All Posts

@bobby_chris30  I added some info to my answer above to point out that desktop software needs to run on an actual full computer, not a tablet, iPad, etc.   See the following requirements:   FAQ:  Minimum system requirements for desktop software https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-system-requirements/minimum-system-requirements-turbotax-mac-software/L5ar0Busw_US_en_US

If you want to choose TurboTax to prepare the 2023 return, it can only be in the 2023 desktop software, which requires a full computer (PC or Mac); it can't be on a tablet, iPad, etc..  A 2023 return cannot be prepared online with TurboTax.   It cannot be efiled; it has to be printed, signed, dated, and mailed.   It's recommended to mail with a method that has tracking.   You can purchase 2023 desktop software from TurboTax at this page: https://turbotax.intuit.com/personal-taxes/past-years-products/   Or you may be able to still find the 2023 product at Amazon.  But if you purchase there, be sure it is being sold by Amazon itself as an authorized retailer and not some third-party seller.   There will be a page of Filing Instructions that prints with the return, and folks in this user community can assist if you have any questions.

Here's how you can report the income from the Canadian employer on your U.S. tax return, in spite of the employer's error. You enter the income as additional wages that were not reported on a W-2. You will pay income tax on it, and also the Social Security and Medicare taxes that the employer should have withheld. You will pay the same amount that you would have paid if your employer had handled it correctly on a W-2. Since the employer gave you a T4 I assume that they paid you in Canadian dollars. You have to convert the amount to U.S. dollars. All amounts that you enter in your U.S. tax return must be in U.S. dollars. Here's how to enter the income in TurboTax.   Go to Federal Taxes > Wages & Income. Click "I'll choose what I work on." On the screen "Your 2024 Income Summary," scroll all the way down to the last section "Less Common Income." Click the Start button for the last topic, "Miscellaneous Income, 1099-A, 1099-C." On the next screen click the Start button for "Other income not already reported on a Form W-2 or Form 1099." The next screen asks "Did you receive any other wages?" Select Yes and click Continue. The next three screens ask about household employee wages, sick or disability pay, and Medicaid waiver payments. Click Continue on these three screens without entering anything. The next screen asks "Did you earn any other wages?" Select Yes and click Continue. The next screen asks the source of the other earned income. "Employee compensation that was not reported on a W-2" will already be selected. Click Continue. On the next screen, "Employee Compensation Not Reported on a W-2," click Continue. If you are filing a joint return, you will get a screen asking which one of you the income is for. Select your name and click Continue. On the next screen, "Report Your Wage Income," enter the employer's name and the total amount of the wages, in U.S. dollars. Under "Employer's Tax ID Number" select "I don't know my employer's tax ID number. For the Reason Code select "H - I received a Form W-2 and a separate Form 1099-MISC and/or 1099-NEC and the income should have been reported on Form W-2." Select code H even though you did not get a 1099-MISC or 1099-NEC. Click Continue. Read the next screen, "Report as Wages," and click Done. The income will be reported on Form 1040 line 1g. Form 8919 will be included in your tax return. Form 8919 calculates the Social Security and Medicare taxes. The total of these taxes will appear on Schedule 2 line 6 and will be included in your total tax liability.  

@shrivatsk , for 2024  tax year -- federal you can file MFJ  ( that does mean that your spouse's income is also taxed by the Fed.  Or you can file  MFS and leave her income out ( if she is NRA ).   For CA, your income is CA sourced  but her is not --- and her residency starts when she settled/entered CA. Are you a US person ( citizen/GreenCard / Resident for Tax Purposes )?  How about her ?   Is there more I can do for you >

To get the maximum exclusion of gain when selling your home you must satisfy all of the following conditions. You owned the home for 2 years out of the 5 years preceding the sale. You lived in the home as your primary residence for 2 years out of the 5 years preceding the sale. You did not claim an exclusion of gain for the sale of another home within two years preceding the sale. See IRS Publication 523, Selling Your Home, for details and exceptions.  

So when they passed away (one Dec Sept 2020 and one Dec 2020, our lawyers said to open a brokerage account in the estate name and put all of their assets in there. This included several bank accounts, many stocks and cash. So that's what we did.  Because of Covid and absolutely no legal will with my parents, everything took a long time in probate.  By 2023, all the stocks were sold and everything deposited into the brokerage account.  Again we were told there would be no taxes for either of us when we inherit this money.   (Side note, there was no way to find the cost basis of any stock as my parents owned them for decades, some 40+ years)   In March of 2023, the lawyers told us to divide the assets.  Since I was paying all the estate and house bills since their 2020 deaths, I took what I paid out first over those years, and then divided the rest up 50-50 to my sibling.  (It was nearly $150,000 in bills that I paid)  So to make round numbers, let's say I received $1,075,000 and they received $925,000.   Neither of us paid any taxes on any of that money, nor claimed it as income per our accountant and lawyers.  For any year.  They said this was tax free inheritance.     When my brother took the estate taxes to H&R Block for year 2022, they didn't say anything about needing to file final year taxes.  So we thought we were done with everything.   Now all of a sudden we find this $2900 broker 1099 DIV  statement for two months in 2023 in the estate name.  So this $2900, which is in the estate name, is what we're dealing with now.   We no longer have a relationship with the lawyer nor accountant as they were insanely expensive and we could not afford them now.  We only used them at the time because we figured the estate would be paying for them in the end, so why not get "good" ones.  Recommended from relatives of course.  Wouldn't do it again. 

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=m7e64td0   If you used desktop download software, the tax return is stored on your own hard drive.