How to Prepare Your U.S. Federal Tax Returns Online | Joe Correa | Skillshare

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How to Prepare Your U.S. Federal Tax Returns Online

teacher avatar Joe Correa, Business owner and entrepreneur

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Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

30 Lessons (1h 15m)
    • 1. Introduction

      2:34
    • 2. Why do Your Own Taxes?

      1:36
    • 3. How to Get the Biggest Refund?

      1:09
    • 4. Planning Ahead

      0:53
    • 5. Why Pay More in Taxes?

      2:33
    • 6. Writing Everything Down

      1:32
    • 7. IRS Red Flags

      4:11
    • 8. What is form 1040EZ?

      1:32
    • 9. What is form 1040X?

      1:34
    • 10. What is form 4506?

      0:51
    • 11. Getting started: Preparing your U.S. federal income taxes online

      1:51
    • 12. Personal Information

      3:45
    • 13. Dependents and requirements to be a dependent

      4:15
    • 14. Adding Dependents

      0:35
    • 15. Income in Other States and Upkeep Costs

      3:28
    • 16. Wages and Income

      4:29
    • 17. Refund or Payment Summary

      1:29
    • 18. Types of Income

      3:18
    • 19. Foreign Bank Accounts

      0:24
    • 20. Deductions, Credits, and Expenses

      4:49
    • 21. Expenses: Job Related

      4:54
    • 22. Reimbursed Expenses and Special Situations

      0:44
    • 23. Expenses: Summary

      0:15
    • 24. Tax Breaks

      1:40
    • 25. Health Insurance Coverage

      1:23
    • 26. Uncommon Tax Situations

      0:22
    • 27. Federal Return Accuracy Review and Refund or Tax Payment Due

      2:10
    • 28. Filing Tax Returns: Save and File Returns

      3:21
    • 29. 1040 Review: Determine Accuracy of Information and Where to Mail

      9:35
    • 30. Amending Your Tax Returns

      3:43
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About This Class

If you are looking to increase your tax refund, lower your tax payment, or increasing your tax payment (more on this in the course), then this is the course for you. You will learn how to quickly and safely complete your personal tax returns online in a short period of time. You can pay an accountant or an enrolled agent but even they can't guarantee that your tax return will be error free. Save yourself time and money by doing it yourself. Most software you use will have an audit review built in which will save you from having hassles with the IRS. 

Benefits:

  • You will learn how to get the maximum refund.

  • Increase the amount of expenses you can¬†deduct.

  • Get the most deductions in order¬†to lower your tax burden.

  • You will save on¬†tax preparation expenses.

What you will learn:

- How to complete tax form 1040EZ (U.S. Federal income tax return)

- How to complete tax form 1040X (Tax amendment form) in case you need to make corrections or if a tax document arrived late in the mail and you didn't include those numbers in your tax return.

- Add dependents to increase your refund.

- Add more expenses to lower your tax payments.

- Contribute to an IRA to reduce the amount of taxes you pay.

- Increase your net income by lowering your expenses will help you qualify for a new home (especially useful if you're self-employed).

- How incorporating can greatly reduce your tax burden by allowing you to deduct more expenses.

Why I do my own taxes

If you are like me, you don't want to waste your time explaining your financial situation to a stranger only to have them keep calling you back asking questions they should already know. There are too many people that are just learning at tax preparation franchises that don't know what their doing and will cause you problems in the future so learn to do it yourself. I have never been audited and if I am, I keep things simple enough so that I can answer any questions.

What our students are saying about the course:

Randy C.

Excellent course, exactly what I was looking for.

