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April 27, 2025
10:49 AM
it's not
2023
annuity $25,000
social security $27,000 (not sure if this is 100% or taxable portion)
wages almost $13,000
that's gross taxable income of $65,000 or less. as a single person u...
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it's not
2023
annuity $25,000
social security $27,000 (not sure if this is 100% or taxable portion)
wages almost $13,000
that's gross taxable income of $65,000 or less. as a single person under 65 with a standard deduction of about $14,000 that leaves taxable income at $51,000. federal taxes should be about $6500 which is way less than the $8855+ 5786 + taxes on wages.
have no clue as to what is happening
for 2024, $28,000 in social security taxed at $19,000 is also impossible that's a tax rate of almost 69%. the top federal tax bracket is only 37%. also the maximum social security that is taxed is 85% so if $28K is 100%, 85% is about $24K making the tax rate close to 80%
have no idea what you are doing or what your return looks like, but the tax numbers seem entirely unrealistic.
April 27, 2025
10:49 AM
So if income is less than 45k next year, sell the house next year. Zero CGT.
April 27, 2025
10:47 AM
What type of Business tax return did you complete for 2023? Partnership, S Corp, C Corp, Multi-member LLC?
If any of these then you had to use the TurboTax Business Edition to complete and file th...
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What type of Business tax return did you complete for 2023? Partnership, S Corp, C Corp, Multi-member LLC?
If any of these then you had to use the TurboTax Business Edition to complete and file the tax return. The Business Edition does not support personal tax returns, Form 1040.
What 2023 TurboTax program did you use to complete your personal tax return, Form 1040? The TurboTax online web-based editions or the TurboTax desktop edition where the software was installed on your personal computer?
April 27, 2025
10:47 AM
@MikePrime108 as long as you have supporting documentation that the money was used on home improvements that extend the life of your home, and you don't exceed $750,000 in total debt (including the f...
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@MikePrime108 as long as you have supporting documentation that the money was used on home improvements that extend the life of your home, and you don't exceed $750,000 in total debt (including the first mortgage), you'll be fine.
April 27, 2025
10:42 AM
April 27, 2025
10:39 AM
Saw a similar post from 2021 with the exact same problem, the only response was to do the amended return manually. Unfortunately, that still doesn't explain why this is happening and if there is any...
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Saw a similar post from 2021 with the exact same problem, the only response was to do the amended return manually. Unfortunately, that still doesn't explain why this is happening and if there is any other way around it. Tried the typical hints and it made no difference. I don't think I was signed in to Intuit when doing the original return or working on the amended. Shouldn't matter anyway, as once the software was downloaded to Windows and licensed properly we don't need to sign in to Intuit. Is there no other workaround? Screenshots attached.
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April 27, 2025
10:36 AM
Wife and I contributed total of $63,000 to our son’s Virginia 529 plan in 2024 so we need to file 709. Wasn’t aware that it also had to be done before 15th April. So from what I understand, I can sup...
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Wife and I contributed total of $63,000 to our son’s Virginia 529 plan in 2024 so we need to file 709. Wasn’t aware that it also had to be done before 15th April. So from what I understand, I can superfund the 529 plan, and not have the excess amount count towards the lifetime estate limit. My wife contributed $32,000 from our joint bank account to a 529 account she owns (beneficiary is our son), and I contributed $31,000 from our joint bank account to a 529 account I own (beneficiary is our son). Question: Do we file separate Form 709 claiming $13,000 in my form and $14,000 in her form? What is the answer to line 19 question “Did you and your spouse make gifts to third parties?” If it’s “Yes”, then do we consent to gift splitting and send both our forms in the same envelope? Is there a penalty for filing Form 709 late even if we don’t have to pay any gift taxes? Can we superfund the 529 again in 2025… …having done it in 2024? If yes, then, I can contribute to $25,000 and she can contribute to $24,000 without incurring any gift taxes, correct? Thanks!
April 27, 2025
10:31 AM
@CourtneyDee that is not how it works. you are subject to capital gains if the SUM of your ordinary income PLUS your capital gains exceeds $48,350. In your case your taxable income is $50,0...
