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April 14, 2025
1:24 PM
LAST YEAR THEY SAID I TYPED WRONG BUT I KNOW I DID NOT. BANK INFO WAS VERIFIED. NOW THIS YEAR STATES IT IS WRONG. HOW TO GET THIS CORRECTED? DO I HAVE TO REQUEST CHECK? BUT I NEED CORRECTED FOR FUTU...
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LAST YEAR THEY SAID I TYPED WRONG BUT I KNOW I DID NOT. BANK INFO WAS VERIFIED. NOW THIS YEAR STATES IT IS WRONG. HOW TO GET THIS CORRECTED? DO I HAVE TO REQUEST CHECK? BUT I NEED CORRECTED FOR FUTURE. AWAITING YOUR ANSWER
April 14, 2025
1:24 PM
Mileage goes on a Schedule C if you are self-employed. Itemized deductions like mortgage interest , property tax, medical expenses and charity donations go on Schedule A. So......you can take both...
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Mileage goes on a Schedule C if you are self-employed. Itemized deductions like mortgage interest , property tax, medical expenses and charity donations go on Schedule A. So......you can take both if you are self-employed.
April 14, 2025
1:24 PM
April 14, 2025
1:24 PM
No, estimated quarterly payments are due on time. See various deadlines postponed to May 1, 2025.
April 14, 2025
1:23 PM
If your spouse filed Married Filing Jointly then you can get a transcript from the IRS using your social security number. However, if your spouse filed Married Filing Separately, then you must be an ...
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If your spouse filed Married Filing Jointly then you can get a transcript from the IRS using your social security number. However, if your spouse filed Married Filing Separately, then you must be an estate administrator, executor, or personal representative in order to obtain that information. See: Request deceased person's information. For security purposes, you may not be able to make changes to access his account. See, Request to access your TurboTax Account.
April 14, 2025
1:23 PM
It depends on your answers to the property profile questions. If you have 33% business use, you would enter the full amount for expenses so the rental expenses equal 33% of the total. Enter any expen...
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It depends on your answers to the property profile questions. If you have 33% business use, you would enter the full amount for expenses so the rental expenses equal 33% of the total. Enter any expenses specific to the rental on the last expense entry page "Any other rental expenses?" (these are not allocated).
April 14, 2025
1:23 PM
While working on my son’s 2024 faxes, I was asked the amount he had withheld for state taxes in South Carolina for 2023. I didn’t have the info at hand so I just put in a filler mat so I could keep g...
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While working on my son’s 2024 faxes, I was asked the amount he had withheld for state taxes in South Carolina for 2023. I didn’t have the info at hand so I just put in a filler mat so I could keep going. Now I can’t figure out how to correct that amount. Anyone have an idea.
April 14, 2025
1:22 PM
If your parents are choosing to claim 0% then yes, your percentage would be 0. Basically, you and your parents can agree on how much you both would claim. Many times parents will claim the full 100...
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If your parents are choosing to claim 0% then yes, your percentage would be 0. Basically, you and your parents can agree on how much you both would claim. Many times parents will claim the full 100%, but you do need to talk to them to be sure that is what they are doing. Also, if you are a dependent on their return, you would not enter the 1095-A on your return.
April 14, 2025
1:22 PM
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April 14, 2025
1:22 PM
Review your personal information that you've entered in TurboTax, which is needed to help ensure that you create the correct state tax returns.
Review your answers on the Personal profile scree...
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Review your personal information that you've entered in TurboTax, which is needed to help ensure that you create the correct state tax returns.
Review your answers on the Personal profile screen.
Select your name under My Info
Select Revisit
Scroll through the screens to ensure that you have the correct answers for your state of residence
Scroll down to Other State Income and select Edit
Check your answer for Did you make money in any other states? Answer Yes, and indicate that you made money in another state.
After you complete your federal tax return and you move to the State Taxes sections, both your non-resident state and resident state returns will be listed. Prepare your non-resident tax return first. Depending upon the state you live in, you may get a credit on your resident tax return if you paid taxes on you non-resident return.
For additional information, refer to the TurboTax Help articles Do I have to file tax returns in more than one state?, Why would I have to file a nonresident state return? and How do I file a nonresident state return?