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Joe Correa

Business owner and entrepreneur

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Transcripts

1. Introduction: Welcome to my course. My name is Joe Korea, and today you're gonna learn how to complete your federal income tax returns online. It's actually much easier process than most people think it is. People fear having to do the taxes, but you should. If you take the time to go over the steps outlined in this course, you will learn how to safely accurately complete your tax returns in a very minimal amount of time. I complete my personal and my business tax returns every year, and I've never been on it. I used to go to CPS and accountants, and I used to have to wait for hours for them to ask me questions and have to wait for weeks for them to finish completing my taxi drivers only to charge me anywhere from 300 to $1500 for things that weren't really that complicated. I thought, you have your income, you have your expenses and those things were seven. Now, things you want to make sure you remember when you're about to prepare your income tax returns are you want to make sure you have all of your income sources there amounts any tax documents that you may have received. You want to make sure you write down all of the expenses that you have. You want to also make sure that you write down any life changes or any particular situations you've had in your life that you think are important, which will also affect how much you get in terms of a refund on how much you pay. Now. A lot of people don't understand exactly what goes into getting a higher refund, but I'll tell you something important things in this course that that really surprised a lot of people. Sometimes we're in a situation to get a better, better refund through higher deductions and expenses and credits. But sometimes they haven't taken city because they don't know their but they are, and you should take advantage of. By the end of this course, you will be able to complete your federal income tax return online. You'll know how to complete a 10 44 10 40. You know what a 10 40 X is, which is when you want to need when you need to a manager Tax returns. You also know how to obtain a 45 or six, which is a document transcript that allows you to see whatever information needed from brass past year on your tax return. If, in case you don't have it available right now, I hope you enjoy this course get started. 2. Why do Your Own Taxes?: Why do you roll intact in terms? Basically, I'll give you former reasons. It's normally fast, much faster if you can have your tax forms in all of your income. Tax information Ready Competing your federal income tax. Texas is a lot faster. Number two. It's a lot less expensive. I've paid hundreds of dollars to accountants that, in which case it wasn't worth it, and they were simply in putting information from the year before. Back onto this year, with a few minor changes from tax forms I was giving them. It was definitely not worth it online. Sometimes it'll be free. Sometimes it will be very low. Cost number three. It will be more actor because a lot of information that you input on the on the website will require that you finished that information. If there's anything that's missing, it'll get read flat. It'll appear with a little space where you have to go back and completed, or else you won't be able to finish and number four. A lot of times you get online assistance when you have questions. When you have any concerns, any documents that you can't find, you'll be ableto quickly. Enter on a search button or gone jack and you'll be with Check with Jack with a live person and ask them questions. If you're not sure about something and you feel that it's a little too much of a problem, you can always go back to other counter C p. A. But at least you gave yourself try and you'll notice it's much. 3. How to Get the Biggest Refund?: how to get the biggest tax refund. If you want to get the highest and biggest tax refund, there's a number of things you want to make sure you take into account number one. Make sure you get as many deductions. It's possible. If they're offered, apply for them and see if you qualify number to try to make sure you always get the earned income tax credit. That's a very good credit on your tax return Number three. If you are the head of your household, make sure you put yourself aside off out of the household on your textures. Number four. If you have dependence, make sure you include them on your tax returns as well. There's also when you have kids, there's a child tax credit that's helpful that you also want to make sure you use when you do your temperatures. If you are planning for your financial future to inaugurate, that's very helpful, and that will help you increase your refund as well. Number five if you're planning on getting married and having kids, if you do that the year before you be able to qualify for the following year, so make sure you plan ahead and you prepare for that too 4. Planning Ahead: planning ahead for your financial tech schools is very important. A lot of people don't plan ahead if this year you have to pay 5000 in taxes, maybe possibly for the following year. If you contribute towards your eye rape, that'll lower your tax burden. If you I incorporate and then you're able toe include more expenses. That will also help you working tax statements if you make higher donations that also hope over tax payments. If you're planning on getting a refund for the following year and you're about to get married and you decide you want to make sure you get married before the tax and tax your ends so that you qualify for the following year as being married for Texas for the following year, that could also go to reason that would benefit you and your spouse. If you're planning to have a baby, you want to make sure you plan ahead 5. Why Pay More in Taxes?: Why would you ever want to pay more in Texas? I'll tell you, first of all, then he explained what this means. Most people are either in three categories. Either you pay taxes, you don't have to pay taxes or you get a refund in these three categories. Each three has a future consequence on what you can do with other life situations. For example, if you make $100,000 you have 100,000 and expenses, you have zero income letting that net income. Which means, would mean that you paid zero in taxes, which means you either will we get a refund or possibly simply, just not have to pay any taxes. Now, even though this is a logical way of thinking, banks think differently. And when you need to purchase a home and you're trying to qualify for a home mortgage, you won't qualify if you do it. If you expense all the all of the things that you've had. If you make $100,000 you need to purchase a home and you only declare 30,000 and expenses, that will mean that you'll be able to qualify for a higher mortgage and possibly even have a better situation in terms off interest rates and lower payments. Simply because you're payments will be lower and because your taxes will hope you get get that type of loan approved. Another reason is when you're trying to get a car loan, some Carlos will require that you provide your tax returns. If the net income that you have is actually lower and it could've been higher simply because you took away too many expenses or you deducted too many expenses off your income, then that'll be a problem. Also, when you're trying to qualify for a credit card or a credit card limit increase. If you have a credit limit off 3000 you needed to be 5000 so that your credit can actually improve. And that's another different situation. On the last situation is when you're trying to qualify per for a personal loan to pay off their debts. Those personal loans. A lot of times you'll get a better rate or even a get approved for it. If your tax returns reflect ah high income or at least an income that hasn't had too many expenses office. So the net income is still remains higher. That's why you would pay your debt. You would pay more in taxes 6. Writing Everything Down: Now it's important that you write down all of your income and expenses down on a sheet of paper. Why do you want to do this? Will minimize errors, Minimize mistakes. It'll hope remind you if there's any documents that you need to include that you may have for gotten and if there's any life changes that you've had if you got married, you have kids. If you bought a home, if you're sold a home, if you got a job or if you lost your job, you want to make sure you have everything, honestly, the paper at first. Then you go onto the computer and you compete that information. Now I suggest on a sheet of paper you split it in half, cut right in the middle and on the left side of the sheet of paper. You write down all of your income sources and then next to each income source, write down exactly those amounts, the amount that each one had on the right side. I suggest you write down expenses and write down all of the expenses that you've had and write down exactly the man. The amounts of each one at the bottom at both totals up and then subtract each other. The total you get is what usually what should be your taxable income, not taking into account deductions or credits or contributions that you've made, and other things that also go into preparing tax returns. Now, when you write these things down, make sure you do that before you could put your tax returns and have it ready when you're doing your tax terms. 