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April 6, 2025
8:36 PM
just as it says. From the K-3. the amount on line 54 column F minus the amounts on those other lines in column F. what seems to be the issue? if any line is zero or blank, then ignore it.
April 6, 2025
8:35 PM
I would go back and amend prior years. If you did not report an unallowed passive loss on your California returns the past few years, it may be disallowed on your 2024 return.
April 6, 2025
8:35 PM
This really helped me this year!! Thank you for doing the hard work and leaving an answer back!!
April 6, 2025
8:34 PM
@SharonD007 Just want to be sure I'm doing this correctly. Do I need to provide receipts or some kind of proofs to show that I paid for all my parents expenses throughout the year? Or can I just...
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@SharonD007 Just want to be sure I'm doing this correctly. Do I need to provide receipts or some kind of proofs to show that I paid for all my parents expenses throughout the year? Or can I just make that determination based on the best of my knowledge and claim them as dependents? Are there any expenses that would not qualify? Thanks.
April 6, 2025
8:33 PM
I'm still confused on what category to use for the information in Box 14 of my W-2 (I'm in Colorado). And to add to this confusion, this year's Box 14 on my W-2 has two entries - one labeled FAMLI an...
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I'm still confused on what category to use for the information in Box 14 of my W-2 (I'm in Colorado). And to add to this confusion, this year's Box 14 on my W-2 has two entries - one labeled FAMLI and a second row labeled CO PFML (both have the same value - which agrees with the amount listed on my last 2024 paycheck). Last year it had just one entry. On this year's, it almost appears to be duplicative. I have not requested or received any family leave payments (so no 1099-G). So - should I categorize the FAMLI entry as "Other deductible state or local tax" (i.e., its deductible) and the CO PFML as "Other (not classified)" (i.e., not deductible)?
April 6, 2025
8:33 PM
Thank for the response. That is what I did for years, but defaulted to the online the last two years, but the default is premium, for $209. The downgrade option goes to basic. The must not offe...
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Thank for the response. That is what I did for years, but defaulted to the online the last two years, but the default is premium, for $209. The downgrade option goes to basic. The must not offer the Home and Business on line. I can (& will) purchase and download the Home & Business for $95. Hopefully my data will transfer in.
April 6, 2025
8:33 PM
I am trying to file an extension. But I owe federal taxes ($500) and am expecting a refund for California ($100). With my extension, do I need to submit $500 or $400?
April 6, 2025
8:32 PM
I recommend making sure your software is updated as well. The program is updated weekly and it's possible that your version does not have the latest updates loaded.
This can be done by logging int...
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I recommend making sure your software is updated as well. The program is updated weekly and it's possible that your version does not have the latest updates loaded.
This can be done by logging into your desktop product. Select Online in the menu on the top, and then select Check for Updates.
If that does not update your program, you can also manually update your program.
After making sure your program is updated, you can then use the option within TurboTax Desktop to preview the forms from the file menu. To do this, select File, Print, and on the pop up screen titled "Form Selection", select Forms to review or keep for your records and select 2024 Virginia Tax Return. Then, select Preview Print Copy. This will open your return in another window where you can save them as a pdf.
@tjpsnj
April 6, 2025
8:32 PM
April 6, 2025
8:31 PM
Is there any way to determine specifically why turbotax wont efile form 568? Using turbotax online and none of the listed reasons apply. I've tried restarting multiple times, selectively isolating ea...
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Is there any way to determine specifically why turbotax wont efile form 568? Using turbotax online and none of the listed reasons apply. I've tried restarting multiple times, selectively isolating each of the listed potential reasons to not efile. Regardless of how basic I make it, it will never offer an efiling option. My business return is essentially identical to last year where I was able to efile without issue. Not an amended return M1 set to no. U1 set to yes. All the value boxes that could limit it have no change when left either empty or set to 0. None of the schedule B boxes should impact it at all since I'm nowhere near the 3 million threshold. As far as I can tell, there is no situation where it would allow an efile.
Topics:
April 6, 2025
8:30 PM
@NicolleR1 I'm using the Windows version of TurboTax Deluxe and I don't see the options you shared in the screenshot. It only has a box for "1e Cost and other basis". Should I just ignored the $...
