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Saturday
I was on the phone with them, the first time the call dropped after an hour with a rep trying. Then another time over 1 hour and a half with a rep and his supervisor and no luck! I am considering sen...
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I was on the phone with them, the first time the call dropped after an hour with a rep trying. Then another time over 1 hour and a half with a rep and his supervisor and no luck! I am considering sending it via paper and mail. Was a mess for all this money i paid for the program home and business.
Saturday
I have tried making sure my billing address is exactly the same as what is on file with my credit card company on multiple credit cards all to no avail. How do I get this resolved so I can file my t...
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I have tried making sure my billing address is exactly the same as what is on file with my credit card company on multiple credit cards all to no avail. How do I get this resolved so I can file my taxes?
Saturday
When do I enter the bonus $6000 senior deduction
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Saturday
Maryland Form PV (Personal Tax Payment Vouchers) print out each year for us, but we have ignored these for years assuming they were "suggested payments" for the upcoming year (we pay what's due for t...
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Maryland Form PV (Personal Tax Payment Vouchers) print out each year for us, but we have ignored these for years assuming they were "suggested payments" for the upcoming year (we pay what's due for the current filing tax year via direct debit). Never had a problem. My son had the same forms print out last year and ignored them too. However, in January he received a bill from Maryland with penalties and interest from not making the 4 payments. So are the payments mandatory, or just suggestions? I'm so confused.
Saturday
I hate turbotax they does've live support. I want to upload a document and login does not let me.
Saturday
They will open up as soon as the release is complete. In the meantime you can use the information provided in your other post and added here for your convenience to get prepared for the sales entry. ...
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They will open up as soon as the release is complete. In the meantime you can use the information provided in your other post and added here for your convenience to get prepared for the sales entry. Be sure you signup for notification.
First I will place an example of how you prorate the selling price to each of the assets including the land.
For any asset, such as appliances, that really have no value because they are past the recovery period of five years you can use a zero.
Use the original cost of each asset listed on depreciation, add those together then divide each one by the combined total to find the percentage of the cost for each asset. Use that percentage times the sales price and sales expenses to find the selling price/sales expenses for each asset. If you want you can check the allocation of building and land in your county real estate tax office, on file now.
Example: Original Cost (of each asset on your depreciation schedule)
$10,000 Land = 13.33%
$50,000 House = 66.67%
$15,000 Improvements = 20%
$75,000 Total = 100%
Multiply each percentage times the sales price/sales expenses to arrive at each individual sales price/sales expense.
Passive Activity Loss Entry if applicable:
Assuming your passive losses were carried over each year, this will be a separate and identifiable entry which will carry to the Schedule E. The full remainder of passive loss carryover is used in the year of sale as an expense. This is combined with your overall rental gain or loss to your Form 1040.
When you are on the screen 'Do any of these situations apply to this property?' (Property Profile section), be sure to check the box under Carryovers.
See my notes below on entering the sales price/expenses for each asset inside the rental activity.
You need to dispose of the property by telling TurboTax how and when it was disposed of. Follow the instructions below.
Click on Search (upper right) > type schedule e > Enter > click Jump to .... link
Answer the questions and on under Rent and Royalty Summary, click Edit
Click Update to the right of Assets/Depreciation.
Do you want to go directly to your asset summary?, click Yes and Continue
Click Edit to the right of each asset to be disposed of
Go through several screens until you get to Tell Us More About This Rental Asset
Click on This item was sold……. And continue to answer the questions
You might also review information here for more details.
@joecheung58
Saturday
No, the 1095-A was not even required.
Saturday
No, what I ended up doing was using the online web version of turbo tax and had to almost re-do the whole thing, It was rejected as expected, then when I went to fix it, I followed all the steps abov...
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No, what I ended up doing was using the online web version of turbo tax and had to almost re-do the whole thing, It was rejected as expected, then when I went to fix it, I followed all the steps above and it worked. It didnt crash because it was not the APP. I have not had time to contact turbox directly but somoene should. I wonder if they monitor these queues?
Saturday
Can you clarify if you have a 1095-A on your list of forms to delete?
Saturday
Yes, it included a CA state tax return.
Saturday
Yes, you are correct. The depreciation, is not quite ready for Schedule E, is causing this experience. Give it some time because this is scheduled to be available after February 11th and the tech te...
