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May 8, 2025
2:35 PM
I owe and the amount is not showing up on the IRS site. Just says still processing, but seems like a long time. I would like to set up a payment plan, but it will not let me. Please advise.
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May 8, 2025
2:29 PM
IRS delays probably will increas due to turmoil and destruction caused by DOGE. 180 day delay is ridiculous. @antoinette-castillo13
May 8, 2025
2:27 PM
1 Cheer
You can get into your prior year TurboTax worksheets by electing to amend your 2022 return (even though you won't be amending). Please try accessing your depreciation worksheet by following the steps...
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You can get into your prior year TurboTax worksheets by electing to amend your 2022 return (even though you won't be amending). Please try accessing your depreciation worksheet by following the steps below: Open your return. Scroll down to Your Tax Returns & Documents. Click on the 2022 year. Click Amend (change) 2022 return. Click Amend using TurboTax Online. Once you elect to amend, click on Tax Tools on the left hand side. Click on Print Center. Click on Print, save, or preview this year's return. Click INCLUDE GOVERNMENT AND TURBOTAX WORKSHEETS (OPTIONAL). Click on View or Print Forms. After you retrieve your forms, click Cancel Amend on the left hand side. @Pkhang
May 8, 2025
2:26 PM
When you find out what it means you will be glad you declined there. @graves2gardenspodcast
May 8, 2025
2:18 PM
Typically, the IRS takes up to 21 days to process an e-filed return. However, there may be delays if your return needs corrections or an extra review. If it's been more than 21 days since you e-filed...
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Typically, the IRS takes up to 21 days to process an e-filed return. However, there may be delays if your return needs corrections or an extra review. If it's been more than 21 days since you e-filed, then please call the IRS directly at 1-800-829-1040.
Although the IRS does not post every letter and notice they mail, you may be able to see if they sent you any correspondence on your Online Account.
Why is my refund taking longer than 21 days?
May 8, 2025
2:04 PM
On a federal tax return, the state taxes withheld is entered on Schedule A as an itemized deduction. If you used the Standard Deduction on your federal return, the state taxes withheld will not be r...
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On a federal tax return, the state taxes withheld is entered on Schedule A as an itemized deduction. If you used the Standard Deduction on your federal return, the state taxes withheld will not be reported on the return.
May 8, 2025
2:02 PM
No, you cannot enter the rental property mortgage interest on Schedule A.
As stated on the Schedule A instructions for home mortgage interest - https://www.irs.gov/pub/irs-pdf/i1040sca.pdf#pag...
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No, you cannot enter the rental property mortgage interest on Schedule A.
As stated on the Schedule A instructions for home mortgage interest - https://www.irs.gov/pub/irs-pdf/i1040sca.pdf#page=7
A home mortgage is any loan that is secured by your main home or second home, regardless of how the loan is labeled. It includes first and second mortgages, home equity loans, and refinanced mortgages.
May 8, 2025
2:01 PM
I do not see anywhere on my copy of my tax return the paid amount of my state tax. I also for an expert to o
look over this return and still it does not show a state payment.
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May 8, 2025
1:57 PM
If there's no goal to make a profit, then income from the buttons could be be considered hobby income and not business income. "The key consideration for the IRS is that businesses operate to make a ...
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If there's no goal to make a profit, then income from the buttons could be be considered hobby income and not business income. "The key consideration for the IRS is that businesses operate to make a profit while hobbies are for pleasure or recreation. If you are only getting a small amount of income occasionally throughout the year from an activity, but aren’t making a profit, you likely have a hobby." See Hobby vs. Business Income. If you think you will owe $1,000 or more on your tax return, you should make estimated tax payments, unless you qualify for an exception. Estimated Taxes: How to Determine What to Pay and When
May 8, 2025
1:56 PM
My suggestion would be to use the numbers that are outlined by Form 461, Part I, for the calculation of the business loss excess. That Part does not ask for code AJ numbers, but rather information th...
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My suggestion would be to use the numbers that are outlined by Form 461, Part I, for the calculation of the business loss excess. That Part does not ask for code AJ numbers, but rather information that is reported on your Schedule 1.
Start with Schedule 1, and see what you have on lines 4 and 5 (the most common lines related to Schedule K-1 activity, but other lines may apply if you have a Schedule C, for example). The information from these lines will need to be entered in Part I of Form 461. You will then use Parts II and III to calculate the limitation. If you have a negative number on line 16 of Form 461, that will indicate your limitation, and that's what needs to be entered as a positive number on Schedule 1, line 8p.
