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Recent State Income Tax questions

I am a part year resident of AZ and MT. On Schedule A, item

I am a part year resident of AZ and MT. On Schedule A, item 5, Option a is for state income taxes paid. I paid some to MT. Option b is for sales taxes. I paid no income taxes to AZ so could use the tables to determine the allowable amount of sales taxes and apportion it for the months lived in AZ, my current residence. My question is will I trigger concern or an audit or a denial of one or both of the amounts claimed if I check both boxes and enter the appropriate amounts for each. Thank you, ***** *****.JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: I don't believe I have any questionable items. My wife and I are retired and only have retirement income. Property taxes will be high as I paid in 2 states and interest is high becuse of points paid for the mortgage.l expenses

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Lev

Retired

Bachelor's Degree Equivalent

24,362 satisfied customers
I think that my question is pretty simple. So far in 2017,

Hello - I think that my question is pretty simple. So far in 2017, my gross earnings are about $49,000 and about $39,000 came from severance, retention bonus, 2016 bonus, 2017 bonus, vacation and PTO pay out - my job was eliminated on January 27th. I've paid about $15,000 in Federal Taxes and $3,000 in State Taxes and about $600 went into my 401(k). I just started a new job with an annual salary of $58,000. I've always rented and have processed my own taxes since they're not complicated. The $39,000 in severance, retention bonus, 2016 & 2017 bonus, vacation and PTO payout were taxed at 40%. If I were to continue to claim '1' on my W4 for the remainder of 2017, can you tell me what I could expect as far as a tax refund in 2018?

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Lev

Retired

Bachelor's Degree Equivalent

24,362 satisfied customers
I got divorced this last year and my ex husband and I

I got divorced this last year and my ex husband and I jointly own a rental property because we could not sell it. When I file my taxes, should I file for half of the income and half of the expenses of the house? What happens if he doesn't file for his half?JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: Last year we filed jointly. This year we are not. Do I only need to claim half of our state return from last year?

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,888 satisfied customers
I am moving to Asbury Park New Jersey on a e3 visa, wanted

Hi I am moving to Asbury Park New Jersey on a e3 visa, wanted to find out how much tax will be withheld from my salary, which I am still negotiating. Is 20% a good estimation to cover all state and federal taxes?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: I think that covers it.

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Robin D.

Vocational, Technical or Trade School

23,252 satisfied customers
On my income tax return, can I deduct property taxes for a

Hi, On my income tax return, can I deduct property taxes for a second home, out-of-state? If yes, can I claim it only on my federal income tax return, or also on my state income tax return?

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

5,202 satisfied customers
After I filed my taxes, I received a 1099-R in the mail for

Hi,After I filed my taxes, I received a 1099-R in the mail for a 401(k) distribution that I got in 2016 after I turned 59 1/2. At the time, I withdrew $40,000 from my 401(k), but I simultaneously paid $8,000 in federal income tax and $1,600 in state income tax, so I really only received $30,400. Since the tax was taken out at the time of the withdrawal, do I still need to file an amended return based on this 1099-R? And if so, will there be a change with regard to my tax refund, which I already received?Thank you in advance for your advice!

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39,078 satisfied customers
My company claime 60% of my state taxes to a state I do not

My company claime 60% of my state taxes to a state I do not live in and 40% of wages to the correct state and did not take out enough taxes, this mistake was on their end, but they are saying there is nothing I can do, I will owe a lot of money to the state I do not live in?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: no

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,888 satisfied customers
Do I need to pay for ira distribution on Georgia State

Do I need to pay for ira distribution on Georgia State Income Tax?JA: The Expert will know what to do. Please tell me everything you can so the Expert can help you best.Customer: I am 69 years old and moved from Florida to Georgia on August 2016.JA: Is there anything else the Expert should be aware of?Customer: I've sold the traditional ira about $63,000 consist of mutual fund and 12 shares of target stock.

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Barbara

Enrolled Agent, Paralegal

6,088 satisfied customers
I have a question please, On 2016 I purchased a car that I

Hi, I have a question please, On 2016 I purchased a car that I used to go to work and back, the car is neccessary Can I expense the cost of the car in my taxes. ? I financed the carJA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: I put a downpayment for the car, and paid the sales tax

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

9,888 satisfied customers
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