Tax return amount?
Answers: If you are asking what refund to expect, go to the H&R Block tax estimator, fill out your info, and get a pretty good estimate of your taxes and refund.
http://www.hrblock.com/taxes/tax_calcula...
whats your question bozo?
guess what i just got mine back, and woohoo!!
I'm not sure you understand just what a refund is. Through the year you might have money withheld from your paycheck for federal income tax. At the end of the year, you prepare a form called a tax return to calculate how much tax you owe total for the year, and compare that to what was withheld. If you had more withheld than your total tax, you get the extra back as a refund. If you didn't have enough withheld, you have to pay the rest rather than getting a refund.
K1 please lend a hand!?
I recieved an inheirence check from my grandmothers estate September 07. I called attorney to draw from K1 form, but it seems hes within no hurry to send it out, and I desperatly necessitate to file my taxes. What can I do? Can I still folder?Answers: I am a retired Trust Officer. My job be in factor to settle estates.
The K-1 form is a form used in conjunction beside the 1041 to give to beneficiaries of estates and trusts that shows income, gain etc for a tariff year.
Here is the rub...The 1041 is not due until April 15..so the attorney does not have to furnish a k-1 to you until April 15. I know is is a affliction in the... but i.e. the way it is.
I would suggest you request an automatic extension for your personal return afterwards file when you seize your K-1
Another issue is that the estate may be on a fiscal year. So if the Estate's fiscal(tax) year ends sometime in 08, next your September 07 check might not be 07 income.might be 08. Ya gotta check that too.
You could file very soon then amend your return when you grasp the K-1 if the income is 07. Might be that your check is NOT income but part income and cut principal meaning that adjectives your check might not be taxable.
Regards.
An inheritance is not taxable. A K-1 from an fiduciary income tax return might hold some other items that would affect your return.
Where on turbo tax do you put in the homestead exemption?
Answers: You don't. A homestead exemption reduces your property taxes, not your income taxes. Actually, since it reduces your property taxes your income taxes will go UP a bit if you claim a deduction for property taxes paid.
Nowhere. It would affect property taxes paid