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Having a business is both exciting and rewarding! But it can be confusing if you don’t know what it means for your tax returns. Whether you’re starting off and plan to conquer the world with your new business, have a side gig for a little extra cash,... read more
Employee Tax Expert KarenL ‎Posted February 15, 2024
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How do I bypass this? I am clicking "Comfortable with my own return" but it directs me to buy a package. Ill go elsewhere if this is the only option.
ryanpmservices ‎Posted yesterday
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I did get some notice that I maxed out the federal $10,000 amount for itemized deductions. I've never seen that before and not sure what it means.
guerralisa18-gma ‎Posted yesterday
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We are in a partnership with property in another state. Last year, we spent 9 months working on those properties and living in an RV. Is there a limit on the number of days of per diem for "Meals & Incidental Expenses" that can be charged as business... read more
gdndns ‎Posted yesterday
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I received a one-time permanent utility easement and takings settlement payment from a utility company for their construction of power lines across farmland owned and occupied by my father as a life estate, with my brother and I as the fee simple own... read more
law56 ‎Posted yesterday | Latest post yesterday by SharonD007
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Code AJ is for "Aggregate Business Activity Total Deductions". Turbotax seems to be struggling with form as it was held up for filing until now. Then it was held up again due to a problem with K-1 line 20 code AJ. Now that is fixed but it seems that ... read more
Dibert ‎Posted a week ago | Latest post yesterday by Dibert
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When ending a business (unincorporated sole proprietorship with no employees or inventory), do we need to do anything other than check the box "I sold (or disposed of) my business in 2023"? For the question "did you dispose of the business in either ... read more
waveromper ‎Posted yesterday
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PKRetiree ‎Posted yesterday | Latest post yesterday by ee-ea
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Scenario: For ease, here are simple facts. Home purchased by married spouses in California in 1997 for 500,000 (community property). One spouse died in 2019 and FMV of home (based on appraisal) was $1,000,000. Surviving spouse sells home in 2023.Publ... read more
senior1700 ‎Posted yesterday
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First off, thank you for taking some of your valuable time to read and reply! I am a first time filer and I have already filed for my 1120S extension. Now, I am trying to understand the difference between Turbotax Business Desktop ($190) and Turbotax... read more
astracastra ‎Posted yesterday | Latest post yesterday by RobertB4444
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I agree with the previous comment. When can we expect Turbo Tax to upgrade their K-1 submission button. Mine is darkened out for 2024
swillnerwa ‎Posted February 13, 2024 | Latest post yesterday by proutyc7
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There must be an error in the program. Error Schedule C car and truck expenses worksheet - Special Depreciation allowance too large. It cannot exceed 30% of eligible basis
MMP4851 ‎Posted yesterday
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I contact Turbotax before purchasing the Home and Business desktop version and explained that I am a sole-member LLC with S-corp tax treatment, and that my accountant already filed my business taxes (K-1 / 1120S). It was recommended that I purchase t... read more
Avidtaxprep ‎Posted yesterday
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