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April 14, 2025
5:14 PM
Use consulting and/or education when searching for a business code. If you can't find anything on the list that matches your description, use 999999.
Business codes are not used on your t...
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Use consulting and/or education when searching for a business code. If you can't find anything on the list that matches your description, use 999999.
Business codes are not used on your tax return at all - those are used for statistical purposes, so don't fret if you can't find a match. The code you enter won't affect the outcome of your tax return.
To see how to enter the code in Turbo Tax, click on this link, and choose your platform. The directions differ depending on your version.
April 14, 2025
5:14 PM
@jprochas
April 14, 2025
5:13 PM
Sorry, For an IRA contribution. If you only have self-employment income you can only contribute up to your net profit reduced by the deduction allowed for one-half of your self-employment taxes then...
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Sorry, For an IRA contribution. If you only have self-employment income you can only contribute up to your net profit reduced by the deduction allowed for one-half of your self-employment taxes then only up to the max IRA limit. See IRS publication 590 http://www.irs.gov/pub/irs-pdf/p590a.pdf So check 1040 Schedule 1 line 15. You have to deduct that amount from your Schedule C Net Profit. That will give you the allowed contribution for self employment & 1099NEC income.
April 14, 2025
5:13 PM
@ThomasM125 So I left NY W2 as is, and selected to "Allocate by percentage", and calculated the percentage by dividing the price of the vested stock shares by the amount in box 1 (and same in box 1...
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@ThomasM125 So I left NY W2 as is, and selected to "Allocate by percentage", and calculated the percentage by dividing the price of the vested stock shares by the amount in box 1 (and same in box 16) of the NY W2. Sound good?
April 14, 2025
5:13 PM
It depends on your remaining basis in the S-Corp, which is calculated on Form 7203. If you have remaining basis of at least as much as the cash you distribute from the S-Corp, this transaction is not...
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It depends on your remaining basis in the S-Corp, which is calculated on Form 7203. If you have remaining basis of at least as much as the cash you distribute from the S-Corp, this transaction is not taxable. However, if you withdraw funds in excess of your remaining basis, this is transaction may be taxed as ordinary income.
April 14, 2025
5:13 PM
April 14, 2025
5:13 PM
I need to edit my routing and account number for my refund. selecting "other refund options" doesnt prompt me
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April 14, 2025
5:13 PM
Topics:
April 14, 2025
5:12 PM
What if the company is not bankrupt ? Can she put in a deduction for a bad debt?
April 14, 2025
5:12 PM
https://turbotax.intuit.com/irs-tax-extensions/
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-extension/need-file-extension-personal-state-taxes/L32Mt8ZNv_US_en_US?uid=m9a3q808
April 14, 2025
5:12 PM
1 Cheer
To access your tax return after you've e-filed it or printed it as part of mailing your return to the IRS, in TurboTax Online: Sign in to TurboTax. Select Tax Home from the menu. Scroll down t...
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To access your tax return after you've e-filed it or printed it as part of mailing your return to the IRS, in TurboTax Online: Sign in to TurboTax. Select Tax Home from the menu. Scroll down to Your tax returns & documents. Select 2024, and then select Add a State (you're not actually adding a state, this just gets you back in). You will now be in your return. Select Other Tax Situations on the left menu to find Estimated Taxes. Or, to print a copy, go to Tax Tools on the left menu, then Print Center. See this help article for more information. @jprochas
April 14, 2025
5:12 PM
@LenaH Thank you!!!
April 14, 2025
5:12 PM
I efiled TurboTax and select direct debit for both Federal and State with all my bank info. In state form 540 it did show my bank info with account no. and routing no. and withdraw date. In Federal...
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I efiled TurboTax and select direct debit for both Federal and State with all my bank info. In state form 540 it did show my bank info with account no. and routing no. and withdraw date. In Federal form 1040 it did not show this info, and ask to visit irs.gov/Payments . But on filing instructions it shows: Your return shows you have elected to pay your balance due of | $XXXX.00 by Direct Debit using the following information: | - Amount Withdrawn: $XXXX.00 | - Account Number: 000XXXXXXXXX | - Routing Transit Number: 121000XXX | - Date of Withdrawal: 04/15/202 Is it error from TurboTax ?
April 14, 2025
5:11 PM
April 14, 2025
5:11 PM
Paying the TurboTax account fees does not file a tax return.
Did you e-file your tax return and was it accepted? Only the IRS and your State control when and if a Federal or State tax refund i...
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Paying the TurboTax account fees does not file a tax return.
Did you e-file your tax return and was it accepted? Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.
You complete your tax return by finishing all 3 Steps in the File section. In Step 3, to e-file your tax return, you must click on the large button labeled "Transmit my returns now".
After completing the File section and e-filing your tax return you will receive two emails from TurboTax. The first email when your tax return was transmitted and the second email when the tax return has either been accepted or rejected.
Note - Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund. Only the taxpayer listed on the tax return can obtain the status of a tax refund or a tax return.
To check the status of an e-filed return, open up your desktop product or log into your TurboTax Online Account. You can find your status within the TurboTax product.
If the tax return was not e-filed then it will have to be printed, signed, date and mailed to the IRS
To access your prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/
Start the 2024 online tax return by entering some personal information then click on Tax Home on the left side of the screen.
On the Tax Home webpage -
Scroll down to the section Your tax returns & documents. Click on the Year and Click on Download/print return (PDF)
April 14, 2025
5:11 PM
It depends. The tax implications of selling on a foreign online platform while shipping merchandise from the U.S. depend on several factors, including where your business is legally established, wher...
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It depends. The tax implications of selling on a foreign online platform while shipping merchandise from the U.S. depend on several factors, including where your business is legally established, where the income is sourced, and whether tax treaties apply.
If you are a U.S. citizen, resident, or business entity, you are generally required to pay U.S. income tax on worldwide income, including profits from foreign sales.
The IRS considers income to be U.S.-sourced if the sale is made within the U.S. or if the goods are shipped from the U.S.
You may need to check the tax treaty of the country you are shipping to to see if your income is taxed there or not.
United States income tax treaties - A to Z
April 14, 2025
5:11 PM
convenio de pagos