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It depends. You can take the first rental asset out of service, then enter a new asset for the full amount of the cost and indicate it was rented 100% of 2024 at fair rental value (FRV), assuming this is the case. In the original asset indicate it was 'Sold, traded, etc..... then select either 'Special Handling' or it was converted to personal use when it comes up. This just stops the activity for this asset. Be sure to put the date removed from service. Add the new asset that has become fully rental. Keep the records for the depreciation you have already used on the property. It will be needed when and if you sell the property in the future. All depreciation will be recaptured at that time.

Take a look at the following TurboTax help article in case this is the reject code you are seeing.  If this is not the code you see, you can post it here and we can help you learn what to do.   What is E-file reject code IND-147?  

Same here. None of these methods would resolve my issue. Turbo tax needs to recognize/validate against the PC ID. But so far, it's a broken process. Even when an issue arises, there is lack of product/tech support (no phone number or online chat option) listed on the website. Users have to dig into the community forum to locate the support info.    

It depends. If  you received income for services you performed, that were not as an employee, then that is self employment which means you have a business for tax purposes.   If you don't actively pursue work for livelihood and on a regular and consistent basis, then it may be miscellaneous income such as hobby or something else.   You can decide if it is hobby or business income. Once you decide you can use the information below to report the income.    This IRS link will help you: Business or Hobby? Key elements: A hobby requires you to report the income you received and under the current tax law, Tax Cuts and Jobs Act (TCJA), no expenses are allowed to be used to reduce the money collected even if you itemize deductions. A business allows you to deduct the costs necessary to obtain the income.  The law explains that 'you must be engaged in the activity to produce a profit'.  The test under IRS tax law is that you must show a profit three out of every five consecutive years to be considered a business.   Where do I enter Schedule C? Other Miscellaneous Income: If you use this and you entered an income document you may need to delete that document first. Sign into your TurboTax Online account Go to Tax Home (left panel)  Wages and Income  section Scroll to  Less Common Income > Select  Miscellaneous Income, 1099-A, 1099-C Select Other reportable Income > Enter a description (----) and the amount

Sometimes states can take longer to accept returns during busy times, such as around the opening and closing of tax season. As long as your return was transmitted by the deadline, it will be considered timely filed even if it takes a few days for the state to accept.

Hurricanes in FL that have been declared disaster events, you can claim disaster losses, but you cannot claim rental payments.  The loss is the amount that is equal to the devaluation in your property.  Other expenses that are not related to the devaluation of your property are not part of casualty losses for personal property.    If your property is personal-use property or isn't completely destroyed, the amount of your casualty loss is the lesser of: The adjusted basis of your property, or The decrease in fair market value of your property as a result of the casualty

Thanks for the reply.  If I go the route of withdrawing more excess, how do I determine how much extra to withdraw to try to avoid this circular outcome?  The money will have earnings on both my and my spouse's excess contributions, so just trying to understand how this does not continue to increase our taxable income and result in further excess contributions.    Also, if I choose to go the route of recharacterizing this last portion that is showing as excess to a traditional IRA, what do I need to reflect on the 2024 Tax Return, and do I need to do anything for 2025?    Thanks for the help.