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I have seen variations of my question in some threads, but no definitive answer.  I have a rental property which has a number of improvements all entered into Turbotax and depreciation has been calculated for a number of years. Now I have sold the property. When I go into the Rentals and Royalties section, I click on the box to indicate that I have sold the property. Later it asks me for the amount of proceeds distributed across the land and building. But it does not include the basis of improvements, as adjusted for depreciation, in the calculation of gain/loss so my gain is more than it should be. I saw someone suggest that the proceeds should also be distributed across the improvements, but Turbotax does not provide a way to do that or flag that the improvements have also been sold, when I enter each improvement asset. This seems like a flaw in the software, but appreciate any further thoughts. 

I am another Amazon Vine participant. I understood from the beginning that I would be taxed on items received - mostly at msrp. I have entered my information from the 1099 NEC & have completed all my entries for the return. At the final review, errors are shown - all regarding the Schedule C generated from the 1099NEC entry. It is asking for a 6 digit Principal Business activity code - I don't have a business & have no code. It is asking me to return to the form & complete the topic as to whether it is a qualified or non-qualified business. Is this question meant for the business I don't have or asking if Amazon is qualified or not? It is also asking for a business address - for me or Amazon. There is an option to check a box stating that the business name & taxpayer name are the same. I assume I should check this even though there is no business name. Schedule C non cash accounting method must be entered - don't know what to enter form cash, accrual or other (assuming other). Material boxes must be entered - line G - yes or no? I know that the 1099 was required. Is it ok to enter the income information & ignore the schedule C so that the amount of tax will be entered into the final total? I am having to mail in this return due to a form 5329 being required for a financial institution that failed to make a requested RMD. I did not catch the mistake until April 11 - 10 days after my deadline of April 1 due to being my first RMD. I have a feeling that the return may already catch some extra scrutiny. I do not see a way to file online with that form & Turbo Tax. I appreciate any help that can be provided.  

In 2023, I made a post-tax contribution to my traditional IRA, and I did not get a tax break for this money. In 2024, I moved ONLY the original after-tax contribution from my traditional IRA to my Roth IRA. When I talked to my financial institution in order to do this transfer, they explained that since it's AFTER-tax money, the transfer is NOT a taxable event. However, I would need to report it on form 8606. I did get a 1099-R from my financial institution and uploaded it to Turbotax. When I look at my final numbers, Turbotax is saying I have to pay taxes on part of the money I transferred from the traditional to Roth, and it doesn't look like Turbotax is triggering the 8606 form. How can I fix this?

Items listed on the real estate tax bill for my rental property are grouped in 3 buckets: direct percentage of the property's assessment (1% in Sonoma Cnty, Ca); this is the bulk of the bill multiple items taxed at various percentage rates of the property's assessment (school bonds, projects, etc.); this adds up to a little over 10% of the bill a few fixed-amount fees (e.g., an assessment from the Marin/Sonoma Mosquito and Vector Control District, storm water management fee, etc.); this is tiny, at less than 1% of the bill Can I deduct all 3 amounts?  If so, would they all go under Real Estate Taxes on BUSINESS tab in TTH&B2024 (it looks like it goes on line 16a on the Schedule E Worksheet), or do I need to split them into other places?    Also, I understand that in the case of main residence, only 1 would be deductible; please, confirm.  

I received two w-2s from same company which have on w-2 different company names (due to different departments), different control number, EIN. I did notice for box 12 it shows same exact amount for both W-2s. It shows as code DD. Would I file each W-2 (same company) exactly as shown with same amount for box 12 DD ? Thank you!

I am a full-time resident of Texas.   I own farm land which has a Farmers Co-op agreement with a local Kansas farmer to farm crops on the land and I am completing a Kansas State Return as a "non-Resident" to report income from farm crop proceeds.    In filling out the K-40 form for the Kansas State return there is a section with the title "Contribution Fund School District Number Smart Worksheet".  On Line 43 on that form, although the software indicates to Enter an amount greater than zero or leave the amount blank, it is requiring me to select an Historical Site.   I made no contributions to any Historical Site Fund.   I tried leaving the amount blank and tried entering zero, but either way, the software continues to provide an error stating it wants an Historical site number selected.        Please advise how I can get the form to correctly reflect I have made no contributions to any fund listed.