Do my taxes sound about right?

F

fika

I live in California and made about 90k at my job. I made 13,000 in my taxable trading accounts this year. Additionally, I set my payroll to be at '3'. My Turbo Tax shows I owe $5400.

Does this figure sound roughly correct? This is the most I made trading in a single year and am wondering if I should see an accountant...
 
fika said:
I live in California and made about 90k at my job. I made 13,000 in my taxable trading accounts this year.
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I don't want to deviate from the thread topic -- but that 13,000...percentage-wise, what return is that in your trading account? o_O
 
fika said:
I live in California and made about 90k at my job. I made 13,000 in my taxable trading accounts this year. Additionally, I set my payroll to be at '3'. My Turbo Tax shows I owe $5400.

Does this figure sound roughly correct? This is the most I made trading in a single year and am wondering if I should see an accountant...
More...

$5400? that must be a typo and you meant to write $54000

there's no way you're paying a 5% tax rate in commiefornia
 
i960 said:
He said he owes that much - meaning in deficit of, not total.
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Yes, I owe on top of what I already pay in income taxes. It seems about right unfortunately. I'm looking for another opinion before I go runoff to a CPA which I would rather not.
 
fika said:
I live in California and made about 90k at my job. I made 13,000 in my taxable trading accounts this year. Additionally, I set my payroll to be at '3'. My Turbo Tax shows I owe $5400.

Does this figure sound roughly correct? This is the most I made trading in a single year and am wondering if I should see an accountant...
More...
Depends on a lot of situations...are you married or single? How many dependents. Do you itemize your deductions or take the standard? What products are you trading? Seems a bit high to me but I just don't know the situation.
 
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