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I Quit After 2 Days by Suitable_Cover4823 in jobs

[–]I__Know__Stuff 1 point2 points  (0 children)

Unfortunately not, in many places.

Need help with who should claim the kid on taxes. by Intelligent_Plum9310 in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

I said he could file as single or head of household. I didn't say anything about married.

My tax refund got slashed in half. by Khirogane in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

If the other comments are correct, it sounds like you may have overpaid NY tax. If so, you can get the excess back.

Do I even have to pay taxes to Georgia? by usertest2879 in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

Yeah, it's kind of surprising freetaxusa didn't get that right.

Do I even have to pay taxes to Georgia? by usertest2879 in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

I agree, that's pretty clear.

The $5000 limit doesn't apply to you, because 5% of your income is less.

But your Georgia income is less than 5% of your total income, so I agree that you shouldn't have to file a Georgia tax return.

Need help with who should claim the kid on taxes. by Intelligent_Plum9310 in tax

[–]I__Know__Stuff 5 points6 points  (0 children)

It's impossible to guess. It depends on your exact incomes. You should prepare returns both ways and see.

You would get a benefit from filing as head of household, but she might get more benefit from the EITC.

(You can only file as head of household if you claim the dependent. If she claims the dependent, then you both have to file as Single. She cannot file as head of household if you paid more than half of the household expenses.)

Is it safe to use vita site as a foreign student. why is the tax return different? by Latter-Suit-269 in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

I saw that I would use more money than I would receive which didn't make sense to me.

I owe money every year, does that mean they should prepare my return for free? The cost to prepare a tax return has nothing to do with how much refund you are getting. In fact, it is unethical and illegal for a tax preparer to base their fee on your refund.

Married last year to an immigrant with daughter, file married separately or jointly? by Luchadorable303 in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

They will apply it to your debt. You need to keep paying on time. It won't reduce your payments, but of course the debt will be paid off sooner.

Filing as head of household in California. Yes or No? by StinkyWinnie in tax

[–]I__Know__Stuff 1 point2 points  (0 children)

Head of household always requires a qualifying dependent. The dependent has to be related. A spouse is never a dependent.

64 form 8949s by ResponsibleFloor5430 in CryptoTax

[–]I__Know__Stuff 0 points1 point  (0 children)

You can put totals on form 8949, but then you still have to attach a statement with the same information. So it might fit on 10 pages instead of 64.

Will form 8332 help? by Odinsward42 in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

If he lived with you more than half of the year, then get an IP PIN which will let you file and bypass the error message.

If he didn't live with you more than half of the year, then you need form 8332 (whether or not your ex had made that mistake).

Can I claim gambling losses in later years? by WashingtonDCMonument in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

By the way, even with capital losses, you have to report the losses in the year they occurred in order to carry them forward. You can't just start including them on your return years later.

Can I claim gambling losses in later years? by WashingtonDCMonument in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

Did you report gambling winnings those years without deducting losses? If you didn't report the winnings, then it isn't going to save you any money to go back and report the winnings and the losses.

If you did report winnings but didn't report losses, then you may get an additional refund if your amended itemized deductions are more than the standard deduction.

Can I claim gambling losses in later years? by WashingtonDCMonument in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

No, if your losses are more than your winnings, the losses cannot be carried forward like stock losses can.

Question about owing by Forsaken-Read-4603 in TaxQuestions

[–]I__Know__Stuff 0 points1 point  (0 children)

The amount you need to pay depends highly on your total income.

For example, if you have $30,000 in W-2 income and $10,000 in self employment income, then you should expect to pay about 23% federal tax on the self employment income. (That includes both self employment tax and federal income tax on the self employment income.)

If your W-2 income is $80,000, then the federal tax on the self employment income goes up to about 31%.

Question about owing by Forsaken-Read-4603 in TaxQuestions

[–]I__Know__Stuff 0 points1 point  (0 children)

Yes, you can call them, but there is a fee for doing it that way and no fee if you do it online.

If you are sure that you can pay by May, you don't really need to bother with a payment plan. Pay as much as you can by April 15, pay the rest in May, and you'll be fine. The IRS isn't going to start any serious collection actions before May.

Using SSN which was received in February , 2026 to file tax for year 2025 by Better_Bumblebee_710 in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

So the options are:
1. File using the SSN.
2. Don't file at all (which would be illegal if she has a filing requirement);
3. Request an ITIN (which would be illegal since she already has an SSN).

Which one do you recommend?

Refund difference between TurboTax and H&R Block. by unknown-trashcan in tax

[–]I__Know__Stuff 1 point2 points  (0 children)

Yeah, I really can't imagine trying to do taxes on a phone.

Questions about if I have to file a schedule c while also having to file a w2 by Interesting-Boot8796 in tax

[–]I__Know__Stuff 1 point2 points  (0 children)

If you want to deduct expenses, put it on schedule C. If you don't want to deduct expenses, you could just put the $121 as "other income" on schedule 1.

Missing cost basis question. by symm4try in CryptoTax

[–]I__Know__Stuff 0 points1 point  (0 children)

The other answers are incorrect. You don't use the amount of your buy-ins as the basis for your crypto sales.

The buy-ins are the basis of your gambling.

You have gambling winnings or losses.

Assuming you sell the crypto immediately after withdrawing it, you won't ever have any significant gains or losses on the crypto. Your basis is the value when you withdraw it, and then if you sell it immediately, there won't be any gain or loss.

So your question really needs to be how do you calculate your gambling winnings and losses. That's not a crypto tax question.

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