you use a tax program, review the result and try to figure out where each number came from.</p>
I wasn’t sure if you meant 51,000/year or /tax year, as normally it doesn’t matter, except if you just started working like me. </p>