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April 11, 2025
4:19 PM
There is no license needed to use the TurboTax online editions.
If you do not want to use the TurboTax desktop download editions, then you need to ask for a refund from where you purchased the ...
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There is no license needed to use the TurboTax online editions.
If you do not want to use the TurboTax desktop download editions, then you need to ask for a refund from where you purchased the desktop edition license code.
April 11, 2025
4:18 PM
I am buying a new computer. How can I log out of TurboTax Desktop so that the people who are going to move my date over will not be able to get into my tax return?
April 11, 2025
4:18 PM
Well, I didn't come up with the reference to Schedule J on my own. My confusion about Accumulation Distribution took me down that rabbit hole. Now on the Interest and Dividend worksheet I have 0 of...
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Well, I didn't come up with the reference to Schedule J on my own. My confusion about Accumulation Distribution took me down that rabbit hole. Now on the Interest and Dividend worksheet I have 0 of either, but it is showing 60, 75 and 100 under Box 5 which seems to lead the answer to 1 on Schedule G, Other Information, to be Yes which is incorrect. Any suggestions?
April 11, 2025
4:16 PM
If you itemize your deductions, you can deduct the property taxes that you paid on your home, but not the Home Owner's Association fees.
Please see this TurboTax Help Article: Where do I enter ...
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If you itemize your deductions, you can deduct the property taxes that you paid on your home, but not the Home Owner's Association fees.
Please see this TurboTax Help Article: Where do I enter my personal property tax?
April 11, 2025
4:16 PM
I have net profit and not loss. I was trying to increase my common expenses to reduce profit. But turbotax would not let me as it decreases home office by same amount as I try to increase common expe...
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I have net profit and not loss. I was trying to increase my common expenses to reduce profit. But turbotax would not let me as it decreases home office by same amount as I try to increase common expenses and so profit remains same and does not reduce. Schedule C line32a is checked.
April 11, 2025
4:16 PM
Import from Fidelity works but TT H&B hangs when the screen says These documents are ready for import, clicking on import results in changes to top bar State tax owed but Federal remains at $0.
April 11, 2025
4:16 PM
When a grantor transfers property or cash to a trust, whether that transfer is considered to be a gift depends upon the beneficiary(ies) and the terms of the trust. Generally, an irrevocable tran...
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When a grantor transfers property or cash to a trust, whether that transfer is considered to be a gift depends upon the beneficiary(ies) and the terms of the trust. Generally, an irrevocable transfer to a trust is a gift by the grantor to the beneficiaries. Here, however, there is a restriction (can't sell while the grantor is alive), but the beneficiaries are getting a "future interest" and there is a value that can be placed on that interest since that interest cannot be revoked (unless the trust specifies otherwise).
April 11, 2025
4:16 PM
There is a question Did You Miss a Required Distribution From Any Retirement Accounts? You can answer: None of these plans failed to withdraw the RMD
April 11, 2025
4:15 PM
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April 11, 2025
4:14 PM
1 Cheer
The amended return will only be the difference you get back or need to pay. You can confirm this by printing your amendment and looking at the 1040X. Line 18 should be your original refund amount and...
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The amended return will only be the difference you get back or need to pay. You can confirm this by printing your amendment and looking at the 1040X. Line 18 should be your original refund amount and line 21 should be your additional refund. If you paid on your original return it will be on line 16 (but don't include any penalty on 1040 line 38). If there is an amount owed with the amendment, it will be on line 20. Ignore any 1040V voucher that prints out and the new 1040. Those are what your return would have been if you had not needed to amend.
April 11, 2025
4:14 PM
Keep getting error message when trying to make my payment to file state return electronically Says HMM running into a slight snag try again
April 11, 2025
4:14 PM
you guys said i have a problem with tax before submitting
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April 11, 2025
4:14 PM
The sch E is filed to enter the rental income, depreciate the ADU, furnishings, appliances, etc. You will have to determine the percentage of shared expenses and enter just that portion. There is an...
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The sch E is filed to enter the rental income, depreciate the ADU, furnishings, appliances, etc. You will have to determine the percentage of shared expenses and enter just that portion. There is another option for you to say your rent part of your home and let the program do the math but I don't like that option. You can try it and see the difference.
See Where do I enter income and expenses from a rental property? and then see another post of mine to enter the assets.
Reference: About Publication 527, Residential Rental Property (Including Rental of Vacation Homes)
April 11, 2025
4:13 PM
E*Trade moved my SIVB (Silicon Valley Bank) stocks on 11/08/2024 with the description as " Exchange Delivered Out". I purchased these stocks in March 2023. They didn't provide a 1099-B and told me t...
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E*Trade moved my SIVB (Silicon Valley Bank) stocks on 11/08/2024 with the description as " Exchange Delivered Out". I purchased these stocks in March 2023. They didn't provide a 1099-B and told me that they don't provide it for closed-out securities. How do I enter this info using TurboTax Premier Desktop software? I saw the following options when I randomly tried to enter the info and sure what is the correct answer: 1. Should I pick "Long-term basis not reported to IRS (not covered)" in the "Sales section"? 2. Can I use a description: "Worthless 10 shares of SIVB - Exchange Delivered Out" 3. Should I use Box 1c - Date sold as 11/08/2024? Or should it be 12/31/2024? Because when I checked the box of washsale on the next page, it replaced my 11/08/2024 with 12/31/2024 Thanks in advance
April 11, 2025
4:10 PM
Fortunately this should be the last year we all incur this payment. That said, I had a very similar issue with the error code simply not saying the exact issue. I did call the IRS (truly nice lady, c...
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Fortunately this should be the last year we all incur this payment. That said, I had a very similar issue with the error code simply not saying the exact issue. I did call the IRS (truly nice lady, called Ms. Knight) and she found that I had made an extra payment years ago. Basically, the IRS was paid up but TurboTax could not define the error properly and make the adjustment to the over payment. Odd that TurboTax would ping the IRS database but could not see I did not owe additional $ on my taxes.
April 11, 2025
4:10 PM
How do I fill out this form?
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April 11, 2025
4:10 PM
The interest income may be tax free, but the capital gain from sale of mutual funds aren't. The price of SMTFX is not $1, but fluctuates. So when you redeem any shares, there will be capital gain o...
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The interest income may be tax free, but the capital gain from sale of mutual funds aren't. The price of SMTFX is not $1, but fluctuates. So when you redeem any shares, there will be capital gain or loss.
April 11, 2025
4:08 PM
I switched to HR Block myself. Be sure to apply for a refund from Turbotax and get your money back on their defective product. You'll need a copy of your invoice and the license code.
April 11, 2025
4:07 PM
We are filling out Form 3115 for my rental property that I sold in 2024. My dad managed the property from 2014 until 2020. Then I started managing the property since 2020 when he quitclaimed it to ...
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We are filling out Form 3115 for my rental property that I sold in 2024. My dad managed the property from 2014 until 2020. Then I started managing the property since 2020 when he quitclaimed it to me and my two siblings until we sold it in 2024. What “ tax year of the change begins and ends” should I use on Form 3115? I thought it should begins from 01/01/2024 and ends 12/31/2024. But my accountant wants to put it from 2014 to 2024. He said it should cover my dad’s period of management of the property as well!