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Old 04-09-2012, 04:50 PM
 
22 posts, read 51,512 times
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I relocated to North Carolina from Texas. There are no state income taxes in Texas. Preparing the North Carolina state income tax return is a real hassle. On one line of the return it says to "enter the amount on this line, 'but not less that zero.' " "But not less than zero." WTF? What does not less than zero, mean? Would someone be so kind as to provide an example of what it means?

Thanks in advance.
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Old 04-09-2012, 04:56 PM
 
450 posts, read 1,388,593 times
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It means do not enter a negative number (i.e. numbers that are less than zero).

BTW, I usually just use tax preparing software (TurboTax, TaxAct, etc...) and it fills it all out for me. Very uncomplicated that way.
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Old 04-10-2012, 01:24 PM
 
Location: Raleigh, NC
10,389 posts, read 19,350,719 times
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Most of the time when it's a "less than zero", it's telling you to subtract one line from another and enter the difference, but if it is negative, just enter zero (or sometimes, put it on another line). There is no other way to get "less than zero" except by subtracting two lines--just read carefully what it is saying. Sometimes they try to make them so "brainless" to follow, they confuse everybody!
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Old 04-12-2012, 08:50 AM
 
106 posts, read 274,279 times
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It is totally worth it to use tax prep software. I have all kinds of accounts and 1099's and K-1's etc and it still only took me maybe 20 minutes to do federal AND state.
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Old 04-12-2012, 10:03 AM
 
3,271 posts, read 2,627,054 times
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Quote:
Originally Posted by Recip View Post
It is totally worth it to use tax prep software. I have all kinds of accounts and 1099's and K-1's etc and it still only took me maybe 20 minutes to do federal AND state.
Unless you're part of the Bailey settlement, which none of the prep software covers. That's potentially thousands of dollars right there.
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Old 04-12-2012, 07:32 PM
 
Location: Fayetteville, NC
1,490 posts, read 5,216,405 times
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Quote:
Originally Posted by box_of_zip_disks View Post
Unless you're part of the Bailey settlement, which none of the prep software covers. That's potentially thousands of dollars right there.
Turbo tax asked me about the Bailey act. I have have not finished by return yet so I'll double check that it really will exclude my Military Retirement.
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