I've got a couple of questions about the IRS E-File. I got a Form 1098-T from school so I can file for the money I received in grants. On the E-file site this is only an option for a 1099-R form. Does this mean I cannot e-file or do I just skip this form and mail it in? Also some of my W-2s have different addresses (my main employer has a PO Box that I've long since closed; just haven't updated) and the other one has my address at the apartment I'm living at now. Should I just put my permanent address (my parent's address) or just copy everything verbatim from the forms?

3/6/2009 7:53:51 PM

use Turbotax. you don't have to think.

3/6/2009 7:56:06 PM

you shouldn't need to mail in a 1098-t

i think there's a worksheet you need to fill out

3/6/2009 7:56:25 PM

Evan is correct. You don't have to mail in a 1098-T.

I recommend http://www.taxact.com I did my federal and state taxes and filed them electronically all for less than $20.

3/6/2009 9:16:35 PM

^^^I concur. I have used them for years. only 20 bucks plus you can do others and make money if you like

3/8/2009 9:01:13 AM

Quote :

"I got a Form 1098-T from school so I can file for the money I received in grants."

What?

There are a couple key boxes in the 1098-T. Box 1 shows the amount you paid for tuition and fees. Box 2 shows amount billed for tuition and fees. Box 4 shows the amount of scholarships and grants that you received. Most of the time the only boxes with any information are 2 and 4. Before you can figure any credit/deduction based on the tuition and fees you were billed you must reduce box 2 by the amount of scholarships/grants received (box 4).

For example, lets say you are a freshman who is not claimed by their parents. In 2009 you were billed $8000 for tuition and fees and you receieved $7500 in scholarships and grants. You would use $500 to figure out your tuition and fees deduction or credit.

3/8/2009 10:16:37 PM

I feel I must have made a mistake. My state-income taxes came to about 74% of my federal income taxes. I always figured federal taxes were substantially larger than state income taxes since the state gets sales taxes too.

So, just on this one figure, does this sound right to everyone?

3/9/2009 12:48:20 AM

^not including FICA related stuff which falls under federal and would make this even more skewed towards federal, my state taxes were like 32% of my federal if that helps at all /shrug

3/9/2009 7:41:07 AM

Quote :

"I concur. I have used them for years. only 20 bucks plus you can do others and make money if you like "

Not if you are using Turbotax Freedom Edition Online, then its free. Unless you make over 30,000 which I doubt any college students are.

3/9/2009 7:55:24 AM

A good rule of thumb for NC is that you pay about 7% in income taxes on adjusted gross income. If you earn alot of money (over $100,000) its closer to 8%. If you have lower income (less than $20,000) you will generally pay more in NC income taxes than federal income tax.

These are very general statements and dont apply to everyone.

3/9/2009 10:34:53 PM