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April 6, 2025
8:22 PM
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April 6, 2025
8:20 PM
1 Cheer
If you are unmarried from the information you posted your mom is your dependent as a qualifying relative and you can file as Head of Household.
April 6, 2025
8:20 PM
Our advisor placed money ($70,000) from a 401-K into the L Bonds in an IRA account when we retired. Within (< 6) months of doing this we received notification of the GWG bankruptcy. Any earnings fr...
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Our advisor placed money ($70,000) from a 401-K into the L Bonds in an IRA account when we retired. Within (< 6) months of doing this we received notification of the GWG bankruptcy. Any earnings from these bonds would have been minimal. But now we have essentially lost the $70k unless something significant happens which is doubtful. So, it is a significant loss for us. But you are still telling me that I still cannot include the loss amount from the GWG Grantor Letter for the Wind Down Trust in my 2024 Federal Taxes, correct?
April 6, 2025
8:19 PM
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April 6, 2025
8:19 PM
The live version defaults to the $209 version, but Home and business is for sale online for $95.
Not sure I am using the added value.
April 6, 2025
8:18 PM
Where would i find form 2210?
April 6, 2025
8:18 PM
Thanks, PatriciaV! This was really helpful to allow me to submit my taxes without the unwanted form!
April 6, 2025
8:16 PM
I received a substitute 1099-S that breaks down my costs.
April 6, 2025
8:16 PM
Form 3115 and attachments have to be sent in separately ahead of filing (preferably quite a ways ahead). The rules for that are in the Form 3115 IRS instructions.... And Form 3115 also has to be p...
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Form 3115 and attachments have to be sent in separately ahead of filing (preferably quite a ways ahead). The rules for that are in the Form 3115 IRS instructions.... And Form 3115 also has to be part of the tax filing itself (an unsigned copy). IF I e-file, I know that I have to mail in 8453 separately and I'm sure it needs to include the separate documentation that I attached to the original Form 3115. What I'm confused by is whether Turbo Tax efile submits Form 3115 (it is in TurboTax and I can fill it out there) or whether I send it along with 8453. IF I don't have a clear answer, I will send it in with 8453 (can't hurt, I assume).
April 6, 2025
8:13 PM
1 Cheer
No, the property taxes and HOA fees the buyer reimbursed you for should not be included in the sales price. If you reported rental expenses for 2024, you should not report the portion of the propert...
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No, the property taxes and HOA fees the buyer reimbursed you for should not be included in the sales price. If you reported rental expenses for 2024, you should not report the portion of the property tax and HOA fees you were reimubursed.
April 6, 2025
8:13 PM
I need a number for tax I paid to state of CA from last year. Im using desktop version 3rd year in a row (and it sucks). I got my 2023 return file saved, I try to open it - it suggest to transfer it...
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I need a number for tax I paid to state of CA from last year. Im using desktop version 3rd year in a row (and it sucks). I got my 2023 return file saved, I try to open it - it suggest to transfer it and starts my 2024 return all over again. Which Im not interested in, I just need to check final numbers. How do I do it?
April 6, 2025
8:13 PM
Funds are usually withdrawn on the payment date you specify in TurboTax, assuming your e-filed return has already been accepted (received) by the IRS.
If that date falls on a weekend or federal ...
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Funds are usually withdrawn on the payment date you specify in TurboTax, assuming your e-filed return has already been accepted (received) by the IRS.
If that date falls on a weekend or federal holiday, the funds are typically withdrawn the next business day.
If you file right before (or on) the April 15, 2025, deadline, the IRS may not be able to debit your payment until after the deadline due to high e-filing volume. Also, it can take your bank another few days to post the debit to your account.
As long as you file your return or extension on or before April 15, 2025, and you select April 15, 2025, or earlier as your payment date, you won't get penalized for late payment.
If you don't see the debit in your bank account 7–10 days after your return has been accepted, call IRS e-file Payment Services at 888-353-4537 or contact your state tax agency.
April 6, 2025
8:11 PM
Confirmed. You're right. It does not make sense. You can only deduct a charitable donation in the year that you actually made the donation.
April 6, 2025
8:11 PM
It's not clear what fields to use to calculate the amount for this field (Column F - Line 54 minus sum of lines 39,40,41,42,43)?
April 6, 2025
8:10 PM
@classicore7 , there is NO tax implications when you move monies between Foreign and domestic accounts that you own. While the money is abroad FBAR and FATCA forms are the only ones that come to...
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@classicore7 , there is NO tax implications when you move monies between Foreign and domestic accounts that you own. While the money is abroad FBAR and FATCA forms are the only ones that come to mind. If the monies are from foreign trust / estate / person then there may be a requirement to file form 3520. But all these are informational forms.
Is there more I can do for you ?
April 6, 2025
8:10 PM
I know this question has been asked in one form or another several times, but there appear to be many answers and no consensus, so I would just like some clarification. I have a computer that is old...
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I know this question has been asked in one form or another several times, but there appear to be many answers and no consensus, so I would just like some clarification. I have a computer that is old and out of date, sitting in the corner collecting dust. I brought it in service in 2010 and took section 179. It's still on my assets list, so I want to clean it up (and a bunch of other items). I've seen 3 options in the forums: Just delete it since it's depreciated and won't be sold Update it as "no longer used in 2024" and select YES for special handling Update it as "no longer used in 2024" and select NO for special handling, and enter $0 for sale price For items 2 and 3, then I should wait until the next tax season to delete the items as they have been marked as disposed, since they won't be sold. But for items I might sell, I should leave them on the list. Does it even matter if you go route 1, 2, or 3? I just don't want to increase any audit risks. Thanks.
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April 6, 2025
8:09 PM
Hi, My mom moved to the U.S. in May 2024 and has remained here since. She lived with me until the end of June and then moved into a separate residence that I rent and pay for on her behalf. She ...
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Hi, My mom moved to the U.S. in May 2024 and has remained here since. She lived with me until the end of June and then moved into a separate residence that I rent and pay for on her behalf. She does not have any earned income and receives only public assistance (SSI, SNAP, and similar benefits). I cover the majority of her support, including housing, food, and other essentials. I'm trying to determine whether I can file as Head of Household for 2024. I understand that for a parent, co-residency is not a requirement, and she has been physically present in the U.S. for more than 183 days this year. However, her legal status is that of a humanitarian parolee under the Uniting for Ukraine (U4U) program — she is not a permanent resident. So can I file as a Head of Household and if so is there any additional evidence/statement I need to provide? Thank you!
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April 6, 2025
8:09 PM