All Posts

Raph · ‎April 25, 2025

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...

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!***

Vanessa A · ‎April 25, 2025

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...

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.

CatinaT1 · ‎April 25, 2025

Follow the instructions here to connect with a tax expert. How do I connect with a tax expert in TurboTax Live?

popomama1 · ‎April 25, 2025

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...

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.

RobertB4444 · ‎April 25, 2025

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 ...

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

CatinaT1 · ‎April 25, 2025

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...

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?

raviraju88 · ‎April 25, 2025

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...

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

RobertB4444 · ‎April 25, 2025

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...

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

CatinaT1 · ‎April 25, 2025

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...

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

waltersingingr · ‎April 25, 2025

I paid for live tax help - where is it

popomama1 · ‎April 25, 2025

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...

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.

Mike9241 · ‎April 25, 2025

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...

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.

MS461 · ‎April 25, 2025

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?

RobertB4444 · ‎April 25, 2025

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

RobertB4444 · ‎April 25, 2025

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

Vanessa A · ‎April 25, 2025

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...

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.

frankfei · ‎April 25, 2025

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 ...

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!

RobertB4444 · ‎April 25, 2025

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...

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

beetsfam5 · ‎April 25, 2025

It was claimed as investment for the last few years but was originally the primary residence.

Opus 17 · ‎April 25, 2025

@vor17tex wrote: Thanks for your reply, Robert. I didnt mention that I am no longer employed. So specifically since this money is from only my contributions , not earnings, can I roll it back...

@vor17tex wrote: Thanks for your reply, Robert. I didnt mention that I am no longer employed. So specifically since this money is from only my contributions , not earnings, can I roll it back to the Roth from which I distributed it on 2/26/25. (The 60 day period ends on 4/26/25) Any IRA withdrawal always has a 60 day rule for rollovers (to put the money in another qualifying IRA or return it to the same IRA). If you made a qualified withdrawal from a Roth IRA and you don't return it within 60 days, it is not taxable income if you keep the money. But your opportunity to put it back into an IRA for future tax-free growth is limited to the 60 day rollover rule. However, since today is 4/25/25 and it's a Friday, it is possible that the original IRA won't be able to process the deposit in time. It might be better, as @fanfare suggested, to hand-carry the funds to a local bank and open a new Roth IRA today in person. Even if the transaction does not official clear until next week, the fact that you opened the account and gave them the money in person before the 60 days were up should cover you. Or, call the original IRA and talk to their customer support people to verify that they will record the deposit on time. If you have missed the window, and you keep the money, you can invest it normally, and just pay tax on the interest, dividends and capital gains, per the usual rules for investment accounts. You just lose the option for tax-free gains in the Roth IRA.

Expert does your taxes

Do it yourself

Resources

Support

All Posts

Itemized Deductions - Schedule A | Ask the Experts

Re: Is there fee to e-file 1040X ?

Re: No one helping with amendment

Re: Is there fee to e-file 1040X ?

Re: 8824 part IV stock sales

Re: Are my write-offs counted as a sole proprietor? I'ma freelance writer and I ahd $10K in expen...

No one helping with amendment

Re: Amended 2023 Federal Tax Return has been rejected

Re: Is there fee to e-file 1040X ?

Are my write-offs counted as a sole proprietor? I'ma freelance writer and I ahd $10K in expenses/write offs last year. SInce it was below the $30K?

Is there fee to e-file 1040X ?

Re: Sold common Stock S Corp How to figure cost basis

Re: Virginia Form 760 Driver's License Information

Re: The foreign Tax Credit (Form 1116) Worksheet for AMT is not being populated

Re: Reporting capital gain on land sale overseas in Federal and California returns

Re: If I sell my home that I lived in for 24 months out of the last 5 years but it was rented the...

US-China Treaty for H1B

Re: 199A Mess with Turbotax

If I sell my home that I lived in for 24 months out of the last 5 years but it was rented the rest of the time am I excluded from cap gains?

Re: i am over 60 yrs. i distibuted form my Roth Ira and would like to do a rollover to it. if the account is qualified, does the 60 day rule even apply?

Do you have a TurboTax Online account?

All Posts