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April 12, 2025
2:01 PM
How do I start completely over with state form?
April 12, 2025
2:01 PM
To remove the Savers Credit, you will need to go back to the My Info section of the program and edit your personal information. For occupation enter Student. This will remove the requirement for yo...
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To remove the Savers Credit, you will need to go back to the My Info section of the program and edit your personal information. For occupation enter Student. This will remove the requirement for you to upgrade to the Deluxe edition and remove the Saver's credit from your tax return.
April 12, 2025
2:00 PM
Depending on what the adjustments relate to, you can allocate this amount in multiple ways:
- if the event that caused the adjustment occurred only while you were a resident of CA, allocate $0....
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Depending on what the adjustments relate to, you can allocate this amount in multiple ways:
- if the event that caused the adjustment occurred only while you were a resident of CA, allocate $0. If the event occurred only while you were a resident of NY, allocate the full $604. (For example, if this is an adjustment for the deductible portion of self employment tax, and you only had the business while in CA, then none of that adjustment would be allocable to NY since none of the related income was earned in NY.)
- if you can pinpoint exactly when the expenses were made that gave rise to the adjustment, allocate based on actual amounts paid when you lived in NY.
- if the amounts were earned ratably over the year, allocate based on time. 2 weeks out of 52 weeks equals roughly 3.85%, so you could allocate $23 ($604 x 3.85%) to NY.
- you can also prorate based on income. Take your New York Income/Total Income and multiply the result by $604.
April 12, 2025
2:00 PM
1 Cheer
Please get this Missouri State issue fixed in Turbotax. It is confusing to have the product state we need to print and mail in the payment voucher (with our payment) when we elected to direct debit ...
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Please get this Missouri State issue fixed in Turbotax. It is confusing to have the product state we need to print and mail in the payment voucher (with our payment) when we elected to direct debit from our bank. Clearly this is a software error.
April 12, 2025
1:59 PM
Topics:
April 12, 2025
1:59 PM
1 Cheer
Yes, you would have to report the 1095-A as you received it to reconcile the Advanced Premium Tax Credit.
April 12, 2025
1:58 PM
1 Cheer
Actually, it may be better tax-wise if less days are attributed to California on your W-2 than you calculate. CA tax is most likely higher than Illinois tax. Also, if you change the CA wage amount, ...
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Actually, it may be better tax-wise if less days are attributed to California on your W-2 than you calculate. CA tax is most likely higher than Illinois tax. Also, if you change the CA wage amount, the CA tax amount will be higher, so you may owe tax to CA.
However, you can change your W-2 entry to correct the salary amount allocated to CA; just be sure to save documentation as to why you did that, and how you calculated the amount. The IRS is fond of document-matching, so you could get an inquiry.
Here's more info on Allocating State Wages on a W-2.
@ckarthiksriram
April 12, 2025
1:58 PM
How do you file in Real Estae Tax paid with screw?
April 12, 2025
1:58 PM
It depends. In the step by step, you can enter these improvements that were done between October and before the sale as sales expenses to make them inclusive to determine the actual gain on the sale....
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It depends. In the step by step, you can enter these improvements that were done between October and before the sale as sales expenses to make them inclusive to determine the actual gain on the sale. There is another way however this makes sense and provides the same results with less work on your part. You can use the information below to help allocate the selling expenses and selling price for the assets.
Example of arriving at the selling price and sales expenses for each asset in your rental activity.
Example: Original Cost (of each asset on your depreciation schedule)
$10,000 Land = 13.33% (Carries a more favorable tax treatment)
$50,000 House = 66.67%
$15,000 Improvements = 20%
$75,000 Total = 100%
Multiply each percentage times the sales price/sales expenses to arrive at each individual sales price/sales expense.
April 12, 2025
1:58 PM
To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/
Scroll down to the bottom of ...
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To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/
Scroll down to the bottom of the screen and on the section Your tax returns & documents. Click on the Year and Click on Download/print return (PDF)
Or -
When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state.
This will take you back to the 2024 online tax return.
Click on Tax Tools on the left side of the online program screen. Then click on Print Center. Then click on Print, save or preview this year's return. Choose the option Include government and TurboTax worksheets
If you used the desktop CD/Download editions installed on your computer, the only copy of your tax data file and any PDF's will be on the computer where the return was created. TurboTax does not store online any returns completed using the desktop editions.
April 12, 2025
1:58 PM
Yes, she was mostly likely paid as an independent contractor, so she will have to file a Schedule C and report self-employment income.
She would not have to file state taxes:
Everyone whose...
