Fear Strikes Out
- Date posted
- 5y
phoenix76phoenix76
- Date posted
- 5y
Yes, taxes are so complicated, and I’m really really struggling. It’s my worse fear, I guess audits rates are relatively low, and I use TurboTax, but I’m constantly in fear that I’m being tracked somehow. It’s crippling
Fear Strikes OutFear Strikes...
- Date posted
- 5y
A lot of the emotional burden would be eased if we only had to multiply our earned income by a specific tax rate and be done with it, But, even then, our OCD would probaby attach itself in some way (e.g., did I use the correct income and/or multiply by the right percentage rate...better check the math 20 times).
phoenix76phoenix76
- Date posted
- 5y
I’m almost done with taxes but have a few different situations this year (sold a house and a car used for business) and it’s driving me nuts. I’m sat here doing compulsions (google searches) about tax audits. I just have to knuckle down and do it. Add to this that I’m terrible with numbers. I wish the tax system was easier. I will submit taxes and then be in fear of an audit, however unlikely that is. :(
Fear Strikes OutFear Strikes...
- Date posted
- 5y
Do you use a tax software?
Fear Strikes OutFear Strikes...
- Date posted
- 5y
@Fear Strikes Out I used to hate doing my taxes because of my perfectionism and hyper-responsibilty regarding inadvertently under-calculating my taxes (becoming a convicted tax cheat, going to federal prison, being a felon, etc.). Once I finally accepted uncertainty by learning ERP, it has become a much less emotionally exhausting experience.
phoenix76phoenix76
- Date posted
- 5y
@Fear Strikes Out Yes, turbo tax but now I’m faced with two complicated issues and I can’t figure it out and it’s sending me into a panic. I asked for a call back from turbo tax expert. But I’m really scared Th at if I don’t do this right then the tax man will come after me. I’m so scared right now
Fear Strikes OutFear Strikes...
- Date posted
- 5y
What specifically is the tax issue? I know one pertains to your house sale and the other to the new car sale?
phoenix76phoenix76
- Date posted
- 5y
Well, we sold our house for profit, but it call all be excluded, but we need to report it because we used part of the house for home office and so we need to give back a portion of the depreciation that we claimed over a 10 year period. I don’t have all the records from the original purchase, trying to find them, I have some but not all. So I cant be accurate. This wouldn’t be a problem if we didn’t have a home office. With the truck we sold, I don’t j ow how to do depreciation. And AMT?? I just don’t have a clue. I’m a nervous wreck.
phoenix76phoenix76
- Date posted
- 5y
^the sale profit is excluded
phoenix76phoenix76
- Date posted
- 5y
I’m so afraid of messing up and the IRS finding mistake and audits and then asking for all our tax returns and then going to jail. Gues I’m looking for reassurance
Fear Strikes OutFear Strikes...
- Date posted
- 5y
I probably should not have asked you the specifics since I am not a tax expert nor have I been in that situation regarding the sale of a house, partly used as a home office, and the depreciation part. Did TurboTax call you back yet?
phoenix76phoenix76
- Date posted
- 5y
I filed an extension and put a call in to 2 different CPAs, pairs what I think we owe and now I have extra time. Of course, now OCD says if I let a CPA look at our return and if they find mistakes they will look back at all our returns and find mistakes (which probably there are because we don’t know everything because we’re not tax experts) and report us.
phoenix76phoenix76
- Date posted
- 5y
^paid what I think we owe
Fear Strikes OutFear Strikes...
- Date posted
- 5y
I was kind of thinking that an extension in this situation might be in order. Good decision! Doesn't OCD have a lot of imagination? It can convince a person that one's CPA, who is probably swimming in tax return paperwork right now, would even have the fleeting thought about reviewing a client's previous years' returns because they found a mistake on the current one. But, yet OCD is always busy spinning these conspiracy tales in our heads. Very devious that OCD can be for the OCD sufferer.
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