All Posts
April 15, 2025
6:59 AM
No, you will file only your individual tax return. All of your income and expense go only on your personal return because a single member limited liability company (SMLLC) is a disregarded entity for...
See more...
No, you will file only your individual tax return. All of your income and expense go only on your personal return because a single member limited liability company (SMLLC) is a disregarded entity for the IRS.
April 15, 2025
6:58 AM
If my memory is correct after my Federal taxes were sent Turbo Tax wanted like $60 to file my state. How do I get my state refund now for tax year 2022
Topics:
April 15, 2025
6:58 AM
I filed for an extension but owe California taxes. What form do I use to submit my payment?
Topics:
April 15, 2025
6:58 AM
It is not allowing me to enter anything in the box when it populates a message: Check This Entry Schedule SD WH: W-2 School District Tax should be entered on federal Form W-2, Box 19 for ...
See more...
It is not allowing me to enter anything in the box when it populates a message: Check This Entry Schedule SD WH: W-2 School District Tax should be entered on federal Form W-2, Box 19 for the School District Number entered above. it gives this message and highlights a box but is not allowing me to enter anything in the box. There is no keyboard popping up, I tried it on my computer as well and it is not allowing me to type anything in the box.
April 15, 2025
6:58 AM
If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines.
You must first wait until th...
See more...
If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines.
You must first wait until the initial return is completely processed.
You will have to use the same TurboTax account that you used for the original tax return.
Once you begin your amendment, you'll see your original return.
The refund calculator will start new at $0 and only reflect the changes in the refund or tax due
Only make changes to the areas of your return that need to be corrected.
You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment
Select your product below and follow the instructions.
Amend TurboTax Online
Amend TurboTax CD/Download
April 15, 2025
6:58 AM
How do I change e-file to mail in race return ?
April 15, 2025
6:57 AM
Topics:
April 15, 2025
6:57 AM
How do I file a revised Federal return after electronically filing?
April 15, 2025
6:57 AM
Topics:
April 15, 2025
6:57 AM
1 Cheer
TT Marketing is sending out all kinds of reminder emails to users. If you know you have more time because you are in an area that was affected by a disaster then ignore the emails.
April 15, 2025
6:57 AM
Did you enter Form 1099-MISC with income in Box 1 Rent or Box 2 Royalties? If so, TurboTax will create a Schedule E for that income. You can either complete the information under the Rental Propertie...
See more...
Did you enter Form 1099-MISC with income in Box 1 Rent or Box 2 Royalties? If so, TurboTax will create a Schedule E for that income. You can either complete the information under the Rental Properties & Royalties topic, or review your answers for the 1099 entry screens.
The easiest way to find any section of TurboTax Online is to open your return, go to Tax Tools in the left column >> Tools >> Topic Search. Type in your topic, click the topic in the list and then GO to go directly to the start of that section. In TurboTax Desktop, use the Search box or Show Topics in the header.
April 15, 2025
6:57 AM
If you qualify you have only today left to try to obtain your 2021 Stimulus check.
Taxpayers have three years to file a return and claim any refunds, credits or stimulus payments. So, the deadl...
See more...
If you qualify you have only today left to try to obtain your 2021 Stimulus check.
Taxpayers have three years to file a return and claim any refunds, credits or stimulus payments. So, the deadline for any remaining 2021 stimulus payments the cut-off for 2021 payments is April 15, 2025.
@David Hoffer
April 15, 2025
6:56 AM
If you are divorced, what does it matter?
If there is a child involved it may be another matter.
You would have to analyze the situation.
Claiming Dependent
April 15, 2025
6:56 AM
Amended returns use the same disbursement method used on the original return. It doesn't sound like your amendment went though. I would try again. You will get an email confirmation.
April 15, 2025
6:56 AM
April 15, 2025
6:56 AM
Topics:
April 15, 2025
6:55 AM
1 Cheer
Yes, here are some key considerations:
Return of Capital & Basis Adjustment
Since the $20,000 distribution is classified as ROC, it generally reduces your basis in the DST investment r...
See more...
Yes, here are some key considerations:
Return of Capital & Basis Adjustment
Since the $20,000 distribution is classified as ROC, it generally reduces your basis in the DST investment rather than being treated as taxable income.
If your basis reaches zero, any further ROC distributions could be taxable as capital gains.
1031 Exchange & Deferred Gain
A DST investment in a 1031 exchange is structured to defer capital gains tax until the property is sold.
The deferred gain remains embedded in the investment, meaning you typically don’t recognize gain until the DST property is sold.
If the ROC distributions are simply reducing your basis, you likely don’t need to report a gain at this stage.
IRS Reporting & Grantor Letter
DSTs issue Grantor Letters instead of K-1s or 1099s, detailing your share of rental income and expenses.
If the Grantor Letter doesn’t mention ROC, but your account statement does, it’s worth confirming with the DST sponsor how they are reporting it to the IRS.
You may need to track basis adjustments separately, as TurboTax suggested
April 15, 2025
6:55 AM
Topics:
April 15, 2025
6:55 AM
Obviously so they can make more money. Each year they keep looking for ways to increase their bottom line. You can still post your question on this forum without charge (so far).