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I bought a new rental property in December 2024. I did not rent it till April 2025 How do claim expenses incurred in 2024?  I have closing costs, mortgage points,  new paint carpet utilities travel e... See more...
I bought a new rental property in December 2024. I did not rent it till April 2025 How do claim expenses incurred in 2024?  I have closing costs, mortgage points,  new paint carpet utilities travel expenses etc.    Do I claim it in 2025 ?    I tried declaring a new property but as it had no income TT won't list it.  I already have a couple other properties that I rent out and pay taxes on.  This property will be taxable 2025 but is only a loss for 2024. Do I put $1 income so it will list?
All agree it is a confusing notion, but TurboTax refuses to change their ways.
No, IRA funds must be distributed to you by the custodian.   @priposo 
The above information provided doesn't seem to be accurate. The same link you provided has a questionnaire at the bottom of the page that says answering any question as "Yes" would qualify you as an ... See more...
The above information provided doesn't seem to be accurate. The same link you provided has a questionnaire at the bottom of the page that says answering any question as "Yes" would qualify you as an independent on the FAFSA application. Well, he answer yes to the very first one about the ager. Also, I have seen references to the verbiage that seems to suggest that FAFSA independency status has nothing to do with IRS dependent qualification.  
They are ALL wrong! Here's the problem: Although the Forms view in Turbotax (as well as the actual IRS Form 8936) specifies alphabetic codes to be entered in Line 5 for the Filing Status selected fr... See more...
They are ALL wrong! Here's the problem: Although the Forms view in Turbotax (as well as the actual IRS Form 8936) specifies alphabetic codes to be entered in Line 5 for the Filing Status selected from the table, Turbotax only allows numeric values in the field for Line 5. For example, if my Filing Status is Married Filing Jointly, the 8936 form specifies that a code of "MFJ" be entered in Line 5. Turbotax, however, has a different set of codes, which are all numeric that it enters in Line 5. These codes can only be seen by clicking on the dropdown list on the box for Line 5, which is only visible for a User working inside the Turbotax program. The value that Turbotax enters for Married Filing Jointly is "2". The problem is that these numeric codes that Turbotax uses have no relation to the alpha codes that the IRS form specifies, and the numeric codes can only be accessed within Turbotax. Any auditor at the IRS looking at the entry for Line 5 would be totally confused as to what this means, since the numeric values do not appear anywhere in the IRS documentation. Although the correct Filing Status could easily be obtained by looking elsewhere on Form 1040, it does not seem to be good practice to make it more difficult for an IRS auditor by expecting him/her to search elsewhere on the tax return to find the correct information, when it seems like a fairly simple fix to change the codes used for each Filing Status to the correct ones. By the way, I actually dealt with this in a separate thread where another Turbotax agent AnnetteB6 said that "As long as the corresponding MAGI limits for the 2023 filing status are applied correctly in the subsequent sections of the form, then there is nothing for Turbotax to fix." I don't find this response satisfactory, since at the least this could create confusion for an IRS auditor, which doesn't seem like a very good idea. Since this is nearly April 15, we could perhaps live with this for this year, but it seems to me that at least correcting this for the next tax year could avoid potential problems later on.
IRS has a formula for "Required Annual Payment" of Estimated Tax plus withholding. Your state has a similar formula. you should find it in the instructions for filing a tax return on the MO tax rev... See more...
IRS has a formula for "Required Annual Payment" of Estimated Tax plus withholding. Your state has a similar formula. you should find it in the instructions for filing a tax return on the MO tax revenue website.   @KC mail mom  
I have had capital gains in the past, never had a schedule D (checked last 2 years' returns) OR needed to upgrade to Premium.
In order to "fix' my State of Ohio return it wants me to enter a date of my winnings, but I had no winnings
As I was working through my Roth IRA contribution in TurboTax, I noticed a potential issue with the Roth IRA Contribution Limit Worksheet—specifically with Line 1, which is meant to reflect modified ... See more...
As I was working through my Roth IRA contribution in TurboTax, I noticed a potential issue with the Roth IRA Contribution Limit Worksheet—specifically with Line 1, which is meant to reflect modified adjusted gross income (MAGI). In my case, TurboTax entered a value on Line 1 that exactly matches my adjusted gross income (AGI) from Form 1040, line 11, with no modifications. However, I completed a Roth IRA conversion from a traditional IRA in 2024. The converted amount should be subtracted from AGI when calculating MAGI, so I expected my MAGI to be lower than my AGI. But in the worksheet generated by TurboTax, they are the same. To support my understanding of the MAGI calculation, IRS Publication 17 (2024), Worksheet 9-2 (Modified AGI for Roth IRA Purposes), shows that “any income resulting from the conversion of an IRA (other than a Roth IRA) to a Roth IRA (included on Form 1040 or 1040-SR, line 4b)” is subtracted from AGI when calculating MAGI for Roth IRA purposes. Am I missing something here, or could this be a calculation error in the software?
When Federal Taxes were e-filed, the fee that was due was scheduled to be paid on the same day 4-14-25.  I don't see it in my bank account and the TurboTax page says "due".  Do I need to pay it direc... See more...
When Federal Taxes were e-filed, the fee that was due was scheduled to be paid on the same day 4-14-25.  I don't see it in my bank account and the TurboTax page says "due".  Do I need to pay it directly to the IRS? I want to make sure it is paid on time.  Please advise.  Thanks
Do I need to enter the amount that was forgiven through the Borrower Defence Loan Discharge for my California return?
That finally worked.  Clicking "Income & Expenses" in center -> Review, brings up the menu at left bar, then if you scroll the slider down, can finally see the elusive "Tax Tools" option.   Could the... See more...
That finally worked.  Clicking "Income & Expenses" in center -> Review, brings up the menu at left bar, then if you scroll the slider down, can finally see the elusive "Tax Tools" option.   Could then delete the phantom 1099-Misc form.  Thank you AmyC! 
I mistakenly purchased TurboTax Premier thinking it would work on my IPad Pro. It would not install. I used the online version instead.  Can I get a credit or refund for the unused download towards m... See more...
I mistakenly purchased TurboTax Premier thinking it would work on my IPad Pro. It would not install. I used the online version instead.  Can I get a credit or refund for the unused download towards my online expense. I tried calling the customer support phone number and got zero help!  
I am using my iPad and logging in via a browser. I am looking to print the worksheets used by TurboTax (Capital Loss Carryover worksheet) and the Tax calculation worksheet. I’ve already filed. I we... See more...
I am using my iPad and logging in via a browser. I am looking to print the worksheets used by TurboTax (Capital Loss Carryover worksheet) and the Tax calculation worksheet. I’ve already filed. I went to TurboTax Home and scrolled down to Add a State… I can then print my return but I don’t see a Print Center where i can select my return and all worksheets. The reason I ask, is that when I calculate my Taxes, i get a different number than TurboTax. I have the same AGI so I don’t understand why I am getting a different amount for the total taxes owed for the year. i always spot check TurboTax each year and this is the first time I am having difficulty checking the math.
That's good, but the Desktop version does not have a "Print Center", so those suggestions don't work for us. Thanks, anyway.
Well crap. If I had entered it this year then it would’ve only affected my return by $142. Oh well, I tried.