Filing for My tax return..?
Please help... I was using turbo tax. I live in colorado, but i get a form from CALPERS (california Public employees retirement system) because my father passed. When i started to file on turbo tax it says in federal taxes i would get 370 dollars back, but then it says in CO state taxes that i owed 743 dollars. I DONT PAY STATE TAX What do i do PLEASE HELP
Public Comments
- You have left some questions unanswered. For example, why do you not pay state tax? CO does have a state income tax and if you are a resident of same then you are subject to tax. Assuming you are then perhaps the $743 tax can be reduced. Did you, by chance, receive a W-2 for your work in CO and, if so, did it have state withholding that you didn't post in Turbo Tax? Or, was there state withholding from other sources of income? And, have you told Turbo Tax that you are potentially subject to tax in CA? Looking again at your question I see another possibility. If the CALPERS income is your only source of income then you could be subject to tax in CA and CO. In CA because that's where the money came from and in CO because that's where you live. However, the CO tax could be reduced or eliminated because of the tax you will pay in CA. Sorry I couldn't be of more help. Your situation sounds like you need some face time with someone familiar with CO (and CA) tax law that you can explain your whole situation to and answer any questions they may have during your meeting. A visit to a CPA, H & R Block, or some such is probably in order. P.S. Good luck with your 1st born!