7. IRS Red Flags: coming. Reasons why you might get red flagged by the arrest. One. Woman days. Math Errors. If you have math errors on your tax return, you will definitely get audited. Make sure that any information that's on your W tour your 10 99 is copied or written down exactly the way it should be. When you pass that information online, you want to make sure that you double check your decimals as well, because a lot of times the numbers are rounded up. So make sure you also enter any decimal sounds that appear on your tax forms that you received through the mail. If you have a bad tax preparer, that's always a red flag, if they provided textures that are erroneous in the past or that are fraudulent, you will also be audited because of that. So make sure you complete your tax returns either with a good for we're building. Do them yourself online, which is what we're doing right now. Another reason is if you have a cash only income and there's a disparity between the type of lifestyle that you have. If you own a property that's a $1,000,000 but you only make 30,000 or you declare 30,000 in income, then that will be a red flag for the I. R s. If, for example, you have unusually high income over 200,000 people who make over 200,003 audit and more often than people who make less money. Another reason why most people get audited is when you have foreign back accounts or foreign asks. Make sure you declare that information. There's a particular place where you need to enter that information will be provided an automatically generated when you're completing your doctor turned on, and I'll show you where and home office deductions. Now this is a big a lot of people that deduct when you work at home. You want to make sure that you are very particular in terms off. The percentage of space that you use at home is reflected in terms of the percentage of expenses that you include in your tax return, so that's something you want to make sure you check out. Another very important thing is when you don't declare income that you've made. So, for example, let's say a tax return a tax form arrived late through the mail. And it's been a month since your morning completed your textures and you didn't declare an extra $5000 that you made that year. That could be something that you could be audited by the I. R. S. And for that reason you would've manager tax returns, which you will show you exactly where you need to go to do that. Another very important topic is declaring 100% of your vehicle for Pat for business reasons . So let's say, for example, you drove 10% of the time toe work and 90% of the time you were taking your kids to school or driving to the supermarket, you want to make sure they they reflect correctly or as close as possible so that you don't get audited by the IRS. Rest. If you use your vehicle for 90% business and 10% commuting, you should go ahead and include that also in your tax returns, so that you reflect the correct amount for each one, and you'll be asked exactly where to complete that, too. If you have high terrible contributions that will also be a red flag, make sure that you were able to document any forms that you've received when you made contributions to any charitable contribution. The last thing I wanted to talk about is when you make a lot of errors on your tax returns . A. When you forget to include your expenses. If there's a tax form that you didn't include, if you wrote your name wrong if you forgot to include it, sometimes your apartment number where you live, those were also important things. You want to make sure you include and prevent getting red flag by the errors. 8. What is form 1040EZ?: form 10 40. Easy is an income tax return form that you can compete when you're feeling it out. As a single or joint filer with no dependents, you would enter your name in the top. You're so secure number on the right. If you're competing it with your spouse, they would go just below and their social card numbers well, your home address. If, for example, you have a W two, you need to conclude that information here. This is where you would put your income. If you have in taxable interest that you receive from the bank or any others financial institution, you enter it. Their adjusted gross income or a G I, which is common e commonly needed to be ableto e file is completed here is entered here. This is where your earned income credit will appear. We'll go further down for a refund, you to enter your routing number and your tax, your account number on the bottom. And if it's a checking or savings account, if there's amount you owe, it will reflect online 14 on the right. Now, this is where you need to sign, and this is where your spouse would need to sign just below date your occupation in a phone number where the iris can call in case they have any questions. If you use the pre paid paid tax prepare than this is where they would enter their information. When you have any questions or any concerns, you can check the instructions on the bottom here on how to fill out this form. It'll give you an in depth description. You can also go to the IRA stock of website and get more information as well. 9. What is form 1040X?: If you need toe a manger. Tax returns for any of the past two years. You need to fill out form 10 40 x For this form. The year you want to make sure you include would be on this box you'd enter your first name , your last name. So security number. Same thing for your spouse. You don't to your address Right below that, you want to make sure that you enter if you're the head of household. If you're single, you're married. Whatever your marital status is needs to go there as well. Your income and deductions, tax abilities and payments need to go as they were originally on under the box That says a original amount. Undersea, You're gonna need enter the correct amount, whatever it should be that the under that box and then be you're gonna enter the difference between each of those or the net change. Now, all the way down, we're gonna check were over here where it says exemptions, and you're going to see if there was anything that you forgot to include. If you had a dependent who lived with you didn't include them, you'd need to enter that information here or if you enter the dependent and you weren't supposed to you to also enter that information here so that there's a difference here. Now, don't forget the sign on the bottom date and put your occupation if your spouse If you have a spouse, you need to enter their information as well. If you competed tax returns jointly. If there's ah paid tax preparer, they would enter their information also down here, all the way on the top. Make sure you include your phone number in case the IRS needs to call you and ask you any questions. 10. What is form 4506?: form 45 or six is a request for a copy of attacks. Which of your tax return for the last year or as many years as you'd like, You need to enter your name. Your address. You need toe complete the year that you would like to have over the years you like toe have sent to you. You need to make a payment of $50 affairs. Ah, if it's a mortgage company that's requesting this information, they need to enter their information all the way on the bottom. You're gonna sign date, put your phone number. Your spouse needs to sign and date does well. If there are any questions that you may have or any Ah, you want to check the specific instructions of how to fill out this form, you'll see right at the on the 2nd 2nd page, right at the bottom. You'll see exactly what needs to go on each and every line and where everything needs to be sent 11. Getting started: Preparing your U.S. federal income taxes online: Okay, let's get started. We're gonna go to my terrible tax that intuit dot com We're gonna go ahead and create on the bottom, create an account we're gonna click on, create an account, and you're gonna create a user I d and password. I already created a user I'd be in past for just to speed things up. I'm gonna go ahead and enter my password and I'm gonna leave. Leave the the green check mark, check where it says, remember me so that I can just simply continue on the site while we keep talking. Now, as soon as we log on. I already entered some of the basic information for the for the dashboard Dickens initially , but now it's finally like logging in to already started sent me to move things along. We're gonna click on where it says Take me to the return. Take me to my return. That's a very practical website. It's very easy to use. That's why I have used it in the past. I use this website for for the same company for my personal and my business tax returns. Okay. As you can see, it says 2017 taxes because we're doing. We're calculating how much you have to pay in income taxes for the year 2017. Even though we're now in 2018. We, uh we need the information from 2017 to move along. Okay? We're gonna click on where it says pick up where I left off. 12. Personal Information: you're gonna see on the left there