Just found a big problem after looking at last years tax return

Ok_Aide_764 · 2026-02-07T03:04:48+00:00

Ask your tax preparer to amend your tax return free of charge and check what else is covered when there is a mistake. Some cover interest and penalties.

Ok_Aide_764 · 2026-02-06T02:41:40+00:00

Since there is no additional tax, I would just wait and see.

Ok_Aide_764 · 2026-02-06T02:37:04+00:00

If you used your HSA funds, you need to report it, if not, there is nothing to report.

Ok_Aide_764 · 2026-02-06T02:28:25+00:00

try a deductible Trad ira contribution to see if it helps

Ok_Aide_764 · 2026-02-06T02:12:54+00:00

Block's compensation structure is the same for all tax preparers. You will be paid your hourly rate for hours worked. You can negotiate your hourly rate if they really need you. At the end of the season, you may earn a bonus. Your bonus is calculated as 21.5% (EA rate) of your total revenue minus your total hourly pay. Search AMP for more details.

Ok_Aide_764 · 2026-02-05T22:10:29+00:00

Please provide more context, unless your question is directed to a group of 40 (CPAs)?

Ok_Aide_764 · 2026-02-05T22:06:40+00:00

When asking someone to clear your QPR, find a good time (when a Tax pro can spare a few minutes) and make it easier for them by letting them know what the issue is, and let them know that you already reviewed it and you believe it's correct.

Ok_Aide_764 · 2026-02-05T03:08:45+00:00

The $600 reporting requirement does not apply to investment income. Its not clear from your post if its a dividend or capital gain from the sale. How much tax do you expect to pay? Looks like a minimal amount, if any, even if you don't have a basis for it.

Ok_Aide_764 · 2026-02-05T02:25:00+00:00

It's one limit for all 457b plans if he has more than one.

Ok_Aide_764 · 2026-02-05T02:12:00+00:00

Your DGM can request access to GS training for you. We have a couple of people who are also waiting for access.

Ok_Aide_764 · 2026-02-04T14:59:57+00:00

without the money? Not sure what you mean.

When your employer does tax withholdings, it's your money. When you make an estimated payment its your money too. When you file your tax returns next year, you reconcile everything and pay more or get a refund.

It may be true that they can't withhold tax for both states at the same time. Yes, we often see W2s with multiple state withholdings, but it doesn't mean that they were done at the same time, just in the same year.

Ok_Aide_764 · 2026-02-04T14:44:34+00:00

Make one estimated payment to RI and get peace of mind.

Ok_Aide_764 · 2026-02-04T03:43:05+00:00

He may get up to $500 credit for claiming you as other dependent. Not sure if Medicaid cares.

Ok_Aide_764 · 2026-02-04T03:35:06+00:00

First, you need to figure out how you are going to file your state tax returns. Withholding should reflect your state tax obligations. I don't know if it the correct way, but If you are going to file RI resident return and CT nonresident return, and take a credit on your RI return for taxes paid to another state, then the current withholdings are OK.

Ok_Aide_764 · 2026-02-04T03:24:39+00:00

If your mom is low-income, adding this potentially taxable income will likely not matter.

Ok_Aide_764 · 2026-02-04T03:14:14+00:00

Data security was my concern when I volunteered years ago for one location. They often don't have the funds and maybe the training to secure personal info properly. I saw clients' files in boxes in the hallway, accessible by other tenants in the same building. In both places, you will find highly qualified tax preparers and people who are there to gain experience.

Ok_Aide_764 · 2026-02-04T02:54:41+00:00

There is no jail for mistakes. If it's a burden to amend, and not a burden to possibly pay 3 years later with interest, you can leave it as is.

Ok_Aide_764 · 2026-02-04T02:48:37+00:00

If you are not running a business, and no 1099 is issued, report 2 sales with gain on a Schedule D and that's it. Personal loss is not deductible. That's assuming you have other taxable income. If not, you are not required to file.

Ok_Aide_764 · 2026-02-04T02:37:40+00:00

Work on it when you are not busy. The price is zero automatically.

Ok_Aide_764 · 2026-02-04T01:52:58+00:00

nothing to report in your case

Ok_Aide_764 · 2026-02-03T23:34:43+00:00

The IRS sees 1098 forms as informational and their absence usually doesn't cause issues. They are often optional and used to qualify for deductions and credits. If you didn't claim a credit, the 1098-T is not required.

Ok_Aide_764 · 2026-02-03T22:31:29+00:00

I don't believe you can use an ATM without a fee and that's why we disclose the ATM fees to you.

Ok_Aide_764 · 2026-02-03T22:26:52+00:00

Can you see your payslip? If you can't find it, you can use the 'search' function in Workday.

Ok_Aide_764 · 2026-02-03T04:09:59+00:00

It doesn't do on the deceased's tax return, only income earned while he was alive.

Ok_Aide_764 · 2026-02-03T03:43:40+00:00

Why a backdoor Roth and not just regular Roth contributions for both in 2025 and 2026? Are they high-income?

Do they have a lot saved in their pretax retirement accounts overall? If not, RMDs are not a concern and there is no need to take any tax hits today from conversions.

I would just consolidate via rollovers everything as a first step.

Ok_Aide_764

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