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I own a house with my family (my portion is 25%) that we lease annually at $2000/month.  This year I leased it for the year and am paying the $2000 to the joint family account and I am short-term ren... See more...
I own a house with my family (my portion is 25%) that we lease annually at $2000/month.  This year I leased it for the year and am paying the $2000 to the joint family account and I am short-term renting it on Airbnb.  So assuming I make income above the $2000 a month I am paying - how do I account for this?  Historically I took  25% of the depreciation/mortgage interest deductions on Schedule E.  Do I still take these?  Do I subtract the $2000 rent I am paying from the short term rental income - even though 25% of the rent I'm paying is actually mine?  Or should I do one Schedule E where I do the $500/month income (for my 25% portion of the $2000/month) along with the depreciation/mortgage interest deduction and a separate Schedule E for the same property where I account for it as an Airbnb where I am paying $1500/month in rent (removing the $500/month that is mine) and include all of the other Airbnb expenses I incur.?
DID YOU E-FILE?   Did you e-file?   Did you go through all three steps of the FILE section and click a big orange button that said “Transmit my returns now?”     When you e-file your return... See more...
DID YOU E-FILE?   Did you e-file?   Did you go through all three steps of the FILE section and click a big orange button that said “Transmit my returns now?”     When you e-file your return you will get two emails from TurboTax.  The first one will say your return has been transmitted; the second one will tell you the IRS has accepted  or rejected your federal e-file.  If you filed a state return, there will be a third email (usually a day or two later) that tells you if the state e-file was accepted or rejected.   Check your e-file status:   https://turbotax.intuit.com/tax-tools/efile-status-lookup/    What does it say in your account?  Does it show that the return was accepted?   Or does it say something else---like "rejected," "printed," or "ready to mail?”       If your e-file was accepted:   Once your federal return has been accepted by the IRS, only the IRS has any control.  TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.     You need your filing status, your Social Security number and the exact amount  (line 35a of your 2024 Form 1040) of your federal refund to track your Federal refund:    https://www.irs.gov/refunds   To track your state refund:     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr   If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refunds-take-longer-others/L14YlqFrH_US_en_US?uid=lexdr7zh . https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/irs-refund-taking-longer-21-days/L2vRAJbdU_US_en_US?uid=lexe7lst     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/irs-refund-taking-longer-21-days/L2vRAJbdU_US_en_US?uid=lexe7lst  
I agree with @dmertz.   Also, if you do need to file a 1041 for other income of the estate, you should be aware that probate fees (and the like) would not, by themselves, create an NOL; they would ... See more...
I agree with @dmertz.   Also, if you do need to file a 1041 for other income of the estate, you should be aware that probate fees (and the like) would not, by themselves, create an NOL; they would be final year deductions that could be passed through to the beneficiaries.
You will not be preparing or filing a 2025 tax return until next year in 2026.   There are rules for who can claim a dependent.    You say you "no longer talk to" your parent, but that does not mean ... See more...
You will not be preparing or filing a 2025 tax return until next year in 2026.   There are rules for who can claim a dependent.    You say you "no longer talk to" your parent, but that does not mean you will not meet the criteria to be claimed as a dependent.   The other thing you should understand is that your tax due or refund are unlikely to be affected even if you can be claimed as someone else's dependent.       WHO CAN I CLAIM AS A DEPENDENT?     You can claim a child, relative, friend, or fiancé (etc.) as a dependent on your 2024 tax return as long as they meet the following requirements: Qualifying child They're related to you. They aren't claimed as a dependent by someone else. They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident. They aren’t filing a joint return with their spouse. They're under the age of 19 (or 24 for full-time students). No age limit for permanently and totally disabled children. They lived with you for more than half the year (exceptions apply). They didn't provide more than half of their own support for the year. Qualifying relative They don't have to be related to you (despite the name). They aren't claimed as a dependent by someone else. They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident. They aren’t filing a joint return with their spouse. They lived with you the entire year (exceptions apply). They made less than $5050 in 2024.   (Not counting Social Security)  (For 2025 that amount increases to $5200) You provided more than half of their financial support. When you add someone as a dependent, we'll ask a series of questions to make sure you can claim them. There may be other tax benefits you can get when you claim a dependent. Related Information: What does "financially support another person" mean? Can I claim myself or my spouse as a dependent?  
Please ask a complete clearly worded question.  This is not live chat.   Ask a question we can understand and then wait for someone to reply.   What "advance payments" are you trying to amend?
  You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.    https://myturbotax.intuit.com/   ... See more...
