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Tax help?

Discussion in 'Archived Threads 2001-2004' started by JohnE, Feb 9, 2003.

  1. JohnE

    JohnE Supporting Actor

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    OK, I'm sitting here trying to do my taxes, and figure out if I can get any of the money I spent on tuition for college last year back. As a part time student I' spent about $2ooo on tuition last year and would love to get at least a small amount of that back. Any of you guys know anything about 2002 tax laws, or a good website that offers helkp? Thanks.

    PS, I honestly go brain dead when I start reading the tax jargon, so if anyone has advice, could you please keep it to laymen terms. :b
     
  2. LDfan

    LDfan Supporting Actor

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    John,

    I'd suggest picking up a copy of TurboTax or Taxcut. It'll do all the work for you [​IMG]


    Jeff
     
  3. DonRoeber

    DonRoeber Screenwriter

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    John,
    I agree with Jeff. Turbotax will help you figure this out. Also, you can dedcut the cost of the software on next years return [​IMG]
     
  4. MikeAlletto

    MikeAlletto Cinematographer

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    Sign up and do turbotax online. It'll ask you all the questions then just follow along on a normal tax form. When you get to the end it'll tell you if you owe or get a refund. Then just quit. You only have to pay if you file through them. I did it this way as a double check of my hand done one and it was the same results.
     
  5. Christ Reynolds

    Christ Reynolds Producer

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    CJ
    if i picked up turbotax or taxcut, would i have to get an update for next years return? or get an entirely new edition? if i could use it for more than one year, then i think i would grab it. i have about as simple a tax return as you can get. how easy are they to use? i'm an engineering student, so i'm not exactly stupid, but i dont know a great deal about taxation, only the basics. and which product would people recommend? thanks

    CJ
     
  6. KyleS

    KyleS Screenwriter

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  7. Mark Zimmer

    Mark Zimmer Producer

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    But it's only deductible to the extent that you qualify for the miscellaneous deduction floor (which is 2% of your adjusted gross income--fat chance for most people), and even then only if you itemize. But if you're not in a position to itemize, chances are good you really don't need software at all.

    I believe that as of 2002 tuition of up to $3000 can be deducted, provided you aren't claimable as a dependent by someone else. There are also deductions for student loan interest that you may qualify for. Check the instructions to see whether you qualify for either of these.

    The foregoing is not legal advice and does not represent the official positions of any taxing authorities.
     
  8. Christ Reynolds

    Christ Reynolds Producer

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    when you purchase a copy of turbotax, is it possible to do multiple returns (with the state version as well)? i would be using the software to do my return, as well as my brothers, so its not like i am doing all my friends or anything, just us 2. if not, we will prob just do turbotax online, it seems pretty easy.

    CJ
     
  9. DonRoeber

    DonRoeber Screenwriter

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    At least for the Mac, I've used my copy of TurboTax to do my return, as well as my fiancees.
     
  10. Mark Zimmer

    Mark Zimmer Producer

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    You can do multiple returns with a single turbotax program; you just can only use it on one computer, because it contacts the Mothership and downloads an authorization code so they know where that program landed, for proper surveillance and espionage purposes.

    Oops, am I paranoid? [​IMG]
     
  11. Ron Biles

    Ron Biles Extra

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    John,

    Look at IRS Form 8863 (Education Credits) and its instructions on www.irs.gov

    That should answer your questions.

    I second the TurboTax and Tax Cut recommendation. I personally use Tax Cut, as it's cheaper for the standard version and doesn't require activation like TurboTax.
     

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