All Posts
a month ago
I'm sorry if someone's already responded to this question: like everyone else, I'm waiting for the depreciation/amortization form on our rental properties to be out. I purchased a washing machine a...
See more...
I'm sorry if someone's already responded to this question: like everyone else, I'm waiting for the depreciation/amortization form on our rental properties to be out. I purchased a washing machine and dryer for my rental in 2025 and paid $1,995. I'm going to expense it for 2025 rather than depreciate it. I'm wondering is i t ok to just put it in "other expenses" rather than wait for the missing form from Turbo Tax? thank you
a month ago
Saving the return, exiting, and going back in helped clear whatever was going on...
a month ago
I think you are entering a Form 1099-MISC. If so, you need to indicate that you did not have a profit motive for the income, that it will only be received in the current year and it is not associated...
See more...
I think you are entering a Form 1099-MISC. If so, you need to indicate that you did not have a profit motive for the income, that it will only be received in the current year and it is not associated with your job. You will see questions about that in the section where you enter the Form 1099-MISC. If you do that, the income will not be reported as self-employment income on a Schedule C.
a month ago
Topics:
a month ago
I thought I could always count on Turbo Tax and have used them for years - now no help line at all - how do I report the sale of a rental property
Topics:
a month ago
Enter all your Roth IRA contributions before Jan 1 2025. Turbotax uses this information to determine if a withdrawal will be taxable. Do not enter contributions to a traditional IRA, whether they a...
See more...
Enter all your Roth IRA contributions before Jan 1 2025. Turbotax uses this information to determine if a withdrawal will be taxable. Do not enter contributions to a traditional IRA, whether they are deductible or nondeductible. Do not include contributions to a Roth 401k or 403b plan because workplace plans are not IRAs.
a month ago
Topics:
a month ago
My son is less than a year old, has lived with me all year, and I support him. He has a valid social, as do I, and was born in the US. I have the Earned Income Credit applied, but Turbo Tax won't appl...
See more...
My son is less than a year old, has lived with me all year, and I support him. He has a valid social, as do I, and was born in the US. I have the Earned Income Credit applied, but Turbo Tax won't apply the Child Tax Credit.
Topics:
a month ago
Issue resolved itself... Now I am being asked for a valid school district code even though the code auto-populated from last year's return (and I verified it is the same code in the list from Tur...
See more...
Issue resolved itself... Now I am being asked for a valid school district code even though the code auto-populated from last year's return (and I verified it is the same code in the list from TurboTax). Can someone say BUGGY???
a month ago
Topics:
a month ago
Topics:
a month ago
No, you don't enter anything directly on the forms when using TurboTax. Are the losses from selling securities? If so, those get entered into the Investment sales section. Where do I enter inves...
See more...
No, you don't enter anything directly on the forms when using TurboTax. Are the losses from selling securities? If so, those get entered into the Investment sales section. Where do I enter investment sales?
Or if you have rental losses, those get entered in the Rental Income and Expenses section. Where do I enter my rental activity?
And if you have K-1 forms, follow the path in this help article - Where do I enter a K-1?
a month ago
The credit is claimed as of the date the solar system is installed using the full contracted price, even if you did not pay all at once. You need to amend your 2024 return to claim this credit.
a month ago
Use the average price when donated, not when purchased.
a month ago
Topics:
a month ago
Community, I figured it out. Just proceed as if entering a 1099-B and use a custom Bank/Broker name like “Private Stock Sale”, then can proceed from there to enter the info from there.
a month ago
Hola: Me vino rechazado el refund estatal, de Illinois. Me pone sugerencias sobre mi ID y el código de Illinois, pero al corregir no me da la opción de ir a un formulario donde pueda cambiar...
See more...
Hola: Me vino rechazado el refund estatal, de Illinois. Me pone sugerencias sobre mi ID y el código de Illinois, pero al corregir no me da la opción de ir a un formulario donde pueda cambiar datos... Me puede decir qué puedo hacer ahora? Gracias.
a month ago
I have imported the files from my MS account and it says the transfer was successful but the files are not on on turbo tax. There are no files listed in the import summary. My MS account is set up ...
See more...
I have imported the files from my MS account and it says the transfer was successful but the files are not on on turbo tax. There are no files listed in the import summary. My MS account is set up to allow downloads.
Topics:
a month ago
1 Cheer
Go to Forms. Near bottom of list is 2yr Comp. This will show all the line items from 2024 and 2025 in columns for a line by line comparison.