several things. There's my in full, which is your basic information. Your name, your soldier, your birth date, federal information tax information, which we're not gonna compete here. And then it's gonna review the tax return you've completed. And then we're gonna go ahead and five, okay, Personally, for summary, I put here just general named John Smith. If you click here where has, like, a little pencil you cook on that, it's going to allow you to edit the information that you've entered if you need to. In this case, if I put John and I misspelled it, I'm gonna change it to J o N J O h n. We're gonna change that or it says Smith. If we want to change it, we can. Your junior or senior of some. If you, uh, you or your dad have the same name and your dad a senior in your junior, you might as well put junior and senior. So I arrest Doesn't, uh, making mistakes and identifying each other the date of birth. You need to put two day a month. Today day two digit month, two digit day, four digit year The text of the Social Security number. You always have to enter your social Security number to complete your tax cheaters where it says occupation. And this is a very important tighter. If you are a teacher, you put teacher if you tax returns A professor, you put Professor, if it says if the majority of your tax return income is as a teacher, you would put that as your main occupation. If your main income is self employed than you would put self employed says you're if you are a member of the U. S. Armed forces. If you are, you could Yes. If you're not, leave it on leave. It has no choose the statement which you lived in this case where you live the majority of the months. I'm gonna go ahead and click here. California just to uses a reference purpose. Um, this is really in 2017. I lived in another state in 2017. No, for the things you need to know a Ziff, you're gonna have a dependent. You could yes or no if you're legally blind, yes or no. And if you're competing a tax return for somebody, that's already passed away. In this case, it's a note as well. Finish these. Apply to you. Go ahead and click. Yes. Okay. We're gonna pick up, continue to move along. We're going to stay in the Mayan for information for a little bit, and then we're gonna move on to the taxes. You Your personal information makes a big difference as to deductions. And what other another tax benefits that you can you can apply for and get automatically on online here is asking if you've been affected by any hurricanes. If you live in the state in any state that have been affected by hurricanes, you can could guess. Sometimes it does have some benefits. In our case, I'm gonna go ahead and click. No, it's going to simplify the process, but it could continue now. Personal information is here. I went ahead and put head of household. Yes, I'm single. Let me go into click here, which has had a head of household to go over what this means and what other options you have. If you're single, you have no kids. You after single if you're married, legally married, you would. Quick, Marat, If, uh if you have on rdp registered domestic partnerships. You click that if you're divorced, you were kicked, divorced, And if you are legally separated, you will also click on that. Your widow, You picking on widowed? Each one of these has a different tax consequence. She want to make sure you're enter the correct one. Well, if they can't continue 13. Dependents and requirements to be a dependent: Now, if you have any dependence, dependence can be your kids or somebody that lives with you, which you provide for if if, for example, you have a son or a daughter in your wife or your husband are declaring them as they're dependent, then you cannot put them as your dependant, only one of you, my eyes allowed to declare them as a dependent. If you have a cousin, younger, cousin, father, mother that you provide for and take care of, they would be considered your dependence, even though they're not Children there, people that depend on you. In this case, I went ahead and entered basic information. The iris requires that you put if it's your child and this includes adopted or step Children in. If it's somebody else's and you take care of, for example, you're married. You get married to somebody else that has, um, a child, and you won't include them on here. You can. And if you don't support anybody, then you click on that. But continue. We're gonna move on toe entering your son's or daughter's name here. I went ahead and put Jimmy as the first name. Smith is the last name the data Breath remembers two digit month, two digit date and four digit year. If they are U S citizens or legal residents, you click that to give you a few other options. I'm gonna be that there. And this is my son. If none of the others apply, then you cook none of the above. We're gonna go and click on Continue. Okay? It's gonna ask you how many months Jimmy lived with you in 2017. If Jimmy lived with you for the whole year, you click that. And if he lived with you for different specific months of the year than you would quit that as well. And it's also gonna ask you how many years months were in the U. S. You know, also be able to enter which how many months and were in the U. S. It's going to become, continue its move along. Now, you could ask if any of these apply to Jimmy during the year. If Jimmy was disabled. If you passed away. If nothing applied, hopefully none of the others a part of you. But if they do, you click on some of those or models. No, we know in this case because of the data brought that I entered automatically calculates that Jimmy is five years old. That's gonna ask you the website's gonna ask you if you paid for most of his living expenses. And when they're five years old, most most of the time, they will not pay their living expenses. So if it is your case, you could guess in this case for reference purposes we're gonna take on. No, I'm gonna cook on. Continue. No. If you have an agreement with Jimmy's parent about who can clean them, you have to make sure that you have an agreement so that both of you don't mistakenly declared declare him as your dependent and then the IRS comes back to both of you, and then you have to does eventually decide who's gonna be going home is independent. And if there's a legal document that needs to be provided, if that's the case, okay, same thing it's gonna ask you if Jimmy's other parent is a great eyes claiming Jimmy, if you agree to that, and if you create agreed to that No, no other parents gonna declare Jimmy as well. Dave. Relative lived in your home and they helped pay for things for Jim. Then you will cook. Yes, it's not, and you click the no. Sometimes they'll pay for food or for school, and then that would be a different situation. So in this case, through a tax tells you it's that this is good news that Jimmy qualifies qualifies, qualifies you for a tax break. So now he said that he provides you with a dependant deductions. We're gonna go ahead and move along. 14. Adding Dependents: we're gonna enter Jimmy. So security number right here you're gonna get you're gonna get a deduction of 4050. Okay, Jimmy's done. We're done with the with Jimmy. As are dependent. If you have more dependence, you're gonna go ahead and click on. Add a dependent and you're gonna add more dependence in this area right here. This is very important because the more dependence that you have, the more deductions that you're gonna have as well, which is gonna lower how much you either have to pay in taxes or increase how much you receive as a refund. 15. Income in Other States and Upkeep Costs: now that's gonna ask if you made money in other states. If you did, then you'd simply add those you're gonna cook on. Yes. And then that way it will open up in other screens. It'll provide you, ah, place where you need to input that in income information. If you didn't, then you go ahead and click annoyed and make any money in other states. Now, did you pay more than half the cost to keep up your home? Okay, if if you had to pay additional rent, mortgage interest repairs, food and other utilities to maintain your your home, then you're gonna cook. Yes. If somebody else paid those, then you're gonna click on No. Which means you're not gonna be able to deduct those things off your tax return. So if you did it always better if you do, if you plan ahead for the following year, make sure that, um, if it's gonna be paid, if they give you the money and then you pay that when you can deduct it, unless the purposes for them to be able to deduct some of these things off your off their tax returns now, our personal information should be complete. We're gonna go ahead down here. If you click on edit, you're gonna enter your street address, your phone number and your, um, city and state and zip code. If you need to add another state income, then you're gonna go ahead and add another state here. But if not, you're just gonna just gonna leave that alone? Mailing address is very important because this is where they I arrest is gonna send you any mail. If there's anything that needs to be sent and on your tax return, this address will appear on the top of your 10 40 uh, 10 40 easy, or whichever 10 40 ends up being the one that is completed. Okay, No, we're