TAX TIME- By hand?!

[Kestryl]

So for the first time ever, I do not qualify for free filing (yea?). So I’m considering doing it... by hand. With the IRS Free Fillable Form.

I must be entertaining delusions of grandeur, right?

It just doesn’t seem all that out there. I know my filing status (married filing single- husband student loans reasons). No defendants. I’ve got one job in one state which does not have state taxes (compared to two in different states last year). I have interest and dividends, just like last year. I recharacterized an IRA from traditional to Roth, just like last year (my third year doing this). The only difference is we bought a house, but the mortgage interest would require an itemized deduction which would be far below the standard deduction (even with other itemized deductions). So that’s not even a factor.

I’m good at math. My husband is good at math (he teaches math, for goodness sake, and has done simple “tax math” in class). The only worry I have is through misunderstanding, and I literally just have some new numbers compared to last year. (Or the year before that...)

Plus, I don’t know, it seems like a fun challenge.

Has anyone else done their taxes by hand? Or, if you think I’ll regret this, do you have a software recommendation?


ETA: I’m not scared of software. I did it perfectly fine through (free) software for the past few years. I’m above the income limit for free software, so the debate is really do I need to pay $50+ for something that I could do by hand? And if I should use software, what should I use?

 

[Cynner]

I've used TaxAct for a decade, and I find it has some handy tools, is easy to use, and isn't too expensive.

 

[_19disnA]

I think most people can do their own taxes (either by hand or using tax software) unless they own a business or have some very complicated financial issues that most do not. Have used TurboTax as well as H&R Block software and both work equally well. All of the tax software programs lead you through the process and prompt you to enter income/expenses/etc. and then it puts the right numbers on the appropriate forms. FAR easier then trying to do it by hand. None of the tax software packages require you to have any knowledge of taxes, the laws, etc. You basically answer some simple questions and then go through each section providing the requested information.

They also allow for electronic filing of your return.

 

[Kestryl]

I've used TaxAct for a decade, and I find it has some handy tools, is easy to use, and isn't too expensive.

I’ll have to look into it more- TaxSlayer automatically threw me into a higher tiered option because I own a home. But unless I am seriously missing something, I’ll be doing standard deduction and can’t claim mortgage interest.

I think most people can do their own taxes (either by hand or using tax software) unless they own a business or have some very complicated financial issues that most do not. Have used TurboTax as well as H&R Block software and both work equally well. All of the tax software programs lead you through the process and prompt you to enter income/expenses/etc. and then it puts the right numbers on the appropriate forms. FAR easier then trying to do it by hand. None of the tax software packages require you to have any knowledge of taxes, the laws, etc. You basically answer some simple questions and then go through each section providing the requested information.

They also allow for electronic filing of your return.

Yeah, I’ve used software in the past, when I qualified for free filing. Now they all want me to pay $50+++. TurboTax actually bothered me a lot last year- I don’t remember if the numbers are the same, but H&R gives free filing up to $69,000 AGI this year, while TurboTax does only $36,000 AGI. I’m above all the free filing this year.

 

[DisMommyTX]

I have used various H&R block software options to DIY taxes for myself and various grandparents/parents/siblings the past 12 years. It's not as scary as it seems. The simple ones really are that easy. This will be our first year using a new CPA bc we bought a short term rental. I could probably figure it out, but I suspect he'll find more than enough deductions to make up for what we pay him.

 

[Kestryl]

I have used various H&R block software options to DIY taxes for myself and various grandparents/parents/siblings the past 12 years. It's not as scary as it seems. The simple ones really are that easy. This will be our first year using a new CPA bc we bought a short term rental. I could probably figure it out, but I suspect he'll find more than enough deductions to make up for what we pay him.

I just edited my original post- I don’t think I was clear enough. I’m not scared of tax software. It has been ridiculously easy to use in the past few years. I just don’t qualify for free versions, so if I have to pay, I want it to be worth it.

 

[easyas123]

Isn't H&R Block online free? $30 if you go up a level -

I've used them to do my boys taxes a few times, not terribly difficult, they walk you thru it.
Good luck!

https://www.hrblock.com

 

[easyas123]

Sorry - I musta posted at same time as you! Please disregard.

 

[Kestryl]

Sorry - I musta posted at same time as you! Please disregard.

That’s ok! I should have been clearer.

I used H&R Block last year after using TurboTax for years, and I really liked them. Of course, now they want me to pay for some special edition so they can check if my mortgage interest/property taxes should be used instead of the standard deduction (spoiler, they won’t).

 

[Beer Me]

I don’t think it’s crazy to go the paper and pencil route. I did it forever. Now I use software just because it saves time. What used to be a few hours and a certain level of frustration now takes maybe an hour and everything gets filed electronically.

To me the convenience is worth something. The last couple of years I used freetaxusa which works fine and has fewer fees than TurboTax and H&R Block

 

[Heather07438]

So for the first time ever, I do not qualify for free filing (yea?). So I’m considering doing it... by hand. With the IRS Free Fillable Form.

I must be entertaining delusions of grandeur, right?

