Perfect! So helpful Jerry, thanks so much for your suggestions,
not feeling so intimidated by this now. Thanks again,
sharry
-----Original Message-----
>From: Jerry Gmail <jhnidy@gmail.com>
>Sent: Aug 15, 2011 7:50 PM
>To: DoIt_Yourself@yahoogroups.com
>Subject: RE: [DIY] Off Topic 2011 Estimated Tax and TurboTax Any how to tips?
>
>Turbo tax will do all that you want it to. It is not that hard to just put in the numbers from last year by hand. If you had stock sales last year, you should have a 2010 schedule d to go by also.
>
>Google Jer
>Woodhaven, Mi
>
>
>-----Original Message-----
>From: DoIt_Yourself@yahoogroups.com [mailto:DoIt_Yourself@yahoogroups.com] On Behalf Of Sharry Dunn
>Sent: Monday, August 15, 2011 10:33 PM
>To: DoIt_Yourself@yahoogroups.com
>Subject: RE: [DIY] Off Topic 2011 Estimated Tax and TurboTax Any how to tips?
>
>yes, I have the dates for buy/sells so I can compute the long term gains; you are correct, still treat short term differently i think. Sched D - wow, didn't want to get into that too.
>
>I'm thinking (hoping) i can try to import the 2010 return from the pdf I have from CPA, then save with new file name and update all the cap gains info with current sales and current income such that it is and this should give me a new "potential 2011 return" if that makes sense. i've just never used TurboTax and not familar with how it works. Many folks swear by it, but I fear the learning curve - LOL.
>
>Thanks for the tips and I think what you are doing is great, more or less what I want to do, except I want it to calculate estimated tax payments if any.
>
>cheers, sharry
>
>-----Original Message-----
>>From: Jerry Gmail <jhnidy@gmail.com>
>>Sent: Aug 15, 2011 6:45 PM
>>To: DoIt_Yourself@yahoogroups.com
>>Subject: RE: [DIY] Off Topic 2011 Estimated Tax and TurboTax Any how to tips?
>>
>>I forgot to mention that you should also get a good feel for what kind of trouble you are in when you finish your schedule d. This is something that you will have to do no matter what else happens so you might as well polish it off right now. I think that long term gains are still treated differently than the short ones so you will have to know when you bought all the stocks. And if these came out of an IRA and you are not as old as I am you may find more trouble than you bargained for.
>>
>>Google Jer
>>Woodhaven, Mi
>>
>>
>>-----Original Message-----
>>From: DoIt_Yourself@yahoogroups.com [mailto:DoIt_Yourself@yahoogroups.com] On Behalf Of Sharry Dunn
>>Sent: Monday, August 15, 2011 9:25 PM
>>To: DoIt_Yourself@yahoogroups.com
>>Subject: RE: [DIY] Off Topic 2011 Estimated Tax and TurboTax Any how to tips?
>>
>>I don't have a job, thus no withholding; my last job the store was closed and was not able to find a job after that. Sort of forced into retirement for now, before I'm ready, but there it is.
>>
>>Oh yeah I'd love to skip the heart ache, it's a pain in the tush to try to figure it out, took me hrs for the June payment and finally determined I didn't owe anything, however now I have the stock proceeds and it may push it over the top- so I hoped using Turbo Tax would simplify it.
>>
>>Thanks Jerry,
>>sharry
>>
>>-----Original Message-----
>>>From: Jerry Gmail <jhnidy@gmail.com>
>>>Sent: Aug 15, 2011 8:56 PM
>>>To: DoIt_Yourself@yahoogroups.com
>>>Subject: RE: [DIY] Off Topic 2011 Estimated Tax and TurboTax Any how to tips?
>>>
>>>Are you sure you need to pay these taxes? You can owe A LOT of tax and not have to pay any penalties as long as you have withheld your tax liability from last year.
>>>
>>>
>>>
>>>In other words, if your total tax bill last year was 5000 dollars and this year you withheld 5000 dollars from your pay, you can "owe" 10000 dollars in taxes for your 2011 return and not be penalized.
>>>
>>>Why go through all this heartache if you don't have to?
>>>
>>>
>>>
>>>If you can increase your payroll withholding amounts so that you withhold your total tax bill – not the taxes owed but the total tax bill – the government will leave you alone.
>>>
>>>
>>>
>>>Google Jer
>>>
>>>Woodhaven, Mi
>>>
>>>
>>>
>>>From: DoIt_Yourself@yahoogroups.com [mailto:DoIt_Yourself@yahoogroups.com] On Behalf Of Sharry Dunn
>>>Sent: Monday, August 15, 2011 8:11 PM
>>>To: DoIt_Yourself@yahoogroups.com
>>>Cc: Sharry Dunn
>>>Subject: [DIY] Off Topic 2011 Estimated Tax and TurboTax Any how to tips?
>>>
>>>
>>>
>>>
>>>Good afternoon, I know this is off topic, but not sure if acceptable to post this type of question. Apologies if this is not appropriate question here.
>>>
>>>I sold a few stocks last week and may need to pay estimated taxes and wanted to do this without going to CPA. I have never used Turbo tax but thought it might make it easy to figure out the estimated taxes if any are due. I recently bought TurboTax 2010 on eBay, but not sure what steps I need to follow to determine if I have 2011 Estimated tax payment due for Sept 15th.
>>>
>>>I have a pdf file from the cpa for 2010 taxes which I may be able to import into TurboTax; don't know what steps to follow to use 2011 income and will Turbo Tax automatically figure out the Estimated payments? If anyone has suggestions or a quick HOW TO list of steps to follow, I'll appreciate it
>>>
>>>Thanks so much,
>>>
>>>sharry
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>
>>
>>
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