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Taxes questions


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#1 bruinator

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Posted 15 February 2018 - 02:25 PM

Hi, I am doing my elderly mother's taxes for her. I am hoping someone can help me on what needs to be sent in with the forms. Things i have are her Social Security benefits for the yr, her bank statement, she owns a home and gets discounts for the elderly on sewer and water. I assume i have to give a copy of both her SS benefits and her bank statements to both the feds and state, is that true? Also, do i need to send in what she pays for the year on water and sewer as well? Her IRA that is not taxed ( i think)? Anything else needed to be sent it or not sent in?

 

Any help is greatly appreciated.

 

thx


Edited by bruinator, 15 February 2018 - 02:26 PM.


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#2 OldPhil

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Posted 15 February 2018 - 02:36 PM

There is a possibility that no taxes are due, there for no filing needed!

 

Your friend Google below!

 

https://www.google.com/search?q=TAXES+FOR+RETIRED+PERSON+ON+SS&ie=utf-8&oe=utf-8&client=firefox-b-1

 

I have not filed in the last 7 years!


Edited by OldPhil, 15 February 2018 - 02:37 PM.

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#3 bruinator

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Posted 15 February 2018 - 02:47 PM

was hoping someone personally could help me but thx.



#4 OldPhil

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Posted 15 February 2018 - 02:57 PM

I did you need to know what income she had, also did she take SS early or did she wait for full term.  If she took it early she is only allowed to make so much before she needs to pay 1 out of every 3 she earns.  It is important for you to read and get things straight, once you have the facts you may or may not have to file.  Nothing but income counts!!!!!!!!!!!!!!!!!!!!!

 

To get personal help you would need to divulge her personal info on the net!!!!!!!!!!!!


Edited by OldPhil, 15 February 2018 - 02:58 PM.

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#5 hamluis

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Posted 15 February 2018 - 03:35 PM

I'm a former accountant...the best advice I can give you...go online and let TurboTax or one of the same ilk...do all the figuring.

 

The alternative is to get a copy of Form 1040...and the instructions...and read through it line by line.  The key figure for determining tax culpability is Adjust Gross Income.

 

There is no "quick fix" for doing income taxes in the U.S.  But...there are a large number of online resources to assist anyone. If you insist on doing it yourself...then you need to be ready to at least read all documentation that may apply to your situation.  The IRS provides all this online free.  Last time I checked, many, if not all, state governments also are online.  City taxes may be a different matter.  But, basically, the easiest/best thing to do today...is to file online.

 

Basically...you need the documentation that TT or any other online assistor will ask for.

 

Dependent on where you live, you may have state and Federal considerations.

 

The IRS has never had a requirement for any forms other than those required to be issued concerning fiduciary transactions by employers, banks, pension plans, etc. 

 

Louis

 

https://www.google.com/search?q=do+I+have+to+file%3F&ie=utf-8&oe=utf-8&client=firefox-b


Edited by hamluis, 15 February 2018 - 04:04 PM.


#6 bruinator

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Posted 15 February 2018 - 04:14 PM

I'm a former accountant...the best advice I can give you...go online and let TurboTax or one of the same ilk...do all the figuring.

 

The alternative is to get a copy of Form 1040...and the instructions...and read through it line by line.  The key figure for determining tax culpability is Adjust Gross Income.

 

There is no "quick fix" for doing income taxes in the U.S.  But...there are a large number of online resources to assist anyone. If you insist on doing it yourself...then you need to be ready to at least read all documentation that may apply to your situation.  The IRS provides all this online free.  Last time I checked, many, if not all, state governments also are online.  City taxes may be a different matter.  But, basically, the easiest/best thing to do today...is to file online.

 

Basically...you need the documentation that TT or any other online assistor will ask for.

 

Dependent on where you live, you may have state and Federal considerations.

 

The IRS has never had a requirement for any forms other than those required to be issued concerning fiduciary transactions by employers, banks, pension plans, etc. 

 

Louis

 

https://www.google.com/search?q=do+I+have+to+file%3F&ie=utf-8&oe=utf-8&client=firefox-b

Louis, The only questions i need is who needs the following forms for states and feds plz... Social security Benefit statement, bank statement, 1099R form, water and sewer assistance. She owns a house. I already filled out the forms. Can you answer those for me plz? I would greatly appreciate it.   thx


Edited by bruinator, 15 February 2018 - 04:15 PM.


#7 hamluis

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Posted 15 February 2018 - 04:39 PM

I've given you the best advice I can honestly give.

 

Social Security benefits, home ownership...those are potential tax issues requiring more knowledge than I have of your situation.

 

1099s and W2sx are forms that must be sent to respective individuals...but there is information that should be read before just sending them off to anyone.

 

Louis



#8 The-Toolman

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Posted 15 February 2018 - 05:02 PM

If all else fails there should be some info here about what you need and how to do it.

 

https://www.irs.gov/forms-instructions


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#9 r.a.d.

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Posted 15 February 2018 - 06:39 PM

IRS also mentions this on their site:

Volunteer Tax Preparers

Free tax preparation is available through more than 12,000 Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) sites in communities across the nation. Taxpayers should check for the VITA site location closest to them by calling 800-906-9887. Taxpayers may also call the AARP Tax-Aide Program the IRSs largest TCE partner at 888-227-7669 to find a convenient location.

#10 OldPhil

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Posted 15 February 2018 - 07:08 PM

Check your local library mine does them free.


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#11 The-Toolman

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Posted 15 February 2018 - 07:11 PM

Some Churches and Junior Colleges also offer free tax services.


Under certain circumstances, profanity provides a relief denied even to prayer.

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Inspiration can be found in a pile of junk. Sometimes, you can put it together with a good imagination and invent something.

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#12 bruinator

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Posted 15 February 2018 - 08:52 PM

i'm going to try turbo tax. I think i AM overthinking this. Sorry for the topic. I hope this is easy enough  :)






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