  You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.    https://myturbotax.intuit.com/   Start a 2024 return online and enter some personal information  so that the menu on the left opens up and lets you access your past year returns.   https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/01/27010     https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m5y4ch1y   Many people have multiple TT accounts and forget how to access them.  Log out of the account you are in now.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx Account Recovery     Or did you use the desktop version of TurboTax?  If so, the files are on your own hard drive or any backup device you used like a flash drive.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/find-last-year-tax-data-file-tax-file-computer/L0XJvPaJr_US_en_US?uid=m6gufxei     https://ttlc.intuit.com/turbotax-support/en-us/help-article/data-systems/find-tax-data-file-mac/L4VNGm33S_US_en_US?uid=m6guhab0 You can get a free transcript from the IRS or for a fee of $30, an actual copy of your tax return. https://www.irs.gov/individuals/get-transcript https://www.irs.gov/pub/irs-pdf/f4506.pdf       SAVE YOUR TAX RETURNS ! EVERY year before mid-October you should save a copy of your tax return as a pdf and print a copy of it for your records.  That way you will not be searching online frantically when you need it for a lender, FAFSA forms, your next tax return, etc.    https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m6guj526   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m78eb8pc In order to transfer a past year return to the new return you need the tax file   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-turbotax-online-return-tax-data-file/L4xwOG3LF_US_en_US?uid=m6guk3xl   NOTE:  TurboTax and the IRS save returns for seven years.  Returns older than seven years are purged.    
And....do you have a question for the user forum?
Big bethel road Virginia Hampton
how to I send the token number without it being seen by all in the community pages?
Do I report my MACRs depreciation I am taking for a  current year for tangible property on line 17 of the 4562?    
This is extremely annoying, but it worked for me eventually: 1. made Windows update to date and restarted laptop 2. uninstalled and reinstalled Turbo tax, did the manual update for Federal, New Yor... See more...
This is extremely annoying, but it worked for me eventually: 1. made Windows update to date and restarted laptop 2. uninstalled and reinstalled Turbo tax, did the manual update for Federal, New York and New Jersey, and restarted laptop 3. still did not work, turned off laptop 4. turned on laptop the next day, and it magically worked   It took me 4 hours in total to get it work. Turbo tax needs to do a much better to fix bug like this.
How do I locate prior year returns?
Thank you for the tip.  I will try this early next week and will let you know.
MrBadStink - When checking updates, scroll down a bit and click Advanced Options and then Optional updates (under the Additional Options section).  Run all of those and then try again. Does that work?
"She had listed myself and my siblings as beneficiaries on the investment accounts."   In that case, the capital gains and dividend distributions made after your mother's death are income of the be... See more...
"She had listed myself and my siblings as beneficiaries on the investment accounts."   In that case, the capital gains and dividend distributions made after your mother's death are income of the beneficiaries, not income of the estate, so this income does not go anywhere on Form 1041.  If this income was reported on a Form 1099-DIV issued to your mother rather than to the beneficiaries, the preparer of your mother's final individual tax return (Form 1040) should forward the income to the beneficiaries using the nominee process and the beneficiaries will report the income on their own tax returns.  (Because beneficiaries other than the estate were designated, the estate is not involved,) 
For those born after December 31, 1958, the RMD age is 75.   If some amount distributed from IRAs is nontaxable, line 4a of Form 1040 is to be populated with the total amount distributed from IRAs,... See more...
For those born after December 31, 1958, the RMD age is 75.   If some amount distributed from IRAs is nontaxable, line 4a of Form 1040 is to be populated with the total amount distributed from IRAs, otherwise line 4a is to be left blank.  The taxable amount of IRA distributions is reported on Form 1040 line 4b.   The time between that last two changes to the life expectancy tables for the calculations of RMDs was about 20 years.
@ Nurseforeverlife wrote:  "It’s been 3months now for my State Income Taxees. It was e-file."   If you are asking about a state tax refund, here are some things you should check:   First, you nee... See more...
@ Nurseforeverlife wrote:  "It’s been 3months now for my State Income Taxees. It was e-file."   If you are asking about a state tax refund, here are some things you should check:   First, you need to be sure your state return was successfully filed.   If you efiled, be sure your efiled state return was accepted.  If you used Online TurboTax, you can check by looking at the Tax Home in your Online account.  Which of these terms is used for the status there:  accepted, rejected, printed, started, ready to mail, or what?   If that shows your efiled state return was accepted, the FAQ below tells how to check on a state refund and has a link for your state. Choose your state from the table in this FAQ: FAQ:  How do I track my state refund? https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_... ‎