Hello
Guest

Sponsored Links


Topic: TurboTax fun - a few queries please  (Read 1290 times)

0 Members and 1 Guest are viewing this topic.

  • *
  • Posts: 214

  • Liked: 18
  • Joined: Nov 2017
TurboTax fun - a few queries please
« on: February 23, 2021, 10:42:13 AM »
Hi everyone,

It's my least favorite thing to do, however I have yet to receive the first stimulus check round, so I just want to make sure I get this tax return right! It's my second time filing (filed last year for the first time) but I have some questions please if anyone is able to help:

- On the "My Info" tab, I'm just checking that everything is correct before I go into the detailed questions about tax year 2020. One of the questions is "Tell us where you lived." When I loaded the page, South Carolina (the state in which I file, but haven't lived in since 2018) was pre-loaded in the drop-down menu. There's an option for "Foreign or US possession," so I don't know which to pick... What has everyone else selected? I live in the UK and make UK income - not US income.

I'll stop here for now because I don't want to be inputting incorrect info. No doubt I'll have further questions as I go, though!

Thank you.
« Last Edit: February 23, 2021, 10:47:55 AM by mrsstealyotaco »


  • *
  • Posts: 214

  • Liked: 18
  • Joined: Nov 2017
Re: TurboTax fun - a few queries please
« Reply #1 on: February 23, 2021, 11:31:28 AM »

hopefully this helps provide some context around my question.


Sent from my iPhone using Tapatalk


  • *
  • Posts: 4133

  • Liked: 750
  • Joined: Nov 2012
  • Location: Eee, bah gum.
Re: TurboTax fun - a few queries please
« Reply #2 on: February 23, 2021, 11:49:53 AM »
I always select "foreign or US possession" and the address fields that open up actually then support a different country and also accept UK postcodes etc.
Dual USC/UKC living in the UK since May 2016


  • *
  • Posts: 214

  • Liked: 18
  • Joined: Nov 2017
Re: TurboTax fun - a few queries please
« Reply #3 on: February 23, 2021, 11:53:42 AM »
I always select "foreign or US possession" and the address fields that open up actually then support a different country and also accept UK postcodes etc.

Thanks Durhamlad. I'll do that! Watch this space for more questions... thanks for helping!


  • *
  • Posts: 214

  • Liked: 18
  • Joined: Nov 2017
Re: TurboTax fun - a few queries please
« Reply #4 on: February 23, 2021, 12:01:05 PM »
Anyone else have to complete form 1099-OID, Foreign Accounts?
Husband and I have a joint UK bank account. I don't recall having to do this form last year, although I've had my UK bank account since 2018!
I also have a US bank account, but don't think I'm at the section yet of where I can list the details of that.

Another question, please: For income, is it my UK gross salary (before taxes) or my net salary (after taxes and superannuation)? I can't remember what I did for last year's!

Also, (maybe most importantly, lol) does providing all of this info on my foreign account, foreign address, etc. affect my chances of receiving the stimulus check? Thank you.


  • *
  • Posts: 4133

  • Liked: 750
  • Joined: Nov 2012
  • Location: Eee, bah gum.
Re: TurboTax fun - a few queries please
« Reply #5 on: February 23, 2021, 01:24:01 PM »
Anyone else have to complete form 1099-OID, Foreign Accounts?
Husband and I have a joint UK bank account. I don't recall having to do this form last year, although I've had my UK bank account since 2018!
I also have a US bank account, but don't think I'm at the section yet of where I can list the details of that.

Another question, please: For income, is it my UK gross salary (before taxes) or my net salary (after taxes and superannuation)? I can't remember what I did for last year's!

Also, (maybe most importantly, lol) does providing all of this info on my foreign account, foreign address, etc. affect my chances of receiving the stimulus check? Thank you.

I’ve never had to file a 1099-OID. I report interest on my UK accounts directly into Schedule-B along with my US interest.

Gross salary for sure.

No effect on stimulus checks having a foreign address. If you pay your taxes or receive funds through your US bank then the stimulus payment goes directly into that account. At least that is how it works with my son, who lives in England.
Dual USC/UKC living in the UK since May 2016


  • *
  • Posts: 214

  • Liked: 18
  • Joined: Nov 2017
Re: TurboTax fun - a few queries please
« Reply #6 on: February 23, 2021, 06:39:46 PM »
Thanks Durham Lad - I actually spotted my fatal error. I clicked that I have a financial asset which is not correct in my circumstances.

