Small Business, Farm & Startup Tax Forum

Business & farm

Easily File 1099-NEC or W-2 Forms: Quick Employer Forms (QEF)

Did you pay someone to help with your business? If so, you might need to file a W-2 form for an employee or a Form 1099-NEC for contracted help. If you have bona fide W-2 employees, you’re probably already withholding taxes and you know those W-2 for... read more

Vehicle Deductions: All You Need to Know!

Do you want to drive away with massive vehicle tax deductions? Before you race to the tax-filing finish line, there are things you need to know to ensure that tax win! While vehicle deductions can be huge, there’s a great responsibility to thoroughly... read more

Self-Employed: Don’t Miss These Tax Moves!

You don’t know what you don’t know! For example, did you know that many self-employed taxpayers qualify for a health insurance tax deduction? Or did you know that if you don’t file the proper forms for employers and contractors (on time), the IRS cou... read more

Quick Links for Self-employed & Gig Workers!

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

I received a NYS IT-204-IP. In Partners Credit information, Part 2, there is a code 256 with an amount. It won't fill in the correct section on IT-256. Thoughts?

TurboTax only allows me to fill in Part 1 of IT-256 as opposed to Part 2 which is where this info goes from pass thru activities. Any insight how to make this flow correctly?

Financial Planner 401k Management Fees

I understand the IRA fees are not deductible but we provide a 401k and are switching to a CFP who charges a quarterly fee to manage. Is this fee deductible from our 1120S tax form?

Help with 8822 form questions?

I have questions related to 8822. my mom is newly deceased and I am her executor court appointed due to probate. Do I mark one and two? Line 3B is at my Social Security number or hers.

Can you check if completed the company taxes 2023 with Turbo Tax? Those were the last ones

I am not using turbo tax to file this year, however I need my depreciation schedule from 2023. How can I access that?

where do i enter the purchase of a 6000+ lb SUV for my business? The "Assets" section under Biz Income & Expenses does not have a category for vehicles?

I invested $50,000 in 2021 as a limited partner. In 2024, the partnership was dissolved and I sold my interest for $1. How do I report the regular and AMT loss?

Can i file my 2023 business taxes here on turbotax business? It would be my first year filing. Business began end of july 2023

Trying to understand why my K-1 Form 1065 Line 5 Interest Earned amounts are being transferred to my schedule B and why they are not being offset by my passive losses.

I have two K-1s, with ~$3,500 and $1,270 in Line 5 interest earned amounts. I understand that in general amounts over $1500 get reported on Schedule B, but I'm also sitting on $90,000 in passive carryforward losses that I would have thought would off... read more

Turbotax Business 2024 is creating corrupted files, and support tells me they can't help me.

This past March I purchased TurboTax business 2024 from Costco and did my estate tax 1041 return. Everything was fine then. This past week I now need to create a final return and close out the estate. I launched the program and it initially doesn't r... read more

Enter 8978 total on 1040 line 16

I understand Turbo Tax doesn’t support form 8978. I have downloaded and completed the form and wish to include it on line 16 by selecting the check box and carrying the amount over manually but TT desktop for Mac 2024 doesn’t allow this. Override is ... read more