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Yes, she was mostly likely paid as an independent contractor, so she will have to file a Schedule C and report self-employment income.
She would not have to file state taxes:
Everyone whose Massachusetts gross income is $8,000 or more must file a Massachusetts personal income tax return.
Filers with income of $10,000 or less for the entire year (single filers, married persons filing separately, and estates and trusts), and $20,000 or less for the entire year (married couples filing jointly, heads of household, and surviving spouses) pay no tax.
April 12, 2025
1:57 PM
Do I enter 0 or my actual loss for the year. I can't find the line on the worksheet either.
April 12, 2025
1:57 PM
After you select investment and savings, choose "Enter a different way." Now, select interest. Then, choose to import from bank, upload, use a photo on your phone, or type it in yourself.
...
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After you select investment and savings, choose "Enter a different way." Now, select interest. Then, choose to import from bank, upload, use a photo on your phone, or type it in yourself.
April 12, 2025
1:57 PM
Due to a misunderstanding with the Marketplace my marketplace insurance wasn't canceled before year ended and renewed. I was able to cancel my marketplace insurance on Jan 2nd since I had started my ...
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Due to a misunderstanding with the Marketplace my marketplace insurance wasn't canceled before year ended and renewed. I was able to cancel my marketplace insurance on Jan 2nd since I had started my employer's health insurance. I did receive a 1095-A that has the January amounts even though coverage terminated January 2nd. So when filing it says," if covered outside of marketplace then put zero for premium and slcps", but I still received the credit and received the 1095-A. So would I put 1095-A exactly as shown?
April 12, 2025
1:57 PM
Here is how the IRS, calculates the underpayment penalty. "The IRS calculates the amount of the Underpayment of Estimated Tax by Individuals Penalty based on the tax shown on your original return or ...
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Here is how the IRS, calculates the underpayment penalty. "The IRS calculates the amount of the Underpayment of Estimated Tax by Individuals Penalty based on the tax shown on your original return or on a more recent return that you filed on or before the due date. The tax shown on the return is your total tax minus your total refundable credits.
We calculate the penalty based on:
The amount of the underpayment
The period when the underpayment was due and underpaid
The published quarterly interest rates for underpayments"
See the link below for more information:
Underpayment of estimated tax penalty
April 12, 2025
1:57 PM
All my income is dividend income. No W-2. I don't think I would be eligible for any sort of refund.
April 12, 2025
1:56 PM
I'm qualified for the retirement credit and I don't want to claim it but I'm bring forced to
Topics:
April 12, 2025
1:56 PM
I just activated or re-installed Deluxe Fed & State for 2022-2023-2024 I noticed 23-24 popping up after activation about it being stored in my account It is always hard for me to find that fi...
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I just activated or re-installed Deluxe Fed & State for 2022-2023-2024 I noticed 23-24 popping up after activation about it being stored in my account It is always hard for me to find that file, but I finally did I have used TTax since 1995 or before and I remember 2 occasions where customer service had to reload my prior purchases due to some storage glitches The last time- they stopped at 2014 and missed a few years in between When I just looked in the folder, the 2022 was missing but 23 & 24 were there? How do I get my missing programs placed into my folder ?
April 12, 2025
1:56 PM
You may be entering it under the 5 Digit Pin section (also known as the signature ID) area instead of in the IP PIN area which is for the 6 digit IRS issued number.
Please see how do I add or r...
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You may be entering it under the 5 Digit Pin section (also known as the signature ID) area instead of in the IP PIN area which is for the 6 digit IRS issued number.
Please see how do I add or remove my 6-digit IP PIN for steps on your IRS issued number.
@klogue2
April 12, 2025
1:56 PM
To report interest income received -
Click on Federal Taxes (Personal using Home & Business) Click on Wages and Income (Personal Income using Home & Business) Click on I'll choose what I work on ...
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To report interest income received -
Click on Federal Taxes (Personal using Home & Business) Click on Wages and Income (Personal Income using Home & Business) Click on I'll choose what I work on Investments and Savings On Interest on 1099-INT, click on the start or update button
Online returns -
On the screen Did you have investment income in 2024? Click on Yes
On the screen Let's import your tax info, click on Enter a different way
On the screen OK, let's start with one investment type, click on Interest and Continue
On the screen How would you like to upload your 1099-INT? Click on Type it in myself
Desktop editions 2024 -
On the screen Did you have investment income in 2024?, Click on Yes On the screen Let Us Enter Your Bank and Brokerage Tax Documents, click on Skip Import On the screen OK, let's start with one investment type, click on Interest and Continue