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@dburns1 @dev145 Thanks a lot. I see. Thus, I could deduct 60% of AGI. Is the 1098T or 529 good for adjusting the AGI?    What is the form number for the NYC city tax's education credits, donations and home credits?  

@KSB78  Pub 936 is an interpretation of the tax law but we are allowed to use any reasonable method to determine the amount of deductible interest that complies with the tax code. Everybody seems to agree that following the instructions in Pub 936 to calculate the aggregate average balance of the sold and purchased homes is not reasonable. I agree that it seems unfair to have to sum the averages together in most cases and have proposed your suggested method to others in the past. I do not, however, think it is reasonable in your case.   If you use an average balance of 860K and a 750K limit, the deduction would be 87.2% of your total interest. This is a significantly higher percentage than you will be allowed in 2026 when you have just the new home: 750K / 1.3M = 57.7%. Also, I believe that you stated your fist mortgage originated before Dec 16, 2017 which makes it subject to the 1M limit.   If you use the Exact Method (not in Pub 936 but allowed) you can deduct 100% of the interest on the sold home plus approximately (750K – 265K) / 1.3M = 37.3% of the interest on the purchased home. This should be similar to what you get from Turbo Tax or using the worksheet in Pub 936.

You are posting from TurboTax Live.  You can arrange for the Live help you are paying the extra fee for with your questions from 5 a.m. to 5  p.m. Pacific time.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-setup/connect-tax-expert-turbotax-live/L73wOZD5D_US_en_US?uid=m8zw1pbb   As an alternative ----you have been aggravated by this issue since April?   Have you considered just printing and filing by mail----if you had done that months ago you would be ahead of your current frustrated unfiled situation.     In order to get the code to e-file you must keep two tabs  -- windows-- open at the same time.   Keep one open to get the code.  Do not close it.   Enter the code into the software with your return  to e-file BEFORE you close the tab that gave you that code.   We sometimes see users who do not understand that.   

see if this helps but it's difficult because sometimes major mistakes are made making it impossible to properly balance thing. is the opening balance sheet the same as last year's closing balance sheet? for an S-Corp ending retained earnings (which because the prior year was negative can be different that what's shown for the AAA account      1) prior year negative balance 2a) if line 1 of schedule M-1 is positive reduce 1)  2b) if it's negative increase 1) 3) if there were distributions and the previous result is negative increase it. if positive reduce it.      basically, it's the same for a C-corp but you can look up distributions in schedule M-2 line 5   if you don't balance then it's likely something is wrong in other lines of the balance sheet. or the book profit/loss is wrong, or the distributions are wrong, or a combination         we have no access to your return or books or records.  if you still don't balance you may have to see a pro or see if Live is still available.    hopefully it's not an S-corp because the return is late even with an extension and you are incurring penalties each month late. 

depends on your printer. open the tax file. (for online you must pay all fees before you can print a specific page) go to file > print. a new window should open. select preview print copy. a new window listing all pages should appear. highlight the 1040 page with your mouse (this is to determine its page number). click on the printer at the top. the printer dialog windows should open. make sure to select your printer. on pages to print select "pages" check to see which page the first page of the 1040 is it should be 2 or 3. in the "pages" box enter that page number so only that page prints. select other options as needed such as orientation. various printers have different options. when ready click print. note that the full 1040 form is two pages.   with my printer before printing it shoows that on 1 of all the pages will print. can't say that all printers have this feature .  

Hi Sharon,   Thanks for your expert advise.  I found your advise useful, but I had another question.   I am also a Live in provider and I have 0.00 in my box 1 and box 16 of my W2.  However, when my tax accountant submitted electronically, he mentioned that he could not put a zero for my income but rather had to put an income of 1 dollar and then took that off at the bottom of the return.  He said that this is the only way that he could file the return electronically if I wanted to get the social security/Medicare withholding credit.  He said, otherwise, in order to show it as zero, he would have to print the return and we would have to mail it in.   Please advise if this is correct and if not, what do you advise to do.   Thanks again. 

Lots of marketing emails are going out to remind users to file if they have not filed; those emails might be generated by "old" accounts.      If you already filed your 2024 return, know it was accepted and that it has been processed by the IRS, you can ignore those emails.     If you do NOT know what happened with your return:     DID YOU E-FILE?   Did you e-file?   Did you go through all three steps of the FILE section and click a big orange button that said “Transmit my returns now?”     When you e-file your return you will get two emails from TurboTax.  The first one will say your return has been transmitted; the second one will tell you the IRS has accepted  or rejected your federal e-file.  If you filed a state return, there will be a third email (usually a day or two later) that tells you if the state e-file was accepted or rejected.   Check your e-file status:   https://turbotax.intuit.com/tax-tools/efile-status-lookup/    What does it say in your account?  Does it show that the return was accepted?   Or does it say something else---like "rejected," "printed," or "ready to mail?”  

Ok muchas gracias, entonces veré que puedo hacer para tratar de solucionar esto y recuperar el pasaporte de mi esposa. Y lo que me comenta del cierre del gobierno para tenerlo en cuenta y saber que tal vez sea mas lento. De ante mano muchas gracias y nuevamente una disculpa, es que de verdad estoy preocupado ya que mi esposa vive en Mexico y quizá el año entrante necesite su pasaporte entonces espero poder resolver esto y no se me compliquen las cosas