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@NicolleR1 I'm using the Windows version of TurboTax Deluxe and I don't see the options you shared in the screenshot. It only has a box for "1e Cost and other basis". Should I just ignored the $0 from my 1099-B box 1e and just directly enter the adjusted basis from the supplemental form there?
April 6, 2025
8:28 PM
This is the bottom of page and there's nowhere to amend or file state. I just went ahead and filed by paper today. I don't expect a refund but is there a way to check if it was approved? (ST...
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This is the bottom of page and there's nowhere to amend or file state. I just went ahead and filed by paper today. I don't expect a refund but is there a way to check if it was approved? (STATE 568 California)
April 6, 2025
8:26 PM
@CP058 , my personal favorite is Windows download of Home & Business. This covers the most complex cases and all the data is available on your own machine for future ref/usage. Of course this is ...
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@CP058 , my personal favorite is Windows download of Home & Business. This covers the most complex cases and all the data is available on your own machine for future ref/usage. Of course this is bit expensive.
April 6, 2025
8:25 PM
to report a 2023 non-deductible contribution, 2023 form 8606 must be attached. to report a 2024 non-deductible contribution, 2024 form 8606 must be attached. @jwillmas
April 6, 2025
8:25 PM
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April 6, 2025
8:24 PM
The purchase of a home with cash is not directly reportable on your tax return. However, you can deduct property taxes paid and add the purchase price to the cost basis of your home.
Here are t...
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The purchase of a home with cash is not directly reportable on your tax return. However, you can deduct property taxes paid and add the purchase price to the cost basis of your home.
Here are the steps to deduct property taxes in TurboTax:
Open or continue your return.
Navigate to the property tax section:
TurboTax Online/Mobile: Go to property tax.
TurboTax Desktop: Select Search Topics. Search for and select property tax.
Answer Yes to the question Did you pay property or real estate taxes?
Follow the on-screen instructions to enter your property/real estate taxes.
Read here how improvements can add to the cost basis of your home
Cost basis is essential for calculating capital gains or losses when selling an asset, ensuring tax efficiency, and maintaining accurate financial records. It includes adjustments for reinvested dividends, stock splits, and capital improvements. For more details, refer to IRS Publication 551.
April 6, 2025
8:24 PM
if your mother has died, the "cost" you use is fair market value on the date of her death. Add capital selling costs and the cost of subsequent improvements. You must figure the total yourself. Tu...
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if your mother has died, the "cost" you use is fair market value on the date of her death. Add capital selling costs and the cost of subsequent improvements. You must figure the total yourself. Turbotax provides no lines or boxes to enter these details. the is reported as a sale of a capital asset - Schedule D and the results should appear on line 4 of the 1041
if she is still alive, it raises the issue of whether or not the trust should be treated as a grantor trust. if so, the sale is reported on her 1040 (you use actual costs and selling expenses). Use the home sale worksheet since she would likely be entitled to the home sale exclusion. Despite being titled irrevocable, the IRS doesn't care. It's the provision of the trust in place while she is alive that matters. In this situation, ask the lawyer who drew up the trust document.
April 6, 2025
8:23 PM
1 Cheer
@eborshch from what you posted, it appears you should be able to file as HoH> Please try out this tool from the IRS -->
What is my filing status? | Internal Revenue Service
From Pub 501 ...
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@eborshch from what you posted, it appears you should be able to file as HoH> Please try out this tool from the IRS -->
What is my filing status? | Internal Revenue Service
From Pub 501 ---> Publication 501 (2024), Dependents, Standard Deduction, and Filing Information | Internal Revenue Service
"
Special rule for parent.
If your qualifying person is your parent, you may be eligible to file as head of household even if your parent doesn't live with you. However, you must be able to claim your parent as a dependent. Also, you must pay more than half the cost of keeping up a home that was the main home for the entire year for your parent.
If you pay more than half the cost of keeping your parent in a rest home or home for the elderly, that counts as paying more than half the cost of keeping up your parent's main home. "
Is there more I can do for you ?