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April 15, 2025
8:45 AM
Remember that an extension does not give you more time to pay. You need to pay your tax due by April 15. The extension only gives you more time to prepare and file your tax return forms.
ht...
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Remember that an extension does not give you more time to pay. You need to pay your tax due by April 15. The extension only gives you more time to prepare and file your tax return forms.
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 15, 2025
8:45 AM
Tennessee is one of a handful of states with no personal income tax. Retirement savings and Social Security are also not taxed at the state level.
Where are you in the TurboTax software that it...
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Tennessee is one of a handful of states with no personal income tax. Retirement savings and Social Security are also not taxed at the state level.
Where are you in the TurboTax software that it is asking this question? Please clarify.
April 15, 2025
8:45 AM
It depends on what program you are using. See your options here: How do I file an IRS tax extension? - TurboTax Support - Intuit
This will extend the time you have to file your taxes until Octo...
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It depends on what program you are using. See your options here: How do I file an IRS tax extension? - TurboTax Support - Intuit
This will extend the time you have to file your taxes until October 15th, 2025.
Also, you may have to do your state taxes: Do I need to file an extension for my personal state taxes?
Remember, an extension gives you more time to prepare your taxes, but it doesn't extend the time to pay your taxes. If you have an indication that you will owe taxes, you should make the payment by the original due date of the tax return to avoid additional interest and penalties.
April 15, 2025
8:44 AM
Hoping someone else can pick up this thread. I also am a DOE employee and am exempt. I am in the same situation as the initial poster. There is now a NYC1127 form for me to print and file. I us...
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Hoping someone else can pick up this thread. I also am a DOE employee and am exempt. I am in the same situation as the initial poster. There is now a NYC1127 form for me to print and file. I used the TurboTax links to determine I was exempt. I can't recall the exact buttons I pushed as per the response, but if I knew I was exempt I wouldn't have said I needed to complete this form. I most likely hit continue or done or whatever the prompt is. Do I still have to file it?
April 15, 2025
8:44 AM
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.)....
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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.). 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!
April 15, 2025
8:44 AM
I need to add their business expenses How do I get back to that section to do that?
April 15, 2025
8:43 AM
Your Schedule K is created from your Business Return. You would need to amend your Business Return to correct your K-1.
April 15, 2025
8:43 AM
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...
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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).
April 15, 2025
8:43 AM
How do I change the MT. to MO
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April 15, 2025
8:43 AM
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...
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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
April 15, 2025
8:43 AM
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...
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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.
April 15, 2025
8:43 AM
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...
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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.
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April 15, 2025
8:42 AM
Should be steps to go through to extend
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April 15, 2025
8:42 AM
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 ...
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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.
April 15, 2025
8:42 AM
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...
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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 ?
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April 15, 2025
8:41 AM
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April 15, 2025
8:41 AM
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...
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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
April 15, 2025
8:41 AM
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...
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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.
April 15, 2025
8:41 AM
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.