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At least it's not Death....

Finished my taxes!  Whooo!  Most complicated set of tax forms I've ever had to deal with.

The IRS wanted me to list each and every stock transaction I made in 2007, with the name of the stock and number of shares, date purchased, date sold, cost, sale price and profit/loss.  I did about 80 transactions last year!  I'd have had to fill out 4 or 5 Schedule D-1's.  Fortunately the instruction book says I can use a "statement" that provides similar information, and Gainskeeper was able to provide me with a PDF of all of last years sales.  I hope the IRS will accept it; it's got all the same data as the D-1 requires, though the columns are in slightly different order (dates then name, rather than name then dates).

So I had to fill out the 1040, and Schedules B and D.  No C or SE this year, since I didn't do any business activities this year.

I owe the IRS $250 and NE Dept of Revenue another $116.  Damn but Nebraska state income tax is BRUTAL.



Feb. 17th, 2008 07:12 pm (UTC)
I haven't done my own taxes since 1989. I have a kickass accountant who every year saves me more tax than he charges for his services. Last year he saved me at least 20x his $145 fee. He also has never taken longer than one afternoon to complete all my returns. So I save time, save aggravation, save money, and just breathe easier in general because I don't have to sweat the process at all. I realize I'm lucky, tho. I have heard some real horrorstories about tax preparers...