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If this is a business building and not a home office, the general entry process is similar. The improvement is still entered as a business asset using the same asset type as the related building (nonresidential real estate property).   However, you may be able to write off these costs if you qualify for the Safe Harbor Election for Small Taxpayers. TurboTax will ask you about this election under the Assets/Depreciation section of your business. If you choose this election, you can expense up to $10,000 in costs that would otherwise be depreciated over a very long time.   @jrogers6167 

The only things you can deduct that appear on the escrow settlement document are real estate taxes and mortgage interest, and only if you didn't already include that real estate tax and mortgage interest on your return. The mortgage interest for the period stated on the closing statement may already be included in your Form 1098. See IRS Publication 530 for more information.   Other items on the closing escrow, such as real estate commissions, are treated as selling expenses when you calculate the gain on the sale. See IRS Publication 523 for more information.  

If you are using the downloaded version, (rather than TT Online) on the "Live Tax Advice" page, click "Skip for now" at the bottom, next to the "Buy Now" button. On the next page click "Continue" button. 

Your returns are linked to the ID and Password that you used in the year that you filed them.   If you forgot your user ID or password, but still have access to your phone or email on file, you can still access your account. This is the fastest way to access your account if you lost or forgot your credentials. Go to the sign-in help page. Enter the phone number, email address, or user ID for your account. If you enter a phone number or email address, we’ll send you a text or email with a verification code. If you enter a user ID, choose the method you prefer. Enter the verification code we sent, or follow the instructions in the message. We may ask you for more info to make sure it’s really you. When prompted, reset your password or select Skip. If you’re still unable to recover your account, select Sign in a different way.   For installation and software issues you can contact the TurboTax Support Phone Number   Edited: 04/08/2025 | 07:50 AM PST

IRS interview to help determine who can be claimed: https://www.irs.gov/help/ita/who-can-i-claim-as-a-dependent   WHO CAN I CLAIM AS A DEPENDENT?   You can claim a child, relative, friend, or fiancé (etc.) as a dependent on your 2024 taxes as long as they meet the following requirements: Qualifying child They're related to you. They aren't claimed as a dependent by someone else. They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident. They aren’t filing a joint return with their spouse. They're under the age of 19 (or 24 for full-time students). No age limit for permanently and totally disabled children. They lived with you for more than half the year (exceptions apply). They didn't provide more than half of their own support for the year. Qualifying relative They don't have to be related to you (despite the name). They aren't claimed as a dependent by someone else. They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident. They aren’t filing a joint return with their spouse. They lived with you the entire year (exceptions apply). They made less than $5050 in 2024 (not counting Social Security) You provided more than half of their financial support. When you add someone as a dependent, we'll ask a series of questions to make sure you can claim them. There may be other tax benefits you can get when you claim a dependent. Related Information: What does "financially support another person" mean?  

As far as the support test is concerned, you can claim him as your dependent if you furnish over half of his support. The money his mother gives you would affect that, assuming it was earmarked for his support. So, not considering that, you would have to provide over half of his support.

First of all, you wouldn't report this until you actually sell or close anything. The only exception is if you have to report these under the mark-to-market rules. These rules say you must treat open positions as if they were sold at fair market value at year-end. This ensures unrealized gains and losses are accounted for annually. if you are not sure whether this applies, chances are you aren't required to report this under marked to market rules.    If you are required,  you will report this as 1256 contract. This would be reported in the Contracts and Straddles section in the investment income section of TurboTax.    As you work through this section, the program will ask  any elections. Here check the box that says straddle by straddle identification.  The next screen gives a list of contracts and straddles, check Section 1256 contracts marked to market. The next section will give the choice to enter these as a total or individually.   The next screen asks for the broker information and gains and losses. There is no EIN in this section. If TurboTax asks for one later, enter 99-0999999. Because of the Tax Cuts and Jobs Act in 2017, investment expenses are no longer deductible on a federal return but may be deductible on your state return. You can report this under: Go to Deductions and Credits Retirement and investments Other Investment Expenses Once this is all said and done, a 6781 will be generated reporting your gains as a Marked-to-Market entry. When you enter this information, you can give Ox Bow Securities as a description.   As an FYI, if you enter this information like a stock and bond or security sale, remove it from this section on the return. Forex transactions aren't reported in this manner.

  You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.    https://myturbotax.intuit.com/   Start a 2024 return online and enter some personal information  so that the menu on the left opens up and lets you access your past year returns.   https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/01/27010     https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m5y4ch1y   Many people have multiple TT accounts and forget how to access them.  Log out of the account you are in now.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx Account Recovery     Or did you use the desktop version of TurboTax?  If so, the files are on your own hard drive or any backup device you used like a flash drive.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/find-last-year-tax-data-file-tax-file-computer/L0XJvPaJr_US_en_US?uid=m6gufxei     https://ttlc.intuit.com/turbotax-support/en-us/help-article/data-systems/find-tax-data-file-mac/L4VNGm33S_US_en_US?uid=m6guhab0 You can get a free transcript from the IRS or for a fee of $30, an actual copy of your tax return. https://www.irs.gov/individuals/get-transcript https://www.irs.gov/pub/irs-pdf/f4506.pdf       SAVE YOUR TAX RETURNS ! EVERY year before mid-October you should save a copy of your tax return as a pdf and print a copy of it for your records.  That way you will not be searching online frantically when you need it for a lender, FAFSA forms, your next tax return, etc.    https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m6guj526   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m78eb8pc In order to transfer a past year return to the new return you need the tax file   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-turbotax-online-return-tax-data-file/L4xwOG3LF_US_en_US?uid=m6guk3xl   NOTE:  TurboTax and the IRS save returns for seven years.  Returns older than seven years are purged.  

If you are using TurboTax Online - Search for Schedule C and use the jump to link.  Then,    Click on Review next to Self-Employment Income and Expenses Click on the Pencil Icon next to your Line of Work Scroll down to click on Looks Good On the enter your income screen, click on Skip for now On the Next up, claiming your expenses screen, click on Continue Click on Connect my Accounts Follow the on screen instructions   If you have already skipped this option, you will need to delete the Schedule C and re-enter it to get back to the option to connect your accounts.  If you are unable to connect your accounts, you should enter your expenses manually.       Where do I enter my self-employment business expenses, like supplies and vehicle mileage?