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Yes, Coinbase Earn rewards are considered taxable income by many tax authorities, including the IRS in the U.S. Even though your spouse hasn’t sold the crypto yet, the value of the tokens received at... See more...
Yes, Coinbase Earn rewards are considered taxable income by many tax authorities, including the IRS in the U.S. Even though your spouse hasn’t sold the crypto yet, the value of the tokens received at the time they were earned is typically treated as ordinary income and should be reported as such on your tax return. The key point is: earning crypto—even if it's through educational activities—is treated like receiving payment in crypto. So it should be declared for the year it was received, based on the fair market value at that time. Later on, if your spouse sells the crypto, there may also be capital gains or losses, depending on the price change since the time it was earned. It's always a good idea to consult a tax advisor, especially since crypto tax rules can vary by country and get updated frequently.
Can someone answer in detail how TurboTax handles an individual filing where the income is uneven through the months/quarters, and I want to use the Annual Installment Income method to calculate my t... See more...
Can someone answer in detail how TurboTax handles an individual filing where the income is uneven through the months/quarters, and I want to use the Annual Installment Income method to calculate my taxes/penalties? (assuming I have made some estimated payments during the tax year). Which part of the interview addresses this? Does the interview walk you through it? or does it simply "throw you in the pond" and point you to a form soup?   This will determine whether I even buy the software next year (you got me this year, and I'm not on the annual installment this year).    Thanks
Follow up: JotikaT2, Tax issue if loan is "charged off" by SBA that was funded during Covid-19 under provisions of the CARES Act? Not forgiven but also not repaid. What are these tax concerns and I... See more...
Follow up: JotikaT2, Tax issue if loan is "charged off" by SBA that was funded during Covid-19 under provisions of the CARES Act? Not forgiven but also not repaid. What are these tax concerns and IRS issues? Mudtech61 
Duplicate.   See the answer here: https://ttlc.intuit.com/community/after-you-file/discussion/still-have-not-received-refund-and-my-information-is-non-existent/01/3690881#M801199
@etpuckett2  wrote:  "Still have not received refund and my information is non-existent"   By saying "my information is non-existent" are you referring to the IRS "Where's My Refund" tool, and It's... See more...
@etpuckett2  wrote:  "Still have not received refund and my information is non-existent"   By saying "my information is non-existent" are you referring to the IRS "Where's My Refund" tool, and It's not finding your return?    Or does it mean that you are using Online TurboTax, and when you log into your online TurboTax account, you can't find the return you prepared?    For this answer I'm going to assume that  you mean the IRS tool can't find your information.   If you are using Online TurboTax, and if you can't find your prepared return in your Online account, you'll have to report back.   As for not receiving your refund, first, you need to be sure the return was successfully filed. It depends on how you chose to file the return.   If you filed a paper return by mail, TurboTax does not mail it for you.  If you chose that method, you would have had to print it, sign it, date it, and mail it yourself.  It takes at least 4 weeks for a mailed return to show up in the IRS WMR tool.     If you efiled, double-check to be sure the return was efiled successfully and accepted.  If you used Online TurboTax, you can sign into your Online Account and check the efile status at the Tax Home.   What word is used there for the status:  accepted, rejected, printed, started, ready to mail, or something else? If that showed it was accepted, (or if you mailed a paper return), you can use the "Where's My Refund" tool at the IRS website below to monitor the status of your Federal refund.   Is there any message there? https://www.irs.gov/wheres-my-refund   If that IRS tool says it's not finding your information, here are some tips:   Be sure you enter the correct tax year, SSN, and filing status. Be sure you are using only the Federal refund amount.   Do not include any state refund or any total refund or net refund (Fed and State) that TurboTax may have provided on a summary screen.   Look at your actual Federal return to get the Federal refund amount to use in the tool, i.e., your Form 1040, Line 35a.
JotikaT2, Thanks for responding.  OK, if I am understanding you, if the LLC received a EIDL understanding the CARES Act provisions during the Covid-19 emergency and these funds were used to pay allo... See more...
JotikaT2, Thanks for responding.  OK, if I am understanding you, if the LLC received a EIDL understanding the CARES Act provisions during the Covid-19 emergency and these funds were used to pay allowed expenses (as determined by a CPA firm specializing in EIDL issues) there are NO tax issues? No tax on this money if there is a default as unearned income as the loan was defaulted and the loan proceeds were not repaid to the SBA? Thanks. Mudtech61 
Under my intuit account overview I see this product I cannot remove. (my full name) TO_BIZ TTL_BIZ 2024
What is displayed at the IRS "Where's My Refund" tool?  Is there any message there? https://www.irs.gov/wheres-my-refund
If you filed a return showing that you owed $5000, you owe the $5000.   If you believe the return you filed was incorrect, you fix that by filing an amended return.   On the amended return you in... See more...
