FuzzyGrand

Best to get it done as early as possible to reduce the chance of identity theft.

http://www.usatoday.com/story/money/...efund/4500275/

JAJ

It's very easy to over-complicate the form 8938 and FBAR. It is not routine for the IRS to cross check these forms against other data unless as part of an investigation for tax evasion. An estate tax return will never match exactly to form 8938 since they represent different dates.

theOAP

For 8938, an estate will never match anyway since the taxpayer must declare far more assets on 8938 than the banks, etc. have to report to the IRS as part of FATCA, and other assets are not included on the 8938. Sorry, it was just me stirring the pot. I'll use the [/satire] next time.

If you do happen to be aware of the instructions, you might as well follow them.

Hotscot

The IRS has anew service for downloading your previous tax returns.
http://www.irs.gov/Individuals/Get-Transcript

However I got a bit worried when it wouldn't let me register as it said my info didn't match what they had on file. After hearing from others I feel this is an error.
Some of you may like to look at it.

kevntrace

Have used TurboTax for many years, but prefer going to a professional this year;

- sold a number of stock options due to company acquisition
- received inheritance from mother's estate

Normally I overpay my taxes and get a big fat refund, which covers my annual property tax. I know overpaying is not advised, but making sure I have guaranteed coverage of my tax allows me to sleep peacefully, and that is priceless.

However due to the stock options and inheritance, last years taxes are significantly more complicated. And no more big fat refund this year.

Bink

Mine are all done and waiting to be filed.

durham_lad

I'm still waiting on a couple of forms before doing my taxes with TT, but I have filed FBAR online this year.

Speedwell

Hotscot, it's the same mechanism they use to determine your identity as what the credit unions use when you try to obtain your free credit reports online. The credit union system appears to believe I had a bankruptcy even though I have never filed one and one does not actually show on my record when it is generated. There are mistakes. I was fortunate enough to be able to answer the Get Transcript questions satisfactorily, though I expected to be turned away.

Bob

We've just received the student loans info for the missus so will try and get this done soon.

Local library doesn't have Federal 1040's, but it does have all the rest of them it seems, including state and some of the instructional booklets. Will be printing the forms from the IRS site I guess this year.

kodokan

Having just had a total fantasy estimate from the Big Four firm that did ours last year (as part of our relocation) for around $3k, I've decided to have a go at this myself for 2013 with Turbotax. I'm pulling together docs and just waiting for the W-2 and some 1099s, which should be here by mid-Feb.

The tax return will cover:
- one regular salary
- bank account interest
- a small dividend payment received on an index tracker I bought
- buying a house and deducting property taxes/ mortgage
- a RSU vesting in March and selling the stocks in May
- exercising some NQ stock options
- foreign-wise, we're in for FBAR but not 8938 this year, having spent all the money on a house

That shouldn't be too hard, should it... <small hopeful voice tails off> I'm pretty sure I understand what Turbotax is likely to ask me (it'll be the Premier version, with the stock stuff). All the relevant tax was withheld, so it's just the reporting of it to get straight; I'm not expecting a whacking bill.

NatashaB

I have been studying so I'm hoping to claim a credit for that. I downloaded my 1098T showing the 2013 fees I paid from the college website. I haven't yet started making payments on my loan, do I need to enter/retrieve any info related to that? I assume next year when I start making payments, the interest paid is deductible.

robin1234

When I had a job, I didn't mind printing forms and instructions etc. since I did it at work. Now I'm retired, I had to buy a printer, ink cartridges etc., I try to minimize what I print at home. (I went in to work a week or two after retiring, to confirm I still had all my privileges, network access etc. which I'm entitled to as emeritus. I do. Just one thing was different. They took away my printing privileges. BASTARDS.)

One decent thing about the IRS, they will mail forms and instructions to you. I put in an order for everything I thought I'd need, they mailed some and back ordered the rest ..

zargof

Question regarding student loan interest. I have a student loan with HSBC back in Blighty for study in the US. Obviously I don't have a 1098-E for this. Is there any way I can actually claim this? Anyone done this before?

Bob

We've not been able to, though with a different bank and studying in the US.

zargof

Reading this suggests you should be able to providing it was for legit expenses, but there is no clear guidance on how you'd go about it.

ETA: Reading a bit more, it seems if you can get some documentation stating how much interest you paid over the year (and converting that to dollars) you'll be good to go.