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April 13, 2025
7:34 AM
1 Cheer
The Missouri Form MO-CR is for 2024 Credit for Income Taxes Paid to Other States or Political Subdivisions.
This form is completed automatically in TurboTax.
An image of the form and instruct...
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The Missouri Form MO-CR is for 2024 Credit for Income Taxes Paid to Other States or Political Subdivisions.
This form is completed automatically in TurboTax.
An image of the form and instructions are shown above.
April 13, 2025
7:33 AM
Topics:
April 13, 2025
7:31 AM
If your rental property is located New York but you are not a resident of New York make sure you first set up that state properly in My Info (TurboTax Online) or Personal Info (TurboTax Desktop). Tha...
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If your rental property is located New York but you are not a resident of New York make sure you first set up that state properly in My Info (TurboTax Online) or Personal Info (TurboTax Desktop). That way, when you do your state taxes, we'll be ready to go.
To enter your rental:
Open or continue your return.
Navigate to the rentals section:
TurboTax Online/Mobile: Go to rentals.
TurboTax Desktop: Search for rentals and select the Jump to link.
Answer Yes to the question Did you have any income from rentals or royalties?
On the next screen, Let's see if you're a real estate professional, select any options that apply to you.
On the screen What are you here to report?, select Rental property and Continue.
If you have more than one rental property to report, no problem—just start with one, and we’ll come back to the other one(s) later.
On the following screens, enter all the info we need about your rental property, including a description of the property, your rental income, any expenses and assets, and other less common situations about your rental.
Tips:
Rent is considered income in the year you received it, not the year it applies to. This means that a rent payment for the month of January 2025 collected in December 2024 is reported on your 2024 return.
If you're also filing a nonresident state return to report income from an out-of-state rental property, be sure to complete your nonresident state return before you prepare your resident state return when you get to the State taxes section.
You can enter up to 45 rental properties in TurboTax.
April 13, 2025
7:31 AM
Are you using TurboTax Online? If yes, then you need to select "I transferred all or part of this money directly to charity" on the "Do any of these situations apply to you?" screen.
Please not...
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Are you using TurboTax Online? If yes, then you need to select "I transferred all or part of this money directly to charity" on the "Do any of these situations apply to you?" screen.
Please note you must be 70 1/2 or older to make a QCD and get this option in TurboTax.
@tpaull
April 13, 2025
7:31 AM
Which county do I list as my county of residence?
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April 13, 2025
7:30 AM
If there is no state distribution amount in box 16 then enter the amount from box 1 in box 16 to remove this error.
April 13, 2025
7:30 AM
Q. Can he claim the tuition reported to him on Form 1098-T to claim the Education Tax Credit even though technically I paid it?
A. Yes. Although the general rule, in taxes, is that you must be the ...
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Q. Can he claim the tuition reported to him on Form 1098-T to claim the Education Tax Credit even though technically I paid it?
A. Yes. Although the general rule, in taxes, is that you must be the one making the payment, to get the deduction or credit, there is an exception for education.
Q. I do not think I can claim as a dependent. However, he had a part time job and earned some income?
A. If his income was over $5050, you cannot claim him. However, if he takes 12 credit hours (full time) for one semester (not quarter, it has to cover parts of 5 months), the dependent rules change.
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
https://www.irs.gov/help/ita/whom-may-i-claim-as-a-dependent
April 13, 2025
7:30 AM
Yes, I qualify for the deduction. Turbotax says I qualify then it has me put all the info in. When it calculates everything it says that I have a net income of zero so I have to carry it over to nex...
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Yes, I qualify for the deduction. Turbotax says I qualify then it has me put all the info in. When it calculates everything it says that I have a net income of zero so I have to carry it over to next year. However, I don't have a net income of zero.
April 13, 2025
7:30 AM
Problem solved! After exiting Form View and going back to Business > Business Income and Expenses > Any Miscellaneous Expenses? in "Step-By-Step" view, I was able to edit the fields from there. Fi...
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Problem solved! After exiting Form View and going back to Business > Business Income and Expenses > Any Miscellaneous Expenses? in "Step-By-Step" view, I was able to edit the fields from there. Final Review now runs with no errors 🙂.
April 13, 2025
7:30 AM
Turbo Tax Business is asking if I am filing as a Sole Proprietor.
