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See below. However, I did catch something on a second read of your initial response: "...all four...". The Estimated payment vouchers for 2025 are correct. However, the 1040-V Payment Voucher for Ind... See more...
See below. However, I did catch something on a second read of your initial response: "...all four...". The Estimated payment vouchers for 2025 are correct. However, the 1040-V Payment Voucher for Individuals for the amended is only a single payment voucher. This amended payment voucher is the one which has an issue.  
The “summary” given to you by TurboTax must have confused you.  That summary just nets out the difference between a refund you are getting and an amount you owe.   Or it adds two refunds or tax “due”... See more...
The “summary” given to you by TurboTax must have confused you.  That summary just nets out the difference between a refund you are getting and an amount you owe.   Or it adds two refunds or tax “due” amounts together.     The federal and state treasuries are completely separate from each other.     Your state tax due cannot be paid from a federal refund.   And….your federal tax due cannot be paid from a state refund.     Neither refund can be used to pay the amount due to the other one.   If you owe tax due, you have to pay it yourself by the filing deadline on April 15, 2025.      If you have federal tax due you can pay by mailing your payment with the 1040V voucher, (which has the address printed on it, having the payment taken out of a designated bank account, or you can pay directly on the IRS website.    https://www.irs.gov/payments     https://ttlc.intuit.com/community/tax-payments/help/how-can-i-pay-my-federal-taxes/00/26212     https://ttlc.intuit.com/community/tax-payments/help/how-do-i-pay-my-irs-tax-due-with-a-check-or-money-order/00/26403      To apply for a payment plan with the IRS   Apply Online for a Payment Plan     You must pay your state tax due using the state’s preferred method of receiving payment.  For most states that will be by making a payment to the state’s own tax website, or by mailing a check or money order.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0   WHAT IF I CANNOT PAY MY TAX DUE? https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-payments/pay-taxes/L8aQBCpPO_US_en_US?uid=m9iryksw
Si se puede arreglar tu declaración si ya la presentaste.  Vas a tener que esperar a que sea aceptada y procesada por el IRS y el estado o estados, para hacer una enmienda.  Eso quiere decir que tien... See more...
Si se puede arreglar tu declaración si ya la presentaste.  Vas a tener que esperar a que sea aceptada y procesada por el IRS y el estado o estados, para hacer una enmienda.  Eso quiere decir que tiene que esperar a que sus reembolsos lleguen antes de hacer cambios.   Como ya fue procesada tu declaración, vas a tener que preparar una enmienda para agregar la Forma 1099-MISC que te acaba de llegar.  Sigue los siguientes pasos para enmendar tu declaración:   Abre tu declaración y ve a la Página de inicio Ve a Tus declaraciones de impuestos y documentos Elige el año que necesitas enmendar Selecciona Enmendar (modificar) declaración Ve a Enmendar usando TurboTax Online Para más información visita los siguientes artículos de ayuda de TurboTax:   ¿Qué significa "enmendar" una declaración? ¿Cómo enmiendo mi declaración de impuestos federales de un año anterior?
@arjordan99  A 60-day rollover is never shown on the 1099-R. After you enter the 1099-R in TurboTax, proceed through the subsequent questions. It will ask you what you did with the money. If you an... See more...
@arjordan99  A 60-day rollover is never shown on the 1099-R. After you enter the 1099-R in TurboTax, proceed through the subsequent questions. It will ask you what you did with the money. If you answer that you returned some or all of the money to the same retirement account, you will be able to either indicate that you rolled over the entire distribution, or enter the amount that you rolled over.  
Greetings, As the title says, I used Fedex overnight to deliver federal tax return and form 3520 in the same package to the following address: Ogden - Internal Revenue Submission Processing Center ... See more...
Greetings, As the title says, I used Fedex overnight to deliver federal tax return and form 3520 in the same package to the following address: Ogden - Internal Revenue Submission Processing Center 1973 Rulon White Blvd. Ogden, UT 84201 (This is the private delivery service address for Ogden IRS, different from the PO box address used by USPS)   I used Fedex and the address above, because IRS website says tax return could be delivered using private delivery service to the above address. I was under the impression that 3520 was part of the tax return, but now just learnt it is not. It is considered an information return. The IRS website says tax return can be sent though FedEx to the processing center, but does not mention if  information return can be sent through FedEx. The form 3520 instruction says: Send to: Internal Revenue Service Center P.O. Box 409101 Ogden, UT 84409   I am now not sure if IRS will process my form 3520 with the way it was sent. My question is: Does IRS check and keep a record of every form sent to processing center? Is it ok to send 3520 and tax return in the same package? Will a form 3520 sent through Fedex to the processing center address be processed? Am I screwed?
Where does the 40,000 show up on your tax return?  Did you get a schedule C for it?   Schedule C would be wrong and give you self employment tax.  Check 1040 and see if you have Other Taxes on line 2... See more...
Where does the 40,000 show up on your tax return?  Did you get a schedule C for it?   Schedule C would be wrong and give you self employment tax.  Check 1040 and see if you have Other Taxes on line 23 like around $5,650.    
You can review the IRS website Where to file paper tax returns with or without a payment? For mailing addresses. Include your W-2s and any 1099s that have tax withheld. Refer to the IRS Tax Tip HOW T... See more...
You can review the IRS website Where to file paper tax returns with or without a payment? For mailing addresses. Include your W-2s and any 1099s that have tax withheld. Refer to the IRS Tax Tip HOW TO PREPARE YOUR TAX RETURN FOR MAILING for additional information.   To find out the address to mail your state return you need to check your State Department of Revenue website to get the address . Refer to the TurboTax Help article How do I contact my state's Department of Revenue?  and select your state.  
BACKGROUND: Live in KS with small business profits from Kansas City, MO. Completed and e-filed ALL 2024 taxes via TurboTax (federal, KS, MO, KCMO RD-108 Profits). KCMO RD-108 Profits rejected due to ... See more...
BACKGROUND: Live in KS with small business profits from Kansas City, MO. Completed and e-filed ALL 2024 taxes via TurboTax (federal, KS, MO, KCMO RD-108 Profits). KCMO RD-108 Profits rejected due to blank field (hard zero required) but NO INFO in TurboTax on how to refile. Gave up and filed KCMO RD-108 2024 through my online account with kcmo.gov/quicktax. POSITIVE STATUS: ALL authorities (federal, KS, MO, KCMO via QuickTax) show taxes accepted and paid in full as confirmed by timely ACH withdrawals in correct amounts from bank account. BUT: TurboTax keeps sending me E-file Rejection Reminders. QUESTION: Can I just ignore these "reminders"? Frustrated by lack of info/instructions on how to resubmit KCMO RD-108 Profits return following correction of form error!
Legal settlements are often taxed. It depends on the type of settlement and would have been mentioned in your settlement agreement. Generally, physical injury settlements aren't taxable unless you de... See more...
Legal settlements are often taxed. It depends on the type of settlement and would have been mentioned in your settlement agreement. Generally, physical injury settlements aren't taxable unless you deducted medical expenses from the injury on a previous tax return. Non-injury settlements are considered other taxable income. You should receive a Form 1099 if your settlement is taxable. You will be taxed on the income based on the tax bracket that you fall in and the federal income tax rates.    Please see the TurboTax article Are legal settlements taxable? for more information.   If you find that you have a balance due, there are several options when you have a tax bill that you don't have the money to pay.  Refer to the following articles: How to Pay Taxes: 10 Ways to Pay Your Tax Bill, Unable to Pay Your Tax Bill? Here’s What To Do, and the IRS article What if I can’t pay my taxes?  
Your grandfather would not have paid any gift tax when he gifted half ownership of the home to you, unless the total of all gifts that he made in his lifetime was more than $11 million. Unless you th... See more...
Your grandfather would not have paid any gift tax when he gifted half ownership of the home to you, unless the total of all gifts that he made in his lifetime was more than $11 million. Unless you think he was in a position to make such large gifts we'll assume he did not pay any gift tax. Since you never lived in the home, you are not eligible for the Section 121 exclusion of gain. That's the $250,000 or $500,000 that SharonD007 was talking about. I neglected to ask what state your grandparents lived in. I'll assume it is not a community property state. If it is a community property state, the discussion of your grandfather's basis below has to be modified. Your taxable capital gain on the sale is the amount you sell the home for, minus your basis. Here's where it gets complicated. You received half of the home as a gift in 2019, and you inherited the other half in 2025. Your basis for the inherited half is relatively easy to determine. It's half of the fair market value of the home on the date that your grandfather died (not the date that he put you on the deed). If you sell it within a short time after he passed, you could probably assume that the value didn't change between his passing and the sale, so your basis for the inherited half would be half of the selling price. It's the other half that's complicated. Since it was a gift, your basis is half of what your grandfather's basis was. But his basis has two halves. His basis for his original half of the home is what he paid for it, which would be $10,000, plus half the cost of any improvements that he and your grandmother made before she passed, and the full cost of any improvements that he made after she passed. When your grandmother passed, your grandfather got "stepped up basis" on her half the home. That means that his basis on her half was half of the fair market value on the date that your grandmother died. Your entire capital gain will be long-term, even though you only owned your grandfather's half of the home for a few months. Capital gain from the sale of inherited property is always treated as long-term, no matter how long you actually owned it. You might want to consult a tax professional for help figuring all of this out.  
