All Posts
April 1, 2025
9:27 AM
I need to add income
April 1, 2025
9:27 AM
TurboTax does not get any information at all from the IRS after you file your tax return. No one at TurboTax knows what the IRS is doing with your return.
Did you mail your return or e-fil...
See more...
TurboTax does not get any information at all from the IRS after you file your tax return. No one at TurboTax knows what the IRS is doing with your return.
Did you mail your return or e-file?
If you mailed it:
MAILED RETURNS
If you mail a tax return (or a payment) to the IRS, it is a good idea to use a mailing service that will track it like UPS or certified mail so you will know it was received.
When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s.
TurboTax will not know anything about your mailed return, and will continue to show “Ready to Mail” on your account. TurboTax will not know that you put your tax return in an envelope and took it to a mailbox. TurboTax does not get updates on mailed (or e-filed) returns.
You need your filing status, your Social Security number and the exact amount (line 35a of your 2023 Form 1040) of your federal refund to track your Federal refund:
https://www.irs.gov/refunds
Or......
Did you e-file? Did you click a big orange button that said “Transmit my returns now?”
When you e-file your federal return you will receive two emails from TurboTax. The first one will say that your return was submitted. The second email will tell you if your federal return was accepted or rejected. If you e-filed a state return, there will be a third email to tell you if the state accepted or rejected your state return.
Does your TT account say that your return was accepted? Or does it say something else—like “rejected”, “printed” or “ready to mail?” If it does not say accepted then it was not filed unless you put it in an envelope yourself and mailed it.
TurboTax does not mail your tax return for you.
If your e-file was accepted:
If you chose to have your fees deducted from your federal refund:
Santa Barbara Tax Products Group, LLC (SBTPG) is the bank that handles the Refund Processing Service when you choose to have your TurboTax fees deducted from your refund. This option also has an additional charge from the bank that processes the transaction.
You can contact them SBTPG, toll-free, at 1-877-908-7228 or go to their secure website www.sbtpg.com
https://ttlc.intuit.com/questions/2580357-who-provides-the-refund-processing-service
Call the IRS: 1-800-829-1040 hours 7 AM - 7 PM local time Monday-Friday
When calling the IRS do NOT choose the first option re: "Refund", or it will send you to an automated phone line. So after first choosing your language, then do NOT choose Option 1 (refund info). Choose option 2 for "personal income tax" instead. Then press 1 for "form, tax history, or payment". Then press 3 "for all other questions." Then press 2 "for all other questions." - When it asks you to enter your SSN or EIN to access your account information, don't enter anything. - After it asks twice, you will get another menu.
Press 2 for personal or individual tax questions. Then press 3 for all other inquiries It should then transfer you to an agent.
TAX ADVOCATE
See this article for more info on how the Taxpayer Advocate Service works:: http://www.irs.gov/taxtopics/tc104.html
https://www.taxpayeradvocate.irs.gov/
April 1, 2025
9:26 AM
When you file the amended return you will see
Pending
Accepted or
Rejected on the home screen
If you do not, you should check to see if the return was filled.
April 1, 2025
9:26 AM
No. Not on your return. Depending on how much it was, it they need to file a return due to the winnings, you would report it on their return, not yours.
Do I need to file a federal return th...
See more...
No. Not on your return. Depending on how much it was, it they need to file a return due to the winnings, you would report it on their return, not yours.
Do I need to file a federal return this year?
April 1, 2025
9:25 AM
No.
If you are a non-married couple who live together with your child, then only one of you can claim the child(ren) and the one not claiming the child does not enter anything at all on their tax r...
See more...
No.
If you are a non-married couple who live together with your child, then only one of you can claim the child(ren) and the one not claiming the child does not enter anything at all on their tax return about the child. The “sharing” of child-related credits you may have heard about is only possible between divorced or never married parents who live apart and share custody and who have a written agreement to share the credits. The child’s SSN can only be entered on one tax return. Any other return with the child’s SSN on it will be rejected. If you are a family, then work out how to share the refund between yourselves.
April 1, 2025
9:24 AM
Hi there - I file my FBAR/FinCen Form 114 every year and I also file my tax returns in India every year as an Non-resident Indian. Me and my wife have couple of rental properties in India for which ...
See more...
Hi there - I file my FBAR/FinCen Form 114 every year and I also file my tax returns in India every year as an Non-resident Indian. Me and my wife have couple of rental properties in India for which we paid the annual property taxes. These properties were not used personally but they were also not rented out, so no rental income from them. We incurred some maintenance on these properties are can we show/disclose these maintenance expenses on our tax filings this year? Can the maintenance expenses be shown as ordinary losses on form 4797 with Passive Activity Loss? Also, for the property taxes paid, can we use the form 1116 and can we claim for past few prior years too?
April 1, 2025
9:24 AM
She is being paid as a W2 employee in 2025.....have the rules changed for 2025?
April 1, 2025
9:24 AM
No. Only one person can claim each child. If he is claiming them both, then you would not claim them or enter them on your return.
April 1, 2025
9:24 AM
Please call TurboTax Customer service. Here is a link: Turbo Tax Customer Service
April 1, 2025
9:24 AM
The IRS Known Issue website says that this has been resolved. I submitted yesterday after seeing that and it was still rejected. Is this a turbo tax issue at this point? When will I be able to submit?