If you filed a return showing that you owed $5000, you owe the $5000.   If you believe the return you filed was incorrect, you fix that by filing an amended return.   On the amended return you indicate that the W-2 is for difficulty of care payments.  Here are some articles on how to do that. https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-w-2/qualified-medicaid-waiver-payments-w-2-show-earned/L1XZa89dh_US_en_US   https://ttlc.intuit.com/community/taxes/discussion/difficulty-of-care-payments/00/3126610   The amended return will calculate your new tax amount.  If the new tax amount is less than the amount you already paid (considering withholding and all other payments) you will be claiming a refund when you file the amended return.   Here are instructions on how to file an amended return. https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-federal-tax-return-current-year/L7eS6o1qh_US_en_US    
Submitted 01/30/25 Step 2, completed Accepted Step 3, incomplete IRS Refund est. 02/20/25
Is it possible to issue a family member a secured loan with deferred interest payable when the house is sold?  Or because there wasn’t any payments being received would it be looked at as a gift?  If... See more...
Is it possible to issue a family member a secured loan with deferred interest payable when the house is sold?  Or because there wasn’t any payments being received would it be looked at as a gift?  If it is possible, how would it be recorded for taxes?
Ideally you should go back to who did it and they should amend it for free if it was their error.   To amend a return you did somewhere else or you don't have the original.tax file,  you would fir... See more...
Ideally you should go back to who did it and they should amend it for free if it was their error.   To amend a return you did somewhere else or you don't have the original.tax file,  you would first have to fill out Turbo Tax like you are doing the original return and pay for it.  You have to recreate the actual wrong original return.  Then when it matches each line that you really filed you have to tell Turbo Tax you will mail it so it thinks it was filed.  Then you can amend it.   For the current year you can use the online version by first recreating the original return exactly as filed.  Then pay the fees and say to mail it and print it out so it think you filed it.  Then when it matches every line you can amend.   How to Amend this year https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-federal-tax-return-current-year/L7eS6o1qh_US_en_     Or you can buy the Desktop CD/Download program here, https://turbotax.intuit.com/personal-taxes/cd-download/   To amend a prior year return you have to buy the Desktop program here.  They only sell the last 3 years. TurboTax 2021 Prior Year Tax Prep - File Past Years' Taxes   You will have to print and mail the amended return.  You can only efile it from the same account the original was Accepted.
more correctly, gambling losses are only deductible to the extent of gambling winnings. the deduction is on schedule A. the fact that your medical expense deduction will be eliminated should be of no... See more...
more correctly, gambling losses are only deductible to the extent of gambling winnings. the deduction is on schedule A. the fact that your medical expense deduction will be eliminated should be of no federal consequence if your taxable income without this deduction is already zero. or a loss. however, if you have a state income tax this might have an effect.   failure to properly report your gambling winnings can result in civil and/or criminal penalties In extreme cases, not reporting winnings can lead to criminal tax fraud charges—up to 5 years in prison and a $250,000 fine. The IRS has already convicted dozens for this. and of course, Social Security would seek to recover those underpaid premiums, probably by taking it out of your social security benefits to the maximum each period allowed by law.     
the 2019 app - online and desktop are no longer supported so you may not be able to open the xxxx.tax2019 file.   these are your options: 1) to print or view a pdf copy if you save one 2) get a c... See more...
the 2019 app - online and desktop are no longer supported so you may not be able to open the xxxx.tax2019 file.   these are your options: 1) to print or view a pdf copy if you save one 2) get a copy online or through mail of return or transcript from the IRS https://www.irs.gov/individuals/get-transcript  3) there is a third party TaxPrinter, not affiliated with Turbotax, that may be able to print out a copy if you e-mail them the tax file. see their webpage and red the disclosures and FAQs https://www.taxprinter.com/        as an aside always save a pdf copy of your return. Turbotax only supports the current and 3 prior years. The IRS and Turbotax  only reatin return or tax file for seven years.
No one has access to your tax return; we cannot see it.   The tax due on your return is calculated based on the information entered by the user, so it is unclear how TurboTax made you pay an amount t... See more...
No one has access to your tax return; we cannot see it.   The tax due on your return is calculated based on the information entered by the user, so it is unclear how TurboTax made you pay an amount that you were not supposed to pay.   Information flows from the federal return to the state return.  Did something get entered twice?  What happened?   Did you pay the tax due?   Without any personal information, provide some details.   Maybe you need to amend your state return if a mistake was made.
I also would hate to see Windows 10 not be supported.  It is a total pain to move to a new machine, and definitely not worth it just to have the privilege of using Turbotax.  More than 50% of the Win... See more...
I also would hate to see Windows 10 not be supported.  It is a total pain to move to a new machine, and definitely not worth it just to have the privilege of using Turbotax.  More than 50% of the Windows install base is still on Windows 10, so Intuit will have to relent on this proposal if everyone refuses to cave to their demands.