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September 29, 2025
2:45 PM
How to amend tax return for 2021 and 2022.
September 29, 2025
2:44 PM
Typically a large change in taxes owed (or refund amount) is due to income or deduction changes on your tax return. The most common things to consider are job changes or life events such as a depende...
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Typically a large change in taxes owed (or refund amount) is due to income or deduction changes on your tax return. The most common things to consider are job changes or life events such as a dependent who ages out or a marital status change. This article has a fairly thorough list of reasons for changes, so it’s a good place to start. If nothing in the linked article above applies to your situation, the next step is to compare your prior year tax return (Form 1040) to the current year. It’s best to review it line-by-line to pinpoint what’s changed, or perhaps even catch a simple typo in your entries.
For help accessing a prior year return check this article on How do I view, download, or print a prior-year tax return?
September 29, 2025
2:40 PM
About to e-file 2024 NJ1040. Return includes small amount of income from estates and trusts which is correctly reported on an "Other Income" schedule. However, the last page in the return is headed "...
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About to e-file 2024 NJ1040. Return includes small amount of income from estates and trusts which is correctly reported on an "Other Income" schedule. However, the last page in the return is headed "Additional Information From 2024 New Jersey Income Tax Return". Below that is "Other Contributions". And below that is "Nature of Prize Source" which shows the name of the trust and the income. I'm not concerned about e-filing with this, but why would TurboTax generate this form which is clearly incorrect? At a minimum, is there a way to advise TT about this? (Had same issue in 2023.) Also, shouldn't NJ get a copy of Federal Schedule B? Or do they get this from the Federal filing?
Topics:
September 29, 2025
2:27 PM
When the appreciated securities are sold the gain will be subject to tax and if substantial, to Kiddie tax at your tax rate. You can’t convert the entire $100,000 to a Roth or 529 since both have c...
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When the appreciated securities are sold the gain will be subject to tax and if substantial, to Kiddie tax at your tax rate. You can’t convert the entire $100,000 to a Roth or 529 since both have contribution limits. In addition, assuming that you want the child to have the Roth, recognize that the child has to have earned income to be able to do that.
September 29, 2025
2:22 PM
@user17591658047 , In my view, since you were not present during the Non-Resident portion of the year NOR had any US sourced income, it serves no purpose ( other than paperwork ) to fill out 1040...
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@user17591658047 , In my view, since you were not present during the Non-Resident portion of the year NOR had any US sourced income, it serves no purpose ( other than paperwork ) to fill out 1040-NR with all zeroes and having to paper-file ( with "Dual Status Filer" legend on the first pages of each of the 1040s ).
Does that cover your query ?
September 29, 2025
2:20 PM
1 Cheer
Only the IRS can give you any information about your return. They are telling you that you will have to be patient.
September 29, 2025
2:16 PM
@pk Your detailed reply was very helpful. Thanks for the additional info about FBAR and SAR. Can you please clarify one question - Do I need to file 1040-NR for the part of the year I was non-res...
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@pk Your detailed reply was very helpful. Thanks for the additional info about FBAR and SAR. Can you please clarify one question - Do I need to file 1040-NR for the part of the year I was non-resident? No US Income in 2024. In other words, what would I enter in the 1040-NR when no US income?
September 29, 2025
2:12 PM
September 29, 2025
2:05 PM
I don’t remember, I forwarded it as spam…something to do with did I file enough taxes. We did short form. And it wanted me to click a link or call a California phone number…I only call if I direct di...
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I don’t remember, I forwarded it as spam…something to do with did I file enough taxes. We did short form. And it wanted me to click a link or call a California phone number…I only call if I direct dial a confirmed number from the direct website. Too much craziness going on to trust a pop up message
September 29, 2025
2:04 PM
@DefLepp
1. Under treaty article covering " elimination of double taxation", US has to recognize the taxes paid to a foreign taxing authority ( generally in full ). However, US can only allow...
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@DefLepp
1. Under treaty article covering " elimination of double taxation", US has to recognize the taxes paid to a foreign taxing authority ( generally in full ). However, US can only allow negation of its taxes on the same doubly taxed foreign sourced income. Also because of different tax laws , " doubly taxed foreign source income" can become an issue.
