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IRS Publication 551, page 14 states:   Property Received as a Gift    To figure the basis of property you receive as a gift, you must know its adjusted basis (defined earlier) to the donor ju... See more...
IRS Publication 551, page 14 states:   Property Received as a Gift    To figure the basis of property you receive as a gift, you must know its adjusted basis (defined earlier) to the donor just before it was given to you, its fair market value (FMV) at the time it was given to you, and any gift tax paid on it.   This TurboTax Help explains that the cost basis for gifted property may vary based upon the fair market value of the gift when it was received compared to the donor's original cost basis.   We are not able to see within your income tax return.  The computation explained in the TurboTax Help explains that either the original cost basis or the fair market value may be reported upon disposition.  This computation explains the values that you are seeing on the IRS form 8283 Noncash Charitable Contributions.   The comparative sales may refer back to the possibility that the fair market value is being used rather than the original cost basis.   If the gifted stock was held long-term by the donor, then the gifted stock is considered long-term to you.  
How should percent of Government Obligations be determined from information on a 1099-DIV if there are multiple funds in the Vanguard brokerage account? Though percentages of GO are given on back pa... See more...
How should percent of Government Obligations be determined from information on a 1099-DIV if there are multiple funds in the Vanguard brokerage account? Though percentages of GO are given on back pages for each fund, the information in Box 1 is not broken down per each fund.  Information about capital gains and long and short term dividends are given for each fund though. Is simply subtracting capital gains from the total dividends and distributions the key before multiplying that by the percent for each?
not sure why you're splitting Fed and State, but you should be able to use "Duplicate" or copy the .tax2025 file to a second file in Finder.
Yet your response to me was the equivalent of "Just bend over and take it up the wazoo."  Hope you don't break your arm while trying to pat yourself on the back for providing nothing helpful when yo... See more...
Yet your response to me was the equivalent of "Just bend over and take it up the wazoo."  Hope you don't break your arm while trying to pat yourself on the back for providing nothing helpful when you responded to my original comment.🤣
There are two types of dependents, "Qualifying Children"(QC) and Other ("Qualifying Relative" [QR] in IRS parlance even though they don't have to actually be related). There is no income limit for a ... See more...
There are two types of dependents, "Qualifying Children"(QC) and Other ("Qualifying Relative" [QR] in IRS parlance even though they don't have to actually be related). There is no income limit for a QC but there is an age limit, student status, a relationship test and residence test.   Since your child turned 24 before the end of the year, he/she can no longer be  QC. So, we look to the QR rules to see if he can still be a dependent.  Student status not longer matters for dependency.  But, if you paid tuition or other qualified expenses, for your QR dependent, then you can still claim the tuition credit. 
If you did not receive your six-digit code, it is most often due to delays, spam filters, or incorrect contact info. Check your spam/junk folders, make sure your email address and phone number are co... See more...
If you did not receive your six-digit code, it is most often due to delays, spam filters, or incorrect contact info. Check your spam/junk folders, make sure your email address and phone number are correct; wait 5 minutes, and request a new code. Also, do not close your TurboTax window asking for the code, as this can invalidate it.   You can also try updating your email address as follows. Click on Not your current email address?. Click on account settings. On the Intuit Account screen, update your email address under Sign in & security. Go to the File section and select Start next to Step 3. Your new email address should be listed on the verification code page, and You’ll receive another verification code at that new email address. If you still don't receive it, you can contact TurboTax Support.    Click here for What if I'm having trouble with my filing verification code? Please return to Community if you have any additional information or questions and we would be happy to help.
Let's try a few things: Line 23 is the 2024 amount. Check to see if the program is picking up last year's information correctly from your 1099-R entry. Be sure the 8915F is filled in with the exa... See more...
Let's try a few things: Line 23 is the 2024 amount. Check to see if the program is picking up last year's information correctly from your 1099-R entry. Be sure the 8915F is filled in with the exact same FEMA number for a data match. This can cause an IRS reject. When you enter the 1099-R, be sure you go through all the questions.   If that doesn't work: A full or corrupted cache can cause problems in TurboTax, sometimes you need to clear your cache (that is, remove these temporary files). Online version: Delete the form 1099-R, 8915F and any associated worksheets- if possible, see How to Delete   Log out of your return and try one or more of the following: Don't use Internet Explorer. Clear cache and cookies, Sign in using a different browser. Sign in using a different device. Log back into your return. Enter the information again.  Desktop version:  Delete the form 1099-R, 8915F and any associated worksheets Save your return while closing the program. Update the program Open Enter the information again.
I just bought a Turbotax premier at Costco and installed it, Last year I used the H&R tax app. and having a hard time importing last years, 2024 tax from H&R tax app. to Turbotax app. Need help, than... See more...
I just bought a Turbotax premier at Costco and installed it, Last year I used the H&R tax app. and having a hard time importing last years, 2024 tax from H&R tax app. to Turbotax app. Need help, thanks.  
No, you put the value of box 1 or 2a into box 16.   Some say it is always box 1, I usually indicate box 2a, as long as 2a is somewhat lower than box 1, and not zero nor empty.
the depreciable basis is the lower of cost and FMV as of the conversion date...   so, just for clarity, for depreciation basis, do I use 10k for which it was purchased in 2002 or ~45k which is my b... See more...
the depreciable basis is the lower of cost and FMV as of the conversion date...   so, just for clarity, for depreciation basis, do I use 10k for which it was purchased in 2002 or ~45k which is my best guess for fair market value in middle of 2022 when it was put to rent?  
I called TurboTax support and told them how the review page said you had to mail but when you hit continue to the “file” tab it gave you the choice to efile. She suggested I just try it and I did.  A... See more...
I called TurboTax support and told them how the review page said you had to mail but when you hit continue to the “file” tab it gave you the choice to efile. She suggested I just try it and I did.  All went through and it’s has accepted.  my first time with amended return as well. Hopefully the last!
I dont have state id or drivers license
I file two 1116 forms, one for general and the other for passive. In the past, TT always advised me to make the form with the largest foreign tax paid copy 1, the other copy 2. There is no such warni... See more...
I file two 1116 forms, one for general and the other for passive. In the past, TT always advised me to make the form with the largest foreign tax paid copy 1, the other copy 2. There is no such warning this year. Does this mean it no longer matters? For 2025 the forms are in the wrong order; the 1116 with the smallest foreign tax paid is copy 1. If order still matters, how can I easily swap the order of the 2 forms while still preserving all the previous years carryover data?
No import is available for that form   AND  it is NOT part of  the regular 1099-R menu entry . There is a separate menu item on the Wages&Income page, specifically listed for SSA-1099 and RRB-1099... See more...
No import is available for that form   AND  it is NOT part of  the regular 1099-R menu entry . There is a separate menu item on the Wages&Income page, specifically listed for SSA-1099 and RRB-1099 forms where you enter to put in the details of your paper SSA-1099
Thank you!  This was actually helpful advice. Much appreciated that you took the time to respond.  Have a wonderful day!