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April 14, 2025
6:50 PM
So the 1099 s has a cost basis of 100k, on turbo tax I turn that in 113,700 in my instance ?
April 14, 2025
6:49 PM
how can i correct this? my income is entered correctly
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April 14, 2025
6:49 PM
Yes, that is correct. TurboTax Online can only file one Federal Tax return. TurboTax Desktop can file up to 5 returns. If you used TurboTax Online you will need to create new accounts for each of...
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Yes, that is correct. TurboTax Online can only file one Federal Tax return. TurboTax Desktop can file up to 5 returns. If you used TurboTax Online you will need to create new accounts for each of your kids to file their returns now.
April 14, 2025
6:49 PM
Brilliant, James! Thank you so much. Never would have figured that out!
April 14, 2025
6:49 PM
That cannot be done....sorry.
The “summary” given to you by TurboTax must have confused you. That summary just nets out the difference between a refund you are getting and an amount you owe. Or ...
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That cannot be done....sorry.
The “summary” given to you by TurboTax must have confused you. That summary just nets out the difference between a refund you are getting and an amount you owe. Or it adds two refunds or tax “due” amounts together.
The federal and state treasuries are completely separate from each other.
Your state tax due cannot be paid from a federal refund.
And….your federal tax due cannot be paid from a state refund.
Neither refund can be used to pay the amount due to the other one.
If you owe tax due, you have to pay it yourself by the filing deadline on April 15, 2025.
If you have federal tax due you can pay by mailing your payment with the 1040V voucher, (which has the address printed on it, having the payment taken out of a designated bank account, or you can pay directly on the IRS website.
https://www.irs.gov/payments
https://ttlc.intuit.com/community/tax-payments/help/how-can-i-pay-my-federal-taxes/00/26212
https://ttlc.intuit.com/community/tax-payments/help/how-do-i-pay-my-irs-tax-due-with-a-check-or-money-order/00/26403
To apply for a payment plan with the IRS
Apply Online for a Payment Plan
You must pay your state tax due using the state’s preferred method of receiving payment. For most states that will be by making a payment to the state’s own tax website, or by mailing a check or money order.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0
April 14, 2025
6:48 PM
If your extension was rejected, then your payment has not been scheduled.
April 14, 2025
6:48 PM
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April 14, 2025
6:48 PM
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April 14, 2025
6:48 PM
I am traveling right now, thought the returns could be done e-filing, however I am not eligible for e-filing. Can Turbotax mail them to IRS for me?
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April 14, 2025
6:48 PM
Hi, I have this same problem, but on the Desktop version. I printed my returns to a PDF, but there is no 'cover page' with instructions for Federal filing. There *is* a cover page with instru...
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Hi, I have this same problem, but on the Desktop version. I printed my returns to a PDF, but there is no 'cover page' with instructions for Federal filing. There *is* a cover page with instructions for State filing, however. Would appreciate any help, thanks.
April 14, 2025
6:47 PM
How do I file for a federal extension with turbo tax
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April 14, 2025
6:47 PM
Business, other liabilities (short term and other)
April 14, 2025
6:47 PM
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April 14, 2025
6:46 PM
If you inherited the home, to report the sale of the house, go to: - Federal taxes - Wages & income - Scroll down to Investment Income - Click Start next to Stocks, Crytpocurrency, Mutual Fund...
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If you inherited the home, to report the sale of the house, go to: - Federal taxes - Wages & income - Scroll down to Investment Income - Click Start next to Stocks, Crytpocurrency, Mutual Funds, Bonds, Other - Skip the import and then choose Other to enter the information about the sale of the home.
April 14, 2025
6:46 PM
You need to cancel the amend and remove the items. Then select amend, then add the items.
April 14, 2025
6:45 PM
Your 401(k) contribution amount is reported in Box 12 with Code D of your W-2. There's nothing else that you need to report on your tax return.
Refer to the TurboTax article Where do I enter m...
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Your 401(k) contribution amount is reported in Box 12 with Code D of your W-2. There's nothing else that you need to report on your tax return.
Refer to the TurboTax article Where do I enter my 401(k) or Thrift Savings Plan (TSP) contribution and deduction? for more information.
April 14, 2025
6:45 PM
If you have already filed your taxes, you will have to set up installment payments directly with the IRS. You can apply for a payment plan (Form 9465) at the IRS Payment Plans and Installment Agreem...
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If you have already filed your taxes, you will have to set up installment payments directly with the IRS. You can apply for a payment plan (Form 9465) at the IRS Payment Plans and Installment Agreements website.
Click here to Apply online for a payment plan
Your specific tax situation determines which payment options are available to you. Payment options include full payment, a short-term payment plan or a long-term payment plan
The IRS does charge a user fee for setting up or reinstating an installment agreement.
Entering into an installment agreement can provide you with peace of mind that the IRS will not pursue any of the harshest collection methods at its disposal, but interest and penalty charges will continue to accrue on your unpaid tax balances
Click here for "Facts about IRS Payment Plans
April 14, 2025
6:45 PM
The instructions for form 8283 say
Do not complete this column for publicly traded securities held more than 12 months, unless you
elect to limit your deduction cost basis.
My stocks have been held ...
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The instructions for form 8283 say
Do not complete this column for publicly traded securities held more than 12 months, unless you
elect to limit your deduction cost basis.
My stocks have been held for more than 12 months. I don't elect to limit my deduction cost basis, but for some reason Turbotax fills in column g with the cost basis.