[Event] Ask the Experts: Finish & File

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Finish & File | Ask the Experts

Join us on Wednesday, April 8th any time between 9:00 am and 5:00 pm Pacific Time for our latest installment of our Ask the Experts event series. The tax filing deadline is quickly approaching. But don’t worry, our Experts are here to help you get to... read more

Form 2441, Part III, Line 18

Hi, I am certain that the turbotax Form 2441 calculations are incorrect.We are married filing jointly, with my earned income being $2,000 and my wife $60,000 (numbers are simplified for ease of calculation). We have one qualifying dependent so maximu... read more

Issue selecting depreciation method

I am using TurboTax Business Desktop to prepare an 1120S (not a first year business). The prior preparer set some assets up as S/L HY. Since this is the first year I am preparing the return in TurboTax Business I need to add the assets to the system.... read more

Final PTP K-1 in TurboTax: 1099-B, Section 1256, Box 20/199A, and disposition questions

Hi, I’m trying to correctly enter a Final K-1 for a publicly traded partnership (Icahn Enterprises LP / IEP) in TurboTax, and I want to make sure I’m not double counting anything. Here is my situation:I received a Final K-1 for Icahn Enterprises LP (... read more

Form 3250 Overseas cash gift from the sale of real property

If you receive as an example 300K gift/bequest, via wire transfer, from the sale of real property overseas, would Form 3520 be adequate alone. Must it be filed via paper? Thank you!

Sell property use as rental property and primary property

I bought a house in 2018, I have another house so I live half time in this house, but I never report this house as primary or secondary house in Turbotax. I list another house as my address in Turbotax, I assume that treat the other house as my prima... read more

I need to file a section 481(a) adjustment through form 3115 to account for prior years of not claiming depreciation of a rental property. Is this adjustment on Schedule 1 or on Schedule 3? Please help, I am using Turbotax Premier Desktop. Thanks is used

Split Mortgage Interest Deduction between head of household and single filer

Hello,My partner and I are on deed at Property A and we both paid for mortgage and property tax from a joint bank account.Mortgage is under my name, but property deed has both of our names.My partner supports parent (dependent) at Property B and fili... read more

Estimated tax payment for 1st qtr 2026.

Now that 1st qtr of 2026 is over, I know the actual earnings from all sources. How do I calculate if I need to pay est taxes for 1st qtr.? What tax rate should I use for 1st qtr only? The effective tax rate from my 2025 Turbotax forms? The vouchers t... read more

How to file a second return online

I bought Turbo Tax Premiere with Fed/State direct download at Amazon. When I went to download it, it said my computer isn't compatible so I'd have to use it online instead of the desktop version. I finished and filed my daughter's tax return with no ... read more

Self Employed HSA contribution

My wife contributes to her employer HSA and we have medical coverage through her employer. I'm self employed can I open up my own HSA and contribute to my own plan even though my medical coverage is through my wife.

Disallowed Wash Sale Lose how to report in Turbotax

I have a disallowed wash sale loss which shows as $0 on my 1099-B. In the same year I sold the same stock. Can I add the amount of the loss to the cost basis of the sale? Will it change my reported amount in Turbotax so the amount doesn't match my 10... read more

If your adult sister is paying you (also an adult) to babysit on a regular basis, is that income that needs to be reported or does the IRS consider that a gift from a family member?

I was not sure if it would be considered income. The sister who is paying is insisting on paying, but the babysitting would be done even if the sister could not afford to pay. Again, this is family. It is not being done for money, but it has ended up... read more

ESPP Exercise/Sell

Employee Stock Purchase Plan – Questions for 2026Might be useful for last-minute 2025 filers.Retirement in two months and there are still several in-the-money options as well as others that are underwater on the Exercise screen (NQ). There are multip... read more

Rental Property Expense Qualification

We own a home which our daughter lives in rent free. She has a room mate which pays rent. We report the rent as income and deduct any repair expenses on the house. My daughter pays for the electricity and internet on for the home. Can we deduct the c... read more