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April 14, 2025
9:32 AM
Are you asking AGI or gross? Do you want me to post the amount, or will it suffice to say that the AGI is well below $14K?
April 14, 2025
9:32 AM
The SLCSP premium is incorrect if:
Part III, Column B has a “0” or is blank for any month someone in your household had the Marketplace plan
You had changes in your household that you did...
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The SLCSP premium is incorrect if:
Part III, Column B has a “0” or is blank for any month someone in your household had the Marketplace plan
You had changes in your household that you didn’t tell the Marketplace about — like having a baby, moving, getting married or divorced, or losing a dependent
If either applies to you, you’ll use the government's tax tool to get the premium for your second lowest cost Silver plan and fill that cost in column B of form 1095-A. Failure to do this will result in a wrong calculation of the premium tax credit.
April 14, 2025
9:32 AM
I am actually working on my 2023 return. I closed one of my businesses in 2023 summer. I selected the option in Turbo Tax that I closed the business followed with another question in that regard. No...
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I am actually working on my 2023 return. I closed one of my businesses in 2023 summer. I selected the option in Turbo Tax that I closed the business followed with another question in that regard. Now, when I review my return, there is no mention on Sch C that this was a final retun. How to report to IRS that this business in no longer in existence since mid 2023? Please help! Thank you in advance!
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April 14, 2025
9:31 AM
Yes, the carryover loss should be allocated between the two owners using the same percentages as the income and expenses. This is the correct way to report the activity, since you are amending both r...
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Yes, the carryover loss should be allocated between the two owners using the same percentages as the income and expenses. This is the correct way to report the activity, since you are amending both returns.
April 14, 2025
9:31 AM
If you need more time, you can file for an extension with TurboTax.
See TurboTax Desktop in How do I file an IRS tax extension?
Remember, an extension gives you more time to prepare yo...
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If you need more time, you can file for an extension with TurboTax.
See TurboTax Desktop in How do I file an IRS tax extension?
Remember, an extension gives you more time to prepare your taxes, but it does NOT extend the time to pay your taxes.
If you have an indication that you will owe taxes, you should make the payment to avoid additional interest and penalties
This will give you until 15 October 2025 to file your taxes.
You can also file a Free federal tax extension here
You may have to do your state extension
Do I need to file an extension for my personal state taxes?
If you owe taxes, you must pay by April 15th.
To file for extension in the TurboTax program
On the menu bar on the left that shows.
Select Tax Tools
On the drop-down select Tools
There will be 4 green boxes
Select Tax Topics
Type Extension
You can start the extension process
April 14, 2025
9:31 AM
Do I need to wait until my state is accepted before I amend or is there a problem?
April 14, 2025
9:31 AM
If you need more time, you can file for an extension with TurboTax.
See TurboTax Desktop in How do I file an IRS tax extension?
Remember, an extension gives you more time to prepare yo...
See more...
If you need more time, you can file for an extension with TurboTax.
See TurboTax Desktop in How do I file an IRS tax extension?
Remember, an extension gives you more time to prepare your taxes, but it does NOT extend the time to pay your taxes.
If you have an indication that you will owe taxes, you should make the payment to avoid additional interest and penalties
This will give you until 15 October 2025 to file your taxes.
You can also file a Free federal tax extension here
You may have to do your state extension
Do I need to file an extension for my personal state taxes?
If you owe taxes, you must pay by April 15th.
To file for extension in the TurboTax program
On the menu bar on the left that shows.
Select Tax Tools
On the drop-down select Tools
There will be 4 green boxes
Select Tax Topics
Type Extension
You can start the extension process
April 14, 2025
9:31 AM
Yes, you were just in WI for work, it was never home. No license, voting, etc.
Prepare your Nonresident WI first.
Then file MO resident claiming all income plus a credit for the tax paid to ...
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Yes, you were just in WI for work, it was never home. No license, voting, etc.
Prepare your Nonresident WI first.
Then file MO resident claiming all income plus a credit for the tax paid to WI. -which is why you have to do WI first.
You get credit for the lower state tax on the lowest taxable amount.
Each state calculates taxable income differently.
Each state has its own tax rate/ system.
You get the lowest of both categories as a tax credit.
April 14, 2025
9:31 AM
If you are a U.S. citizen or resident alien, you are subject to tax on worldwide income from all sources and must report all taxable income and pay taxes according to the Internal Revenue Code.
