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Does the retirement exclusion amount cover non residents who live in PA but have taxable income in NJ? Thanks!
If you didn't claim Special "Bonus" Depreciation on the assets in the year they were placed into service, you would leave both the SDA and AMT SDA boxes blank. If the SmartCheck process requires an e... See more...
If you didn't claim Special "Bonus" Depreciation on the assets in the year they were placed into service, you would leave both the SDA and AMT SDA boxes blank. If the SmartCheck process requires an entry, try zero.
The section 25D credit on form 5695 that applies to homeowners is not allowed for business property.  Specifically, if the home is used less than 80% for personal use, you can only claim the percenta... See more...
The section 25D credit on form 5695 that applies to homeowners is not allowed for business property.  Specifically, if the home is used less than 80% for personal use, you can only claim the percentage of the credit that applies to personal use (which would be zero for a full time rental).    I believe there is a separate credit under section 48 that is allowed for business property, but I don't know anything about how to claim that credit.  
I got the updates for Turbo, and this time, when I was going through the prompts, it automatically selected "Received interest from seller-financed mortgage".  I didn't put in anything that would hav... See more...
I got the updates for Turbo, and this time, when I was going through the prompts, it automatically selected "Received interest from seller-financed mortgage".  I didn't put in anything that would have warranted.  Prior to it coming to this page, I input bank interests info.   Has anyone else encountered this?  I don't want to pay for help from what seems to be a program error.
I have $5058 in foreign dividends (all qualified dividends), issued from stock I own through global employer stock program based in Switzerland). No capital gains (US or abroad) at all (didn't sell a... See more...
I have $5058 in foreign dividends (all qualified dividends), issued from stock I own through global employer stock program based in Switzerland). No capital gains (US or abroad) at all (didn't sell anything). I paid $1770 in Swiss taxes, as reported on my 1099-DIV form. But, when going through TurboTax, Line 1a (Form 1116) shows only $2734 in gross foreign income (rather than the $5058 I inputed per the 1099-DIV). This ultimately results in a foreign income credit far less than the $1770 I paid.   I know this is not an input error, as $5058 is reflected in Line 3d (of Form 1116), "gross foreign source income."  Anyone know where the $2734 number comes from? And why it would be different than $5058? I've looked at the form for underlying 1116 (Line 1a) worksheet and doesn't seem right to me.
Thanks. you can also do the same for state taxes in california. but all you can do is print out the extension paperwork to mail an extension from turbo tax in state.
will not allow me to update my income for 2024
Try deleting the Form 8915-F and the 8915-F worksheet and a Form 1099-R using this procedure -    Click on Tax Tools on the left side of the online program screen Click on Tools Click on Dele... See more...
Try deleting the Form 8915-F and the 8915-F worksheet and a Form 1099-R using this procedure -    Click on Tax Tools on the left side of the online program screen Click on Tools Click on Delete a form   Note - There may also be a "Qualified Disaster Retirement Plan Distributions" and/or a "2020 Disaster Distribution" form listed that has to be deleted.
Your refund could be offset. The IRS and State Governments have the ability to offset a refund to pay for certain past due debts.  You generally will receive a letter stating what the offset was f... See more...
Your refund could be offset. The IRS and State Governments have the ability to offset a refund to pay for certain past due debts.  You generally will receive a letter stating what the offset was for.    The IRS provides a toll-free number, (800) 304-3107, to call for information about tax offsets.
You can try to switch to Efile https://ttlc.intuit.com/community/e-file/help/how-do-i-change-from-mail-to-e-file-in-turbotax-online/00/26985
There is no guidance on this I can give you.  If you are audited, you are not entitled to any tax break you can't prove with adequate, reliable records, and the auditor has a certain amount of discre... See more...
There is no guidance on this I can give you.  If you are audited, you are not entitled to any tax break you can't prove with adequate, reliable records, and the auditor has a certain amount of discretion in what to accept, but they are going to want to see something.  Of course, most taxpayers are not audited. 
I need to speak to an associate, please.
It was an Irrevocable Trust.  The Trustee fees were not listed on the K1 so I entered as Other Miscellaneous Income - Other Reportable Income.
I would like to file an extension inside TurboTax but pay with my existing IRS.gov website. I have filed the extension successfully with TurboTax and it tells me to go ahead and make any estimated t... See more...
I would like to file an extension inside TurboTax but pay with my existing IRS.gov website. I have filed the extension successfully with TurboTax and it tells me to go ahead and make any estimated taxes due on the IRS website. Once inside my IRS account, I have multiple options to pay, but the main question is what kind of payment type this would be? is this considered an "estimated tax" payment or an "extension" payment? I am just not sure if I pick "extension" if this means I am filing extension via IRS again (in addition to the e-file from turbotax).... Here are the IRS options: Pay 2024 Income tax The amount you owe for the current tax year isn't reflected in your account yet. Pay balance in full Your total amount owed is - $0 balance. Pay towards your balance Make partial payments towards your total balance of - $0 balance. Amended return Make a payment on a recently filled Form 104X, Amended U.S. Income Tax Return. Estimated tax Make estimated tax payments in advance of filing your return. Extension Make a payment to receive an extension to file your Form 1040 tax return without filing Form 4868. Proposed tax assessment Make a payment for a proposed amount due (CP2000, Notice of Deficiency, or other proposed assessment).
If you claim the standard deduction there is no deduction for your mortgage interest. Mortgage interest can only be deducted when you itemize your deductions.   You can try manually switching to ... See more...
If you claim the standard deduction there is no deduction for your mortgage interest. Mortgage interest can only be deducted when you itemize your deductions.   You can try manually switching to itemized deductions. This worked for someone else that I helped with a similar situation.   If you are using TurboTax Online to switch to Itemized Deductions from the Standard Deduction you will do the following: In your left panel scroll down to "Tax Tools" Click on "Tools" Click on the box "Topic Search" In the Box "I'm looking for:" type in "standard deduction" This will take you to the page "Based on what you told us..." Here you can change your deduction by clicking the box "Change my Deduction"   If you are using TurboTax Desktop to switch to the Standard Deduction you will do the following: Go to "Federal Taxes" tab in the gray bar at the top of your screen Select the "Deductions & Credits" tab (under Federal Taxes in the gray bar at top of your screen Click on "I'll Choose What to Work On" Select "Continue" at the bottom of page Select "Continue" on the next page that says "Let's Check Your Deductions and Credits" Select "Continue"  on the next page that says "Here Are Your 2024 Deductions & Credits" The following page will give you the opportunity to change your deduction by clicking on the box "Change my deduction"   You could also try deleting your Form 1098's and re-entering them. Sometimes this works. Also, you must answer the question, "Is this loan secured by a property of yours?" as "Yes" in order for your mortgage interest to be included.   You can get back to your entry screens in TurboTax for Mortgage Interest to check that your entries are correct as follows:    Click on "Search" (magnifying glass) at the top right of your screen and  Type "1098" in the search bar. ‌ Click on "Jump to 1098."  This will allow you to review your entries for your mortgage interest from Form 1098 and delete your Forms 1098.   Click here for "Where do I enter my 1098 mortgage interest statement?"   Click here for additional information on the Mortgage Interest Deduction   Click here for additional information on mortgage interest.
How do I switch to e-file?
It depends.  What were they for? If it is for your job as an employee or personal travel, it is not deductible. If it is for your self employed business, then it would be under travel or miscel... See more...
It depends.  What were they for? If it is for your job as an employee or personal travel, it is not deductible. If it is for your self employed business, then it would be under travel or miscellaneous expenses.