All Posts

You are tracking them. Each state has different rules for carryover. OR allows you to carryover the same as the federal but based on the state income and loss. See OAR 150-314-0110 – Allocation of Oregon Modifications which states:   Example: John is a nonresident of Oregon and has rental property in both Oregon and California. His loss from all rentals is $50,000 and from his Oregon rental $10,000. Federal law allows a deduction of up to $25,000 for rentals. John would show $25,000 loss in the federal column of Form 40N and $10,000 loss in the Oregon column of Form 40N. John claims the $10,000 loss for Oregon because the loss for a nonresident from Oregon sources is treated in the same manner as a passive loss for a full-year resident.  In the case of a nonresident, losses resulting from passive activities derived from or connected with sources outside Oregon are not deductible for Oregon purposes, regardless of a later change in the taxpayer’s residency.   @plawlor78 

https://ttlc.intuit.com/community/charges-and-fees/help/what-is-a-service-code/00/25646     HOW DO I GET AN AFFILIATE DISCOUNT? https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-account-billing/get-turbotax-affiliate-partner-discount/L4ViVaZOr_US_en_US?uid=m9hx2p93  

When you use desktop download software,your tax return is stored on your own hard drive or on any backup device you use like a flash drive.  It is not stored in online account with TurboTax.   Only returns prepared using online TT software are stored in that online account.

To clarify, did you miss your RMD? If yes, did you take the RMD in the correction window?   If answer yes to both questions and you had a RMD of $10,000 that you missed: Enter $10,000 on line 52a Enter $0 on line 53a (if you took no distribution) Leave 52b and 53b blank   If you didn't take the RMD during the correction window: Enter $10,000 on line 52b Enter $0 on line 53b (if you took no distribution) Leave 52a and 53a blank   If you are older than 73 then you can file Form 5329 without having a Form 1099-R: Click on "Search" on the top right and type “1099-R” Click on “Jump to 1099-R” Continue until the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen and select the type of account. TurboTax will walk you trough the questions and give you the option to fill out a waiver.

Looks like MT uses the Federal deduction amount to calculate the MT deduction.  So if you itemized there,  that COULD be the amount you will get on line 2 of MT Form 2 (adjusted federal itemized deduction).  Otherwise you get whatever the standard amount is for your filing status.  It is all calculated for you.

It sounds like you're having trouble adding a dependent to your TurboTax return. Here’s a step-by-step guide to help you: For TurboTax Online, go to the Personal profile screen. For TurboTax Desktop, open or continue your return and select Personal Info. Select Add another dependent/Edit if you need to add someone. Select the trash can icon next to the name of a dependent to remove them. We'll ask you to confirm before we take them off your return.' Reach back out if you meant something else.

You can upload documents to your TurboTax Online account after you sign into your account.   Click on Documents from the left side menu and upload your files.   You can upload receipts, forms and return copies, as a pdf and/or tax file.    You can upload 2025 docs at the end of the year.

For those who need to calculate QBI amounts of disallowed losses, my research indicates that if these are losses related to rental real estate, you need to back out mortgage interest paid in order to calculate the QBI amount.

I'm having the exact same problem.  I can't figure out why Line 4b is not zero.  I have not been converting every year, but sometimes every other year.  So while the previous contribution from 2023 is still sitting in the Traditional non-deductible IRA accumulating a little interest, which will be taxable, the majority of the contribution from the previous year should still not be deductible.  Anyone have any ideas what is going on?  This has worked perfectly fine in past years.  I'm using TT 2024 Home & Business.  

Thank you Amy! I read on IRS site on the lines if it is not regular and continued, but even though for example it may of been any chance of Bartering, and if it may of happened sometimes 4 or 5 times a year, not for sure but maybe partly was continued.   Not sure how to judge it.  I used a different software this year.  But I did file on my tax returns under Schedule C possibly I over reported the amounts.  Of course I can go back and Amend the returns for IRS and the State, but if there is a chance that I should have reported it would make me feel bad if I don't  leave it alone.  If there may be any mistakes regardless to what it may be, I don't know if IRS or NJ Taxation will notify me on their own, other than I did send an SS-8 to IRS today, but that was about a different tax topic mainly at least, and if I referred to Bartering at all it was indirectly.  

No.  You cannot deduct a tablet and a computer that you use for personal anything even if it is to manage your finances.  Unless it is for business finances, then you can add it as an asset and depreciate it