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Thanks again. I looked at it again and I think I have it. For each improvement asset, when the question is asked if you used it for the entire year, if you answer no it asks you when you stopped/sold... See more...
Thanks again. I looked at it again and I think I have it. For each improvement asset, when the question is asked if you used it for the entire year, if you answer no it asks you when you stopped/sold it. This is different than when it asks the question for the property, where answering No means you stopped using it for business sometime before it was sold. Thanks.
I efiled (desktop TurboTax Premier) and first received rejection texts and emails for all my returns.  TT didn't ask me for my super secret PIN so I hadn't entered it.  The software directed me on th... See more...
I efiled (desktop TurboTax Premier) and first received rejection texts and emails for all my returns.  TT didn't ask me for my super secret PIN so I hadn't entered it.  The software directed me on the fix, which I did and I re-filed.  I then received texts and emails saying all my returns were accepted, and the software shows them as accepted.  About 3-4 hours later, I received texts saying all my returns were rejected.  No emails this time, and the software still shows them as accepted.  I checked on the IRS site but it said it could take 21 days after filing to "process".  How do I know whether my returns were accepted or rejected?
I'm not the person you should be thanking.  Credit for sorting this out goes to @nexchap and @Mike9241 .   I get my investing information from a number of places.  Energy Transfer sounded like a gr... See more...
I'm not the person you should be thanking.  Credit for sorting this out goes to @nexchap and @Mike9241 .   I get my investing information from a number of places.  Energy Transfer sounded like a great deal, it paid dividends far in excess of what you could get through treasuries and most dividend paying stocks.  What none of the investing articles mentioned what how how much of a pain the K-1s and later the K-3s create for the average person.  Before I invest in anything now, I check to see if dividends are reported on a K-1 or 1099.
Include in income the amount from box 1a.   IRS form 1099-K Instructions, page 4, states:   Box 1b. Card Not Present Transactions    Enter in box 1b the gross amount of the total reportab... See more...
Include in income the amount from box 1a.   IRS form 1099-K Instructions, page 4, states:   Box 1b. Card Not Present Transactions    Enter in box 1b the gross amount of the total reportable payment card/third party network transactions for the calendar year where the card was not present at the time of the transaction or the card number was keyed into the terminal. Typically, this relates to online sales, phone sales, or catalogue sales. Gross amount means the total dollar amount of total reportable payment transactions for each participating payee without regard to any adjustments for credits, cash equivalents, discount amounts, fees, refunded amounts, shipping amounts, or any other amounts. The dollar amount of each transaction is determined on the date of the transaction.   @canalesjuanita 
If you are using the TurboTax online editions, to get Audit Defense you would need to purchase the optional Max Benefits See this TurboTax support FAQ for how to get Max Benefits - https://ttlc.int... See more...
If you are using the TurboTax online editions, to get Audit Defense you would need to purchase the optional Max Benefits See this TurboTax support FAQ for how to get Max Benefits - https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-product-orders/get-max/L9ZW1BYc5_US_en_US?uid=m9frleju   If you are using the TurboTax desktop editions, the option to purchase Audit Defense will be in the File section of the program.
You can add his income to whichever category he has income.    For example, if he has a W-2, you will add your husband's W-2 in the same section you added your own.   Click on Federal Taxe... See more...
You can add his income to whichever category he has income.    For example, if he has a W-2, you will add your husband's W-2 in the same section you added your own.   Click on Federal Taxes,  Wages & Income,  Job (W-2),  Add/Edit On the next page select Add a W-2 Choose your husband's name Then, fill out the information from the W-2
The instructions are similar for TurboTax Online or one of the desktop versions of the program.  The main difference being that when using the Online version, the navigation steps are centered on sta... See more...
