Tax Q: should I get 3K return or $400? Used 2 diff softwares, chance it?
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Date: March 19th, 2018 9:32 PM Author: Charcoal Round Eye
TurboTax is more accurate most likely and I get $400
TaxAct fucking sucks and it misapplied some data on my side gig, but has a refund of $3K
Obviously the Q is whether I'll be audited, which is less than 1% but it's 3K and I could easily claim unintentional error and just pay a small amount if they come at me since I did use a program to guide me
(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641577) |
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Date: March 19th, 2018 9:45 PM Author: Charcoal Round Eye
I think my AGI was like 110K or so
I had another 10K from a side business
It is so fucking tempting to take this 3K but I worry a big fat zero for business income/self tax will be a huge red flag
(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641652) |
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Date: March 19th, 2018 10:35 PM Author: Charcoal Round Eye
I can see the 1040 but cannot see the Schedule C form until AFTER I submit on TaxAct, you literally cannot get a preview
On TaxAct it shows my business income as $0 (line 12, 1040)
On TurboTax it's around 5K (line 12, 1040)
To me this is too great to ignore, especially since I have a 1099 MISC for 10K, it would be such a red flag to report $0 business income
(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642070) |
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Date: March 19th, 2018 10:30 PM Author: Charcoal Round Eye
1099 Misc item 7, nonemployee compensation is ~10K
on the tax form, 1040, line 12 it specifically says "Business income or (loss). Attach Schedule C or C-EZ" and according to the TaxAct preview it comes up as empty (or 0)
last year it was ~4K
(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642017) |
Date: March 19th, 2018 10:51 PM Author: Charcoal Round Eye
Just looked at TurboTax taxable income: 110K
TaxAct's: 105K
It's clearly missing about 5K somehow
(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642223) |
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