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April 1, 2025
9:44 AM
April 1, 2025
9:44 AM
This is ordinary interest and I have normally reported it this way why is it unacceptable now?
April 1, 2025
9:44 AM
April 1, 2025
9:43 AM
Software will not find 2023 taxes
April 1, 2025
9:43 AM
Topics:
April 1, 2025
9:42 AM
James thank you so much! I will start over and get it done today. May your day be blessed!!!
April 1, 2025
9:42 AM
April 1, 2025
9:42 AM
Generally, the answer is no, a loss on the sale of a country club membership is not tax deductible. This is because the membership is considered a personal item, and losses on the sale of personal it...
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Generally, the answer is no, a loss on the sale of a country club membership is not tax deductible. This is because the membership is considered a personal item, and losses on the sale of personal items are not tax deductible.
What do you mean by they took it away. That sounds like a legal issue,
April 1, 2025
9:41 AM
Military discount is valid for active duty and reservists of an enlisted rank (E-1 through E-9) with a military W2.
Excludes National Guard members
Excludes TurboTax Live products
In ...
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Military discount is valid for active duty and reservists of an enlisted rank (E-1 through E-9) with a military W2.
Excludes National Guard members
Excludes TurboTax Live products
In TurboTax Online, review the questions in My Info in the upper left hand corner of the screen.
Make sure that the questions have been correctly answered at the screen Let's check for some other situations. Make sure that you report a military W-2.
April 1, 2025
9:41 AM
This response it incorrect. The question does appear even if you have never checked a box for "THIS PERSON is a non-resident alien or dual-status alien spouse". I have never checked that box now or...
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This response it incorrect. The question does appear even if you have never checked a box for "THIS PERSON is a non-resident alien or dual-status alien spouse". I have never checked that box now or ever in the past, and the software asked me this question anyway. It asks this question before you get to the part of entering information for your spouse. One of the other posts is correct that the questions are inherently out of order. If anyone from Turbo Tax happens to read this, you need to fix your software. When it asks questions like this out of order it makes me wonder how many other mistakes are in this software that I never become aware of. Every mistake you make causes your customers to doubt your competence and doubt the quality of your software. This question being out of order should have been caught in your testing. If it wasn't, then your testing is also inadequate, and that is another reason that I should doubt that your product is doing my taxes correctly.
April 1, 2025
9:40 AM
One issue could be a carryover QBI loss from the previous year. That would reduce you current year QBI income by losses sustained in previous years.
Another issue could be if you reported divid...
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One issue could be a carryover QBI loss from the previous year. That would reduce you current year QBI income by losses sustained in previous years.
Another issue could be if you reported dividends or capital losses in your business entries that would limit your QBI income.
Also, you need to subtract from your business income any self-employment tax deduction, self-employed health insurance or self-employed retirement plan contributions to arrive at your QBI income on which the 20% is applied.
@RKG2
April 1, 2025
9:40 AM
I figured out the problem. I had gotten to the section where I select either deduction or credit for foreign taxes before I had entered all of the 1099-DIVs. The ones I entered after that were not in...
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I figured out the problem. I had gotten to the section where I select either deduction or credit for foreign taxes before I had entered all of the 1099-DIVs. The ones I entered after that were not included in the total on Form 1116. I just went through that section again, checked the new 1099-DIVs, and now they show up in the number on Form 1116.
April 1, 2025
9:40 AM
1 Cheer
You may tell the software that you were a full-time student.
In TurboTax Online, the Saver's Credit or Retirement tax credit may be accessed as follows:
Down the left side of the scree...
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You may tell the software that you were a full-time student.
In TurboTax Online, the Saver's Credit or Retirement tax credit may be accessed as follows:
Down the left side of the screen, click Federal.
Down the left side of the screen, click Deductions & Credits.
Click the down arrow to the right of Retirement and Investments.
Click to the right of Retirement Savings Contribution Credit.
April 1, 2025
9:38 AM
I realize that I was a little cryptic in posing my question. My specific issue was in determining the prior year's tax liability (for purposes of determining required estimated payments and withhol...
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I realize that I was a little cryptic in posing my question. My specific issue was in determining the prior year's tax liability (for purposes of determining required estimated payments and withholding for the current year) for each spouse when they filed single in 2023. I was unable to find anything specific in the Community or TurboTax help, but I believe that it is as simple as just adding the two prior year taxable incomes together. TurboTax is pretty oblique on this -- the input of the prior year's actual tax liability is a manual entry in the Federal Carryover Worksheet, P2, Line 6. In transferring this amount to Form 2210, TurboTax applies the 110% "safe harbor" in the background. Everything then flowed correctly through the Form 2210. Thanks for responding, but I believe that my question has been answered. Maybe this will save time for someone else.
April 1, 2025
9:38 AM
have you tried scrolling down on that window? sometimes the window is larger that what can be displayed a one time.
April 1, 2025
9:38 AM
Here's how to manage your personal data in TurboTax.
@carol-westerfield
April 1, 2025
9:37 AM
@Redcross48
Phone support is not provided with the Free Edition. If you are using a paid version of the software or if you purchased PLUS you can get phone support when customer support is there. ...
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@Redcross48
Phone support is not provided with the Free Edition. If you are using a paid version of the software or if you purchased PLUS you can get phone support when customer support is there. Otherwise, post your question here and someone will try to help.
To call TurboTax customer support
https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/contact-turbotax/L2y9ZKpQB_US_en_US?uid=m5s9l2vh
April 1, 2025
9:37 AM
It was a typed error and I have tried numerous times to to change it
Topics:
April 1, 2025
9:37 AM
1 Cheer
No. Taking actual expenses does not have a down side other than not being able to switch back and forth as some years one works out better than the other. But for the first year, the bonus deprecia...
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No. Taking actual expenses does not have a down side other than not being able to switch back and forth as some years one works out better than the other. But for the first year, the bonus depreciation can be worth more now than the concern for being able to use mileage in the future.
April 1, 2025
9:37 AM
1 Cheer
It depends. You can always add more to your 401(k)s or HSA. The maximums for 2025 are shown below.
The 401(k) contribution limit for 2025 is $23,500 for employee salary deferrals, and $70,000 fo...
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It depends. You can always add more to your 401(k)s or HSA. The maximums for 2025 are shown below.
The 401(k) contribution limit for 2025 is $23,500 for employee salary deferrals, and $70,000 for the combined employee and employer contributions. If you're age 50 to 59 or 64 or older, you're eligible for an additional $7,500 in catch-up contributions.
For 2025, the maximum HSA contribution limit is $4,300 for self-only coverage and $8,550 for family coverage, with an additional $1,000 catch-up contribution allowed for those age 55 and older.
It doesn't hurt to have an additional amount withheld just to get you close to even based on the following formula. Take the balance due for 2024, divide it by the number of pay periods remaining in 2025 (split it for each of you or have only one of you add it to your W-4. Enter the amount on Line 4(c) of the W-4 form.
Key Point: Eliminate any underpayment penalty by using the following information if necessary.
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.