Self Employment Taxes

[Nolf-Job]

So this is the first year I'll be filing as an independent. I have W2 income from two different states (IN and OH). I also have about $3500 from 1099's for freelance work. I've been looking into TurboTax cause I figured taking it to someone would be even more expensive, and since I'm in grad school, it isn't like I'll be getting huge amounts back. this (http://turbotax.intuit.com/tax_products/learn_home_business.jhtml) appears to be what I think I need.

I've seen in other threads people mentioning that they've claimed deductions from computer parts if it was used for their work. Do you have to claim more than the standard deduction in order to do that? And if anyone has any general tips or personal experience, I'd greatly appreciate that as well.

[Leonardo]

You won't like my answer:

I don't have personal experience "filing as an independent", but I have used TurboTax and Kiplinger Tax Cut on quite a many occasions. The both have some provisions for your status, and have intuitive questions for you to answer. They also both have a reference section that can direct you to appropriate IRS code. Between that and research at the IRS site, you should (nothing is finite with the IRS), should be able to determine what and if something is deductible. There will be requirements such as perhaps that the computer's 'principle use' or 'main use' must be for the business. BTW, you can also file online directly with the IRS for free. You might want to try that.

Ugh, thanks for reminding me, I need to file this weekend. I'll probably end up owing money. (Investments nest egg has grown handsomely. Capital gains and interest income are all re-invested, but it's still taxable.)

[Crazy Joe]

w00t!! Just did my taxes and I am getting an $1814 refund!! Moving 1000 miles away for a job definitely helps that out!!

[Leonardo]

Just did my taxes and I am getting an $1814 refund!!Good!

Hmm, the government got an $1800 loan from you, interest free. Bad!