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April 11, 2025
4:55 AM
Yes. You will need to enter something in the SLSCP. You would need to use this tool to find your SLCSP if it is not on your form. If you link it to your Schedule C, any amount that was paid out...
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Yes. You will need to enter something in the SLSCP. You would need to use this tool to find your SLCSP if it is not on your form. If you link it to your Schedule C, any amount that was paid out of pocket will be given to you as a self-employed health insurance deduction if you qualify. Do you get to the screen asking which business it is associated with? Be sure to select the business and the months of operation. At which screen are you getting this error?
April 11, 2025
4:53 AM
Virginia state
Topics:
April 11, 2025
4:52 AM
I owed federal but have a state refund. Can I pay my federal with the state refund on turbo tax?
April 11, 2025
4:52 AM
1 Cheer
You should only enter the amount of the distribution for the RMD of this account in your case:
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R” and enter you...
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You should only enter the amount of the distribution for the RMD of this account in your case:
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R” and enter your 1099-R
Enter the RMD amount allocated to this distribution since this account was split up on the "Let's get more information about your Required Minimum Distribution (RMD)" screen (do not enter more than the distribution amount)
Continue until "How much of this distribution applied to your December 31, 2024 RMD?" screen and select "The entire distribution was an RMD"
On the "Here's your 1099-R info" screen click "Continue"
On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024, otherwise select what is applicable.
@caliread
April 11, 2025
4:49 AM
Topics:
April 11, 2025
4:49 AM
I tried Direct Pay Business on IRS website. But I only see 2025 under Tax Period for Payment. Can I really file extension online ?
April 11, 2025
4:49 AM
1 Cheer
Your amended return starts at zero.
It prepares the amendment expecting that you paid anything you owe, or that you already got your refund.
The amount calculated on the amended return is th...
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Your amended return starts at zero.
It prepares the amendment expecting that you paid anything you owe, or that you already got your refund.
The amount calculated on the amended return is the amount you would repay after the refund.
April 11, 2025
4:45 AM
To view what you were charged for:
Gog into TurboTax
On the left sidebar toward the bottom
Click Intuit Account
A screen with boxes will show up
From the left sidebar
Select Pr...
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To view what you were charged for:
Gog into TurboTax
On the left sidebar toward the bottom
Click Intuit Account
A screen with boxes will show up
From the left sidebar
Select Products and Billing
For billing issues you can contact the TurboTax Support Phone Number
April 11, 2025
4:44 AM
You would add this as a separate asset by selecting the following:
Business income and expenses
I'll choose what I work on
Start or update next to Business income and Expenses
Edit ...
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You would add this as a separate asset by selecting the following:
Business income and expenses
I'll choose what I work on
Start or update next to Business income and Expenses
Edit next to your business profile
Start next to Business Assets
April 11, 2025
4:43 AM
Emergency response, training, firehouse volunteer work, fundraising
Topics:
April 11, 2025
4:42 AM
1 Cheer
Q. Can you use this same example if box 5 is around $800 less than box 1?
A. Yes.
Q. or only if box 5 is greater than box 1?
A. No.
Example Box 1 is $5000. Box 5 is $4200. Parents c...
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Q. Can you use this same example if box 5 is around $800 less than box 1?
A. Yes.
Q. or only if box 5 is greater than box 1?
A. No.
Example Box 1 is $5000. Box 5 is $4200. Parents can only use $800 for the AOC. But if the student declares $3200 scholarship as taxable, parents can use $4000 for the AOC.
Q. In your example would you not put down anything for box 1 on the student's tax return?
A. Yes, put nothing in box 1. Put $3200 in box 5.
Q. WHY would you not put down anything for box 1 on the student's tax return?
A. Because if there is something in box 1, TurboTax will try to factor it into the calculations. You have already done the calculation. You calculated that $3200 is taxable. Entering that one amount, in box 5, gets it to the right place on the tax forms (line 8r on schedule 1).
April 11, 2025
4:40 AM
The AI customer assistant is of no help, just tells me to click "Fix My Return" on the Tax Home, but there is no "Fix My return" button anywhere in the tax home. Not sure if it's a website glitch but ...