gonna go ahead and move on to some of the other things that need to be filled out. It they're gonna often different screens. You're gonna ask or offer you other services. They're gonna ask you if you want to have a terrible a double tax specialist, there'll be another charge. If you want to be able to have access to your tax returns all the time, if you want to save or story or information on their server But as as I'll show you, there's a lot of things that you won't need. And if you do, they're still the help button over here for the search. If there's a specific tax form that you need to search, you'll be able to find it here. Uh, so we're gonna go ahead and move on your tax returns. Normally, you'll be able to save him on your computer, which will save you time and money. Oh, so now these are all the programs that they offer here, which they're extending to you. This is just advertising. If there's something it does apply to you, then you can go ahead and pay. For example, this service over here, the Turbo Tax Deluxe. There's some other tools that are included over here. If you have just the basic, if they're offering just a basic 10 40 easier 10 48. And if you have to do tax state tax returns, which we're not going to go over and this, of course, and then you would click on click on those as well. Now it These, the 1st 1 of free doesn't offer any of these other services, but once you start paying. You're gonna have some of these other services as well. If you want to upgrade and pay for those that's up to you. But for now, we're going to stay on the free. We're gonna click on, not now. 16. Wages and Income: If you ever want to see how your tech critters appearing so far, you would click over here on the top left, show my refund so far and it'll tell you how much you're getting back. But we haven't entered any income, so it's not very practical to do that yet. Okay, so we're gonna click on start at the beginning, we're gonna go ahead, and it's gonna assume that you, uh, have a job and that you have a W two. You can go ahead and add other forms of income as well. Okay, We're gonna go ahead and, uh, quick on W tomb. If you're gonna enter the information on your W two, if you don't have it in front of you and you want to skip it for now, you can skip it and then come back after you put your expenses and some of the other information. If you don't have w twos, you didn't receive them. Then whatever form of income it is that you do have a screen will appear where you'll be able to enter that information. Like over here. It tells you if you have 10 99 it a little, you'll go. Go there later. Right now, we're gonna click on W to just to use it as an example, because most people have the BTU's. Okay, we're gonna enter a taxi. The information. We're just gonna just that there's some random numbers here. Okay? Where? It says the number. That is the tax I d. For the company that's paying you well, that's paid you your income every month for the year 2017. And that will appear on the document that they sent you either via Elektronik, electronic or physical format through the meal. You're gonna go and put your employer name as appears or box seat. Please don't enter the information, um, that you might have as a person, you have to make sure you enter whatever's on the tax tax document as it might be. A different company name. Some of them might be an L. C. It might be an organ might be a corp for a corporation. They might have ah, different name that they use an 80. It's a fictitious name which, which is allowed, and some companies do. You're gonna go ahead and put the address of the employees that appears on that tax form. And if there's a control number, you're gonna go ahead and click on control number. Right below that, you'll be able to see a box. 12345 and six. It'll be it'll display different forms of income and whatever deductions they had for so security for tax. Federal taxes for Medicaid taxes, uh, that were deducted from your income. We're gonna go ahead and also enter some general information, ABC Corp. We're gonna go ahead and enter Los Angeles now we're gonna go ahead and enter. Is it cool for the income portion? We're gonna go ahead and enter some random numbers we're gonna put here for 4684. So, security 17 25 Medicare 5 95 You're so security wages. Is it already too? And Medicare also. Now, this might not be your specific situation, but at least it gives us some numbers to work with. Now, if you have other items on other boxes, you also have toe enter those below. In most cases, there's there's not always a situation where you have to enter those information that information. But in this case, we're just gonna skip the rest. We're gonna move along. If there's a description on on the W to you, go ahead and enter that as well. But for simplification purposes, we're gonna move down to the next step for state taxes. We're not gonna answer any of that information either, because we're gonna go ahead and complete that, uh, on your own. 17. Refund or Payment Summary: we're gonna go over the federal tax return Income tax returns only. So now it says your federal refund so far is 2943. So with an income of $40,182.1 dependent and you're single, you're receiving 2843 which is a pretty good refund. Now, if you had another dependent, this number will increase. There's other tax deductions that will also look at in just a moment where it said deductions and credits. Okay, It says you didn't interstate or local tax amounts for ABC Corp. We're not gonna go ahead and enter any of the stack that tax information. So we're gonna click? No. Okay, now it's gonna ask you if there's any particular situations that apply to you if you worked outside the U. S. If you, uh, if you paid family lead leave if they're on reported tips, there's other information here that you need to go toe go to go over to see which one applies to you with none of them apart. You cook on none of the above when we continue. Okay? Now it's gonna ask if you had any self appointment income. If you didn't, then we go ahead and click are No. If there are any alternative or other forms of income, it's gonna show you different types of income. 18. Types of Income: if there are any alternative or other forms of income, it's gonna show you different types of income in different type of 10. 89 is that you could have. So it's gonna show you what types of income we're gonna have. Salaries, wages, which is a W two self employment income 10 99 10 99 k But the types of expenses, if you have ah ah, type of business, you don't you make all cash. This is where you would go ahead and into that information as well or other common income. If, uh, you haven't unemployment income, you put in to enter that there. Now, this is a common form of income that most people have either interest or dividend that you receive on money that you have in your back account. If you click on click show more, it's gonna show you exactly which ones you could enter and would enter. It'll tell you dividends if you have stocks 10 99 interest. If you pay, received the interest. And if you have any foreign accounts, this is, ah, very important issue with the IRS. If you have foreign accounts that receive interest, you have to declare that, and that will save you a lot off, uh, problems if you have investment income. If you let's say you have an account with, um, Scottrade or a different broker and you had investment income, you bought stock during 2017 and you sold it and you made a profit. Then this is the document you would receive. And this is where you go ahead and declare whatever profit you made on that stock, uh, any other retirement pants. So security goes there. Royalties, rentals and farm. This is another type of income that some people have toe go over more in detail. This is the type of income that might require the help of accounting, especially for rentals, property rentals for at least for the first time. You do that. If you have other types of business situations, like when you have health, health insurance or losses, you'd also enter that that there. Now, if you have a W two, but you also have a company, you receive your w twos and you have a company, an escort for partnership or a trust. You'd enter that information here, sometimes income that you have from an escort transfers over to your personal income. And that's exactly where you would put that there for an escort normally has done through a K one and that's automatically generated based on whatever income and expenses you put on those forms for the S Corp. Now, other common income will go here. If you sold your home, that would be there. If you had a mortgage and you couldn't pay it in, the bank had to write it off would be considered a castle debt. And that's what you would have here if it's a 10 99 Sear 10 99 A. Each one is different. If you have gambling income, you'd also enter that here. We're gonna go ahead and move on to wrap up income. It's going to go over in detail, each one of the types of income. It would take too many hours to go ahead and put the income for each one of those sources. 