April 14, 2025
1:22 PM
Yes, you can scroll to the bottom and click on Done with Income - or you can click on Deductions & Credits and to move out of the income area.
April 14, 2025
1:22 PM
April 14, 2025
1:22 PM
It's unclear. My advice would be two fold.
Clear the filed with the delete key and then clear all the possible debris (TurboTax Online only).
Next, re-enter the zip code and be sure you are u...
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It's unclear. My advice would be two fold.
Clear the filed with the delete key and then clear all the possible debris (TurboTax Online only).
Next, re-enter the zip code and be sure you are using numbers only. Do not enter any additional 4 digits or dashes.
In this situation, first please try clearing the cookies and cache. It handles many issues that seem nonsensical on a regular basis with online activity.
Close your TurboTax return first.
Watch to be sure you are selecting 'all time' as example. Do not use selections like 'last hour' for those browsers that give you options.
How to clear your cache
Once this is complete open your return and try again.
If you are using TurboTax Desktop, save your return, then at the top select Online, then Check for updates.
April 14, 2025
1:22 PM
Is it an EV? Is it for business use ---are you self-employed? If not, you can enter the sales tax, which might have no effect at all unless you have enough other itemized deductions like mortgage...
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Is it an EV? Is it for business use ---are you self-employed? If not, you can enter the sales tax, which might have no effect at all unless you have enough other itemized deductions like mortgage interest, medical expenses or charity donations to exceed your standard deduction.
SALES TAX
You can enter the sales tax you paid for the car you purchased in 2024 by going to Federal>Deductions and Credits>Estimates and Other Taxes Paid> Sales Tax. You will be asked if you paid sales tax on a major purchase, and you will be able to enter the sales tax you paid for your new vehicle.
Sales tax is an itemized deduction. Unless you have enough other itemized deductions to exceed your standard deduction the sales tax will have no effect on your tax due or refund.
“Major purchases” that you can enter for the sales tax deduction include:
Motor Vehicles (cars, trucks, motor homes, RV’s, sport utility vehicles and off-road vehicles
Aircraft or boats
Mobile homes
Manufactured housing
Building materials for major home improvements
You cannot deduct: furniture, jewelry, home electronics such as TV’s or computers
Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund. The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting tough thresholds—medical expenses, for example, must meet a threshold that is pretty hard to reach. (Only the amount that is MORE than 7.5% of your AGI counts) The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you. Under the tax laws that have been in effect since 2018, some deductions have been capped—there is a $10,000 limit to the itemized deductions for state, local, property and sales taxes.
The standard deduction makes some of your income “tax free.” It is not a refund. You will see your standard or itemized deduction amount on line 12 of your 2024 Form 1040.
2024 STANDARD DEDUCTION AMOUNTS
SINGLE $14,600 (65 or older/legally blind + $1950)
MARRIED FILING SEPARATELY $14,600 (65 or older/legally blind + $1550)
MARRIED FILING JOINTLY $29,200 (65 or older/legally blind + $1550)
HEAD OF HOUSEHOLD $21,900 (65 or older/legally blind + $1950)
April 14, 2025
1:21 PM
I choose the free turbo tax so why do I have to pay?
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April 14, 2025
1:21 PM
Two possibilities:
One- state sales tax deduction if you itemize.
Two, if you have business use, you can add the car as an asset.
April 14, 2025
1:21 PM
I’m doing summary entries as I do every year. This year no adjustments/wash sales etc. 1099-B shows three entries categorized as, Form 8949 Type A (short term basis reported), Type D (long term bas...
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I’m doing summary entries as I do every year. This year no adjustments/wash sales etc. 1099-B shows three entries categorized as, Form 8949 Type A (short term basis reported), Type D (long term basis reported), and Type F (long term Form 1099 not received). I filled in the summary sales as I do every year through the interview. Schedule D populated correctly for the amounts Type A and Type D, however I could not find where to enter Type F. I entered it directly in Schedule D on the correct line. Error review said I needed a Form 8949. I found a way to generate it using Zoom. It correctly populated Type A and Type D. It did not populate Type F and efile error states I need to use the smart worksheet for Type F to populate Form 8949 which must match schedule D for which I cannot find to do.
April 14, 2025
1:20 PM
April 14, 2025
1:20 PM
Topics: