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April 13, 2025
9:18 AM
You can make the allocation based on the number of days you worked at each location.
April 13, 2025
9:18 AM
1 Cheer
Once you delete this first form, you can enter the second form, if it will be taxable. If all of it was used on 529 qualified Room and Board and Qualified Education Expenses - Internal Revenue Servi...
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Once you delete this first form, you can enter the second form, if it will be taxable. If all of it was used on 529 qualified Room and Board and Qualified Education Expenses - Internal Revenue Service, it should not be entered. IRS Publication 970, Tax Benefits for Education states: Page 45: Don't report tax-free distributions (including qualifying rollovers) on your tax return.
April 13, 2025
9:17 AM
@Grahamzack If your only income is wages that would have reported on your 2024 Federal Tax Return Form 1040 on Line 1a. Then your Total Income on Form 1040 on Line 9 would be the same. And your Adj...
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@Grahamzack If your only income is wages that would have reported on your 2024 Federal Tax Return Form 1040 on Line 1a. Then your Total Income on Form 1040 on Line 9 would be the same. And your Adjusted Gross Income on Line 11 would also be the same.
Please verify by looking at the Form 1040
Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
April 13, 2025
9:17 AM
Form VEC-B-14 is used to request a physician's certificate of health in Virginia.
Do you have income to report on a 2024 Federal income tax return?
If so, retain a copy of the VEC-B-14 wi...
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Form VEC-B-14 is used to request a physician's certificate of health in Virginia.
Do you have income to report on a 2024 Federal income tax return?
If so, retain a copy of the VEC-B-14 with your income tax records should a tax authority have a question at a later time.
April 13, 2025
9:17 AM
Thank you, just wanted to double check!
April 13, 2025
9:17 AM
Please follow these steps:
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R” and select to edit the Form 1099-R
Continue through the screens
Enter t...
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Please follow these steps:
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R” and select to edit the Form 1099-R
Continue through the screens
Enter the RMD amount for this account on the "Let's get more information about your Required Minimum Distribution (RMD)" screen
Continue until "How much of this distribution applied to your December 31, 2024 RMD?" screen and select "The entire distribution was an RMD" /or select "Only part of this distribution was a RMD" and enter the amount of RMD (if this distribution includes RMD for other IRA accounts then you included the amount here)
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.
April 13, 2025
9:17 AM
Yes, you may be able to deduct certain taxes paid on a new vehicle purchased in Colorado, but only specific portions of the vehicle registration fees are deductible. Here's how it works:
Ded...
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Yes, you may be able to deduct certain taxes paid on a new vehicle purchased in Colorado, but only specific portions of the vehicle registration fees are deductible. Here's how it works:
Deductible Portion: The deductible part of your Colorado vehicle registration fee is the ownership tax. This tax is based on the value of your vehicle and is considered a personal property tax
Non-Deductible Portions: Other fees such as license fees, emissions testing fees, and administrative fees are not deductible
To enter this information in TurboTax:
Open or continue your return.
Navigate to the car registration section:
Go to car registration. or go to magnifying glass at top right of screen and Search for car registration and select the Jump to link.
Answer Yes to Did you pay any car registration fees in 2024? and then enter them on the next screen.
For more detailed guidance, you can refer to the following sources:
TurboTax Help Article on Deductible Car Registration Fees
Accounting Insights on Colorado Vehicle Registration Tax
April 13, 2025
9:16 AM
What does it means when it says financial institution too many characters
Topics:
April 13, 2025
9:16 AM
Yes, you should enter the final inventory as 0, even if that results in a loss of over $700. Also, since you are closing your business this year, you need to report your business and continue the en...
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Yes, you should enter the final inventory as 0, even if that results in a loss of over $700. Also, since you are closing your business this year, you need to report your business and continue the entries as if you were reporting income and expenses from your business. TurboTax will ask you for more information about your business, because there are some situations that could still affect your return this year. Some of those could be if you sold your business, or if you had business property that you disposed of.
