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M-MTAX, got time for a question regarding filling out that Form 709? My wife and I did a split gift to our Son and DIL to help buy their 1st home. I am filling out Schedule A, Part 1, B, (h) For spli... See more...
M-MTAX, got time for a question regarding filling out that Form 709? My wife and I did a split gift to our Son and DIL to help buy their 1st home. I am filling out Schedule A, Part 1, B, (h) For split gifts, enter 1/2 of column (g). At this entry, the Puritas software makes me do an override to input that number. Is this correct?  
Am I eligible for 1,400 stimulus check
My parents fired the accountant that would have been the one to file their corporate taxes. The accountant had snuck and took POA over my dad, with Alzheimer’s and dementia, while he was in the hospi... See more...
My parents fired the accountant that would have been the one to file their corporate taxes. The accountant had snuck and took POA over my dad, with Alzheimer’s and dementia, while he was in the hospital, behind my mom’s back, and kept him isolated away from us for 6 months, while he ran their company as his own, under the guise of my dad’s POA.  My mom was removed off the board of their company, without her knowledge, and the accountant placed the company up for sale, while attempting to have my dad placed in a nursing home, against his wishes. So much happened, it’s like something you’d see in the movies, however my dad was finally able to make his way to a hotel and call us for help. Anyway, the accountant was court ordered out of their company, and was ordered to turn over all financial records. Shortly after we got my dad home, and the POA the accountant had over him rescinded, he died. My parent’s company had sold, and it sold to the very company the accountant had found to buy it….. by the time we got my dad home, both my parents were too ill to keep it. Unbeknownst to my parents, the accountant who had done this to my dad, is the accountant for the company he had found to purchase my parents company, and he filed amended tax returns on my parents, 2 months after my dad died, using my dad’s electronic signature, without my mom’s knowledge, in the amount of about $2 million dollars, claiming “inventory”, although my parents didn’t have inventory, nor had they ever filed inventory. This accountant had been long fired as my parents corporate accountant, and their new accountants had filed taxes relating to their company prior to selling it, but this accountant snuck and amended them using my dad’s electronic signature after his death, obviously with very malicious intent. My mom has since died, and this is left with my sister and I. We have had to file extensions until we can get help from a tax attorney. Could you tell me the legality of an accountant turning in amended returns using an electronic signature of a deceased person? 
Hi.  Thanks for your response.  It is cancellation of credit card debt.  I am was insolvent at the time, but didn't know I could claim that.  I had to borrow the money for the tax payment.
I am a realtor and I did not earn anything last year can I deduct expenses and carryforward?
Lukester1980, I did figure it out and one of the things that I learned researching online is if you don’t send in all of the entire pages if I recall correctly, it was 10, IRS likely would kick it ou... See more...
Lukester1980, I did figure it out and one of the things that I learned researching online is if you don’t send in all of the entire pages if I recall correctly, it was 10, IRS likely would kick it out. my issue wasn’t with the gifting in 2024 so much , it was the confusion about inputting a gift to another family member about eight years ago and figuring out where to put that in. interestingly, that was already reported to the IRS on the given tax year, but they wanted it stated again in addition to adding that amount to the total lifetime gifting in excess of the standard exclusion.  I’ve heard that the IRS is still on floppy disk computer systems, which if true would seem totally consistent with a typical government agency. After I figured it all out. I went back through the form and all the figures seem to jive and in a bureaucratic way I’m ashamed to say, I understood it>😵‍💫 one must think like a bureaucrat to interact with a bureaucratic agency., i.e. think counterintuitively. 🤵🏻‍♂️
Thank you for your reply.  Let me give you some more specific information in order to see if you have any additional advice before I file (I am on extension).  The instructions (page 9) for 2024 NYS ... See more...
Thank you for your reply.  Let me give you some more specific information in order to see if you have any additional advice before I file (I am on extension).  The instructions (page 9) for 2024 NYS IT-201, line 28, subtractions from Federal AGI, state the following:   "If you include an amount on line 28 from more than one line on Form IT-201, submit a schedule on a separate sheet of paper showing the breakdown from each line."   In 2024 I received interest on US Treasury obligations (exempt from NYS tax) reported on IT-201, line 2, Interest and, for such interest comprising dividends from qualifying funds, on IT-201, line 3, Dividends.   The interest on US Treasury obligations reported on line 2 and that reported on line 3 are combined by Turbotax and the total is subtracted for NYS purposes on line 28.  I have the schedule called for by the above instruction but Turbotax does not provide an option to attach it to my eFile (NYS requires eFile) even though I have indicated in Part VIII of the NYS Info Sheet that I have a schedule to attach.   Question: In this situation does Turbotax not provide an  option in eFile to attach a schedule or am I just not seeing how to do it?   Thanks again.
