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JotikaT2, OK, for us totally tax challenged, old, fat, one eyed and retired Senior Citizens, what are you telling me in plain English? Is it that, since there is no recourse and under the terms of the Covid-19 EIDL since default is not allowed, it cannot be forgiven or "charged off debt" and therefore is not taxable as income, gift or other taxable money coming into the LLC? Or, since this money is loaned to the LLC and then goes to the employees (even if as dividends it is still given for performance of services if the person is an employee of the LLC engaged in efforts to generate (or involved in) revenue generating efforts, directly benefiting the LLC) it is not taxable as it stands as a debt until discharged in bankruptcy, insolvency or other? Just trying to get this straight in my head it will stand as a debt until resolved or the statute of limitations is satisfied? Thanks. Mudtech61

Hello,   I’m sorry I wasn’t more clear. I live in Florida and work remotely for a company in NJ. I receive a W-2 and had $3014 withheld in NJ.  I’m filling out the NJ 1040NR form. I see $0 refund. I was expecting to see $3014. What did I do wrong?

This is the TurboTax US user community website. Go to this TurboTax Canada website for assistance with a Canadian tax return or the TurboTax Canada editions - https://turbotax.community.intuit.ca/turbotax-support/en-ca

Assuming you are trying to enter the cost basis for assets on your rental property, you will need to enter the cost basis on your depreciation screen for your Schedule E for the specific rental property.  Please follow the directions in this link to access the entry location.   If you are asking about the cost basis for another type of property, please comment back with exactly what type of cost basis you are looking for, and we will do our best to assist you.

On an IRS Form 1099-R there is not an account number and a Document ID required to be entered on the tax return. If you have a paper 1099-R or a PDF of the 1099-R, there may be an account number box in the lower left of the form.  See IRS Form 1099-R for tax year 2024 - https://www.irs.gov/pub/irs-prior/f1099r--2024.pdf

If your brokerage is an approved import partner, you can import using the steps in this link.  Make sure to use the correct log in for each account when you start importing from your investment account.   If your brokerage is an approved partner but you are still having issues, please refer to the steps in this link for more troubleshooting steps.

In general, and if there is a tax treaty with your home country:   Most tax treaties say that your social retirement benefit (equivalent to US social security) should be taxed in your home country according to your home country's rules, and only your other income is taxed in the US.  This is the strategy of "relying on the treaty" as we might say.   Or, you can ignore the treaty, not pay tax in your home country.  In this case, the income is fully taxable in the US because, as a US resident, all your world-wide income is usually taxable in the US.     However, to know which exact rules apply to you, we need to know the country, among other details.  @pk is the absolute expert on this forum for this topic area.   If you paid tax in the US on all your foreign retirement income, instead of only on the portion that was not taxed in the foreign country, that is your mistake in preparing your returns.  There is a way to declare your foreign income as not taxable in the US due to the treaty.  The typical remedy would be to file amended US tax returns to adjust the amount of taxable income you report, so you are only taxed on the correct portion.  If the amended return results in lower tax, the difference would be refunded back to you.  You can amend your 2022, 2023 and 2024 tax returns.  It it too late to file an amended return for refund for tax years 2021 and earlier.   If you just want proof of what you reported to the IRS, so you can show that to your home country (that you paid tax on all your retirement, for example) you can get transcripts of your returns going back 10 years.   https://www.irs.gov/individuals/get-transcript  

I'd recommend looking at each state where you plan to do business for more details.  Each state and potentially local agency would be the entities imposing state sales and local sales tax.  Sales tax returns are prepared independently from income tax filing requirements.     @avigo45 

It depends.  If you reside in certain states, you would need to use TurboTax Desktop.  Please see this link for more details to determine if this applies to your specific situation.   This link provides more details as well that you can refer to for additional information.

Thanks, and yes indeed - you have rightly identified the source of uneven income.  Sounds like there isn't a way around the manual intensive process, and the software is probably not of much help. Appreciate your input. 

The terms of these loans do not have provisions for not paying them back or defaulting.  These loans were issued with terms specifically saying you cannot default on the loans.  You will need to use the last link provided above to reach out to them directly to see what your options are with the agency.   If they indicate your loan can be forgiven, you may face tax implications on the amount of the debt forgiven.  Please see this link for more details.

@juham2013 , I humbly disagree -- I cannot offer any solutions without understanding the whole scenario , including the  treaty you refer to.  My apologies  for my inability.   As I see it , you have a copy of your filed/accepted return and/or  get a transcript from the IRS --- for  the purpose quoted..