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State Tax and Federal Tax Filing Question?
Do I need to file both State and Federal tax returns, if my dividend income is about 23,000 USD, a deductible for one child and not employed. What are the names of the forms that I need? I am in the state of California, and all this time I've been using H&R, and this time I have to do it myself, so please someone help me! Ty!
Hi Jeff, I am not trying to get any refund money back, but I just need to file no matter what right? So are the forms you mentioned, the ones I need to file under? Ty again
7 Answers
- towandaLv 71 decade ago
Go buy Turbo Tax. It has an interview and will ask you questions. You just follow along and input the info. The software will check for deductions missed and mistakes. Check your finished return against your return that the pros did last year to be sure everything is in there. Turbo Tax makes it really easy, you can even file electronically. If you don't understand something you can go to www.irs.gov and read the publications that go along with the forms. Don't forget to file the right form and sign it.
- tmaLv 61 decade ago
I love how noone has answered your question.
Anyway, for your federal return you can file Form 1040 and Schedule B. You may be able to file as "head of household." You should get a child tax credit of $1,000. If you want to claim childcare tax credit, you would need Form 2441. You should not owe any tax, but instead should be getting a nice refund. All federal tax forms and instructions can be found at www.irs.gov
http://www.irs.gov/pub/irs-pdf/f1040a.pdf
Similarly, for CA you can file the Form 540 or 540a.
- 1 decade ago
Yes, you need to file, your investment income is well over the the maximum amount allowed without filing and so is your total income. You will need at least a form 1040 and a schedule B for your federal return.
- jeff410Lv 71 decade ago
You need to file a 1040 and a Schedule B. You need to file state income tax too. But, I dont know what forms in California. You have to have earned income to recieve Earned Income Credit. Dividends arent earned income. If you recieve more than $2800 in dividends or interest you cant get Earned Income credit.
- ledebuhrLv 45 years ago
you do no longer would desire to record them mutually. They flow to distinctive places. for example, in California, the state taxes flow to the FTB. they have a internet site the place you may positioned up your CA state tax return for loose. yet you're able to would desire to do your federal someplace else. Sorry i've got not got suggestions approximately your state. yet once you probably did slightly examine you're waiting to locate that your state would have their very own internet site so you might record for loose merely like right here in California. reliable success.
- gingerLv 41 decade ago
Yes, you need to file to receive your Earned Income Credit. Even if you can't afford the cost of H&R, they will take it out of your tax refund.
You will receive a refund even if you haven't paid in any taxes.
It happenend to me a couple years ago and I had a $3600 surprize, you will too!!!
Source(s): Oh, don't know exactly how much but it will be nice. I am excited for you. Go now.....!! Oh my gosh, Jeff is RIGHT, it does have to be EARNED INCOME not DIVIDENDS to receive the earned income credit. I am so sorrry!!! I somehow missed that part of your question. I feel Terrible about giving you the wrong answer!!