Nearly done - just need to add in detail on my student loan interest paid for tax year 2020. Phew! Much easier second time around.

Good news also is that it says I’m eligible for the $1,800 recovery rebate credit. Big sigh of relief.

Can I just check - in addition to the overall tax return, does anyone mail in their payslips as evidence of reported income? Just trying to think of all options that would help IRS process my $1800 refund quicker / prevent any issues.

Thanks folks!


Sent from my iPhone using Tapatalk


  • *
  • Posts: 4133

  • Liked: 750
  • Joined: Nov 2012
  • Location: Eee, bah gum.
Re: TurboTax fun - a few queries please
« Reply #7 on: February 23, 2021, 06:46:36 PM »
Thanks Durham Lad - I actually spotted my fatal error. I clicked that I have a financial asset which is not correct in my circumstances.

Nearly done - just need to add in detail on my student loan interest paid for tax year 2020. Phew! Much easier second time around.

Good news also is that it says I’m eligible for the $1,800 recovery rebate credit. Big sigh of relief.

Can I just check - in addition to the overall tax return, does anyone mail in their payslips as evidence of reported income? Just trying to think of all options that would help IRS process my $1800 refund quicker / prevent any issues.

Thanks folks!


Sent from my iPhone using Tapatalk

Just e-file and hang onto any pay stubs, P60s etc for proof if you happen to be asked for them by the IRS.
Dual USC/UKC living in the UK since May 2016


  • *
  • Posts: 214

  • Liked: 18
  • Joined: Nov 2017
Re: TurboTax fun - a few queries please
« Reply #8 on: February 23, 2021, 10:14:10 PM »
Thanks Durhamlad, will do.

Sorry, but I have a couple other questions please if that’s okay...

- efile: I’m using turbotax - I still have to mail in the federal paper return to IRS and my SC paper return to the state tax processing center, right?

- also, I never received any acknowledgment from IRS that they’ve received my 2019 return. I sent it via Royal Mail in June 2020. I’ve called them twice, each time offered no peace of mind that my return had made it physically to the respective processing centres... when I go to the “Get my payment” tool on the IRS website, it says “payment status not available,” which could mean my 2019 return has not yet been processed.

Should I also include my 2019 return in the same envelopes/packages as my 2020 returns as a “just in case,” or could this cause more issues than what it’s worth?

Thank you so much!


Sent from my iPhone using Tapatalk


  • *
  • Posts: 4133

  • Liked: 750
  • Joined: Nov 2012
  • Location: Eee, bah gum.
Re: TurboTax fun - a few queries please
« Reply #9 on: February 23, 2021, 10:29:50 PM »
Thanks Durhamlad, will do.

Sorry, but I have a couple other questions please if that’s okay...

- efile: I’m using turbotax - I still have to mail in the federal paper return to IRS and my SC paper return to the state tax processing center, right?

- also, I never received any acknowledgment from IRS that they’ve received my 2019 return. I sent it via Royal Mail in June 2020. I’ve called them twice, each time offered no peace of mind that my return had made it physically to the respective processing centres... when I go to the “Get my payment” tool on the IRS website, it says “payment status not available,” which could mean my 2019 return has not yet been processed.

Should I also include my 2019 return in the same envelopes/packages as my 2020 returns as a “just in case,” or could this cause more issues than what it’s worth?

Thank you so much!


Sent from my iPhone using Tapatalk

When I’ve e-filed my returns with TT I have not sent in any paper returns. I also e-filed my Louisiana returns each year.

I’m sorry to hear that you have not heard back from the IRS on your mailed in paper return from 2019. Don’t know what to say  except to send them again with an explanation as to why you are sending them again plus a copy of the receipt from the Post Office proving that you mailed them on time. When I have sent tracked mail to the US through the post office then I am able to pick up the tracking through the USPS and sign up for email updates. It usually takes up to 48 hours to get to New York then another 4 weeks bouncing around sorting offices until it arrives.
Dual USC/UKC living in the UK since May 2016


Sponsored Links





 

coloured_drab