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Hi!   My federal tax form keeps being rejected because of error: S2-F1040-394 ('FirstTimeHmByrRepaymentAmt' must not be greater than the First-Time Homebuyer Credit amount in the e-File database.).... See more...
Hi!   My federal tax form keeps being rejected because of error: S2-F1040-394 ('FirstTimeHmByrRepaymentAmt' must not be greater than the First-Time Homebuyer Credit amount in the e-File database.). My first time homebuyer credit is $7500 and I have paid off $7000 to date. The repayment amount is not higher than the credit received.  I checked the IRS site and can’t find my record.  Any assistance is appreciated!  
I need to add their business expenses How do I get back to that section to do that?
Your Schedule K is created from your Business Return. You would need to amend your Business Return to correct your K-1.
I have a defined benefit pension plan in Canada from when I lived there.  It is not yet being distributed to me.  But for 2024 I have reached the threshold that now requires me to report foreign acco... See more...
I have a defined benefit pension plan in Canada from when I lived there.  It is not yet being distributed to me.  But for 2024 I have reached the threshold that now requires me to report foreign accounts using 8938.  Since the work pension is not really owned be me (I have no control over it), do I even have to report that I have them on 8938?  If I do have to report them, do they go under Part V - Foreign Deposit and Custodial Accounts (where I specify either a value if known or zero if unknown), or in Part VI - Other Foreign Assets  section  (the section where you select a range for the value).  
You must be looking at older version of TT . TT 2024 premier has a differnt interview flow for 1116,  When I finish the INT and Dividends it does not let you enter a new category till you answer an A... See more...
You must be looking at older version of TT . TT 2024 premier has a differnt interview flow for 1116,  When I finish the INT and Dividends it does not let you enter a new category till you answer an AMT question. Then it does; i entered Canada as a country and it messed up the original foreign taxes paid RIC for dividends - it reduces those than before entering the RRSP income+tax paid for some reason.   BTW RRSP is an annuity and is passive income and so should be on the same 1116 form as INT and Dividends but I would have been okay to put it in the general category. . Perhaps the way to do is to go to manual mode (ie form and not step-by-step)   Also in the wages and income part of the interview it has a special section for RRSP from Canada. This part of the interview does not ask about foreign taxes paid to canada as it should. I also went to the form where this is filled out and it does have an option to add foreign tax paid.   There is another bug wrt to RRSP for California (it has been reported and discussed in the TT Community). This bug is there since 2021. Here the interview asked about RRSP and then that part of the interview does not every comeback for you to make corrections. Intuit has not considered worthwhile to fix this reported but increased the price of TT Premier,   Intuit has screwed up
The sale of your second home will be entered  in the Investments section of TurboTax and will be reported on Schedule D.  You can calculate the adjusted cost basis by adding capital improvements made... See more...
The sale of your second home will be entered  in the Investments section of TurboTax and will be reported on Schedule D.  You can calculate the adjusted cost basis by adding capital improvements made to the home plus the selling expenses to the basis.     Refer to the TurboTax article Cost Basis: Tracking Your Tax Basis and Where do I enter the sale of a second home, an inherited home, or land on my 2024 taxes? for more information.  
The 2024 NYS IT-201 Instructions require a separate schedule in my situation. The NYS info sheet in 2024 Turbotax include Part VIII, Additional Information for E-Filed Returns, includes fields captio... See more...
The 2024 NYS IT-201 Instructions require a separate schedule in my situation. The NYS info sheet in 2024 Turbotax include Part VIII, Additional Information for E-Filed Returns, includes fields captioned, "PDF's that you have selected to attach to your state efile return are listed below".  Yet the online advice I see says that PDFs cannot be attached to an efiled return but instead the return must be paper filed.  Questions - Can or cannot a PDF be attached to an efiled NYS return?   If not, why does Part VIII clearly state that it may be?  Thanks.
