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Free 2017 Tax Software Suggestions

Posted: Sun Apr 15, 2018 1:45 pm
by kamogawa
I am trying to fill out a 1040 and supporting schedules( C-EZ "net profit/loss from a sole proprietor" and SE "self employment tax" for $830 gross income I had from a dog walking business in 2017 so I can contribute to a Roth IRA. I have been claimed on my parents' return and am 24 years old.
I have tried one program but since it seems my return is not classified as "simple" I have been prompted to purchase a upgrade package. Does anyone know of a program that will allow me access and fill out all of the forms I need without having to pay?

Thank you,

Micah

Re: Free 2017 Tax Software Suggestions

Posted: Sun Apr 15, 2018 2:32 pm
by patrick
I used Taxhawk (another name for Freetaxusa) the last two years with seemingly good results. It will do federal returns for free for everyone, though they charge for state returns.

Re: Free 2017 Tax Software Suggestions

Posted: Sun Apr 15, 2018 2:55 pm
by d0gerz
kamogawa wrote:
Sun Apr 15, 2018 1:45 pm
I am trying to fill out a 1040 and supporting schedules( C-EZ "net profit/loss from a sole proprietor" and SE "self employment tax" for $830 gross income I had from a dog walking business in 2017 so I can contribute to a Roth IRA. I have been claimed on my parents' return and am 24 years old.
I have tried one program but since it seems my return is not classified as "simple" I have been prompted to purchase a upgrade package. Does anyone know of a program that will allow me access and fill out all of the forms I need without having to pay?

Thank you,

Micah
If you know what you're doing, what forms to fill and how, you can use https://www.freefilefillableforms.com/
Otherwise TurboTax Online edition will let you start for free, you don't have to pay until you file at the end. You can try and match TurboTax on your own at Free Fillable Forms and if it works you out you can effectively file for free.

Re: Free 2017 Tax Software Suggestions

Posted: Sun Apr 15, 2018 3:13 pm
by kamogawa
Thanks for the replies.

I have downloaded all three forms from the IRS website(same as freefilefillable forms) and have input my numbers but wanted to have a independent check to make sure I didn't misinterpret a particular instruction resulting in a incorrect entry that leads to a incorrect submission with under/over payment of tax with resulting interest charged or non-refund of over payment and just as importantly funding the Roth IRA incorrectly.

I would lose any benefit of funding the Roth IRA.or at least would do so for some time to come,if I paid an accountant to do this given the small amount I have to report and resulting allowable contribution to fund the IRA.

Micah

Re: Free 2017 Tax Software Suggestions

Posted: Sun Apr 15, 2018 3:49 pm
by d0gerz
kamogawa wrote:
Sun Apr 15, 2018 3:13 pm
Thanks for the replies.

I have downloaded all three forms from the IRS website(same as freefilefillable forms) and have input my numbers but wanted to have a independent check to make sure I didn't misinterpret a particular instruction resulting in a incorrect entry that leads to a incorrect submission with under/over payment of tax with resulting interest charged or non-refund of over payment and just as importantly funding the Roth IRA incorrectly.

I would lose any benefit of funding the Roth IRA.or at least would do so for some time to come,if I paid an accountant to do this given the small amount I have to report and resulting allowable contribution to fund the IRA.

Micah
I would try TurboTax Online. It'll walk you through everything, just answer questions relevant to your situation. It will tell you things like whether you are eligible to fund a Roth IRA or not. If at the end you can match the refund/tax owed to your own calculations you'll know you input things correctly on your end.

If you want to be able to see the actual forms being filled in as you go, you'll have to buy the TurboTax CD/download edition. TurboTax Online will let you preview your 1040 but not the other forms/schedules. However the online edition still has a useful tax summary tool, which will break down for you how exactly the tax owed/refund was calculated.

Re: Free 2017 Tax Software Suggestions

Posted: Sun Apr 15, 2018 3:49 pm
by FiveK
kamogawa wrote:
Sun Apr 15, 2018 1:45 pm
I am trying to fill out a 1040 and supporting schedules( C-EZ "net profit/loss from a sole proprietor" and SE "self employment tax" for $830 gross income I had from a dog walking business in 2017 so I can contribute to a Roth IRA. I have been claimed on my parents' return and am 24 years old.
I have tried one program but since it seems my return is not classified as "simple" I have been prompted to purchase a upgrade package. Does anyone know of a program that will allow me access and fill out all of the forms I need without having to pay?
Is that your only income for 2017? Is the $830 also the net income (in other words, are there any deductible expenses for the business)?

Re: Free 2017 Tax Software Suggestions

Posted: Sun Apr 15, 2018 3:52 pm
by Pajamas
Schedule C for a sole proprietorship shouldn't disqualify you from using Free File options.

https://www.irs.gov/filing/free-file-do ... s-for-free

Re: Free 2017 Tax Software Suggestions

Posted: Sun Apr 15, 2018 4:10 pm
by kamogawa
The $830.00 is net wages. I have no expenses to deduct. It only changes(is reduced) when I input it on schedule C-EZ line 3 and multiply it by .9250 as instructed on line 4. The result,$767,is then subtracted from the $830 resulting in my self-employment tax. I am then instructed to multiply this amount by .50 and enter the result($59) on line 6 of the form as well as on line 27 of form 1040.

Re: Free 2017 Tax Software Suggestions

Posted: Sun Apr 15, 2018 4:24 pm
by FiveK
kamogawa wrote:
Sun Apr 15, 2018 4:10 pm
The result,$767,is then subtracted from the $830 resulting in my self-employment tax.
The rest of what you wrote seems ok, but not this line.

For the situation you describe, the SE tax is $117. Do you know where that goes on Form 1040, and where to send the check (and to whom it should be made payable) and the return?

Re: Free 2017 Tax Software Suggestions

Posted: Sun Apr 15, 2018 4:42 pm
by MJS
patrick wrote:
Sun Apr 15, 2018 2:32 pm
... Taxhawk (another name for Freetaxusa) .
+1 Freetaxusa / Taxhawk

Re: Free 2017 Tax Software Suggestions

Posted: Sun Apr 15, 2018 4:49 pm
by kamogawa
Line 6, Deduction for one-half of self-employment tax, on Schedule SE says to multiply line 5( which is the self employment tax of $117 in my case and which is entered on Form 1040 line 57) by .50 and enter the result ($59) on line 6 of Schedule SE and on Form 1040 line 27. Unless of course I am misunderstanding or reading incorrectly which can very well be the case.

Re: Free 2017 Tax Software Suggestions

Posted: Sun Apr 15, 2018 4:59 pm
by FiveK
kamogawa wrote:
Sun Apr 15, 2018 4:49 pm
Line 6, Deduction for one-half of self-employment tax, on Schedule SE says to multiply line 5( which is the self employment tax of $117 in my case and which is entered on Form 1040 line 57) by .50 and enter the result ($59) on line 6 of Schedule SE and on Form 1040 line 27.
That all looks correct.

Re: Free 2017 Tax Software Suggestions

Posted: Sun Apr 15, 2018 5:29 pm
by BL
If you don't get it figured out today, you can file an extension with a form available on IRS website. Then you won't have to feel rushed for April 17 deadline. If you owe money, they want you to send that in on time.