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@CourtneyDee that is not how it works. you are subject to capital gains if the SUM of your ordinary income PLUS your capital gains exceeds $48,350. In your case your taxable income is $50,000 *.85 = $42,500 + $500,000 less the standard deduction of $17,000 or $527,500. The tax would be The ordinary income tax on $42, 500 (less $17, 000) would be $2,822. The capital gains tax on $500,000 would be 0% tax bracket: $0 on the first $20,850 15% tax bracket on the remaining $479,150 : $71,873. The Net Investment Income Tax would be $342,500 * 3.8% or $13,015. So the total tax would be $87,710. Also, your 2027 Medicare premiums would be subject to IRMAA. (Figure around for $7,000 for that one year and that one year only). If there was just the social security income of $50,000 and nothing else, there would no federal income tax.
April 27, 2025
10:31 AM
it isn't
2023
annuities $25000 taxed at almost $9000 which is almost 36%.
social security $27000 (not sure if this is 100% or the portion that is taxable) taxed at almost $6000
wages $12900 t...
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it isn't
2023
annuities $25000 taxed at almost $9000 which is almost 36%.
social security $27000 (not sure if this is 100% or the portion that is taxable) taxed at almost $6000
wages $12900 taxed at ?
total income is
April 27, 2025
10:29 AM
1 Cheer
Form 4562, mostly shows current year depreciation information. This is why there is not a lot of information on your prior year asset depreciation information.
@kare2k13
April 27, 2025
10:25 AM
2 weeks ago myself and 2 turbo persons could not get past the 1095 form tried for 41/2 hrs pretty sure need this form.
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April 27, 2025
10:24 AM
https://ttlc.intuit.com/community/choosing-a-product/help/how-do-i-switch-from-turbotax-online-to-the-turbotax-software/00/26129
April 27, 2025
10:23 AM
Are you trying to determine your filing status? Since you have no dependents and do not mention being married, it sounds like you should be filing as Single. You cannot file as Head of Household i...
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Are you trying to determine your filing status? Since you have no dependents and do not mention being married, it sounds like you should be filing as Single. You cannot file as Head of Household if you do not have a qualified dependent.
April 27, 2025
10:22 AM
I purchased the Online version of Turbotax Deluxe and I want to switch to the Desktop version of Turbotax Premier. I can’t see how to do that.
April 27, 2025
10:19 AM
No one will be preparing/filing a 2025 return until next year in 2026. If you use online Live now it will be for your 2024 return. Not sure if the "expert" will provide help for 2025 tax question...
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No one will be preparing/filing a 2025 return until next year in 2026. If you use online Live now it will be for your 2024 return. Not sure if the "expert" will provide help for 2025 tax questions, but that might depend on what the questions are about.
LIVE ASSISTED
https://turbotax.intuit.com/personal-taxes/online/live/how-it-works.htm
April 27, 2025
10:16 AM
April 27, 2025
10:13 AM
See this TurboTax support FAQ for removing Live Assist - https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-subscriptions/remove-turbotax-live/L3WW5jwOM_US_en_US?uid=m9zwrftk
April 27, 2025
10:12 AM
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April 27, 2025
10:06 AM
thank you Mike!
April 27, 2025
10:06 AM
@Kiahgarriga wrote:
Hello I need a breakdown for my taxes for 2022 and 2023
To access your prior year online tax returns sign onto the TurboTax website with the User ID you used to create...
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@Kiahgarriga wrote:
Hello I need a breakdown for my taxes for 2022 and 2023
To access your prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/
Start the 2024 online tax return by entering some personal information then click on Tax Home on the left side of the screen.
On the Tax Home webpage -
Scroll down to the section Your tax returns & documents. Click on the Year and Click on Download/print return (PDF)
If you used the desktop CD/Download editions installed on your computer, the only copy of your tax data file and any PDF's will be on the computer where the return was created. TurboTax does not store online any returns completed using the desktop editions.
Or go to this IRS website for free federal tax return transcripts - https://www.irs.gov/individuals/get-transcript
For a fee of $30 you can get a complete federal tax return from the IRS by completing Form 4506 - http://www.irs.gov/pub/irs-pdf/f4506.pdf