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April 14, 2025
11:43 AM
This is how you would report part of your home used as a rental, and choosing to enter your total expenses and having TurboTax compute the percentage allocated to rental expenses:
After you ente...
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This is how you would report part of your home used as a rental, and choosing to enter your total expenses and having TurboTax compute the percentage allocated to rental expenses:
After you enter the property address, under What Type of Rental is This? choose Single family (home or unit where a single family lives) if that's what it is.
Under Do Any of These Situations Apply to This Property? check I rent out part of my home.
Was This Property Rented for All of 2024? Yes
During the time this was a rental, was it always rented at a fair rental price? Yes
Do You Have an Office in Your Home? No (assuming that's true)
Let Us Calculate Your Expense Deductions For You. Choose yes or no. See the screenshot.
April 14, 2025
11:43 AM
It's based on your self-employment earnings, not your max AGI. So if your earnings from self-employment are not enough to support the deduction then you can't take the full amount.
@beth37
April 14, 2025
11:43 AM
What kind of LLC? Are you a Single Member LLC? Did you set it up as an S corp? If not an S corp it is a disregarded entity and you file it on schedule C in your personal tax return as self emplo...
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What kind of LLC? Are you a Single Member LLC? Did you set it up as an S corp? If not an S corp it is a disregarded entity and you file it on schedule C in your personal tax return as self employment. So you just do the extension for your personal tax return.
April 14, 2025
11:43 AM
a single-member LLC, that did not elect corporate taxation, is a disregarded entity for federal income tax purposes. it does not file its own tax return. Rather the results are included in you 1040. ...
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a single-member LLC, that did not elect corporate taxation, is a disregarded entity for federal income tax purposes. it does not file its own tax return. Rather the results are included in you 1040. What you need to do in this case is determine your overall tax liabilty. Pay it on or before 4/15 (some exceptions apply). if you can't file by 4/15 submit an extension Form 4868, but your taxes are still due as noted above.
April 14, 2025
11:42 AM
Topics:
April 14, 2025
11:42 AM
When I import from TD Ameritrade, 1099 DIV from Etrade (that is already imported) gets deleted. I find that it is still available in the imported list but it is removed from Schedule B. When I try to...
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When I import from TD Ameritrade, 1099 DIV from Etrade (that is already imported) gets deleted. I find that it is still available in the imported list but it is removed from Schedule B. When I try to address that by reimporting from Etrade, 1099 DIV from TD Ameritrade gets deleted from Schedule B. This is happening repeatedly. Anyone dealing with this problem? Any ideas on what's going on and how to fix this?
April 14, 2025
11:42 AM
Yes, you can.
However, if you expect chages to your W-2, you may have file an amended return.
You can file an extension. However, if you have no taxes due or expect a refund, you are not ...
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Yes, you can.
However, if you expect chages to your W-2, you may have file an amended return.
You can file an extension. However, if you have no taxes due or expect a refund, you are not required to file an extension.
If you have taxes due, you have to pay them with your extension,
Please read this TurboTax Help topic for instructions on how to file a Federal extension and this one on how to file a state extension.
April 14, 2025
11:42 AM
It depends on your state. Some states allow for efiled amendments, others you must mail.
April 14, 2025
11:42 AM
The answer to this issue depends on why TurboTax is looking for a Schedule C. If you are seeing this message in Review, what else is being shown on the screen with the Review message?
Did you e...
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The answer to this issue depends on why TurboTax is looking for a Schedule C. If you are seeing this message in Review, what else is being shown on the screen with the Review message?
Did you enter income from a Form 1099-NEC or 1099-MISC? Or a Form 1099-PATR? Depending on your answers to the questions in those sections, TurboTax may conclude that you have a business.
April 14, 2025
11:42 AM
The cost of the solar system may be reported as an improvement asset under your Rental Property.
For instructions on entering this asset, see How do I handle capital improvements and depreciat...
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The cost of the solar system may be reported as an improvement asset under your Rental Property.
For instructions on entering this asset, see How do I handle capital improvements and depreciation for my rental?
[edited 4/14/25 | 1:28 PDT]
April 14, 2025
11:41 AM
Yes, file an extension.
The extension gives you until October 15, 2025 to file your taxes without getting a failure to file penalty. You don't get extra time to pay your taxes so you must pay ...
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Yes, file an extension.
The extension gives you until October 15, 2025 to file your taxes without getting a failure to file penalty. You don't get extra time to pay your taxes so you must pay any taxes that you may have that are due by April 15, 2025 so you won't be assessed the failure to pay penalty.
Refer to the TurboTax Help article How do I file an IRS tax extension?. If you need to file a state extension, review the article How do I file an extension for my personal state taxes?
April 14, 2025
11:41 AM
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April 14, 2025
11:41 AM
Select Edit for the business on the "Here's the business info we have so far" screen
Go to "Business Expenses" in that section
@jen_moss
April 14, 2025
11:41 AM
If you received a Mortgage Credit Certificate (MCC) when you purchased your home the number will be on that certificate. You may not have one if your mortgage loan was not part of the program
...
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If you received a Mortgage Credit Certificate (MCC) when you purchased your home the number will be on that certificate. You may not have one if your mortgage loan was not part of the program
The mortgage credit certificate (MCC) from your state or local government that you would have received at the time of the purchase of your home. The MCC certificate is issued as part of state and local government programs to help people to buy a home.
The credit rate is the percentage used to calculate the mortgage interest credit, and is between 10% and 50% of the qualified mortgage interest you pay. The government agency who issues your MCC determines your mortgage credit rate.
The Mortgage Credit Certificate (MCC) Program offers qualified first-time homebuyers a Federal income tax credit. The credit can reduce potential Federal income tax liability, creating additional net spendable income for qualified first-time homebuyers to possibly use toward their monthly mortgage payments.
April 14, 2025
11:41 AM
You will want to file as a Georgia resident. In all but the rarest of cases, you retain the state residency of your Home of Record while you are Active Duty.
April 14, 2025
11:40 AM
1 Cheer
If you're trying to import your 1099-INT if your payor is not in the dropdown menu, they're not a partner with TurboTax and you'll have to manually enter your 1099-INT.
To enter in your interes...
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If you're trying to import your 1099-INT if your payor is not in the dropdown menu, they're not a partner with TurboTax and you'll have to manually enter your 1099-INT.
To enter in your interest, follow the instructions below:
Open TurboTax
Select Federal from the menu
Select Wages & Income
Select Show More at the section Investments & Savings section
Select Start next to Interest on 1099-INT
Select Enter a different way to type in your1099-INT.
Refer to the TurboTax articles Where do I enter Form 1099-INT?
April 14, 2025
11:40 AM
Topics:
April 14, 2025
11:40 AM
This is regarding the “I’m not at risk box..” . I unchecked this box, deleted form 6198. The box is still checked when I run smart check. Help! Very frustrated.
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