Filing First Time

[SH1998]

Hello,

I had some questions about filing my taxes for the first time. Long complicated story but I got the go ahead to file my taxes separate from my parents so I was going to file for the first time. I have worked the years 2021, 2022, and now 2023. I need to file for all of these years. 

-Does it matter the order I file? (Do i have to do 2021 first or can i do 2022 since i know where that W2 is)

-Do i have to file extensions since I am very late in filing for these years?

-Is it ok to still file if my parents still claim me as a dependent on their taxes for 2021?

-If I am paying off a student loan that is in my mom’s name, is there anything I have to/should do for tax purposes?

Im sorry for all they questions. I’ve never done this before and I don’t have anyone to ask. I want to do it right. I appreciate the help.

-SH

[xmasbaby0]

You are too late to request extensions for any of those returns.

If you are getting a refund, there is not a penalty for filing past the deadline.  If you owe taxes, the interest/penalties will be calculated by the IRS based on how much you owe and when they receive your return and payment. The IRS will bill you for this; it will not be calculated by TurboTax.

Online preparation and e-filing for 2019 and 2020 and 2021 is permanently closed.

To file a return for a prior tax year

 If you need to prepare a return for 2019, 2020 or 2021 you can purchase and download desktop software to do it, then print, sign,  and mail the return(s)

https://turbotax.intuit.com/personal-taxes/past-years-products/

You may also want to explore purchasing the software from various retailers such as Amazon, Costco, Best Buy, Walmart, Sam’s, etc.

Remember to prepare your state return as well—if you live in a state that has a state income tax.

https://ttlc.intuit.com/community/state-taxes/help/how-do-i-contact-my-state-department-of-revenue/0... 

When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s.  Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS/state received the return.

Federal and state returns must be in separate envelopes and they are mailed to different addresses.  Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.

Note:  The desktop software you need to prepare the prior year return must be installed/downloaded to a full PC or Mac.  It cannot be used on a mobile device.

If you are getting a refund, there is not a penalty for filing past the deadline.  If you owe taxes, the interest/penalties will be calculated by the IRS based on how much you owe and when they receive your return and payment. The IRS will bill you for this; it will not be calculated by TurboTax.

CAN I FILE A RETURN IF I AM A DEPENDENT?

If you can be claimed as a dependent on your parents’ return, you can still file your own return so that you can receive a refund of taxes withheld.  (You will not get back anything for Social Security or Medicare withheld.) Be sure that on your own return you say that you can be claimed as a dependent on someone else’s return.

https://ttlc.intuit.com/community/children-dependents/help/do-i-need-to-file-my-own-taxes-if-i-m-a-d...

Even if you are paying the student loan, only the person whose name is on the loan can use the interest as a tax deduction.  And....dependents cannot get education credits, so there are two reasons why you do not enter anything about the student loan on your own return.

[SH1998]

Ok. Do I have to submit them in a specific order?

Also if I was in college for 2020 and 2021 and had expenses like a grant, loan (in my name), tuition payments (made by someone else) do I have to anything for that?

Do i need to file an extension for 2022? And if so how do i do that?

[xmasbaby0]

"can i do 2022 since i know where that W2 is) '

Sure go ahead and prepare 2022.   You have until mid-October to use online TurboTax and e-file it.  After the October deadline, online and e-filing will close down, and then you would have to purchase the desktop software and file by mail.

https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-a-w-2-form/L6VJbqWl5

Don't have your past year W-2's?

 W-2's come from employers.  There is not a federal or national website that provides W-2’s.

You might need to phone, drop in, email and/or snail mail an old employer to make sure they know where to send your W-2.

https://ttlc.intuit.com/questions/2561916-how-can-i-get-a-copy-of-my-w-2

You can get a wage and income transcript from the IRS:  It will not show the actual W-2, 1099’s, etc, but will show the income information the IRS received.  It will not, however, show your state information. It will only show the federal information.

https://www.irs.gov/individuals/get-transcript

Other ways to get W-2’s:

Pay Social Security $126 per W-2:

https://faq.ssa.gov/en-US/Topic/article/KA-02501

https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-a-w-2-form/L6VJbqWl5

[Terri_G · Accepted solution]

Thank you for your question and congratulations on filing your tax returns for the first time.  The order you file your 2021 and 2022 taxes does not matter.  It will be easier to file your 2022 tax return first as you have your w-2 handy and you are able to efile your return until October 16, 2023.  You can file your 2022 tax return using the online program.  To file your 2021 tax return, you will need to purchase and download the 2021 desktop program to your computer and print your 2021 return to file by mail.

Extensions for your tax returns are due on the due date of your tax return usually, April 15.  You can no longer file extensions but you still can and should file your tax returns.

You can file your own separate tax return for 2021 even though your parents claimed you as a dependent.  As you complete the personal information section of your return, there will be 2 questions "Can someone claim you as a dependent? And Did someone claim you as a dependent?" You will answer yes to both questions.

If your mother is the only person named as the responsible party on the student loan, you will not be able to claim the deduction for student loan interest on that loan.