Tax / CPA type question...

[Richard]

I normally have done our taxes since......forever.

For many years, I was 1099 so had expenses.

I'm currently W-2 however, I have (suffer?) non-reimbursed mileage AND I have an office at home (room is about 225 sq/ft.)

What I'm wondering is does the non-reimbursed mileage (let's call it 1,000 miles/year so round number $500) and the home office possibly cover the standard deduction?

(My expectation is "no")

If accurate, can I still take the non-reimbursed miles if I don't itemize?


What I'm really trying to ascertain is, which version of Turbotax do I need to buy. I suppose I can always upgrade if I can do the above, I'm just trying to get my taxes done now on pro-forma basis. This way I'll have time during December to react to something if I've missed it.

 

[Diggin It]

You can either itemize or take the standard deduction, not both.

 

[RickB]

Unless you have a couple crap-tons of other deductible expense you will probably have to take the standard deduction.
The new tax law effectively eliminated itemizing deductions for a large slice of the population.

Unless you have investment or business income, Deluxe probably will meet your needs.

 

[Richard]

Well....crap.

Though it's what I expected to hear (and know I can always upgrade the program, therefore I've ordered the lower version)....

I'll have to investigate plan "B"!!

 

[ovrszd]

I normally have done our taxes since......forever.

For many years, I was 1099 so had expenses.

I'm currently W-2 however, I have (suffer?) non-reimbursed mileage AND I have an office at home (room is about 225 sq/ft.)

What I'm wondering is does the non-reimbursed mileage (let's call it 1,000 miles/year so round number $500) and the home office possibly cover the standard deduction?

(My expectation is "no")

If accurate, can I still take the non-reimbursed miles if I don't itemize?


What I'm really trying to ascertain is, which version of Turbotax do I need to buy. I suppose I can always upgrade if I can do the above, I'm just trying to get my taxes done now on pro-forma basis. This way I'll have time during December to react to something if I've missed it.

I've never hired my taxes done. I've never bought a tax program. I simply don't understand that.

 

[RickB]

Well....crap.

Though it's what I expected to hear (and know I can always upgrade the program, therefore I've ordered the lower version)....

I'll have to investigate plan "B"!!

I’ve never used anything more basic than Deluxe. A couple times I have had to upgrade to Premier. I have used TT for over 20 years.

 

[Richard]

Yep, Premier is the version I just ordered.

 

[RNeumann]

With a single W2 and the info given it sounds like itemizing isn’t going to benefit you. It sounds like you will be doing the standard deduction.

 

[davrow]

I've never hired my taxes done. I've never bought a tax program. I simply don't understand that.

I guess some of us fear the government more than you do. ullinghair:

 

[dougtrr2]

I've never hired my taxes done. I've never bought a tax program. I simply don't understand that.

We did our own taxes for years. But when I got out of the Air Force and settled in Iowa it changed. When you live in one state, get income from that state and work in another state it gets to be confusing and complicated. The amount I pay to have my taxes done is well worth the peace it keeps in the family.

I think there is something wrong with the tax code when two educated people can read all the instructions and still not be sure they are doing in correctly.

Doug in SW IA