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My printout states 12.02% Effective Rate: clearly the effective rate displayed is incorrect it had me pay 15% So what do you trust? Did I overpay???      
Thank you for coming to Ask the Experts Day – the event has now concluded View the library of questions and answers from the Itemized Deductions event     On behalf of the Experts participating... See more...
Thank you for coming to Ask the Experts Day – the event has now concluded View the library of questions and answers from the Itemized Deductions event     On behalf of the Experts participating, I would like to thank you for joining us.  We hope you will return to the forums to share your experiences, both good and bad.   We will be hosting more Ask the Experts events in the months to come.  We hope to see you then!   If you still have questions to ask, feel free to post them on the Community – we always have experts on the Community ready to help you out.   -------------------------------------   Join us on Wednesday, June 11th any time between 9:00 am and 5:00 pm Pacific Time for our latest installment of our Ask the Experts event series. Bring all your questions about personal deductions and we’ll give you the answers you need to maximize your refund.      Come spend a minute, an hour, or the whole day in the TurboTax Community forums. We'll have Tax and Financial Experts live - waiting to give you tax or personal finance advice for free! There’s no limit on how many questions you can ask—we’re up for the challenge and ready to answer things like:   What is SALT & how does it affect my taxes? I donated a car, what do I need to do? What types of taxes and interest can I deduct? How do I claim my gambling losses? How do I know if my charitable contribution qualifies? Is it worth it to claim medical expenses?   How The Day will work:   On June 11th, we will post a link on this page to access the Special Event Forum. Tax and finance experts will be online and ready to tackle your tough questions and engage in real-time conversation with you. Just sign in to the TurboTax Community, and select the teal Ask a Question button at the top of our special event forum to start a conversation! If it is after 9 am Pacific Time on June 11th, and you don't see the event link yet, just refresh this page and it will appear.    Already RSVP’d?   In the meantime, check out our refund calculator by clicking here and signing in to calculate your tax outcome in just a few minutes or less.   Millions of customers come to the TurboTax Community every month—we hope that you’ll join us for this special event on June 11th.     ***Stay tuned for future events on the TurboTax Community!***
Correct.  You should be able to e-file your amended returns for free.  There are some people, due to the changes that end up needing to print and mail their returns, but in general you should be able... See more...
Correct.  You should be able to e-file your amended returns for free.  There are some people, due to the changes that end up needing to print and mail their returns, but in general you should be able to e-file. 
Follow the instructions here to connect with a tax expert. How do I connect with a tax expert in TurboTax Live?  
Thanks CatinaT.   I filed my original return via TT 2024 Premier Desktop version several weeks ago . Both IRS and CA have processed my original return successfully.  So you meant I can now e-file b... See more...
Thanks CatinaT.   I filed my original return via TT 2024 Premier Desktop version several weeks ago . Both IRS and CA have processed my original return successfully.  So you meant I can now e-file both Federal and CA amended return via my TT 2024 Premier Desktop version for free, right? Thanks again.
Did you purchase a replacement for the shares you had to sell?  If you didn't then the gain is taxable.  If you did then you enter the value of the replacement stock that you purchased and that will ... See more...
Did you purchase a replacement for the shares you had to sell?  If you didn't then the gain is taxable.  If you did then you enter the value of the replacement stock that you purchased and that will be deducted from your gain.  You had 60 days from the date of the sale to purchase replacement property.  If you didn't do so then the program is making the correct choice by entering the taxable amount on schedule D.   @templeone05 
When you operate a business, you file a Schedule C to report your income and expenses. You pay self-employment tax and income tax, the amounts are calculated as part of your return.   I'm not qui... See more...
When you operate a business, you file a Schedule C to report your income and expenses. You pay self-employment tax and income tax, the amounts are calculated as part of your return.   I'm not quite sure what your question is exactly. Can you clarify?
I had opted for full service and after my taxes were filed, I found some issues.  My RSU ownership was not declared in form 8938 and I tried to reach back for help with amendment. When I purchase ful... See more...