The W-4 form is used to provide information to your employer so that they can determine how much to withhold from your paychecks. You can calculate how much you should have withheld by using the Turb... See more...
The W-4 form is used to provide information to your employer so that they can determine how much to withhold from your paychecks. You can calculate how much you should have withheld by using the TurboTax W-4 Calculator 2024.    Refer to the TurboTax Blog Understanding Your Withholding Allowance on Your Form W-4 and What Is a W-4 Form? for more information.    
Cany you get into your return and press continue and go through the final steps again?
It depends.  Was the home your primary residence?  You may not have to pay taxes on the profits (up to $250,000 or $500,000 if MFJ) if you meet certain conditions.   The three tests that you must... See more...
It depends.  Was the home your primary residence?  You may not have to pay taxes on the profits (up to $250,000 or $500,000 if MFJ) if you meet certain conditions.   The three tests that you must meet are: Ownership - You must have owned your home for at least two of the five years before you sell your home. Use - You must have used your home as a personal residence for at least two of the five years prior to the date that you sell your home. Timing - You can't exclude the gain of another principal residence that you sold within two years of the current sale. If you meet these requirements,  you don't have to pay taxes on the first $250,000 (500,000 if you are married and file a joint tax return). If your profit is more than $250,000 ($500,000 if MFJ) then, the excess is reported on Schedule D as a capital gain.   For additional information, refer to the TurboTax article Tax Aspects of Home Ownership: Selling a Home and the IRS article Topic no. 701, Sale of your home.   If your home sale was your second home, you will pay capital gains on the profit. You will calculate your profit by subtracting the adjusted cost basis plus selling expenses from your proceeds.   The IRS considers the home that your parent sold you as a gift.  Refer to the IRS FAQ What is the basis of property received as a gift? to help you determine the basis.
  here is the screenshot. I have tried diagnostic support with multiple reps. have tried updating turbotax, updating chrome, updating my computer, redownloading turbotax, re-entering my info. no... See more...
  here is the screenshot. I have tried diagnostic support with multiple reps. have tried updating turbotax, updating chrome, updating my computer, redownloading turbotax, re-entering my info. nothing has fixed it.
When you do a search did you try entering Schedule K-1 and Maryland K-1 and just K-1?  It could be a search wording issue.  
Can you delete the form and reenter?   If you are using: TurboTax Online: see How do I view and delete forms in TurboTax Online? TurboTax Desktop: On the top right, there is a FORMS button. Cl... See more...
Can you delete the form and reenter?   If you are using: TurboTax Online: see How do I view and delete forms in TurboTax Online? TurboTax Desktop: On the top right, there is a FORMS button. Click on FORMS. Locate the form you want to delete. Click on the form name. Below the form, bottom left, select DELETE FORM button.
need to erase false info showing $0.00 for 1099-r then enter correct amount. cannot get software to cooperate.
Thanks for responding, that makes sense.   For what it's worth, and in case someone else finds this thread with a similar issue:  the support person at healthcare.gov said to go ahead and file it w... See more...
Thanks for responding, that makes sense.   For what it's worth, and in case someone else finds this thread with a similar issue:  the support person at healthcare.gov said to go ahead and file it with the 1095 I have and the tax credit calculated.   The IRS should reconcile the tax credit on their end and make any adjustments to the return amount.   They will have the 1095 sent by my employer that shows I was eligible for employer insurance, and thus not eligible for the credit .
Yes.  since you are amending the return, it would be best to use the accurate number.  This way, it is 1) be accurate and 2) when you file next year any remaining carryover will be accurate.
For taxable income up to $12,000 the New York City tax rate (added to the New York State tax rate) is 3.078%.   @MythSaraLee 
Can you give us a screen shot of the error message you are getting?
You can file an amended return to include this form. What kind of debt are you trying to exclude?