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April 12, 2025
9:43 PM
leaves things out there once entered, and difficult to remove
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April 12, 2025
9:42 PM
I thought that Listing/Platform Fees, Shipping Fees, Transaction Fees, Shipping Supplies and Sourcing Mileage would go under COGS (since they are directly related to the sale of the inventory) but the...
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I thought that Listing/Platform Fees, Shipping Fees, Transaction Fees, Shipping Supplies and Sourcing Mileage would go under COGS (since they are directly related to the sale of the inventory) but there is NO spot for them under Inventory to add them in the calculations for COGS.
April 12, 2025
9:42 PM
Hi there! I just want to confirm. My debt was discharged on October 8, 2024; given that the date falls between December 31, 2020 and January 1, 2026, am I correct that the exception applies to my...
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Hi there! I just want to confirm. My debt was discharged on October 8, 2024; given that the date falls between December 31, 2020 and January 1, 2026, am I correct that the exception applies to my loans and the canceled debt is not considered taxable income? I live in New York, by the way. Thank you for your help!
April 12, 2025
9:42 PM
I sold my house in India in January 2025, ~15 years after purchasing it, and immediately reinvested the long term capital gains from that sale into purchase of a new flat. Thus I am expecting a full ...
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I sold my house in India in January 2025, ~15 years after purchasing it, and immediately reinvested the long term capital gains from that sale into purchase of a new flat. Thus I am expecting a full refund of my TDS in India when I file taxes this June. When I report the capital gains on my US taxes in 2026, can I expect there will be no cap gains tax in USA since I reinvested all cap gains toward purchase of a new house?
April 12, 2025
9:41 PM
I was able to put it on my desktop so it "found" it - however unlike past years, it's STILL not showing the 2023 column so I can compare each category to this year which is one of the reasons I like ...
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I was able to put it on my desktop so it "found" it - however unlike past years, it's STILL not showing the 2023 column so I can compare each category to this year which is one of the reasons I like to use TT each year. How can I get that to show up? (I'm not mid-taxes and don't want to start again so hopefully it can still load it properly). Thank you
April 12, 2025
9:39 PM
1 Cheer
If 5b is zero I wouldn’t worry about that. And it was probably a conversion not a rollover. @dmertz
April 12, 2025
9:38 PM
Would replacing a leaking roof which is making the house unhealthy due to black mold be considered a hardship or emergency.
April 12, 2025
9:37 PM
Why don’t you want to file Head of Household if you qualify? Head of Household is better than Single. Turbo Tax automatically gives you Head of Household when you enter a qualifying dependent. G...
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Why don’t you want to file Head of Household if you qualify? Head of Household is better than Single. Turbo Tax automatically gives you Head of Household when you enter a qualifying dependent. Go back through My Info or Personal Info and check the answers to your dependents.
April 12, 2025
9:36 PM
More info: 1040 line 5a has the correct amount from box 1 of 1099-r and 5b (taxable amount) is 0 as it is in box 2a of 1099-R. IRS instructions indicates that 5B should have a rollover designation.
April 12, 2025
9:35 PM
what's on lines 24 and 31
April 12, 2025
9:35 PM
I like your use of the MIT lecture hall as the address of the taxpayer. It took me a few seconds ... I am not sure if any of this is worth my time; the IRA basis is tiny compared to the total IR...
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I like your use of the MIT lecture hall as the address of the taxpayer. It took me a few seconds ... I am not sure if any of this is worth my time; the IRA basis is tiny compared to the total IRA amount and I filed only 1 8606 form of the 4 years, and that one is incorrect, so there is the $50/form to do that. However good problems to have.
April 12, 2025
9:34 PM
Do you have enough earned income to contribute that much? You need W2 wages or a Net Profit on Schedule C. If you have self-employment income you can only contribute up to your net profit reduc...
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Do you have enough earned income to contribute that much? You need W2 wages or a Net Profit on Schedule C. If you have self-employment income you can only contribute up to your net profit reduced by the deduction allowed for the ER portion of your self-employment taxes. See IRS publication 590A (page 39 for ROTH) https://www.irs.gov/pub/irs-pdf/p590a.pdf So check 1040 Schedule 1 line 14. You have to deduct that amount from your Schedule C Net Profit. That will give you the allowed contribution for the 1099Misc income.
April 12, 2025
9:34 PM
can you please help? I live in Texas my husband in Arizona we are filing taxes married filing separately because we did not live together since July 2024 but we are still together, I don't understand ...
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can you please help? I live in Texas my husband in Arizona we are filing taxes married filing separately because we did not live together since July 2024 but we are still together, I don't understand what to fill for community property addition adjustment and community property subtraction adjustment?
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April 12, 2025
9:32 PM
Still seeing the same issue with TT 2024 Home & Business version. What a PITA!
April 12, 2025
9:31 PM
You can say no. It won’t affect your current registration.
April 12, 2025
9:31 PM
I use Turbotax Business to file fiduciary returns for a trust. I’m confused as to how Turbotax Business handles different types of 1099-R income, specifically as it relates to the Net Investment Inc...
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I use Turbotax Business to file fiduciary returns for a trust. I’m confused as to how Turbotax Business handles different types of 1099-R income, specifically as it relates to the Net Investment Income Tax that only applies to certain types of 1099-R income. As I understand it, qualified annuity income is exempt from NIIT, but non-qualified annuity income is not. This trust has a large amount of non-qualified annuity income. Yet Turbotax Business (unlike Premier) only has a single box for entering the amount of a 1099-R distribution. I assume this is for Box 2a. But nowhere does it let you enter any other information about where the amounts came from. For example, there is no place for the distribution codes (Box 7). When the beneficiary K-1s are generated, what happens to this income? How does Turbotax Business know whether it should be subject to NIIT, if it doesn’t have a place to tell it that? On the beneficiary K-1s it generates for me, there is an amount in Box 5 representing each beneficiary’s share of this non-qualified annuity income. There is an identical negative amount in Box 14H, showing that this income is exempt from net investment income tax. But I doubt if this is correct. How did Turbotax come to that conclusion, and what should I do?
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April 12, 2025
9:31 PM
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April 12, 2025
9:28 PM
1 Cheer
Looks like you are posting from the Online version. People who bought the Desktop program have accidentally got into the Online version. If you have a License Code you need to install the Desktop D...
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Looks like you are posting from the Online version. People who bought the Desktop program have accidentally got into the Online version. If you have a License Code you need to install the Desktop Download program and not use the Online version. How to install with a License Code https://ttlc.intuit.com/community/tax-topics/help/activating-turbotax-cd-download-software/00/852971 If you entered your info into the Online version you can move it to the Desktop program without paying for Online. To continue in the desktop version see this……. https://ttlc.intuit.com/community/choosing-a-product/help/how-do-i-switch-from-turbotax-online-to-the-turbotax-software/00/26129