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April 7, 2025
1:30 PM
Entered SN as suggested and still receive Check This Entry, Form 1099-NEC Worksheet(....): Payer's federal EIN - Federal withholding is present. A tax identification number is required. I had ent...
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Entered SN as suggested and still receive Check This Entry, Form 1099-NEC Worksheet(....): Payer's federal EIN - Federal withholding is present. A tax identification number is required. I had entered 0.00 for Federal withholding. Went back and checked and shows $0 for Box 4. Is there something else I'm not doing correctly?
April 7, 2025
1:30 PM
The questions are in TurboTax Online for your vehicle choices. First you must establish the business use percentage of the vehicle. A vehicle is called 'Listed Property'. Generally, a vehicle is not...
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The questions are in TurboTax Online for your vehicle choices. First you must establish the business use percentage of the vehicle. A vehicle is called 'Listed Property'. Generally, a vehicle is not exclusively used for your business, but would also have personal mileage which would not be allowed to be deducted. A record of your business miles divided by the total miles driven in a year would provide your business use percentage.
If that business use percentage is greater than 50% (51% or higher) then you can choose to use special depreciation if you like. This is simply a law that allows you to take a large depreciation expense in the first year an asset is placed in service and, yes, there would be little or no deduction in future years if you choose special bonus depreciation and/or Section 179.
More than 50% business use requirement. See IRS Publication 463 -- You must use the property more than 50% for business to claim any section 179 deduction. If you used the property more than 50% for business, multiply the cost of the property by the percentage of business use. The result is the cost of the property that can qualify for the section 179 deduction.
More-than-50%-use test. Generally, you must use your car more than 50% for qualified business use (defined next) during the year to use MACRS. You must meet this more-than-50%-use test each year of the recovery period (6 years under MACRS) for your car.
If your business use is 50% or less, you must use the straight line method to depreciate your car. This is explained later under Car Used 50% or Less for Business
@joecallinan
April 7, 2025
1:30 PM
So, is that form simply an election out of any Special Depreciation Allowance because I am taking 100% of the 179 deduction?
April 7, 2025
1:30 PM
Thanks, Vanessa.
April 7, 2025
1:28 PM
You may need to do a manual update.
Try clearing your Cache and Cookies and then try this link instructions.
April 7, 2025
1:28 PM
I need to record total payments/withholding for a 1099-G. How do I do that?
Topics:
April 7, 2025
1:27 PM
No, you don't need to delete the state return. You can file the federal return without filing the state return.
April 7, 2025
1:27 PM
In TurboTax Premier Online, follow these directions.
Down the left side of the screen, click on Federal.
Down the left side of the screen, click on Wages & Income.
Click the down arrow...
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In TurboTax Premier Online, follow these directions.
Down the left side of the screen, click on Federal.
Down the left side of the screen, click on Wages & Income.
Click the down arrow to the right of S-corps, Partnerships, and Trusts.
Click to the right of Schedule K-1.
At the screen Tell us about your Schedule K-1, you tell the software which Schedule K-1 you received.
For several screens, you will be entering data right off the K-1 form.
April 7, 2025
1:27 PM
Please call TurboTax Customer service. Here is a link: Turbo Tax Customer Service
April 7, 2025
1:26 PM
The qualified dividend and capital gains tax worksheet is used to lower taxes that involve those taxable items. This removed some of your income and added the separate tax.
See Qualified Dividends ...
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The qualified dividend and capital gains tax worksheet is used to lower taxes that involve those taxable items. This removed some of your income and added the separate tax.
See Qualified Dividends and Capital Gain Tax Worksheet.
April 7, 2025
1:26 PM
Employers can put just about anything in box 14; it's a catch-all for items that don't have their own dedicated box on the W-2. Unless you work for a railroad most entries are just informational.
...
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Employers can put just about anything in box 14; it's a catch-all for items that don't have their own dedicated box on the W-2. Unless you work for a railroad most entries are just informational.
In TurboTax, enter the description from your W-2's box 14 on the first field in the row. Enter the dollar amount and select the correct tax category that goes with that description.
If none of the categories apply, scroll to the bottom of the list and choose Other (not classified). Don’t worry. We'll figure out if it impacts your return or not. If we need more information, we'll ask you.
If box 14 is blank, just skip over it. Don't enter a 0 for any blank boxes.
April 7, 2025
1:26 PM
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April 7, 2025
1:26 PM
1. You got it right.
2. You got it right.
3. You don't qualify for QBI. So just answer no.
@hno4
April 7, 2025
1:26 PM
@Solar Eclipse from what I've seen you would be able to install it but not activate it once it rolls off their 3 year support. In 2020 I did manage to re-download and install TT 2018 and 2019 on a d...
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@Solar Eclipse from what I've seen you would be able to install it but not activate it once it rolls off their 3 year support. In 2020 I did manage to re-download and install TT 2018 and 2019 on a different Mac to refile for an issue, in 25 years of using TT that's the furthest I've ever had to go back to run an old version of TT. It seems the 3 year support window is more aimed at refile window than audits. Best thing to do is to save the full PDF with "all forms and worksheets" for your records when you're done with filing season.
April 7, 2025
1:25 PM
You can enter the information on each return- go through the section in TurboTax. You will have to enter your partner's income and vice versa but you both can claim the homestead.
April 7, 2025
1:25 PM
There could be a couple of reasons why you might be experiencing a delay:
1. First, the status might be pending for security reasons. This may be a sign that someone is trying to use your ident...
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There could be a couple of reasons why you might be experiencing a delay:
1. First, the status might be pending for security reasons. This may be a sign that someone is trying to use your identity to file a tax return. This can take up to 72 hours, after which your return will then be forwarded to the IRS, or if applicable, rejected. If rejected, you can then correct the rejection issue and resubmit. Please see this FAQ for reference.
2. Secondly, there could be a delay if your return has various refundable credits, such as the Earned Income Credit, Investment Credit, Energy Credits, or Business Credits. You may need to wait a few more days and check your filing status again. Please see this FAQ for additional information.
Note: Both instances may be applicable. That is, you could have a hold for security reasons first. And additionally for verification of the refundable credits in your return. In this case, delays might extend beyond 72 hours.
April 7, 2025
1:25 PM
I have felt that having the previous year's tax inputs shown as a compare column to current year inputs provided a lot of convenience while doing current taxes. It was a very nice feature. This year...
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I have felt that having the previous year's tax inputs shown as a compare column to current year inputs provided a lot of convenience while doing current taxes. It was a very nice feature. This year almost all entries in the 2023 column are shown as 0.0. The PC with all my desktop TurboTax yearly installations has been upgraded recently from Windows 10 to latest Windows 11 so could this been part of issue? Any suggestions on how to get this feature working right again?
April 7, 2025
1:25 PM
how to enter k-1
April 7, 2025
1:25 PM
Does anyone know what exactly the revison on the bottom of the forms refers to, or means? The revision will sometimes change with a TT update and every form seems to have the same revision, it isn't...
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Does anyone know what exactly the revison on the bottom of the forms refers to, or means? The revision will sometimes change with a TT update and every form seems to have the same revision, it isn't specific to any one form. It will usually have a date and TTW next to it. For example "Rev 03/07/25 TTW" Is this an internal Intuit/TT thing or a Treasury revision or what? What causes the revisions to change and what does it mean when it changes? If a new revision has been released in between the time someone prints and later signs/mails in their return, is that going to raise flags? It would be greatly appreciated if an Intuit employee could shed some light onto what the forms revision is all about, and any implications it has... SE TT Deluxe Desktop / Windows