Wednesday, April 6

Tax madness!

Ever since I turned 18, my parents have taken care of my taxes for me. "Just give us your W-2," they said, "and we'll let our accountant take care of it." (And, of course, they were able to claim me as a dependent.)

Now I'm 23 and living on my own, and my parents seem to think it will be a character-building exercise to file my own tax return. Oh, joy.

Actually, I'm kind of having fun with it (although it is supremely irritating to get halfway through the 1040A form, only to discover that I actually have to file the much-more-complicated 1040). If I can do this, I'll be extraordinarily proud of myself. ("There's Kelly Hudson," the people will whisper as I pass by. "She can re-fold a road map, program the VCR, and do her own taxes!") And if I don't do them myself this year, I'll never be able to do it - my funds ain't gettin' any less complicated.

I've also learned that doing your own taxes is also a great incentive to either:
a) learn more about your investments/sources of income, so you'll be less confused about them next year; or
b) get rid of anything more complicated than a savings account so that you can file the 1040-EZ form.

So far I've calculated my gross taxable income, and now I have to use the Qualified Dividends and Capital Gains Distribution worksheet to figure out my tax.

If I get audited, I'm going to see it as a "learning experience." But wish me luck anyway. :)

2 Comments:

At 3:17 AM, Anonymous said...

Ha, Kelly's got to be a grown up. See, that's why you keep going to grad school. You don't gotta do squat.

Hey Kelly, write me some time. It's lonely in the NYC without goofy OSU goodness from the Kelly. So sad.

 
At 9:07 PM, Kelly said...

Hi, Toddington! I hope your roommate has stopped snoring. :)

 

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