19. Foreign Bank Accounts: since this is where you would enter if you have any bank accounts that are in another country, which, which is why I call it a foreign back account trust or a financial asset. This is Ah, hot topic for the I. R s simply because of money laundering stuff again. So in this case, we're gonna pick on. No, we're gonna move on if especially if that's not your case. 20. Deductions, Credits, and Expenses: Now we get to go into the one of the main keys getting the highest refund on your taxes and most tax breaks. If you're paying a lot in taxes or you don't want to have to pay as much in taxes, we're gonna go ahead and click on Continue. Let's see what breaks with deductions and credits we get here. Since we have a child and there are dependent, we're gonna go ahead and click on the child tax credit. We're going to see why it is. We didn't get it yet. If there's some information that needs to be completed here, we're gonna go ahead and enter that now. Okay? Earn income affected by hurricanes we clicked on. No, we already said we don't have that. The data. There we go. The child tax credit now applies. We just needed to go through the screen. And now it does a pie. If we received any letters from the iris stating you must that you must complete the form 88 62. Then you go ahead and complete that. But in this case, we're gonna click on No, remember, that's when you have to decide if your husband or your wife need to complete that form simply because it's you guys have created an agreement, um, to decide who's gonna be deducting your son or daughter or your dependant. So now you can see that you added another $1000 towards deductions, which is a nice thing to have donations to charity. If you go to church. If you there's ah, non profit organization that you believe in and you donate money to every year, then you go ahead and click on start there it. Most people have car registration fees. If you have a car Souto enter that information there. If you have scholarships, a lot of people that go to school that receive scholarships would enter that form the 10 98 t all that information in there. Another hot topic is the student student loan interest paid. You can only deduct the interest, so we're gonna go ahead and enter there, and you'd be ableto enter the interest that you paid on form 10 90 80 that you normally receive in the mail. If you have medical expenses. Medical expenses are very useful top subject simply because if you have medical expenses, they can add up quite a bit, but they can also be expenses that you can use to reduce the amount of taxes you have to pay. So this is a very useful screen there as well. Um, now, we already entered our income for W two, but we didn't enter any expenses. Now we're gonna go ahead and a enter whatever job expenses we had here, This is important. And we also had other income taxes, which is over here on the top employment expenses related to your W two. If you have to travel if you drove the work, Not when you're driving around for shopping. When you go to the supermarket. When you take your kids to a soccer game, that doesn't count only when you're driving to him from the work. If you had meals no, normally music entertainment expenses are are our expenses that aren't con counted 100%. You have to go ahead and see exactly how much they're gonna be expensed as travel. If you took a plane, a train ah, vote even a car. If yet they had to rent the car, that's where you went to the travel expenses. Um, any expenses that you put on your 10 99 they can't go on this screen. You have to. And put those separately on the 10 99 screen and any other home office expenses were job related equipment that you have to get. It's gonna ask you, if you had any of these, we're gonna click on yes, and we're gonna use the travel expense. Right now, most people drive to and from work. So that's something that you could enter there. Okay, Did you have any of these expenses? Job seeking costs? If you had to drive to, ah, job interview, then that would be a job job seeking cost if you had to purchase a uniform toe work at different places. Many people require uniforms. Many of the businesses provide the uniforms to you, but some don't. If that's not the case thing, if that's an expensive you go ahead and enter that as well. If you had any professional subscriptions, if for your work, you have Teoh pay Google Drive and the upgraded version or other different types of subscriptions that require that you could go on that or any union dues we're gonna cook on . No. In that case, 21. Expenses: Job Related: Okay. It's gonna ask you what occupation you have in this case we enter that were a teacher. We're gonna have to teach her again. You have any uncommon situations? Uh, that a part of your job? If you have a fee based fee basis for ST our government, you'd enter there If you're in a disaster area. If your work a reservation property there are many different situations. You have to see which one applies to you. But we're gonna go ahead and click on none of the above to simplify the process. For now. Now, this isn't a very important topic for the iris home office expenses. Now, if you declare that you have a home office or that you work at home for a percentage of the time you're gonna be you're gonna need to be very specific as to how much space in your home you use And how much time you spent at home working for now we're gonna cook on No, we're going to simplify things as well. That's a common reason. Get audited. Unless you complete that information correctly. Now, if you had any vehicle expenses or sales, we're gonna click on no in this case. But if you have a car, you to enter the mileage that you use. And if you have passed any tolls for gas that you have to cover for the travel to and from work, this is where you enter the information. This includes these payments as well, and the car depreciation or any repairs you have have. And here's the gas that I just mentioned as well. So we're gonna cook on No. Now, if you had to buy any items or anything for work is some companies provide you with laptops , others don't, and you have to get your own laptop. Then this is where you'd be able to put that If you had to purchase any software for that computer for work, then you could also deduct that as well. If you needed to go ahead and put a, uh, a table and a chair to be able to work on that laptop, and that would be something else. That would be be, uh, on on your expenses. If you had the purchase, a printer for a scanner, then that would also go on office machinery. We're gonna gun No, we're keeping things simple. just so we move along the process and you can enter any specific details that pertain to your situation. If you have any deductions from 2016 that you want include here they're called Carry overs . That means if, for example, in 2016 you didn't deduct certain expenses that you should have and you would have ducked deduct them. Now, then you click on. Yes, but for now, we're gonna click on No. Okay, this is when we're gonna answer some of the travel expenses we talked about before. If you had to travel to another city for training, for example, and you had to pay for parking, taxi and bus expenses, let's go ahead and enter that. Let's say, for parking you have to pay a $30.50 dollars for the 1st 3 hours. Um, and then you had training for two for a couple of days. Then we enter $30 travel expenses. Let's say the tickets were $500 and you also have to pay for a car rental and the hotel. Let's say, in total you had sex yet to spend $850. That's where that would go We're going to skip amusing entertaining because there's more to it in terms of how much you can expense. It's always based on a specific percentage. And if you had education expenses, this is a common expensive most people have. If at work, you are required to do a specific training, um, on an annually bait annual basis or a monthly basis, then you'd enter that there, Let's say a prominent to $200 because I have to do a specific training. So I entered $200 business gifts. We don't enter anything there. Oh, our professional publications were not gonna enter anything there as well, so we're gonna continue now. Always remember, there's expenses that you'll be able to deduct when you work for a company that will be different. Two. When you own a company, as you'll see here, there are expenses that are that are a lot less or shorter than what you normally have have to enter, and now you're allowed to enter additional expenses that are job related down here. If, for example, they weren't on the list that they mentioned right there, if you have to pay for, um, other equipment or other things that were qualified there you enter here. The specific description and the amount for those 22. Reimbursed Expenses and Special Situations: if you receive any reimbursements for those expenses. So let's say, out of those 850 that we spent traveling, we were reimbursed 300 of those 850 then this is where we would answer that. But let's say we weren't reimbursed. We have a tough employer, any special situations if you're disabled, if you're qualified as a performing artist or your armed forces reservists, this is an important part of your tax return. If you have anything to do with the armed forces, there's always deductions that is very positive, so make sure to enter the that information if you do qualify for that. 23. Expenses: Summary: Okay. Total expenses. We had $1080. We had $30 for parking 854 the travel expenses, and we had another $200 for training and education. 24. Tax Breaks: No. We have our $1000 tax credit for our child. We didn't enter any donations to charity, but most people have that and most people have car registration fees. You can also enter that. We're gonna go down to the bottom casualties and thefts. You can enter that here if it's your if that's your case. But if not, we're gonna go ahead and wrap up our tax breaks. Now, the screen is gonna go ahead and double checked for every possible tax break as it says there. So it'll calculate deductions, credits, and then it's analyzing. Once that goes through, you can click on Continue. Now it's gonna check to see if you had any dependent care and child care. If you paid for job. Er, then that isn't expensive. That's something that you will be benefitting from. I'm gonna cook on No, for now. But if you did, you could gun. Yes. Now, this screen's gonna tell you that you can get up to 5500 on your taxes deducted off your taxes if you get an irate A. But I suggest you go ahead and talk. Contact your investment advisor for somebody that can give you more information as to what an IRA it is for your retirement and how that could benefit U s so that you can do it properly. So we're gonna pick on, not this year from now. Okay? Tells you what you're getting. You're gonna get a federal standard deduction, which is what most people get. This deduction it says here is 9350 based on your specific situation. 25. Health Insurance Coverage: that's gonna ask you if you had health insurance coverage in the year 2017. If you did, you go ahead and click are gone. Way had health insurance coverage. Or if you wanna choose specifically which months you had it and who had it, then you click on the bottom. For now, we're gonna pick on none just to skip the process. If you could gone none. There are some tax implications and sometimes a tax penalty. They sometimes it's forgiven, depending on what you enter on this screen. Now, if you click on that, they weren't affordable because they were too expensive. You click on that. That'll help a lot. Applied for a penalty exception. Got exceptions. Difficult number if you did. You go ahead and do that. It wasn't required to get insurance if you were out of the country. If you're resident of another country, you're in jail. There's many different situations of which you, uh wouldn't have to have toe have health insurance if you had a far trip. Also, if something happened, you lost your job. You had an accident. You could also enter that as well. We're gonna cook, can continue based on your situation and tells you that the penalty has been waived so we could can continue, so there's no need to pay any penalty. Now. It tells you that's all you need for the year 2017 in terms off health insurance. So we're gonna cook on done with health. 26. Uncommon Tax Situations: now it's gonna give you some reef, Uh, of all uncommon tax situations. Now, if you had business taxes and deductions that you want to go ahead and enter, you can enter that as well additional tax payments you've made if your identity was stolen or if you made ah contribution to the Presidential Campaign fund. 27. Federal Return Accuracy Review and Refund or Tax Payment Due: now it's gonna let you check. Are you fair? A tactic Tax. Federal tax returns looking. Let's see what it looks like. The screen is checking computers. Working on your tax return is gonna give you a summary, okay? Tells you it looks good. So right now we have federal refund of 2943. Based on the information we enter, we're gonna click on show more. When we entered our family status is head of household. So that's one way to increase our deductions. We have independent. That was our other way of increasing deductions plus the child tax credit. And, uh, based on the income we enter, 40,182 way were already deducted 4684 in taxes on R W two and then, based on the federal deductions and exemptions that we got, which, with 17,450 which is good amount and federal credits, we were ableto get a total of six of 2943. Now it's gonna go over one more time your federal tax return to see if everything is correct. We skipped over the state taxes because right now, this course is only about federal tax return. Okay. Says you're ready to file. Now you're ready to go, so we could continue. Okay. Remind you what your final numbers are. And it says your taxes air done. Right, guaranteed. Okay. Tells you hear that. You didn't do your your California tax State tax return, but we're not gonna do that. We're gonna skip that. Okay? Now it's gonna tell you ready to file? 28. Filing Tax Returns: Save and File Returns: to be able to file those you're gonna review your order is gonna offer you different products s so that you can upgrade to different versions in case you want that, um, gonna tell you what your refund information is, or if your case is to pay what your payment information would be on, then it's gonna help you save and file your returns, which you should always do on your computer. And if you could put a physical copy, that's always a good to a good thing to do in case anything happens to your computer. Okay, there's your total refund Now down here, it gives you options to upgrade a plus plus version helping tools. We're gonna skip that and continue. That's gonna ask you to please enter your registration information. If you use your a your information from your tax return and click on here, all this information we're all will automatically populate. We're gonna go to the bottom and click register A registered for TurboTax. We're gonna cook, can continue to file okay, your refund information. We chose not to pay for any to use any of the paid versions were using the free edition of the TurboTax says, how do you like to receive your federal return? Federal refund, direct deposit, prepaid visa card. Um, paper check or put some of the some of my refund into U. S. Savings bonds now depends on your situation. I suggest that direct deposit, because that way the money just goes to record to you. If, for example, you want to make sure that you have access to it through a visa card, you can also have it that way. Paper check. Usually, once you deposited, it takes another 3 to 5 or seven business days for it to become effect. That's the only catch with the paper check. But if you it has to be a paper check, that's perfectly fine. Also, make sure the mailing address is correct. So it arrives at the right place and and that you tracked it and you make sure that it arrives. For now, we're gonna go ahead and skip the direct deposit because we're not gonna put any, uh, direct deposit information. But it's very simple. You need only to have your back account information and your routing number bank routing number. We're gonna cook on paper check. So it's going to use the same address that we already entered on a tax return. The 123 Happy ST. Los Angeles, California 90001 Well, we could continue. Okay, it says there's one asked that need to save and file your returns. We're gonna go ahead and save him on our computer. If you want to go ahead and upload them to a cloud and save him there as well. You can do that so you can choose here to file by meal. Or if you want to e file for the e file, there's a few other steps. If you want to file by mail, let's go ahead and use the first version we're gonna file by mail. You're gonna print them. Let's go ahead and click on file by mail so you can save. You can continue 29. 1040 Review: Determine Accuracy of Information and Where to Mail: So we're gonna download our tax returns once you download him. Going to show you what they're gonna look at look like? Okay, who's gonna take a few seconds? Top food most the time. It will be as a PdF, so it's easy to easy to open. Easy act. Easy to access. A swell. Kate. Let's go ahead and go over really quickly over your, um, your federal tax return for the year 2017. It tells you that your refund amount will be the $2943 that you need to attach a copy of your W two to your form 10 48 which you're gonna go go are gonna be mailing. It tells you exactly where the male toes you. Department of the Treasury Internal Revenue Service, Fresno, California. 