Assuming that you mean an extension. The extension gives you until October 15, 2025 to file your taxes without getting a failure to file penalty.  You don't get extra time to pay your taxes so you mu... See more...
Assuming that you mean an extension. The extension gives you until October 15, 2025 to file your taxes without getting a failure to file penalty.  You don't get extra time to pay your taxes so you must pay any taxes that you may have that are due by April 15, 2025 so you won't be assessed the failure to pay penalty.   Refer to the TurboTax Help article How do I file an IRS tax extension?.  If you need to file a state extension, review the article How do I file an extension for my personal state taxes?    
The withholding that you entered from box 4 on your 1099-R from will show up on your tax return, Form 1040, line 25b.   Where do I enter a 1099-R?
I assume you got a 1099R with the withholding in box 4?  That will show up on 1040 line 25b.     You didn't actually pay the tax. You had taxes withheld like from your paycheck. You still have to e... See more...
I assume you got a 1099R with the withholding in box 4?  That will show up on 1040 line 25b.     You didn't actually pay the tax. You had taxes withheld like from your paycheck. You still have to enter the whole gross amount (before taxes were withheld) with your other income to figure out the total tax (and it may put you into a higher tax bracket and can reduce any credits) and then the withholding is subtracted from the total tax to figure your refund or tax due. The Gross amount shows up on 1040 line 4a or 5a and the taxable amount on 4b/5b. The withholding will show up on 1040 line 25b.
You should contact your state's Dept of Revenue.   It could be related to an offset of taxes or other government debt.  See our article on Offsets.   If you have past-due taxes or a balance from ... See more...
You should contact your state's Dept of Revenue.   It could be related to an offset of taxes or other government debt.  See our article on Offsets.   If you have past-due taxes or a balance from another government agency but you’re eligible to receive a refund this tax season, the IRS — or state tax agencies — may apply that refund to your past-due balance.   Here are the most common examples:    Past due child support Federal agency non-tax debts State income tax debt Certain unemployment compensation debts owed to a state   More info about refund offsets, including contact info and the appeals process, is available in IRS Tax Topic 203.
Once again, where are the taxes that have paid already the government, where is the entry on the turbo tax forms?
I get conflicting information on the internet regarding what forms need to be sent with a paper amended return for both Federal and State (New Jersey).  Some places it says to include only the forms ... See more...
I get conflicting information on the internet regarding what forms need to be sent with a paper amended return for both Federal and State (New Jersey).  Some places it says to include only the forms (w-2, 1099, etc) that have changed while other places say to include all such forms regardless of whether they changed.  It appears that perhaps paper return versus electronically filed return causes the difference.  What is the truth about the forms to be sent  for a paper return both Federal and New Jersey.
so you did not file 3115?
  If you haven't e-filed your tax return, you can request a payment plan with the IRS when you e-file.  Follow the steps below: Launch TurboTax Select the File section Select Continue by... See more...
  If you haven't e-filed your tax return, you can request a payment plan with the IRS when you e-file.  Follow the steps below: Launch TurboTax Select the File section Select Continue by Step 2 Your tax payment info Select See all payment options Select Request an IRS payment plan on the next screen         6. Answer the questions to request a payment plan that will be attached to your tax return.     For additional information, refer to the TurboTax Help article Can I set up a payment plan for my taxes?     If you already filed, or you can't find this option in TurboTax, you can apply for a payment plan (Form 9465) at the IRS Payment Plans and Installment Agreements website.   For additional information, refer to the TurboTax Help article Can I set up a payment plan for my taxes?
Once you finish depreciating the rental property, there's no more depreciation deduction left to take.  The exception is, if you made any capital improvements, those are usually depreciated as a sepa... See more...
Once you finish depreciating the rental property, there's no more depreciation deduction left to take.  The exception is, if you made any capital improvements, those are usually depreciated as a separate asset.  TurboTax will automatically figure this out for you.     What is depreciation?   @wmad1975 
Oh  you turned 73?  Do  you have an IRA or 401K account?  You have to start taking the RMD Required Minimum Distribution on retirement accounts.   It will even start asking you if you took a RMD from... See more...
Oh  you turned 73?  Do  you have an IRA or 401K account?  You have to start taking the RMD Required Minimum Distribution on retirement accounts.   It will even start asking you if you took a RMD from a pension now.   There were some bugs in the RMD questions earlier and people were getting wrongly hit with a penalty for not taking the RMD.   So that's one thing you need to check.  See if you have a Schedule 2 line 8 for additional tax from form 5329.  Schedule 2 goes to 1040 line 23.   You got the underpayment penalty for owing too much on your tax return.   Not for owing the IRS for any prior taxes or for not paying estimates.  Although you might need to start paying estimates so you don't owe so much next  year.  Or you  need to start having withholding taken out of your IRA and any RMDs and pension if you get a pension.