I had opted for full service and after my taxes were filed, I found some issues.  My RSU ownership was not declared in form 8938 and I tried to reach back for help with amendment. When I purchase full service, Turbotax bragged about how awesome they are with  helping amendment, audit etc. Now, here we are! First I was assigned a person who stopped responding, then a new person who only work for few hours on week day and cannot talk to me on phone. I tried to call the customer service and spoke with someone and explained my issue, they just dropped my call. Not sure why the service has gotten so terrible. Looks like I need to find someone outside Turbotax to work with moving forward
1.  You need to include any form where the numbers changed.  That will include the 1040 and the schedule A (if you have one).  Check the forms against your original return to be sure.   2.  You w... See more...
1.  You need to include any form where the numbers changed.  That will include the 1040 and the schedule A (if you have one).  Check the forms against your original return to be sure.   2.  You will need to amend 2024.  Then you can correct the issue and ignore it on the 2025 return.   3. You don't need to worry about earnings.   @yzhang1121 
You should be able to file an amended return for free if you filed with a paid version of TurboTax.   If you want to make changes or add a document to a tax return that has already been filed and... See more...
You should be able to file an amended return for free if you filed with a paid version of TurboTax.   If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines.    You must first wait until the initial return is completely processed. You will have to use the same TurboTax account that you used for the original tax return. Once you begin your amendment, you'll see your original return. The refund calculator will start new at $0 and only reflect the changes in the refund or tax due Only make changes to the areas of your return that need to be corrected. You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment Select your product below and follow the instructions.  Amend TurboTax Online  Amend TurboTax CD/Download 
I have TurboTax 2024 premier desktop edition. I may need to file amendment return for the current year(2024)? Questions are: (1) Can I e-file both federal and CA amended return via TurboxTax premier... See more...
I have TurboTax 2024 premier desktop edition. I may need to file amendment return for the current year(2024)? Questions are: (1) Can I e-file both federal and CA amended return via TurboxTax premier desktop? (2) Is this totally free ? If not, what is the fee TT charges me?   Thanks.
since no gain or loss was reported on the retraction(?), your basis is what you paid PLUS income reported on all the k-1s you got LESS losses, deductions and distributions on those same K-1s. However... See more...
since no gain or loss was reported on the retraction(?), your basis is what you paid PLUS income reported on all the k-1s you got LESS losses, deductions and distributions on those same K-1s. However, it's unclear what you mean by retraction. so, your basis in 2009 is probably not correct for determining gain or loss.   
That sounds like a good reason to provide that information; how do I get Turbotax to make it appear on my Form 760; or, you don't know?
It won't matter that the AMT form isn't generated unless you trigger the AMT.  But do you have a foreign tax credit for this year?   @cfbastian 
Your foreign taxes are a deduction on your federal return.  But, as the thread that you posted points out, California does not give you a deduction for the foreign taxes.   @mjls 
No, you are not excluded from the home sale exclusion because it was a rental.  If you lived in the home for 2 out of the last 5 years and have not claimed the home sale exclusion in the last 2 years... See more...
No, you are not excluded from the home sale exclusion because it was a rental.  If you lived in the home for 2 out of the last 5 years and have not claimed the home sale exclusion in the last 2 years for another home, then you would still be able to claim the home sale exclusion even though it was rented out the rest of the time.   You will need to add back the depreciation you claimed over the last few years as a depreciation recapture which will decrease your basis and increase your profit on the sale.    
Hi, I'm a researcher who's qualified for a 3-year US-CHINA treaty benefits. I first landed the states as a H1B researcher and received W2 from my employer. I claimed treaty for the first 2 years and ... See more...
Hi, I'm a researcher who's qualified for a 3-year US-CHINA treaty benefits. I first landed the states as a H1B researcher and received W2 from my employer. I claimed treaty for the first 2 years and the tax returns are approved by IRS.    The questions is, I am about to file I-485 the green card application in the coming few years, do I have to file a tax amendment to give back or return the benefits I enjoyed before?   thank you so much for in advance!
It shouldn't have created a K-1, but you do get a tiny little business credit for it.  Go ahead and leave the partnership name blank and enter limited partner and move on.   Just to check - you d... See more...
It shouldn't have created a K-1, but you do get a tiny little business credit for it.  Go ahead and leave the partnership name blank and enter limited partner and move on.   Just to check - you did enter the amount from box 5 of the 1099-DIV into the box 5 entry on the 1099-DIV form, correct?   [Edited 04/29/2025  08:21 AM]   @jAYMUT    @jAYMUT 
It was claimed as investment for the last few years but was originally the primary residence.