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April 6, 2025
6:51 PM
Interest earned on EE Savings Bonds, even if redeemed at a Massachusetts bank, is not considered Massachusetts bank interest. Massachusetts bank interest typically refers to interest earned from savi...
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Interest earned on EE Savings Bonds, even if redeemed at a Massachusetts bank, is not considered Massachusetts bank interest. Massachusetts bank interest typically refers to interest earned from savings accounts, checking accounts, or certificates of deposit at banks located in Massachusetts.
Here are a couple of key points:
Federal Taxation: Interest from EE Savings Bonds is subject to federal income tax but is exempt from state and local taxes.
Massachusetts Bank Interest: This term specifically applies to interest earned from accounts at banks or financial institutions within Massachusetts
Original Post
April 6, 2025
6:51 PM
Can I assume that would not apply to the LTCare payroll deduction in WA State? That you can deduct this as an additional state payroll tax?
April 6, 2025
6:50 PM
It's a small law firm that I've worked for for 25 years. I've used TurboTax for years and this never occurred before.
April 6, 2025
6:50 PM
Spent over an hour to troubleshoot and eventually referred directly to the IRS for assistance.
April 6, 2025
6:49 PM
To qualify for the home heating credit, you must meet all of the following:
You own or were contracted to pay rent and occupied a Michigan homestead
You were NOT a full-time student who w...
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To qualify for the home heating credit, you must meet all of the following:
You own or were contracted to pay rent and occupied a Michigan homestead
You were NOT a full-time student who was claimed as a dependent on another person’s return
You did NOT live in college or university-operated housing for the entire year
You did NOT live in a licensed care facility for the entire year
Your income was within the limits in Table A and Table B
You can use this link for additional information on your credit: michigan.gov
April 6, 2025
6:47 PM
I have always been able to download the TT online having a code when I purchased the software at a big box store. For the 2024 tax year I decided to try to download the software directly from Intuit/...
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I have always been able to download the TT online having a code when I purchased the software at a big box store. For the 2024 tax year I decided to try to download the software directly from Intuit/TT and am getting a message that says: "Another installation is in progress. You must complete that installation before continuing this [TT 2024] one.". I've tried everything I know to do, including calling TT helpline....though they were no help. I tried finding programs that are installing on my computer and don't see any. I've tried the turn the computer off and on. Etc. Help!
April 6, 2025
6:47 PM
2 Cheers
You enter the sale in the same section where you would enter the sale of stocks or bonds. To enter:
Type "Investment sales" in the search window and click Enter
Click on "Jump to Investm...
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You enter the sale in the same section where you would enter the sale of stocks or bonds. To enter:
Type "Investment sales" in the search window and click Enter
Click on "Jump to Investment sales"
On the page with "Did you have investment income in 2024?" Answer Yes
On the Import your data now page, click on "Skip Import"
On the page with "OK, let's start with one investment type" select "Other"
Enter the name of the person or entity that brokered the sale (you can leave this blank)
On the "Now enter one sale..." Select either "Land..." either personal use or other investment purpose, depending on how you have used the land.
Enter the details of the sale
April 6, 2025
6:47 PM
I used to use the CD now downloaded TT
Topics:
April 6, 2025
6:46 PM
According to CZ/US tax treaty, Czech social security benefits are fully exempt from U.S. tax even if the beneficiary is US citizen/resident. Article 19, subparagraph 1(b) - exception to the "saving" ...
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According to CZ/US tax treaty, Czech social security benefits are fully exempt from U.S. tax even if the beneficiary is US citizen/resident. Article 19, subparagraph 1(b) - exception to the "saving" clause. Is benefit reportable on 1040? If so, would second entry in Other Income with notation "treaty based" with same amount in negative be acceptable? i don't need to fill 8833 but not certain about reporting requirement. On California side, which does not honor provisions of tax treaties it simply asks for US Fed excluded income and plugs it in as ordinary income. That is very straightforward.
April 6, 2025
6:44 PM
Thank you.
April 6, 2025
6:44 PM
Topics:
April 6, 2025
6:44 PM
Thank you!
April 6, 2025
6:44 PM
April 6, 2025
6:43 PM
I am doing 2024 taxes but I missed an amount owed on 2023 axes so it, plus a penalty was paid in 2024. I don't think it's deductible but I want to be sure.
April 6, 2025
6:42 PM
You can try to switch to efile. Click on Add a State to let you back into your retun. https://ttlc.intuit.com/community/e-file/help/how-do-i-change-from-mail-to-e-file-in-turbotax-online/00/26985
April 6, 2025
6:42 PM
April 6, 2025
6:41 PM
If there are no state taxes being withheld from your income reported on Form W-2, boxes 15 through 17 are usually left blank (empty) on the Form W-2.
To work around a state ID number, you can ...
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If there are no state taxes being withheld from your income reported on Form W-2, boxes 15 through 17 are usually left blank (empty) on the Form W-2.
To work around a state ID number, you can try to enter the Federal ID Number as a "replacement" for State ID number.
If the field asks you for a state ID number in a specific "state require" format, such as "6 numbers followed by two letters" you can enter a value that fits that format, in order to complete your return and e-file.
April 6, 2025
6:41 PM
April 6, 2025
6:41 PM
I'm looking to view a table of how the total taxes are broken down by category (ordinary income, capital gains, etc.) and their corresponding rates/amounts. I see the the Tax Summary option under th...
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I'm looking to view a table of how the total taxes are broken down by category (ordinary income, capital gains, etc.) and their corresponding rates/amounts. I see the the Tax Summary option under the Tools menu, but it doesn't offer the detail I'm seeking. Can the software generate such a table?
April 6, 2025
6:40 PM
Enter at Educational Expenses and Scholarships, under Deductions and credits (not at the 1099-MISC screen in the income section).
If you have a 1098-T, one of the follow-up questions will be d...
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Enter at Educational Expenses and Scholarships, under Deductions and credits (not at the 1099-MISC screen in the income section).
If you have a 1098-T, one of the follow-up questions will be do you have any scholarships not shown on the 1098-T. Enter the additional scholarship there.