<p>Re non-deductible IRA contributions, you have to file form 8606 to establish your basis. I’m not sure whether you can file that form by itself or whether you would have to file an amended return for 2012.</p>
<p>As said above, Roth contributions if you meet the requirements aren’t reported.</p>
<p>You also need to coordinate the maximum total contributions between the 401ks and the various kinds of IRAs depending on which way you choose to go.</p>
<p>The amount you can contribute to an IRA, whatever kind, is not limited by what you contribute to a 401-k. The deductibility of the IRA is determined by whether you have a retirement plan at work and your AGI.</p>
<p>Redid the 1099-DIV stuff - am really glad the TurboTax imports this stuff. $15 more in Federal taxes and $3 less in NH State Interest and Dividends taxes. Tore up the old check and made a new one out and have to get my wife to sign the form and send it in. I e-filed the Federal. So I just have to get a signature and then go to the post office. BTW, NH doesn’t have E-File. I have to finish the FBAR and do estimated NH payments. Also need to bring son’s returns to the post office.</p>
<p>Filed everything on Thursday. We filed a joint return for ourselves, federal and state, and also prepared federal and state returns for our 2 sons. With taxact online we had to pay for each ss#, so I think we probably paid more than if we had just bought turbotax and used it for all 3 people. Maybe next year… but I expect S#2 to do his own taxes next year. </p>
<p>Almost as an afterthought I decided to try itemizing, and turns out those healthcare premiums are good for something. Huge advantage to itemizing. I claimed 1800 miles (mostly volunteer work, but trips to and from doctors/dentists are included in medical expenses) This year I am on track to put in 3000 volunteer miles. 14 cents/ mile is slightly more than I pay for gas, but a deduction is a deduction. The refundable education tax credit is also a nice thing. This will be the last year for us.</p>
<p>NJres, nice that you are volunteering.</p>
<p>I received an incorrect k1 yesterday from a company that was one of my worst investments in my life. I don’t know why I expected differently but the controller did not get the amount of my investment in the company correct. I didn’t think that was a possibility, but considering the company, I should not be surprised. :)</p>
<p>There was another problem with the k1. The loss stated in the k1 isn’t large enough. The amount of the loss was also incorrect. Lol</p>
<p>I was sent an email yesterday stating that the k1 was already sent to the IRS.</p>
<p>Wonderful.</p>
<p>I just looked at TaxActs prices and I guess 3 x $21.95 is probably pretty close to TurboTax depending on where you buy it. My brokerages all offered me a $20 discount on TT (after I bought it of course). I really like to have the software on my own hard drive so that I can run it quickly whenever I want to without having to be connected to the internet.</p>
<p>I dropped things at the post office on Thursday too. It was actually busy at the post office - I imagine a lot of people were dropping off tax returns - those that wanted to beat the crowds. I don’t feel like doing the midnight parties at the post office anymore.</p>
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<p>I just ate the losses on the couple of incorrect K1s that I’ve received. We’re talking about just a few hundred. Not worth the aggravation of getting it fixed. I hope your K-1 errors are small.</p>
<p>No…they aren’t small. I wish they were smaller.</p>
<p>Whenever I get an email from this company my pulse quickens, but this Monday, I better get an email or a phone call from them…</p>
<p>Finally got going today with Turbo tax, and was dismayed to find that my D, graduated in 2012, turned 24 in December, is not any longer my dependent (I think). She made some money this year in a summer job, then went overseas to live on a stipend from the French government. </p>
<p>This apparently is the gift of a gap year. Too old the final year in college to be my dependent, though I certainly paid and supported all spring, and it is STILL her permanent residence. </p>
<p>Any other opinions or perspectives on this? Age 24 is the crux of the matter, apparently.</p>
<p>Depends on your child’s income…
You might be able to claim her as a dependent…</p>
<p>If she claims herself independent, then you can’t claim her as a dependent.</p>
<p>[My</a> Son A Qualifying Child For Tax Purposes | Bankrate.com](<a href=“http://www.bankrate.com/finance/taxes/son-qualifying-child-for-tax-purposes.aspx]My”>My Son A Qualifying Child For Tax Purposes)</p>
<p>In 25 years I’ve never seen K1’s computer cross checked from IRS to tax return. If I knew what the correct numbers were, I’d use them and deal with IRS when and IF they contacted me. Getting the company to correct it sounds like a nightmare 
(assuming you are talking about a large company, limited partnership, etc.)</p>
<p>Wow, NH doesn’t have efile. Didn’t know any states were that far behind. My state’s horrendous state dept. of revenue reduced error notices a lot after getting efile. Those key-punchers were not my friend…</p>
<p>dstark, thanks! That link clarified the issue nicely. And she did make too much money, unfortunately, for these purposes. For all other reasons, was very glad she made the money!</p>
<p>Sryrstress, that is great info in case I can’t get this resolved. Thanks.</p>
<p>Great Lakes mom, you are welcome.</p>
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<p>NH only has income taxes on interest and dividends and you get a $2,400 exemption per person so it affects few people. If you are filing joint and are getting a 3% return, you’d need $160,000 in principal to think about filing a NH return.</p>
<p>Actually I was wrong. NH does have an efile program. I might use it next year unless I have to pay TurboTax for the state return to do so.</p>
<p>You can always ask her for a refund. I paid for a course that son took last year but can’t claim him as a dependent to get the lifetime learning credit. So I’m going to take the lifetime learning credit money from his refund (he knows this).</p>
<p>BCEagle, a thought. </p>
<p>Another point to confirm-if I can’t take the tax credit, can she? Turbo tax is walking me through entering the 1098-T info. Which I can’t access, as her school does it all on line. Despite having the passwords, I seem to be locked out of using them. I will do her taxes, as I was not sure how all this would play out. </p>
<p>Hoping if I can’t use the credits, that she can.</p>
<p>
I paid $18 for TaxACT Deluxe Fed + State for my computer (I don’t like on-line either), and that gives me one free Fed e-file. Additional Fed and state returns are $8 to e-file.</p>
<p>So I think that is a bit cheaper than TurboTax.</p>
<p>Whoever gets the dependency exemption gets the education credits.</p>
<p>We used H and R Block software and it wouldn’t upload. Turned out the software had imported last years info, but gotten the middle initial wrong. When he corrected it, the amount he owed went up $2000. I am not feeling confident about this at all!</p>
<p>How do you know if your k1 is correct?</p>