taxes...

[id10t]

Son is already looking at doing his taxes (via TurboTax)

He's working as a A-tech at a tire/mechanic place, made $35k. He spent $4-5000 on tools.

Worth him totaling up etc and claiming or will it be like my medical expenses in that unless we have a kid or the wife has an operation we are better off with the standard deduction?

[masraum]

Turbo Tax should guide him/you. If you want to try one or the other, then fill in what you think will be the total (without having to go through all of the actual receipts) and see what it says.

My guess is that unless he's got enough expenses to surpass the standard deduction, there's no point. The standard deduction for someone single is $14.6k.

https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2024

[Dixie]

FWIW, I use FreeTaxUSA. Intuit's fees are simply unreasonable.

[rwest]

Originally Posted by Dixie

FWIW, I use FreeTaxUSA. Intuit's fees are simply unreasonable.

Yes! Turbo Tax is a rip off, I have been using Free Tax USA for more years than I can remember and it even does my LLC for free. I only have to pay for State filling.

To the original question, just like has been said, the standard deduction is so high that unless he has more deductions beyond the tools, it probably won’t help.

[KFC911]

Originally Posted by Dixie

FWIW, I use FreeTaxUSA. Intuit's fees are simply unreasonable.

Does it import data from a brokerage and prior returns (after using it once)? TT is a rip, but I've been using it forever ... but it's just so easy that I haven't bothered to pursue alternatives before.... mebbe it's time?

[fintstone]

He cannot deduct them as unreimbursed business expenses.

[rwest]

Originally Posted by KC911

Does it import data from a brokerage and prior returns (after using it once)? TT is a rip, but I've been using it forever ... but it's just so easy that I haven't bothered to pursue alternatives before.... mebbe it's time?

Yes, it brings your info from the previous year when you use it for no charge. Unlike how TT used to be and might still be unless you paid extra.

[john70t]

Originally Posted by fintstone

He cannot deduct them as unreimbursed business expenses.

I would listen to the above advice.

(Plus that $5k would be below the itemizing threshold. Unless there is a specific business he owns, which incurs expenses, and there are are considerable and provable costs with a paper trail to withstand an audit, itemizing would not be worth it or probably legal especially at that level. The last time I looked the standard deduction was $7,500 but it has gone up considerably. wow)

https://www.nerdwallet.com/article/taxes/standard-deduction
"The standard deduction for 2024 (tax returns filed in 2025) is $14,600 for single filers "

[zakthor]

Originally Posted by KC911

Does it import data from a brokerage and prior returns (after using it once)? TT is a rip, but I've been using it forever ... but it's just so easy that I haven't bothered to pursue alternatives before.... mebbe it's time?

Three cheers for tt.

Intuit is bad because they pay off congress to keep filing complex… but TurboTax is definitely not a rip.

First time in a decade I did my own taxes last year. I tried every consumer tax program I could get my hands on. Free, not free. only TurboTax was usable for me.

Before settling for tt I even wrote a script to translate some of the brokerage formats into the csv form that hr block could read but i gave up when I got to fidelity..

TurboTax was able to import from all brokerage accounts and it was magic and seamless and instant.

The TurboTax online is a laggy nightmare but the download for windows is the best I found. Amazon recently a deal where deluxe was $35. It was way less work than interfacing with my scatterbrained tax pro and costs 100x less.

[KFC911]

I've been using TT forever it seems (back when you purchased a CD) and their online version for over 15 years .... it's been great and handled everything I needed.

Now I have very simple returns (my parents' too) and being bumped to the Deluxe (I think) version because I import data (or mebbe it was simple IRA stuff) was and is bogu$.... but easy... sooo ...

I'll prolly just do what I do ...
and ***** about it again next year

I reckon it's about time ....

I LUV paying taxes .... the more I pay ... the more I love them

[KFC911]

Yeah ... after a brief look ... I'll be using TT as soon as the data is ready for import...

Pricele$$

[id10t]

Thanks all, I figured the standard deduction was the way to go but it dont hurt to ask

[MBAtarga]

I've been using TT for (likely) decades. I've only got minor complaints. I don't mind forking over the ~$50 at Costco each year for my license purchase to download the SW. And I file GA state tax with it as well.

[porsche tech]

The first year they started doing short term gains, long term gains, when you bought it, when you sold it…I was lost. Erased holes in my worksheet trying to figure it out and told my wife I couldn’t do it any more. Finally sent it in, figuring they would let me know if it was unacceptable. Next year I did TT and everything on schedule D magically appeared just by answering the questions. My taxes are relatively simple as I’m retired and not a high roller like most of you guys but I’ve used it ever since. Now that I’m retired and no debt, TT always recommends standard deductions.

[fintstone]

If my taxes were very simple, I would probably consider using the free IRS electronic version:
https://www.irs.gov/filing/irs-free-file-do-your-taxes-for-free

[masraum]

For the first ~10 years that I had to do taxes, I used a pencil and the free booklet with forms for 1040EZ that you could pick up. For the last ~35 years, I've been using turbo tax. I've always bought the CD/DVD. For the past 2 years, that's not been available and I've done the download.

I think I usually pay ~$40. It's easy and pretty foolproof. I have no complaints. Being able to download/import everything is very nice.

[Gogar]

If he is a W2 employee he can't deduct them. He can deduct them if he uses them in the course of any 1099 work he does as a contractor or in his personal business, and they can only offset that income, not his w-2 income.

Same as musical instruments unfortunately

[masraum]

For the first ~10 years that I had to do taxes, I used a pencil and the free booklet with forms for 1040EZ that you could pick up. For the last ~35 years, I've been using turbo tax. I've always bought the CD/DVD. For the past 2 years, that's not been available and I've done the download.

I think I usually pay ~$40. It's easy and pretty foolproof. I have no complaints. Being able to download/import everything is very nice.

[KFC911]

I've been using online TT for a long time now.... and just my phone's browser .

Imports & State taxes... EZPZ ... a cheap convenience ....

TT again ... 15-20 minutes of pure hell

Yeah .... I did 'em on paper by hand for years too .... in much simpler times.

Soooo ... yay TT!

[stevej37]

I've been using HR Block for mine the last 6 or 7 years.
Most of my holdings are at Ed Jones, so a few days before my appt at HR, I click on 'send all tax forms to HR' When I get there, it only takes about 10 minutes and I receive my refund within 3 days, direct deposited. Fed and State