All Posts

You can use the plan to buy groceries and for restaurants for a student living off-campus. Keep a running total:Track all expenses. Generally you can’t exceed the amount given for the school’s room and board. You might ask the school for guidance for the limit to claim food expenses. 

And if you made any after tax contributions the plan will keep track of them and when you take a distribution it will be allocated and some will come out tax free.  So you won’t get taxed on them then.  

depends on the type of 457(b)...   if your contributions are going into a designated Roth account withinn the 457(b), then the contributions are not tax deductible; otherwise they should be deductible,   Ask your 457(b) Administrator whether your contributions are tax deductible, 

How or where did you change it?  You can’t change your bank info for refunds or tax due payments after you file.  If the bank rejects your deposit the IRS will mail a check to the address on your return.    When did you file?  Was it Accepted?   When you efile you get back 2 emails.  The first email only confirms the transmission.  The second email says if the IRS (or state) Accepted or Rejected your efile.   What does the IRS say?  IRS Where's my refund      Where's My Refund? | Internal Revenue Service

If your daughter used your account and your user ID to prepare a tax return after you had prepared your own return, her return overwrote yours---and sorry--yours is lost.   Your account was not "de-activated"---but she destroyed your return and it is gone now.    When you use online TurboTax you get one return per fee.       When you use online TurboTax software you get one return per fee.   Each return needs its own account and user ID.   If you use the same account and user ID for a second return, the second one overwrites the first return and it is lost forever.       https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-start-another-return-in-turbotax-online/00/25596  

Online is only good for 1 return per account.  So if she used your account then her return overwrote yours and your return is gone.   Account Recovery.  But don’t think this will help.   How to view all your accounts https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx It's common to end up with multiple accounts. First LOG OUT of whatever TurboTax account you're logged into right now. Then use this TurboTax account recovery website to get a list of user ID's for an email address. Run the tool against any email addresses you may have used https://myturbotax.intuit.com/account-recovery/ You can also request a transcript from the IRS https://www.irs.gov/individuals/get-transcript

The online software might come online in the next two weeks BUT it might not have all the forms yet that you need yet to make good projections.  It's been pretty crude & buggy so far for the desktop users....who get it earlier. _____________________ Try TaxCaster: Tax Calculator - Tax Refund & Return Estimator 2024-2025 | TurboTax® Official ____________________ or some folks find a different one to be better https://www.dinkytown.net/java/1040-tax-calculator.html   

If you regularly buy and sell items with the intent to make a profit, the activity is considered a business. In this case, you report income and expenses on Schedule C (Form 1040)and may need to pay self-employment tax in addition to income tax. The items you mentioned are expenses.