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"Do I add the two IRAs together?"   Yes, when TurboTax asks for the year-end balance, it's asking for the combined value of two IRAs on December 31, 2024.   The rollover of after-tax funds from t... See more...
"Do I add the two IRAs together?"   Yes, when TurboTax asks for the year-end balance, it's asking for the combined value of two IRAs on December 31, 2024.   The rollover of after-tax funds from the 401(k) to the traditional IRA requires an adjustment on your 2024 Form 8606.  When TurboTax asks if you made nondeductible contributions to your traditional IRAs, answer Yes.  Click the EasyGuide button that TurboTax presents, then, when presented with a number of boxes for different types of adjustments, enter in the box for after-tax funds from an employer plan the amount of after-tax funds rolled over.  Enter this even if 2024 TurboTax asks only for after-tax amounts rolled over prior to 2024, after-tax amounts rolled over from employer plans in 2024 are to be included.  TurboTax will then ask you to provide an explanation statement for this adjustment and will include the adjustment on line 2 of Form 8606.   "there was no distribution from this IRA in 2024."   It doesn't matter which IRAs the 2024 distributions cam from.  All of your traditional IRAs, including the rollover IRA, are treated as one combined IRA for tax purposes.
I want to take the tax changes that we know about for 2025 and plug them into the 2024 desktop turbotax deluxe software, however, the first thing I tried to adjust for was the standard deduction incr... See more...
I want to take the tax changes that we know about for 2025 and plug them into the 2024 desktop turbotax deluxe software, however, the first thing I tried to adjust for was the standard deduction increase.  I cannot find anywhere that I can do that.  Has anyone tried to do this and found a fix?
Form 8936 can be used for a EV rental for Uber Driving?
There is such a form. I received one in a Request for Tax Return. However you will not find the form online since  apparently, FTB wants its victims to complete the form online.
El IRS ofrece asistencia a hispanohablantes en IRS.gov/espanol. Puede contactar al IRS llamando al 800-TAX-FORM (800-829-3676) e indicando que necesita ayuda con hispanohablantes.
Well there's over a dozen kinds of 1099.  Where is it asking if you need to file a 1099?  That could be for several other 1099s too.  Or even a 1099NEC you need  to  prepare to give to someone you pa... See more...
Well there's over a dozen kinds of 1099.  Where is it asking if you need to file a 1099?  That could be for several other 1099s too.  Or even a 1099NEC you need  to  prepare to give to someone you paid for business.  So  you need to include the letter like 1099R, 1099-INT, 1099-DIV, 1099B, 1099NEC, 1099Misc, etc.  
Does a 1099-R mean that I need to file a 1099?
https://ttlc.intuit.com/community/payments/help/what-forms-of-payment-does-turbotax-online-accept/00/26079
  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.      
Federal Taxes Deductions & Credits Estimates and Other Taxes Paid Other Income Taxes Payments with Extension   You said you made the payment "IN" 2024. An extension that you filed IN ... See more...
Federal Taxes Deductions & Credits Estimates and Other Taxes Paid Other Income Taxes Payments with Extension   You said you made the payment "IN" 2024. An extension that you filed IN 2024 would have been for your 2023 tax return. You would enter that payment in your 2023 tax return, not in your 2024 tax return. If you filed an extension for your 2024 tax return you would have filed the extension and made the payment IN 2025. You would enter that payment, that you made IN 2025, in your 2024 tax return.  
@RMI , agreeing with my colleague @DoninGA , that you probably do not need to file a form 3520, I just want to make sure  that  neither of the donors are  related directly or indirectly to for purpos... See more...
@RMI , agreeing with my colleague @DoninGA , that you probably do not need to file a form 3520, I just want to make sure  that  neither of the donors are  related directly or indirectly to for purposes of threshold computation. Section 267 and 707 (b)  are relevant here  and generally take a  very broad view of "related" person.  This is especially of import =since this is not a tax event  i.e. there is no tax effect in recognizing/filing a form 3520. IMHO   pk
@ammon626  well congratulations  are in order. (a) what is your own status--- US person ( citizen/GreenCard/ Resident for Tax purposes )  or NRA ? (b) If you were not a  US person ( citizen/Green... See more...
@ammon626  well congratulations  are in order. (a) what is your own status--- US person ( citizen/GreenCard/ Resident for Tax purposes )  or NRA ? (b) If you were not a  US person ( citizen/GreenCard/Resident for Tax purposes ), then we need to know  which country you are from ?  There may be  tax treaty considerations. (c) To amend a return ( from single ) to MFJ, your spouse needs to have a tax id ( TIN --- SSN / ITIN ).  However, generally the TIN is not retroactive ( except for the  current filing season ). (d) Also note that if you filed as single while being married ( and filing  form 1040 as a US person ), you may be subject to perjury jurat.   Having said all of the above , please answer my questions  and I will circle back and help -- yes ?    
Ok, entonces quizá en unas semanas mas manden los documentos verdad Me podría brindar a que numero de teléfono puedo llamar al IRS o como puedo comunicarme con ellos
No....the IRS will not refund tax withheld from your paycheck in the middle of the year.  Sorry.   When you prepare a 2025 tax return in early 2026, the amount of income you received and the amount o... See more...
No....the IRS will not refund tax withheld from your paycheck in the middle of the year.  Sorry.   When you prepare a 2025 tax return in early 2026, the amount of income you received and the amount of tax that was withheld from your earnings will be reconciled to determine if you owe more tax or receive a refund.  There is no such thing as an interim income tax refund.
Some folks find they have a Windows update waiting to be fully installed...sometimes tha blocks TTX form opening fully.  Completing any waiting updates, and sometimes just rebooting your computer can... See more...
Some folks find they have a Windows update waiting to be fully installed...sometimes tha blocks TTX form opening fully.  Completing any waiting updates, and sometimes just rebooting your computer can solve the problem.
Hello community.  I am thinking of opening an individual 401K (95% of my income is 1099, self-employment and 5% is from an LLC as passthrough).  My tax extension deadline is 10/15/25.  I know that I ... See more...
Hello community.  I am thinking of opening an individual 401K (95% of my income is 1099, self-employment and 5% is from an LLC as passthrough).  My tax extension deadline is 10/15/25.  I know that I cannot make elective deferrals and catch up contributions retroactively for 2024.  However, I understand that I can still make the profit sharing contributions (approx 25% of net self-employment inc.).  TT has the Maximize button for the individual contributions BUT I don't see how I can calculate the Employer (Profit Sharing) contributions to see how much it might impact my State Tax liability for California.  From other TT posts, I learned there is no impact on Federal taxes in terms of a deduction.  I would need to know how to make this calculation anyway for the 2025 tax year so looking for some guidance.  Thanks.