May 8, 2025
1:51 PM
I have both rental income and regular income. If I itemize, can I put the mortgage interest in Schedule A as opposed to Schedule E? If the rental has been rented for the full year, can I split the ...
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I have both rental income and regular income. If I itemize, can I put the mortgage interest in Schedule A as opposed to Schedule E? If the rental has been rented for the full year, can I split the mortgage interest so long as the total mortgage interest is the sum of what is entered in Schedule A + Schedule E? Thanks
May 8, 2025
1:44 PM
No, you can't change it this year, but you will have the option to opt-in again next year.
May 8, 2025
1:36 PM
Same thing happened to me, except that the IRS caught the error and I have to pay add'l penalties and interest.
May 8, 2025
1:34 PM
Happened to me in 2025. Seems like a silly TT error.
May 8, 2025
1:11 PM
I cannot get a live person to help me pull my depreciation worksheet. They want me to pay $70 to talk to a tax expert. I don't need someone to help me do my taxes. I need to pull my 2022 depreciati...
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I cannot get a live person to help me pull my depreciation worksheet. They want me to pay $70 to talk to a tax expert. I don't need someone to help me do my taxes. I need to pull my 2022 depreciation worksheet which was filed in 2022. I don't need a robot's help.
May 8, 2025
1:04 PM
Not counting Social Security, were your retirement withdrawals and royalties over $7000? If so, your Schedule C loss would have offset that income and none of it would be carried to 2025. If tha...
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Not counting Social Security, were your retirement withdrawals and royalties over $7000? If so, your Schedule C loss would have offset that income and none of it would be carried to 2025. If that other income was less than $7000, you may have a "Net Operating Loss" (NOL). TurboTax does NOT calculate an NOL, so you would need to manually calculate that to manually carry over to 2025 (or go to a tax professional).
May 8, 2025
1:03 PM
does this deduction still hold true for 2024 taxes? If the cost is over the $2500, can you expense the 2500 and add the remainder to the basis?
May 8, 2025
1:00 PM
The cost of adding the logo is deductible. The cost of the clothing itself it not.
May 8, 2025
12:44 PM
The Minnesota Renter's Refund is now part of the 'regular' Minnesota income tax return. It is no longer a separate return on Form M1PR. Yes, you can file your Minnesota income tax return (which ...
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The Minnesota Renter's Refund is now part of the 'regular' Minnesota income tax return. It is no longer a separate return on Form M1PR. Yes, you can file your Minnesota income tax return (which included the Renter's Refund on Form M1RENT) with TurboTax.
May 8, 2025
12:42 PM
1 Cheer
I'm not exactly sure what you are saying. I don't use ID any more, partly for the reasons I will mention. But when I was using it, it was always the case that the values imported to the tax return ...
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I'm not exactly sure what you are saying. I don't use ID any more, partly for the reasons I will mention. But when I was using it, it was always the case that the values imported to the tax return were different (and usually lower) than the values shown during the year. If you look at the fine print, the values shown during the year are "estimates", and the final values are determined when you import the data into Turbotax. Supposedly there is a person or persons whose job it is to monitor thrift stores and internet sales to come up with reasonable average prices, and update the results as needed. The updates are only applied at tax time, to the imported figures, and are not applied continuously throughout the year to the "estimates".
This is just how they decided it will work. If you don't like it, use your own values.
In fact, there was at least one taxpayer who reported on this forum several years ago that their donations were audited, and the ItsDeductible values were denied by the IRS because the taxpayer couldn't show that the values were applicable to the particular items donated, in the condition donated, and taking into account regional geographic and economic variations. In other words, if the ID system values a used purse at $10, is that what someone would pay on eBay, or a thrift store in Manhattan, or a garage sale in Springfield MO? What level of wear and tear? What was the original cost?
In short, there is no guarantee that ID values will be accepted by an auditor, because they are not particular to the time, place, and value of the item.
For my donations, I keep a handwritten inventory, and I make specific notes about value, based on the prices charged by the Goodwill store where I make most of my donations. For some items (furniture, electronic equipment) I get values for comparable items from eBay (completed sales, not listings) or Facebook Marketplace. Sometimes I print out those records and staple them to my handwritten notes. Then, I group all the donations on one day together and enter the total value, rather than listing every specific item (e.g. 5/4/2025--Goodwill--clothing and household items--$XX). If needed, I have the written inventory to show the details to the IRS.
If you use ItsDeductible as a convenience, be aware of the limitations, and one of the limitations is that the "final" values are always different, and usually lower, than the "estimates" you get during the year.