When you edit this prompt, TurboTax will ask if you stopped your business, and will ask for more information on how to closed the business. You will still have to go through the interview process for the business. The program will ask about income and expenses, and about any assets that the business had.
For more information visit the following links for both IRS and TurboTax information on closing a business:
Steps to take to close your business
Closing a Business
April 13, 2025
9:16 AM
If the LLC is receiving the income and expenses, you should file the partnership return, UNLESS you are married and live in a community property state, then you can continue to report it on your Sche...
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If the LLC is receiving the income and expenses, you should file the partnership return, UNLESS you are married and live in a community property state, then you can continue to report it on your Schedule E.
April 13, 2025
9:16 AM
What is the best way about doing this. IRS online says I had to file online before January 31st. I tried going through their portal but is asking for EIN which I dont have.
Topics:
April 13, 2025
9:15 AM
2024 Turbo Tax Deluxe purchased (Mac) - unable to log in with a second user/computer, please help, thanks
April 13, 2025
9:15 AM
I was able to file my state and federal, they do not have a watermark, only the city taxes and it is well past the date. I spoke to someone at turbo tax and they cant figure it out either.
Topics:
April 13, 2025
9:14 AM
It sounds like the text message could be a scam.
Did you receive an email with acceptance confirmation for both federal and state? Does it show accepted on your home screen?
How do I check ...
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It sounds like the text message could be a scam.
Did you receive an email with acceptance confirmation for both federal and state? Does it show accepted on your home screen?
How do I check my e-file status?
April 13, 2025
9:14 AM
1 Cheer
MA has 2 deductions available and follow the federal law. A dependent can't take the deduction. References: Massachusetts Education-Related Tax Deductions - Mass.gov and Student Loan Interest Ded...
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MA has 2 deductions available and follow the federal law. A dependent can't take the deduction. References: Massachusetts Education-Related Tax Deductions - Mass.gov and Student Loan Interest Deduction
April 13, 2025
9:13 AM
I have the desktop software version, so I’ve already paid for the product. On the qualified dividends in capital gain tax worksheet, the amount online 22 is different than what I calculate whe...
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I have the desktop software version, so I’ve already paid for the product. On the qualified dividends in capital gain tax worksheet, the amount online 22 is different than what I calculate when I use the IRS‘s worksheet. I take line 5 from the qualified dividends and capital gain tax worksheet to use on the IRS worksheet and it returns a different result. The TurboTax desktop software does not let you see the tax computation worksheet. It’s considered an internal calculation. I think a software developer with TurboTax needs to look at this
April 13, 2025
9:13 AM
I am working on my IL nonresident return and it is asking about whether the income was earned in IL. However, my employer will not provide a letter with company letterhead that shows either the number...
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I am working on my IL nonresident return and it is asking about whether the income was earned in IL. However, my employer will not provide a letter with company letterhead that shows either the number of days I was in the office in 2024, or the amount of money I made while working from IL.
April 13, 2025
9:13 AM
It might be best if I can take a look at your return. You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instru...
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It might be best if I can take a look at your return. You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions for TurboTax Online:
From the left menu select Tax Tools.
Then select Tools below Tax Tools.
A window will pop up which says Tools Center.
On this screen, select Share my file with Agent.
You will see a message explaining what the diagnostic copy is. Click okay through this screen and then you will get a Token number.
Reply to this thread with your Token number and add @DanaB27 . This will allow us to open a copy of your return without seeing any personal information.
The instructions for TurboTax Download:
On your menu bar at the very top, click "Online"
Select "Send Tax File to Agent"
Click "Send"
The pop-up will have a token number
Reply to this thread with your Token number and add @DanaB27 . This will allow us to open a copy of your return without seeing any personal information.
We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.
April 13, 2025
9:13 AM
You cannot file your tax return without this information. You can request the information from your employer or former employer. If you are unable to reach them for this information, you can file y...
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You cannot file your tax return without this information. You can request the information from your employer or former employer. If you are unable to reach them for this information, you can file your return using the information contained on your Wage & Income transcript from the IRS website. However, the transcript will not contain information about your state, if you live in a state with income taxes.