April 13, 2025
7:29 AM
In TurboTax Premier Online, report self-employment income and expense by following these directions:
Down the left side of the screen, click Federal.
Down the left side of the screen, cli...
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In TurboTax Premier Online, report self-employment income and expense by following these directions:
Down the left side of the screen, click Federal.
Down the left side of the screen, click Wages & Income.
Click on the drop down arrow to the right of Self-employment.
Click to the right of Self-employment income and expenses.
At the screen Tell us the type of self-employment work you do, enter the answer and click Continue.
Establish the self-employment activity and report the income and expense.
See this TurboTax Help.
@TooManySecretsToTell
April 13, 2025
7:28 AM
not 100% right not all NY tax will become credit for NJ/CT because NY has a higher tax rate
April 13, 2025
7:28 AM
Is there something I can do to satisfy this country code issue? I can do nothing with this turbo tax who now has my money without giving me what I paid for.
April 13, 2025
7:28 AM
There is a bug in Turbo Tax - I rent out ag land 365 days a year. When asked by Turbo Tax "Was farm land rented every single day in 2024, I answered "Yes" and "Yes, it always was." However, when...
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There is a bug in Turbo Tax - I rent out ag land 365 days a year. When asked by Turbo Tax "Was farm land rented every single day in 2024, I answered "Yes" and "Yes, it always was." However, when I reached Federal Review, Turbo Tax app has auto-populated "Days of personal use" with 365. Since "Days rented at fair rental value" and "Days of personal use" MUST equal 365, it does not allow my return to pass federal review. Note: there is no way to update the "Days of personal use" with a "0" on the review. Please correct one of two ways: 1. Do not auto-populate "Days of personal use" with 365 when the user has entered "Yes" to "every single day in 2024" 2. Or, give the user the ability to change the "Days of personal use" to "0" on he review Fyi, I also tried answering "No, sometimes it wasn't" under the 'Yes" response and, again, with the correct days added, it does not allow my return to pass federal review. Please correct this asap so I can file a correct return.
April 13, 2025
7:27 AM
April 13, 2025
7:27 AM
Unfortunately, there is not a list of shortcut keys available. Since TurboTax is a do it yourself software, the program relies on customers reading through each screen, answering questions as needed...
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Unfortunately, there is not a list of shortcut keys available. Since TurboTax is a do it yourself software, the program relies on customers reading through each screen, answering questions as needed for any given topic, or marking a box yes or no. These answers would then possibly generate another screen if needed. This is done to ensure your tax return is complete and covers any other possible credits or deductions you could be entitled to based upon your answers.
April 13, 2025
7:27 AM
I had tried all of your suggestion and it's still not work. I gave up and had to manually filled. This is not good for paying the SW and doesn't work on Fidelity. All other financial institutions wor...
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I had tried all of your suggestion and it's still not work. I gave up and had to manually filled. This is not good for paying the SW and doesn't work on Fidelity. All other financial institutions worked.
April 13, 2025
7:27 AM
In some cases, TurboTax will make the calculations for you and allocate a portion of shared expenses to the rental property and to the homeowner deductions. In other situations, you must make the cal...
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In some cases, TurboTax will make the calculations for you and allocate a portion of shared expenses to the rental property and to the homeowner deductions. In other situations, you must make the calculations yourself. This option depends on how the Property Profile was set up.
Return to your rental property and Edit (pencil icon) the rental property info. On the page "Let us calculate your expense deduction for you" you can choose to either allow TurboTax to make the calculations for you or to enter the split expenses yourself. This option appears only if you had zero Personal Use days.
If you choose to let TurboTax calculate the allocation, shared expenses will be pro-rated based on the number of rental days. Expenses that are specific to the rented portion of your home should be entered on the page titled "Any Miscellaneous Expenses?". Entries made on this page will not be allocated.
April 13, 2025
7:26 AM
I originally entered the full name of my state, & was told that I' d entered too many characters. However, after changing my response to the standard 2 letter abbreviation of my states name, I'm sti...
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I originally entered the full name of my state, & was told that I' d entered too many characters. However, after changing my response to the standard 2 letter abbreviation of my states name, I'm still receiving the same message. That two characters is too many.
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April 13, 2025
7:26 AM
I ended up starting over and imported the Wealthfront taxes first.
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