Doing TAXES for the 1st Time - Page 3

Well that's true. They can get a bit tricky depending on your situation. It was a bit more complicated for me this year since I have a business in my name that has earned income. The business has paid me a base salary and we've elected to reinvest the remaining profits as retained earnings.

Also, my firm had me work in 3 different states last year: MA, CT, and NY. REALLY GLAD I HAD TO SPEND 90 DOLLARS TO FILE 3 SEPARATE STATE RETURNS.

As a side note, I would like to take this time to thank you for providing this service (via your other thread) to us DREAMers. It really is greatly appreciated.

Yes they can! That's why there's nothing wrong if one decides to go to a VITA site, local accountant/CPA. Dang that does sound complicated but I'm sure you were able to figure out since you're a smart fellow!

Omg 3 state returns?! I dislike state returns... cause I'm from TX and well I guess I just wish they didn't exist not because I think they're hard because they are fairly simple ( at least to me) but just cause I'm from TX and here we don't have to do that.

Aw thank you! I'm trying and I love being able to help in any way I can especially my fellow dreamers/undocumented peeps.

I was thinking of adding some Itemized Deductions/Schedule A info but not sure if anyone is interested in that.

TurboTax covers most people fairly well. If you have complex tax paying, turbo tax pro is a thing too.

Why such a fan of dreamers? Lol, I don't get it. I mean as cool as some Dreamers can be, Dreamers don't need their own version of turbo tax lol.

And I was asking for my knowledge msaccountant -- I just got my w-2 lol. I will have to go nag him soon with this bs. especially since I'm moving soon.

Circa, I had a weird question I'm sure it's been answered already but I'm not searching 300 pages of forums.

Am I able to collect profits from eTrade? It's obviously a for-shits-and-giggles thing, I throw some money at it, maybe ill see $10/yr earnings, you know? does DACA allow us to buy stocks, mutual funds lol....ETF?!?

That's something worth looking into I'd say.

Yeah you can. SSN and DL# is all you should need. I have a Roth IRA account at Fidelity.

You can setup a brokerage account with just an ITIN and a passport as well.

well do i have to do them this year ? i been doing taxes with my ITIN what should i do ? i havent found a job ( that doesnt pay cash) should i do taxes this year or wait ?

If you haven't received any documented income (payroll, 1099, dividends, capital gains, rental income, gains from selling a home, AMT, etc) then no, you do not need to file taxes.

thank you for you clear answer !