Topics:
April 1, 2025
9:24 AM
Yes, you do not have to make any estimated tax payments.
The IRS does not get copies of your 1040-ES
However, you run the risk of paying a tax penalty next year.
The underpayment penalty ...
See more...
Yes, you do not have to make any estimated tax payments.
The IRS does not get copies of your 1040-ES
However, you run the risk of paying a tax penalty next year.
The underpayment penalty will be assessed if any of these apply:
"If you don’t pay enough tax through withholding and estimated tax payments, you may have to pay a penalty."
"You also may have to pay a penalty if your estimated tax payments are late, even if you are due a refund when you file your tax return."
To avoid the under payment penalty:
The amount you owe is less than $1,000, after subtracting withholding and refundable credits.
You paid 90% of the tax that you owed for the current year.
You paid 100% of the previous year tax, (110% for higher incomes).
If your previous year's adjusted gross income was more than $150,000 you will have to pay in 110% of your previous year's taxes to satisfy the "safe-harbor" requirement.
"Typically, underpayment penalties are 5% of the underpaid amount, and they're capped at 25%.
Underpaid taxes also accrue interest at a rate that the IRS sets annually."
To avoid this situation it is recommended that you adjust your W-4 with your employer or pay estimated taxes.
Underpayment of Estimated Tax by Individuals Penalty
April 1, 2025
9:23 AM
The income was from a prize winning at a science contest.
April 1, 2025
9:23 AM
Topics:
April 1, 2025
9:23 AM
Health Insurance is also deductible as a medical expense if you itemize deductions. If you did not itemize deductions on your federal return, but are itemizing your deductions on California return y...
See more...
Health Insurance is also deductible as a medical expense if you itemize deductions. If you did not itemize deductions on your federal return, but are itemizing your deductions on California return you will see your health insurance on California Schedule CA. If you are seeing it on line 17 of your Form 540, then it is transferring from your federal tax return.
April 1, 2025
9:23 AM
1 Cheer
Yes, technically that is correct. However there are ways to eliminate underpayment penalty by using the information below. It's wise to hang on to as much money as you can until you are required to m...
See more...
Yes, technically that is correct. However there are ways to eliminate underpayment penalty by using the information below. It's wise to hang on to as much money as you can until you are required to make a payment.
Generally, you can avoid the penalty if your total timely estimated payments and withholdings are greater than or equal to the lesser of:
90% of the total tax after credits for the current year, or
100% of the total tax after credits in the prior year
See one exception below.
You can also avoid the penalty if the amount you owe is less than $1,000 as long as any estimated tax payments you made are timely.
Note: High-income taxpayers. If your adjusted gross income (line 11 of your 2023 Form 1040) is greater than $150,000 (or $75,000 if you're married and file a separate return from your spouse), you can avoid a penalty by paying at least 110% of your total tax from the prior year.
Key Information: If you do need to pay estimated tax payments for your other income or to meet the rules above, you must make them evenly throughout the year. Even a refund on a tax return could still have an underpayment penalty if the payments are paid late.
April 1, 2025
9:23 AM
1 Cheer
There is not a general "best answer" to this question.
There are several factors to consider with this.
1) Was this your first year doing Turo?
2) How old is the car and how much did yo...
See more...
There is not a general "best answer" to this question.
There are several factors to consider with this.
1) Was this your first year doing Turo?
2) How old is the car and how much did you pay for it? If it is a new car and you want to deduct the full amount this year, you could lower your profit and offset other income, but would it be better to lower your profit in future years instead?
3) How many years do you plan to do Turo?
Basically, the things to consider are
If you use the actual expenses and depreciation in the first year, you cannot switch back and forth. You will not be able to claim the standard mileage deduction in any future years.
If you use the standard mileage in the first year, you can switch back and forth, but you cannot claim any special depreciation or bonus depreciation in future years.
If you do not use this vehicle exclusively for Turo, then you would need to prorate depreciation and actual expenses. Where as if you use the standard mileage, you would only need to enter the miles you used it for business (well the customers used it for business)
You can check both ways in TurboTax to see which one you make out with best this year. You will want to consider what your future situation will look like as well when determining which one to do this year.
April 1, 2025
9:22 AM
Even if she has multiple locations, the business use of a vehicle is not deductible for wage (W-2) employees in 2024. It would be deductible if her income was reported on a Form 1099-NEC, which would...
See more...
Even if she has multiple locations, the business use of a vehicle is not deductible for wage (W-2) employees in 2024. It would be deductible if her income was reported on a Form 1099-NEC, which would be the case if she was considered self-employed.
April 1, 2025
9:22 AM
1 Cheer
That's correct. Include on OR return payments received until the day you moved your mom to Washington.
Sorry for your loss.
April 1, 2025
9:22 AM
When you sell the car you're going to have a gain based on business use. Since you don't have the 179 recapture on your tax return this year then you will owe that recapture at the time of sale. Ke...
See more...
When you sell the car you're going to have a gain based on business use. Since you don't have the 179 recapture on your tax return this year then you will owe that recapture at the time of sale. Keep track of your business use percentages (including this year's 13%) so that you can calculate business use percentage over the life of the car to figure out what percentage of the sale price is taxable income.
@nancylin