...
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If you are a U.S. citizen or resident alien, you are subject to tax on worldwide income from all sources and must report all taxable income and pay taxes according to the Internal Revenue Code.
IRS FAQ US Citizens and Resident Aliens Abroad
April 14, 2025
9:31 AM
I have transferred funds to the account now and want the payment to be processed. What should I do?
April 14, 2025
9:31 AM
Thank you. I used Efile service in TurboTax. But I cannot correct the form to make the Compensation file 0, or Void this 1099. Do you know how to do it in TurboTax Business?
April 14, 2025
9:30 AM
I am self employed, use TT Deluxe to report income and expenses by cash method. In 2024 I took a business trip for which I incurred the expenses. My 2024 business income was greater than the trip expe...
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I am self employed, use TT Deluxe to report income and expenses by cash method. In 2024 I took a business trip for which I incurred the expenses. My 2024 business income was greater than the trip expenses. The client reimbursed those expenses in 2025. Which should I do?:
1) Deduct the trip expenses from my 2024 income on my 2024 return, and then include the include the reimbursement with the rest of my 2025 income on the 2025 return; or
2) Say nothing on the 2024 return, and in 2025 deduct the expenses from my 2025 income since that was the year I received the reimbursement.
Thanks!
Topics:
April 14, 2025
9:30 AM
Once your return is accepted for processing by the IRS and/or State TurboTax has no control over the processing of your return and/or release of your refund. If you have any inquiries regarding any d...
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Once your return is accepted for processing by the IRS and/or State TurboTax has no control over the processing of your return and/or release of your refund. If you have any inquiries regarding any delay you should contact the IRS or your state Department of revenue directly for further assistance.
There is a couple of FAQs to help you track your refund
When will I get my federal tax refund?
How do I track my state refund?
Why does Where's My Refund say "approved" but TurboTax still says "accepted"?
Why do some refunds take longer than others?
What if my IRS refund is taking longer than 21 days?
April 14, 2025
9:30 AM
Topics:
April 14, 2025
9:30 AM
Topics:
April 14, 2025
9:30 AM
@vacaymode wrote: @VolvoGirl this wouldn’t get flagged by the IRS since I technically do have a 1099-NEC? I think the IRS only looks at schedule C line 1. So as long as line 1 is the same ...
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@vacaymode wrote: @VolvoGirl this wouldn’t get flagged by the IRS since I technically do have a 1099-NEC? I think the IRS only looks at schedule C line 1. So as long as line 1 is the same or more than your 1099NEC forms it should be ok.
April 14, 2025
9:30 AM
How do I file an IRS extension?
Topics:
April 14, 2025
9:30 AM
It sounds like TurboTax is still recognizing the 1099-OID, Foreign Accounts section even after selecting "None of the above." Here’s how you can try removing it:
Check "none of the above". ...
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It sounds like TurboTax is still recognizing the 1099-OID, Foreign Accounts section even after selecting "None of the above." Here’s how you can try removing it:
Check "none of the above". Sign out or exit the return and sign back again to see if the nagging error has been removed.
Delete the Form Directly – Go to Tax Tools > Tools > Delete a Form and look for Form 1099-OID and Form 8938 (Foreign Accounts Statement). Delete them if they appear. After deleting, sign out or exit and then sign back in again. See if the forms are removed.
Clear Entries Manually – Navigate to Federal > Income & Expenses > Interest & Dividends > 1099-OID, Foreign Accounts. Open the entry screen and blank out all fields before exiting.
Perform these entries one at a time and see if everything is removed.
April 14, 2025
9:29 AM
I know this is an obvious question, but any chance that the amount entered on line 12 on the 1040 is the Standard Deduction, so that unless you check a certain box in an interview, the Schedule A amo...
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I know this is an obvious question, but any chance that the amount entered on line 12 on the 1040 is the Standard Deduction, so that unless you check a certain box in an interview, the Schedule A amount will be ignored?
Next, any chance that this exception about disaster losses applies to you?
Exception 4—Increased standard deduction for net qualified disaster loss. If you had a net qualified disaster loss and you elect to increase your standard deduction by the amount of your net qualified disaster loss, use Schedule A to figure your standard deduction. Qualified disaster loss refers to losses arising from certain disasters occurring in 2016 and subsequent years.
Review the several exceptions in the 1040 instructions. Look for "Line 12", it starts on page 31.