The instructions are similar for TurboTax Online or one of the desktop versions of the program.  The main difference being that when using the Online version, the navigation steps are centered on starting with the menu on the left side of the screen and often you need to click a down arrow to expand a category.  Using a desktop version, the navigation begins at the top of the screen and all the categories are fully expanded already.  The highlighted terms in the guidance are generally the same for either version.   You would not use TurboTax to pay estimated taxes for 2025, but you can use the program to generate your vouchers so that you can pay by check or online directly to the IRS.  See the following TurboTax help article to get started with creating your estimated payment vouchers:   How do I print estimated tax vouchers?   @jamesmac007   
Yes, when using the actual sales tax paid method for itemized deductions you may include tax paid on all items, including groceries and auto insurance.  
NOTE: The following applies to users who will be paying quarterly Colorado estimated taxes in 2025.   I think that the 2024 TurboTax calculation of the Colorado quarterly estimated tax payment is i... See more...
NOTE: The following applies to users who will be paying quarterly Colorado estimated taxes in 2025.   I think that the 2024 TurboTax calculation of the Colorado quarterly estimated tax payment is incorrect.    During Step-by-Step, if user selects "100% (110%) of 2024 taxes", which is the default option, it appears to use the current year's CO tax (Form 104, line 12) less the TABOR State Sales Tax Refund amount (Form 104, line 35).    However, the Colorado Individual Income Tax Guide (link below) specifically says to exclude the "Sales tax refund credit" (Part 7. "Estimated Tax Payments: Net Colorado tax liability") when calculating the estimated tax amount. This makes some sense, because the actual TABOR sales tax refund changes from year to year, and is not released until around mid-October.  https://tax.colorado.gov/individual-income-tax-guide  Note that this is not the same document as the "104 Book" that contains forms and line-by-line instructions. Caveat: the CO Guide also lists other exclusions which may or may not apply to a given user; I did not check to see how TurboTax handles those other exclusions.   What this means is that if you use TurboTax's 2025TY CO estimated tax calculation, you will be paying less each quarter than you should be. This can be verified by adding the Tabor sales tax refund amount to the amount on the TurboTax CO Estimated Tax Worksheet, Part 1, line 1a. The resulting amount should match Form 104, line 12.    Whether the amount of the quarterly estimated tax underpayment is important will depend on each user's individual tax situation. You could always increase your estimated tax payment each quarter and just amend the amount shown on that quarter's voucher.   This was still an issue in TurboTax as of 4/9/2025.  Also note that I'm not a tax expert - am just reporting what I found while checking my return.   cc: @KrisD15
You'd essentially prorate your maximum contribution by the number of months you had coverage. The maximum contribution is $4,150 for Self coverage or $8,300 for Family coverage, plus an additional $1... See more...
You'd essentially prorate your maximum contribution by the number of months you had coverage. The maximum contribution is $4,150 for Self coverage or $8,300 for Family coverage, plus an additional $1,000 if you're 55 or older. You're considered to have coverage for each month that you were covered on the first day.   So if your coverage started May 1, you'd be covered for 8 months for 2024, or 75% of the year. Multiply that 75% by your max contribution and you'll have the amount to include on line 3.
I mistakenly answered "No" to the question when I first started my return and I need to change my answer to "Yes".
Only one of us has income from MA
Try entering the SSN in the format xx-xxxxxxx.
TurboTax is having me go right to the state return without my spouses income
Turbo tax has already taken my money for this frustrating and maddening experience.
Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.   If accepted by the state use this ... See more...
Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.   If accepted by the state use this TurboTax support FAQ to check the state tax refund status - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...
Thanks for responding.
Federal and state refunds come from completely separate entities,  There is no rule as to which one will come first or how much time there will be between their arrivals.  Some states process returns... See more...
Federal and state refunds come from completely separate entities,  There is no rule as to which one will come first or how much time there will be between their arrivals.  Some states process returns quickly and some are very slow.   STATE RETURN Make sure your state return was accepted:  https://turbotax.intuit.com/tax-tools/efile-status-lookup/   To track your state refund:       ttps://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0