93 888-0015 You want to make sure you put that address on the outside of the envelope? Uh, I prefer to go ahead and make sure it's the literary confirmation to make sure it's been confirmed that somebody received it so that you don't have any trouble with the IRS later on. Now you want to make sure that it's it's mailed before April 17 says you're postmarked by Tuesday, April 17 2018. That's very important. You don't wanna send tax returns leak. It gives you a breakdown of what you paid and your effective tax rate. You were at 4.33% which is very good. So nice in the lower factory, it tells you your tax free tax. Federal tax returns are 100% guaranteed. Accurate calculations. This is what you will go ahead and click on print or download. You download it on your computer and you save it now. Very briefly. Let's go over your actual tax return Everything we entered on the computer out of populates over here so that it's organized for the I. R. S. This is form 10 48. There's another form called 10 40 Easy, which are the two most common forms of tax. Ritter's Here's your information, your name, your address, your your so security number. It asked you if you're filing with your spouse or not. In this case, we are doing it by yourself by yourself. Here's your dependents. Name your son with this eso security information and it also says he's your dependent. He's your son. That's the reason why you're your He's your dependent. If they're under 17 years of age, you could. It's quick. Yes, here, we're gonna go ahead and look at income for the income it tells you for wages, salaries. Here's the 4th 40,182 that appeared on your W two. I didn't We didn't include any other forms of taxable income on this on our 10 40. Now, all the way on the bottom. It tells you the total income and totally justice adjusted gross income because we didn't have any other information that we entered. But if you do have student student loans or IRA an IRA deduction or educator expenses expenses, you would enter that information there. Now, if we go a little bit further down, we got our standard deduction. Which is the fact 9350 um, it subtracts 9 22 with Line 24. You get what what's right here, the 30,832 which becomes your new taxable amount now. Besides that, they're going to go ahead and give you another exemption, which is the additional exception of 8800 that you get now that Norse your taxable income to 22,732 which was lying 25 minus line 26 Right here, 30,830 to minus 8100. Now, if we go ahead and add up lines 28 29 we get 2741 we ever Total tax credits are child tax credit for $1000 which brings that 2741 down to 1738 41. Now our total payments would be 4684. But since on your w two you were deducted a specific amount. Um, that difference, the amount you overpaid is 2943. So that is the mount. That's that's Refund it back to you, the 2943. And this is where you would if you would have requested for a direct deposit. This is where you would have entered your routing number and your account number, and you would enter. If it's a checking or savings account, you need to make sure you sign wherever it is that you need to complete, which in this case would be your signature. If you were doing it with your spouse, your spices spouse would sign right under your name You dated. You put the date for your wife as well. Um, your occupation and your wife's occupation is the phone number in case the iris needs to call you and ask you any questions. If you had somebody prepare the taxes for you. This is where the tax preparer would enter their information in their signature for the health care coverage. You'll see that it says zero. There's nothing on here because we didn't enter anything there. And we enter that that was that information was accurate for all of the months from January to December and that you had a tax exemption. You have an exception. You have to pay taxes on that for not having insurance. Now, you go ahead and you say this on your computer. Make sure you dated for 2017 and make sure that you printed out. Since in this case this would be the mailing format. This is what you would do you wouldn't print this out, you would sign. It dated and you had mail it to the address that appears right here. Okay, so basically, make sure that you include the W two. We're gonna go a little bit further down. There's a specific number. This is how you do this, how you submit your tax returns when you bring in meal. Now, to be able to e file your tax returns, you're gonna need a specific number, which is for the year 2016. This is 2017. You need to look at 2016 your adjusted gross income, which is also known as your a G I. This number is the number you will need to be able to provide to be able to e file. If not, you will give it to e five. We're gonna go further down and on your tax return. We're gonna find that number so that I can show you exactly where it appears. Okay, this is your total income just below you total and comets, as on the left adjusted gross income AGI I down here adjusted gross income lying 21. It says 40,182. This is the number you're gonna need to save. And remember, if you want to write it down on a piece of paper But for the year 2016 whatever you want for 2016 if you don't have a number number or you didn't do your tax returns for the year 2016 then you need to go ahead and print and and mail your tax returns. So we're gonna close this and we're gonna go back over here and click on Continue. It's gonna tell you finalizing your returns. In this case, since we don't have a number for the year 2016 we're not gonna enter the FA. But the evil all you do is you enter the 2016 and you would enter your your choice of how you want to receive your refund. And then you'd be able to e file and it will give you a confirmation for the FAO. Since it has your email saved your due later on receiving email. It's telling you that you just e file your taxes. But you didn't file. You were. You would have had to enter your a d I your adjusted gross income to be able to eat. Um, so it says you're done. We're gonna pick on Skip. Okay, Now they're offering you more services, but we're not going to get any of those services. Downward says no, thanks. I don't want those bent these benefit these three benefits. We're gonna click on that. Keep my free offer. No things that's pretty much all done his way to go. You followed in 2017 taxes. So you go ahead in case you didn't do that before. Cook on download and print your tax return Print and download says ready to mail if you need to do state taxes to go ahead and do your state taxes. But for now, we just focused on doing your 2017 um, federal income taxes. So it says here to make sure that you mail it by 2000. By 2018. April 17th you want to make sure that you don't mail it a day before or on that date because it won't arrive in time. You want to make sure you give yourself a few days at least a week so that it arrives on time, and this is how you prepare your federal tax return 30. Amending Your Tax Returns: Now, let's go ahead and go to the bottom. We're gonna go a little bit further down if you need to make a change to your tax return. We were quick on a man or change. Return the data download and print it. You can do that. The view Your a D I. Your gross adjusted adjusted gross income. You go ahead and do that most of the time. You want to make sure you have a printed copy. If for any reason you need to Amanda, change or make changes here. This is the place to go. You would click on a men using TurboTax online. Also, if you need to download the doc dot ta x file. That's also a good thing to do, so that the following year, in case the website didn't save it, you can upload it back to TurboTax for the following year. So we're gonna click here, amend using TurboTax online. This usually happens. Um, after you've already done your tax returns and you've already mailed it out, you need to do an amendment to your tax return. Okay, so now that you're gonna make your amendment or your changes to your tax returns, it tells you to review what changes need to be made. And they're gonna ask you some questions about that, make the changes and then you're gonna be able to print. And then you have to mail the amendment of the tax attorney. It tells you on the bottom that you can t file. That's exactly right. You need that. You need to go ahead and mail the documents over. So we're gonna click on continue and then it's gonna ask you if you've already filed this return. If, for example, on 2016 you noticed that your tax returns for 2016 had a mistaken, you never correct them, and that's something that's gonna come back to you or it's gonna keep you up at night. You want to go ahead and make the amendment and send it back over, even though if it was, it was the prior year. For example, in 2017 your 7 2017 tax returns you already mailed them, and then all of a sudden you noticed you made a mistake and there was another income that you forgot to claim or a 10 99 or W two that wasn't supposed to arrive actually arrived and you forgot you had that income. Um, you want to go ahead and make sure you print that and then added over at it onto the the amendment amended tax return. And you were cooked? Yes. Here. If you do need to amend its gonna ask you what year If it's gonna be a book before 2000 7015 or 2015 if you need to do it for the year 2016 or 2017 doesn't matter what year it is as long as you have the at a songs, you have accurate information. You don't want to have any surprises. There any problems today to run from the I. R s city because you didn't take the time to make the next necessary corrections. So let's say I'm gonna make changes to the same 2017 return, and I click on continue Now. It says here that for the year 2017 the I. R s is still working on the form 10 40 x, which is the amended tax return form for the year 2017. So we won't be able to do it for the year 2017. But for the year 2016 and older, you can't you would go ahead, pick on back and we're quick on 2016. Then, if that was the detector turn that needed them, have corrections. Now, if you want to have the corrections, you need to have the 2016 version of TurboTax. If you don't, they allow you to download it and do it automatically there. It's actually very simple.