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Yes, you are correct. The depreciation, is not quite ready for Schedule E, is causing this experience. Give it some time because this is scheduled to be available after February 11th and the tech team is working hard to get it out. When it's ready you can use the information provided below to help with your sale and current depreciation before the sale.
Use this link Sign up for email notification which will let you know when the depreciation/amortization will be ready to file for Schedule E.
First I will place an example of how you prorate the selling price to each of the assets including the land.
For any asset, such as appliances, that really have no value because they are past the recovery period of five years you can use a zero.
Use the original cost of each asset listed on depreciation, add those together then divide each one by the combined total to find the percentage of the cost for each asset. Use that percentage times the sales price and sales expenses to find the selling price/sales expenses for each asset. If you want you can check the allocation of building and land in your county real estate tax office, on file now.
Example: Original Cost (of each asset on your depreciation schedule)
$10,000 Land = 13.33%
$50,000 House = 66.67%
$15,000 Improvements = 20%
$75,000 Total = 100%
Multiply each percentage times the sales price/sales expenses to arrive at each individual sales price/sales expense.
Passive Activity Loss Entry if applicable:
Assuming your passive losses were carried over each year, this will be a separate and identifiable entry which will carry to the Schedule E. The full remainder of passive loss carryover is used in the year of sale as an expense. This is combined with your overall rental gain or loss to your Form 1040.
When you are on the screen 'Do any of these situations apply to this property?' (Property Profile section), be sure to check the box under Carryovers.
See my notes below on entering the sales price/expenses for each asset inside the rental activity.
You need to dispose of the property by telling TurboTax how and when it was disposed of. Follow the instructions below.
Click on Search (upper right) > type schedule e > Enter > click Jump to .... link
Answer the questions and on under Rent and Royalty Summary, click Edit
Click Update to the right of Assets/Depreciation.
Do you want to go directly to your asset summary?, click Yes and Continue
Click Edit to the right of each asset to be disposed of
Go through several screens until you get to Tell Us More About This Rental Asset
Click on This item was sold……. And continue to answer the questions
You might also review information here for more details
Saturday
1 Cheer
What is the problem? Import brokerage document Are you in TurboTax Online, or are you on Desktop? desktop What version, or product are you in? Premier What section are you trying to post? Dividen...
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What is the problem? Import brokerage document Are you in TurboTax Online, or are you on Desktop? desktop What version, or product are you in? Premier What section are you trying to post? Dividend, interest and stock trades. What are the details of your problem or calculation error? I am using the Premier Desktop version. I am stuck in an infinite loop. When trying to import E*trade dividend, interest, and stock trade tax documents, the TurboTax app opens a browser outside of the application. I am prompted for E*trade username and password in a browser. I successfully login and I see a message that intuit has access to my data (Connection complete! Success! We got your tax data. You can now return to TurboTax.). I switch back to the application and see that nothing has changed. If I click the Continue button again, it opens another browser session outside of the TurboTax window and asks for username and password again. I can successfully import the documents in the TurboTax web application online. I bought the desktop version. I don't want to pay again online.
Saturday
on review asks for canadian pension
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Saturday
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Saturday
In the File section of the program onStep 2, when you have a federal tax refund, on the screenHow would you like to receive your federal refund? scroll to the bottom of the screen and select Split my...
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In the File section of the program onStep 2, when you have a federal tax refund, on the screenHow would you like to receive your federal refund? scroll to the bottom of the screen and select Split my refund between multiple bank accounts
Saturday
My income is approx $300k, son has a full academic scholarship at college which is approx $13k more than tuition - as it also covers room and board. I claim his as a dependent so assuming this amount...
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My income is approx $300k, son has a full academic scholarship at college which is approx $13k more than tuition - as it also covers room and board. I claim his as a dependent so assuming this amount i have to report as 'income.' I entered under Deductions&credits in the form 1098T section. But all it then says is "I cant claim because my income is too high." But not trying to claim it as as any kind of deduction. My concern is this $13k isnt showing as a taxable income - which i believe it should be? i think last yr i had similar issue so i manually entered this approx $13k under "misc Income as SCH. Was this not correct???
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Saturday
You cannot deduct HOA fees or "purchase related" costs like closing costs. You can enter mortgage interest and property tax that you paid in 2025 for your second home.
Saturday
I tried the edit and delete form and that didn't work the form still shows up
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Saturday
it doesn't give me the option to deposti into 2 accounts
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Saturday
TurboTax discontinued ItsDeductible after October 2025.