It just doesn’t seem all that out there. I know my filing status (married filing single- husband student loans reasons). No defendants. I’ve got one job in one state which does not have state taxes (compared to two in different states last year). I have interest and dividends, just like last year. I recharacterized an IRA from traditional to Roth, just like last year (my third year doing this). The only difference is we bought a house, but the mortgage interest would require an itemized deduction which would be far below the standard deduction (even with other itemized deductions). So that’s not even a factor.

I’m good at math. My husband is good at math (he teaches math, for goodness sake, and has done simple “tax math” in class). The only worry I have is through misunderstanding, and I literally just have some new numbers compared to last year. (Or the year before that...)

Plus, I don’t know, it seems like a fun challenge.

Has anyone else done their taxes by hand? Or, if you think I’ll regret this, do you have a software recommendation?


ETA: I’m not scared of software. I did it perfectly fine through (free) software for the past few years. I’m above the income limit for free software, so the debate is really do I need to pay $50+ for something that I could do by hand? And if I should use software, what should I use?

About 5 yrs ago I helped my SIL do her CRAZY taxes with exceptionally challenging details. What did I learn?

The free IRS number to call for help with questions was 100% on the ball. We called over 10 times with different questions. They knew their stuff and were very pleasant.

 

[Kestryl]

I don’t think it’s crazy to go the paper and pencil route. I did it forever. Now I use software just because it saves time. What used to be a few hours and a certain level of frustration now takes maybe an hour and everything gets filed electronically.

To me the convenience is worth something. The last couple of years I used freetaxusa which works fine and has fewer fees than TurboTax and H&R Block

I’ll look into them! The convenience is a positive. But now I’m intrigued by the challenge, ha.

About 5 yrs ago I helped my SIL do her CRAZY taxes with exceptionally challenging details. What did I learn?

The free IRS number to call for help with questions was 100% on the ball. We called over 10 times with different questions. They knew their stuff and were very pleasant.

That’s good to know! Why not go directly to the IRS if you have questions? Seems easy to me!

 

[disneedee]

i have used tax hawk for years. mine is a simple tax claim but their website says fed filing is free for advanced or simple returns. they do charge $12.95 for state filing.

 

[GaSleepingBeautyFan]

I used to do ours by hand when we first got married. It was easy. So go for it!

 

[GusGus16]

Free fillable forms are easy to use, I have used them for a handful of years. Slightly more complicated last year because they changed the forms but overall you can refer to the tax instruction guide which should answer most questions. Sounds like you should be able to use your forms from last year as a guide. Biggest challenge is ensuring you have any special forms as it won't guide you to add any additional forms. Free fillable forms does do some of the calculating for you. Maybe try free fillable forms and if you get overwhelmed or can't figure it out get one of the programs.

 

[bluehen]

Go for it.

Especially if your taxes are similar to last years only with bigger numbers just use last years as a template. After that it should all be addition and subtraction.

 

[Heather07438]

Sounds like you should be able to use your forms from last year as a guide.

Oh yeah, that's a good idea. It'll help with which forms you need too.

 

[tzolkin]

I thought most of the online ones have a free version. I know you said it's prompting you to do the paid/deluxe version, but if you know you're not going to itemize or have credits or rental income you should still be able to just use the free one.

Also, I'm not sure how they still work because I always e-file, but I know in the past it would let you get all the way to the end and if you wanted you could just copy all the completed information onto a paper form and submit it that way rather than paying and having it processed online. So you may be able to use the assistance of an online program to walk you through the paper forms if that would make you more comfortable.

That said, I used to do my parents' taxes on paper when I was in HS and college (was the easiest way for me to make sure it was done and have the info in a timely manner for doing my FAFSA). It's really not that complicated, so I think you would be fine. Especially since you are an adult, good at math, and have filed taxes before.

 

[first*toright]

Aside from the ease of efiling, absolutely no reason not to do it by hand, if you're just doing the 1040 and one state return. I wish ours were still simple enough to do by hand - I use turbo tax because it tracks depreciation for our businesses (small, but need to do a Sch C for each one), and does all the HSA, child tax credit etc. nonsense that makes ours a little complicated. I resent paying for the software, but it would take way too long for me to do all the different forms, plus 2 state returns (DH has a side gig in another state). The software definitely saves me time, but I don't think you'd need to invest too much time, esp. if you set yourself up with an excel schedule with all the components so you can make sure the calculation is working right.

 

[miztressuz]

I've done by hand and with software. I'm using TaxHawk currently. Free for federal e-filing, no AGI limits and also includes small business and rental property income. You'd pay if you want audit support or to do your state filing.

If you have a template to reference, doing by hand with the fillable forms is a good learning experience. I didn't find it much different time wise when I was doing by hand. But I like the sanity check of the software doing a calculation so I don't typo or something so I started using TaxHawk a few years ago. Used TurboTax, H&R Block online, TaxAct, and probably someone else before. Each has their quirks but if you have a good idea of the actual forms it's easy to spot a discrepancy and figure out how to fix it. Or at least spot something wonky and call support.