Business & farm

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*accounts

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The consent I’m speaking of is the first one on the page. The consent with TurboTax not Intuit. I signed thinking it was required form mainly bc there were no options to decline or skip or move forward. It made it appear that without my signature on this I could not file my taxes. But once I saw there wasn’t an option on the intuit data sharing I realized I had made a mistake. And started looking for ways to fix. None of the answers I found online either do not work or send me in wrong direction. Please advise if possible! Again I’m looking to unsign or remove my consent to share data with TurboTax or any with anyone!!! Thank you

why isnt Tn listed in the drop down box for box 15

live person

I am preparing the third year tax return for an S Corp.  A vehicle was placed in service 1/1/23 and 80% Sec 179 expense was taken in 23.  I've entered all the historical data into the asset worksheet.  Unfortunately, TT calculates $0 for current year depreciation and the Asset Life History page show depreciation ending in 2032 with that schedule based on the full purchase price of the vehicle not the adjusted basis after the 179 taken in 2023. I update TT this morning, but this error remains consistent from when I first created the tax return in March.  

I have about 12 K1s from real estate investments. The rental activity nets to a loss. Turbo tax is taking that against my other income. They are passive losses so that is incorrect. Turbo tax no longer has the question do I participate materially so that it would know to limit my losses to my income and carryover the rest. They are not flowing through to a schedule E and therefore not to a form 8582.  I have put all the income and losses for each investment into line 2. I even had a Turbotax Expert on the phone for an hour and they can't figure it out. 

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If the Partnership is in CA but the partner resides in NM, does the partner have to file in both states?

how do you file an accuracy claim?

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The schedule C is missing the amount earned after I have already submitted the taxes

I opened a furniture store

where do I put COGS section

I am suing my partners on behalf of the firm for breach of fiduciary duty and am not being reimbursed legal fees - I was told that goes on Schedule E part 2 line 28(i), but i cannot figure out where to put the information in the guidance system and if I override, it wont let me electronically file.

I have a two-member LLC with my wife that is taxed as an S-Corp. The business had a loss for the year, but my wife was passive for the first 9 months of the year and active for the last three months of the year. Can she still claim the loss against her W2 income she received while passive?

I have an LLC, and I leased a car that is used entirely for business. I paid the lease payments with my personal funds instead of from the LLC bank account. Can I still deduct the lease payments? Is there anything I can do now to make the situation cleaner?

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I am a 1099-NEC worker. I am contracted under one business and usually work between 20-30 hours per week. I'm not sure how to answer the yes or no statement "I didn't actively participate in the operation of this business." I definitely worked more than 500 hours, but does being an active participant in the operation mean that I am choosing how to run the business? Or is it more of a general thing? How should I answer this?

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