Should be steps to go through to extend
The answer given is useless.  It just parrots back what is needed, which are the 3 numbers on your K1 under Code V Statement.  What you need to do in Turbo tax is double click the singe box provided ... See more...
The answer given is useless.  It just parrots back what is needed, which are the 3 numbers on your K1 under Code V Statement.  What you need to do in Turbo tax is double click the singe box provided to open the worksheet and enter the 3 numbers with their descriptions there. 
Paying for Audit Defense and Paying for State File Fee using credit card same thing happened each time. A receipt with transaction number was posted, then a screen saying credit card failed, then a C... See more...
Paying for Audit Defense and Paying for State File Fee using credit card same thing happened each time. A receipt with transaction number was posted, then a screen saying credit card failed, then a Continue to try again, which leads to a screen saying your access restored, reload your state. Very disconcerting and confusing. Cannot tell it payment worked, cannot understand what it means to have access restored and bothered that all the work might have been lost. How can I be sure my purchases were made correctly ? How do I know my work is not lost ?
No, not 1040-V. That is payment voucher if you are mailing.  You'll need to find the worksheet I mentioned previously, section V to see the payment details you set up automatically. But today is t... See more...
No, not 1040-V. That is payment voucher if you are mailing.  You'll need to find the worksheet I mentioned previously, section V to see the payment details you set up automatically. But today is the day, so if you selected to draft then it will happen on time. @Jbdunn77 
Same thing happened to me last night after years of successfully using Turbotax. TT said fix the error and resubmit. However it was because of missing IPPIN number which I never heard of. Looked at I... See more...
Same thing happened to me last night after years of successfully using Turbotax. TT said fix the error and resubmit. However it was because of missing IPPIN number which I never heard of. Looked at IRS online and said could take up to 21 days to get the info. There are two options: one is to send a paper return and supporting documents or file for an extension. I'm filing for an extension but I will do that by printing and sending the paper Form 4868 for an extension. I don't trust filing it online as it might be rejected too and today is the 15th.
There is nowhere to put this on your return, it was probably an informational entry so it doesn't carry over to next year and you are able to use up all available net losses.
if you have to go the form 8453 route, that form asks you to attach Form 8949 or "statement with the same information" so it depends what's on your 1099B if that has the information that would be on ... See more...
if you have to go the form 8453 route, that form asks you to attach Form 8949 or "statement with the same information" so it depends what's on your 1099B if that has the information that would be on Form 8949 but you are unable to send it electronically.
Thank you, but I am not working in TT Software.  I am using TT online.  From what I have read a few times in community TT online does not allow you to view Forms.     I was able to leave State and ... See more...
Thank you, but I am not working in TT Software.  I am using TT online.  From what I have read a few times in community TT online does not allow you to view Forms.     I was able to leave State and Zip blank when initially entering the foreign address for the student and clicking the foreign address box, but in the review it is flagging it as an error and something has to be entered.  After hours of trying to find how to do this, I entered our (the parents) state and zip next to the foreign address on the worksheet that is requiring a state and zip.   I have found this to be the only way around allowing my taxes to have a successful review, by just putting in a state and zip, even though not correct, and makes absolutely no sense when you have checked the foreign address box.    If TT has any other solutions I would love to hear them.    
We do not know your tax situation.     TurboTax may believe that you would benefit from enrolling in the EFTPS.  You are not required to enroll in the system.   The Electronic Federal Tax Pay... See more...
We do not know your tax situation.     TurboTax may believe that you would benefit from enrolling in the EFTPS.  You are not required to enroll in the system.   The Electronic Federal Tax Payment System® (EFTPS) tax payment service is provided free by the U.S. Department of the Treasury.    After you have enrolled and received your credentials, you can pay any tax due to the Internal Revenue Service (IRS) using this system.
I need some guidance on how to make the entries in Turbo Tax, so that the RMD is shown as income in 2024 and form 5329 is completed.