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The AI customer assistant is of no help, just tells me to click "Fix My Return" on the Tax Home, but there is no "Fix My return" button anywhere in the tax home. Not sure if it's a website glitch but I've tried multiple computers and it doesn't show up. I need to fix my taxes, how the **** do I fix my return?
Topics:
April 11, 2025
4:40 AM
No. The cost of removing down trees is not a deductible expense unless it was in a federally declared disaster area.
If it was in a federally declared disaster area, then you can deduct the ...
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No. The cost of removing down trees is not a deductible expense unless it was in a federally declared disaster area.
If it was in a federally declared disaster area, then you can deduct the cost of the damage to your home and include the tree removal as a measure of the decrease in FMV of your home/property.
Landscaping. The cost of restoring landscaping to its original condition after a casualty may indicate the decrease in FMV. You may be able to measure your loss by what you spend on the following. • Removing destroyed or damaged trees and shrubs, minus any salvage you receive. • Pruning and other measures taken to preserve damaged trees and shrubs. • Replanting necessary to restore the property to its approximate value before the casualty
April 11, 2025
4:38 AM
April 11, 2025
4:37 AM
You would report them as a sale of an asset, like a stock.
In TurboTax Online, you can enter the sale of personal items by following these steps:
Open your tax return
Click on Federal i...
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You would report them as a sale of an asset, like a stock.
In TurboTax Online, you can enter the sale of personal items by following these steps:
Open your tax return
Click on Federal in the left-hand column,
Then on Wages & Income
choose Investments and Savings and click on the down arrow on the right
Click on Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
Did you sell any investments?
yes
Did you receive a form 1099-B or brokerage statement?
No
Select Other (other investment purpose) from the list of investments.
Follow the TurboTax interview to enter your information.
If you incur sale expenses, you can subtract them from the proceeds.
Q. There is a question whether or not I can claim her as a dependent if she does not make more than ~$5050.
A. Full time college students, under 24, are still their parents dependents regardless o...
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Q. There is a question whether or not I can claim her as a dependent if she does not make more than ~$5050.
A. Full time college students, under 24, are still their parents dependents regardless of how much income they have.
There are two types of dependents, "Qualifying Children"(QC) and Other ("Qualifying Relative" in IRS parlance even though they don't have to actually be related). There is no income limit for a QC but there is an age limit, student status, a relationship test and residence test.
A child of a taxpayer can still be a “Qualifying Child” (QC) dependent, regardless of his/her income, if:
He is under age 19, or under 24 if a full time student for at least 5 months of the year, or is totally & permanently disabled
He did not provide more than 1/2 his own support. Scholarships are excluded from the support calculation
He lived with the parent (including temporary absences such as away at school) for more than half the year
.So, it doesn't matter how much she earned. What matters is how much she spent on support.
See full dependent rules at: https://turbotax.intuit.com/tax-tools/tax-tips/Family/Rules-for-Claiming-a-Dependent-on-Your-Tax-Return/INF12139.html
Q. She had a fellowship awarded for $4750. Does this fellowship count as income?
A. It depends on what she did to get it and how it was reported and what level of education she is at.
In general, scholarships that pay for qualified educational expenses (QEE - tuition, fees, books and other course materials) is tax free. Scholarship amounts that exceed QEE is taxable income, on the student’s tax return. Room & board are not QEE. If include in box 5 of the 1098-T, it is not reported separately.
If box 5 of the 1098-T exceeds box 1, TurboTax (TT) will treat the difference as taxable income, unless you enter additional QEE at books and other expenses.
If you are entering the 1098-T, on your return, TT will advise you that your student has taxable scholarship income. It will not (and should not) enter the taxable scholarship on your tax return.
April 11, 2025
4:35 AM
Yes. This is still true for 2024 and that option should be there. Do you see anything that relates to a hobby? Have you gone past the screens where you entered the 1099-NEC? You should see this o...
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Yes. This is still true for 2024 and that option should be there. Do you see anything that relates to a hobby? Have you gone past the screens where you entered the 1099-NEC? You should see this option after hitting continue when entering the 1099-NEC. It is within 2 to 3 screens of the 1099-NEC entry.
April 11, 2025
4:35 AM
Thank you. I don’t mind them deducting it from my account. I just want to make sure they’ll still be paid either way.
April 11, 2025
4:33 AM
I'm not sure with an amended return,
If we don't provide the 5 day early commitment
You will not be charged the fee