All Posts

Unfortunately, TurboTax's price for preparing a state return is not based on refund amount.  I've had to pay for a state return even when my state refund was $0, or even when I owed state tax due.   If you've already paid and filed, then for future reference, some states have free state filing on their websites.   And the IRS has a list of several ways to file Federal for free, and in many cases a state return for free. https://www.irs.gov/file-your-taxes-for-free    

After spending an hour on the phone with Tech Support this tax season, was referred to the IRS to have them check how many returns have been filed under my phone number.  Honestly, felt like this was a long shot, as couldn't imagine the IRS tracking federal tax returns via phone numbers.  Really?  People change their phone numbers constantly, so that would be absurd that the IRS would track federal returns in that manner.  Once discussed with an IRS respresentative today, said the same thing.  This issue is definitely a TURBOTAX ISSUE, not the IRS.  So, am at the same point as last year, 2024 for 2023 tax year.  Have to manually print out all tax returns and mail them to the IRS.     After only submitting one efile, unable to efile the remaining four tax returns.  Not a paid tax preparer, but have our own taxes, four kids and our elderly parents and help with their taxes for the past 10 years out of the kindness of our hearts.  This is the second year with similar error message and after using TurboTax for the past 10 years, I WILL NEVER USE TURBOTAX AGAIN!!

Here is a way  to track down your W-2 forms online. Finding W-2s Online: IRS Wage and Income Transcript: You can access your W-2 information through the IRS by requesting a Wage and Income Transcript. This transcript includes data from information returns like W-2s, 1099s, etc. You can request this online by visiting IRS Get Transcript.  

Thanks it seemed to work.  The issues I had to work through had to do with "Proceeds".  According to the 8949 instructions it should be the Net amount I received; sold price minus ticketmaster fee.  However, using TurboTax I felt I was supposed to enter the sold price and later fill in the ticketmaster fee.  I ended up doing it both ways and ultimately ended with basically the same result.   On the 8949 instructions, it mentions using parentheses on column g for losses but TurboTax uses the minus sign, is this a known issue and does it matter?

To Amend, open your tax return and go to 'Other Tax Situations'.  Make sure you saved a copy of your original filed return first.  You should wait to amend until you've received your refund.  Amended returns are processed separately and can take months to process. You have up to three years to amend a return, so no rush.    You don't need your SSN to Amend.  Check the Personal Info section.  Your accepted return should have the correct info.     Here's more info on How to Amend a Tax Return.   @rajeshwor 

Thank you! I was not aware of this option. This seems to be the way to go. Should I categorize it by materials (plumbing, lumber, decor etc.), or by room (salon, bath), or just add it all up and list it as renovations?    Edit. I just noticed the <2% requirement. I bought the house a while ago for $165k so $3k (spent on bathroom) and $2k (spent on salon) is a bit more than the 2% of the original purchase price of the property.

No, if the sale is excluded from income, there is no filing requirement for Pennsylvania  Pennsylvania follows much the same rules for the exclusion from income as the federal exclusion from capital gains on home sale   Here are the rules for the exclusion for Pennsylvania: “State-Level Exclusions Pennsylvania law (61 PA Code 103.13(h)) allows certain individuals to exclude all gains realized on the sale of a home if the seller can prove they used the home as a primary residence and pass specific conditions. This exclusion allows the seller to avoid reporting capital gains as income and avoid state-level income taxes on the sale of a home in Pennsylvania. Individuals selling a home in Pennsylvania qualify for this exclusion if all of the following conditions are met: The date of disposition, also known as the date of sale, must be after December 31, 1997. The seller must have sold the home at any date starting from January 1, 1998, or later. The home sold must be a primary residence and meet the state's ownership and use tests. However, they are identical to the federal tests: two years of ownership and two years of use within the five years before the sale. Additionally, one of the two conditions below must apply: The seller must not have used the state-level exclusion to exclude capital gains on another house in the last two years. The seller is disposing of the home due to an “extraordinary and unforeseeable circumstance.” The law provides examples, such as unplanned changes in employment, unforeseen changes in health conditions, significant financial hardship due to an accident, or loss of property due to a casualty. “      

There are income limitations to contributing directly to a Roth IRA.  If you are single and your modified AGI is over $161,000, then you're ineligible to contribute directly to a Roth IRA.  Please reference this IRS document.   If you have an excess contribution, you can withdraw it by 4/15 to avoid the penalty (make sure you also withdraw any earning on the contribution). Or, you could contact Vanguard to recharacterized this a traditional IRA.  See: What if I made an excess Roth IRA contribution because my income is too high?  

Hi PatriciaV -   IDC in my case is for oil wells. California allows IDC deduction only for geothermal wells. So AMT is not applicable in my case.  In addition to K-1, I will add an income adjustment on California Schedule CA so that IDC deduction from 1040 is not included in California return.   Thanks!

Are you using Online TurboTax or desktop software?    Have you already efiled the return, or is it still in the preparation phase, and you just need to go back to correct something before filing?   If using Online TurboTax, have you paid for your product yet?