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April 13, 2025
10:14 AM
So where do we enter the sales tax at? Do we deduct it where we enter the 1099-k information or is there somewhere lese we list it? Thank you
A student is considered full-time if they are in school at least five (5) months taking the course load considered full-time by the school. A student temporarily away from home for the purposes of a...
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A student is considered full-time if they are in school at least five (5) months taking the course load considered full-time by the school. A student temporarily away from home for the purposes of attending school is considered to have lived with the parent all year for purposes of determining dependncy. @lls69
April 13, 2025
10:13 AM
The MCC program is a homebuyer assistance program designed to help lower‐income families afford homeownership. The program allows homebuyers to claim a dollar‐for‐dollar tax credit for a portion of m...
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The MCC program is a homebuyer assistance program designed to help lower‐income families afford homeownership. The program allows homebuyers to claim a dollar‐for‐dollar tax credit for a portion of mortgage interest paid per year, up to $2,000.
If you had participated in this program (through a state or local government agency) when you purchased your home, you would have been advised of that, and have documentation concerning that. The Certificate has a credit rate % listed on it, which is what TurboTax is asking for.
If this doesn't apply, skip that entry. Here's more info on the Mortgage Credit Certificate, Form 8936.
If you have a Form 8936 in your return and don't have an MCC, here's How to Delete Forms in TurboTax Online.
@Brodyschafer
April 13, 2025
10:13 AM
Requiring desktop users to start over, if they imported a .pdf (instead of .tax) and did not begin with transferring another tax data file for 2024, is how Intuit evidently operates. "Too bad", if y...
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Requiring desktop users to start over, if they imported a .pdf (instead of .tax) and did not begin with transferring another tax data file for 2024, is how Intuit evidently operates. "Too bad", if you hand entered Schedule D information or spend gobs of time doing your return. That missing loss-carry forward, etc., can no longer be brought over. If you manually enter it, you risk error, or other omission. Import should be allowed after a return has been started. Be kind, Intuit, instead of the only game in town.
April 13, 2025
10:13 AM
Do not do that. You must reconcile it in the Step by Step process.
The 1098 (s) that were paid off when you got he new loan should show zero as a mortgage balance.
That will certainly reduce...
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Do not do that. You must reconcile it in the Step by Step process.
The 1098 (s) that were paid off when you got he new loan should show zero as a mortgage balance.
That will certainly reduce the amount you owe and may noy trigger the limitation.
April 13, 2025
10:13 AM
You will enter it as Interest received on a seller-finance loan.
Open TurboTax
Select Income & Expenses
Scroll down to Less Common Investments & Savings
On Interest from Seller-Fin...
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You will enter it as Interest received on a seller-finance loan.
Open TurboTax
Select Income & Expenses
Scroll down to Less Common Investments & Savings
On Interest from Seller-Financed Loans, select Start/Revisit.
April 13, 2025
10:13 AM
I did not file a return for that year.
Topics:
April 13, 2025
10:13 AM
Does it change anything if my prior payments in 2023 already got me the full 2023 AOC credit? Which means even if that payment in 2023 for 2024 tuition was not counted in 2023, I would have still got...
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Does it change anything if my prior payments in 2023 already got me the full 2023 AOC credit? Which means even if that payment in 2023 for 2024 tuition was not counted in 2023, I would have still gotten the full AOC credit in 2023.
April 13, 2025
10:13 AM
You can view a preview of your return before you file by clicking the link below. You will also need to pay your TurboTax fees first before you can see all forms and schedules available.
How d...
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You can view a preview of your return before you file by clicking the link below. You will also need to pay your TurboTax fees first before you can see all forms and schedules available.
How do I preview my TurboTax Online return before filing?
April 13, 2025
10:11 AM
Is it on my w-2?
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April 13, 2025
10:11 AM
You are right. Mail is the only option. It is a glitch in Turbo Tax that, after giving the warning the e-file window is closed on 10/31/2024, it continues to recommend e-file. I went all the way to "...
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You are right. Mail is the only option. It is a glitch in Turbo Tax that, after giving the warning the e-file window is closed on 10/31/2024, it continues to recommend e-file. I went all the way to "Transmit electronic refunds" following the recommendation, and that's when that message appeared again as an error. Filing by mail now.
April 13, 2025
10:11 AM
A Social Security number for the child(ren) is required for this credit.
April 13, 2025
10:11 AM
The social security number on file must match the name and birthdate to file. Review all 3 entries looking for a mistake.
April 13, 2025
10:10 AM
I think I set it to use the same card I used to pay for Turbotax itself, but I'm not sure.
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April 13, 2025
10:10 AM
1 Cheer
In general, residents of Massachusetts must report all income regardless of where it was earned- and you are correct that you can claim the credit for taxes paid to another state so you are not doubl...
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In general, residents of Massachusetts must report all income regardless of where it was earned- and you are correct that you can claim the credit for taxes paid to another state so you are not double-taxed.
April 13, 2025
10:09 AM
I moved from NYC to Mass and am having problems with the NYC part year return. NYS Form IT-360.1, Change of City Resident Status, Part 1 Colum B - Amount of New York City resident period correct...
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I moved from NYC to Mass and am having problems with the NYC part year return. NYS Form IT-360.1, Change of City Resident Status, Part 1 Colum B - Amount of New York City resident period correctly picks up all the allocated New York items in Column B, but when it hits line 19 New York Modifications (for exempt allocated retirement income and interest from US govt securities), instead of subtracting the amount, it adds it to the New York Adjusted Gross Income. This seems incorrect in that it's adding the allocated exempt NYC income back into the NYC tax calculation. It's increasing my NYC tax considerably. I've looked at all the entries I've put into the NYC portion and they seem correct. The New York state allocation and tax on IT-203 are all calculating correctly. What should I do to correct this?
April 13, 2025
10:08 AM
I had have two new mortgages in 2024 that combined exceed $750K. I need to manually override the TT mortgage interest to reflect the reduction. I enter the number in "Your Adjustments*" but nothing ...
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I had have two new mortgages in 2024 that combined exceed $750K. I need to manually override the TT mortgage interest to reflect the reduction. I enter the number in "Your Adjustments*" but nothing happens. Anyone else have this happen?
April 13, 2025
10:08 AM
i found the same problem too. how do i manually enter into the correct numbers in the online version of Turbotax? Thanks
April 13, 2025
10:08 AM
Most likely not- you might be able to avoid tax if it is a Like-Kind exchange- Like Kind exchange only applies to real property that is business property and there are other requirements. See What i...
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Most likely not- you might be able to avoid tax if it is a Like-Kind exchange- Like Kind exchange only applies to real property that is business property and there are other requirements. See What is a like-kind (Section 1031) exchange?
April 13, 2025
10:07 AM
1 Cheer
No. Expenses paid in2023 must be used for credit on the 2023 return even though paid for 2024 expenses