Help !!

[troubled miss]

I have always done my own taxes but during 2009 their were alot of changes. I sold an car , i donated cash to non profit and also donated clothing and other things. Also i had alot of medical expenses and dental also too. Plus I have FSA expesnse too. Should i use an program to assist me or should i let some one do it for me. ANY and ALL help is wonder.

[CW&M Mom]

I have found I get way more money back by using turbo tax or taxcut. I don't think any of your things are going to be complicated enough that you would need someone to do it.

Also...selling your car. not sure how that would effect your taxes.

[manders13]

Originally Posted by cori n wes mom I have found I get way more money back by using turbo tax or taxcut. I don't think any of your things are going to be complicated enough that you would need someone to do it. Also...selling your car. not sure how that would effect your taxes.

it's considered an income i believe



I suggest using a program,
i tried to do my taxes 2 years ago and screwed up soooo bad that i owed close to 5k. (still have NO idea how i screwed up that bad)

To save ur butt from huge errors like me, i suggest a program. They run i think $40-$50?

[CW&M Mom]

Well I guess we run our cars to the ground LOL and just give them away...there junk by then. Interesting.

look for deals from staples, office max, office depot in the next few weeks of ads. They often will give rebates or give you other free programing to purchase it.

[hotcouponmama]

Selling a car is not considered income.

You can't claim the donations unless you itemize.

Medical expenses need to be higher than 7.5% of your adjusted gross income. So if your adjusted gross income is $100,000, you need to have more than $7500 in medical to take the deduction.

For your FSA, that comes out pre-tax. The only thing you need to worry about with that is:

- there will be a box on your w2 with the amount - you'll need to enter that into turbotax when you enter the w2 info. There's no other place for it on your taxes.
- be sure you use the FSA before March 31st - receipts need to be dated before 12/31.

Hope that helps!

[manders13]

You don't have to pay tax on a car you sell???

[CW&M Mom]

If she made a profit Do I pay income tax on personal used car sale proceeds? - Yahoo! Answers

bought for $4000 sold for $5000

[manders13]

Ohhhhhhhhhhhhhhh! Wow, well learn something new every day. I sold a car 2 yrs ago and put it down as "income" aye. and this is why i shouldn't do my own taxes!!

[CW&M Mom]

Same year you ended up owing? Maybe you can refile or whatever it's called.

[hotcouponmama]

3 years to amend a return, so if it's not more than that time frame, it's free to amend - especially if they owe you money! I just learned that I can write my MBA off - a woman just fought the IRS on it and won this month. That would mean going back and redoing my taxes - it might be worth it. It would be more than the tuition deduction for it - it would be the entire amount as a employment-related educational expense. That's a $22K write off over two years of my taxes. Could be huge!