2. Thus to meet its own rules and also abide by the treaty, US recognizes the full amount of taxes paid on the foreign source income and allows ONLY its allocated taxes as credit for the current year. Then it allows the rest ( unused Foreign Tax Credit) to used as carry back and forward ( similar to other credits like NOL)
3. US also protects itself from " abuse" by using HTKO regime i.e. shifting highly taxed passive income to general category income and its taxing rules.
4. Given India's availability of "indexing of basis " or "Non-indexed basis" and USA allowing only FMV at death and at sale, I do not understand how you end up with such a large differential ( US gain US$10K and India gain US$75K). I am missing something here, even allowing for currency differential over ?? years. Please could you clarify ?
Does this answer your query? Is there more can do for you ?
September 29, 2025
1:58 PM
September 29, 2025
1:57 PM
Q. Are any of the items, listed, tax deductions for RNs?
A. No. Regular W-2 employees are no longer (since 2018) allowed to deduct job expenses, including education.
Regular W-2 employees are...
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Q. Are any of the items, listed, tax deductions for RNs?
A. No. Regular W-2 employees are no longer (since 2018) allowed to deduct job expenses, including education.
Regular W-2 employees are not allowed to deduct job expenses, including any of the items you listed. If you're self employed, you can deduct expenses, as a business expense, on schedule C.
Deductions on the state return may be allowed in AL, AR, CA, HI, MN, NY or PA. If so, this will come up in the state interview, in TurboTax.
Even in the "old days" , job expenses were only a misc. itemized deduction. You only got to deduct that portion of your misc. itemized deductions that exceeded 2% of your AGI, and then only if your total itemized deductions exceeded the standard deduction (which was doubled under the 2018 tax law. . (2% rule explained: https://ttlc.intuit.com/questions/2902781-what-is-the-2-rule ).
For Continuing education and training: if the courses were taken at a recognized college or vocational school (educational institutions eligible to participate in the student aid programs administered by the Department of Education), you may be able to take the Lifetime Learning Credit (but not the more generous American Opportunity credit).
September 29, 2025
1:54 PM
@user17591658047 agreeing with my colleague @Opus 17 , under article 19 para1, your govt. pension for services rendered to India, the pension distribution is only taxable by India
Your passive ear...
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@user17591658047 agreeing with my colleague @Opus 17 , under article 19 para1, your govt. pension for services rendered to India, the pension distribution is only taxable by India
Your passive earnings ( interest / dividend etc. ) are however taxable in US. India may also tax these incomes.
If India taxes these incomes and you wish to avail of foreign tax credit, then you have to file a return. Additionally if the gross world income ( exclusive of Govt. pension) is above the deduction ( itemized ), you probably have to file a return.
My general sense is that ( especially given the current political environment) it is probably better for you to file a 1040 return showing your world income ( pension, passive income etc. ), excluding the pension income ( as negative "other" with notation " US-India Tax Treaty article 19 " and claiming Foreign Tax Credit ( if there is any passive/interest earning taxed by India ) --- note that because of US and India tax calendars being different , you may have allocate the incomes according to US tax Calendar. This should result in nil to very little US taxes.
Assuming that your GoI pension and interest earnings are deposited into an Indian bank account, as a US person ( citizen/GreenCard/Resident for Tax purposes ), you do come under FBAR ( ONLY on-line form 114 at FinCen.gov) and FATCA ( form8939 along with your form 1040 ) -- see requirements here -->
Comparison of Form 8938 and FBAR requirements | Internal Revenue Service
I am assuming from your post so far that you are living here with GreenCard with family and therefore may not be moving funds between India and US. However, note that any movement of US$10,000 or more ( domestic or international) always result in SAR ( Suspicious Activity Report ) being raised by US bank as a matter of course -- no impact on anything.
Is there more one of us can do for you ? You can post here or PM me ( just NO PII -- Personally Identifiable Information)
Namaste ji
September 29, 2025
1:52 PM
@Opus 17 "I don't think you need to file a US return at all if you have no other income." - Is this statement correct?. IRS website says otherwise - Filing tax return on worldwide income and taking...
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@Opus 17 "I don't think you need to file a US return at all if you have no other income." - Is this statement correct?. IRS website says otherwise - Filing tax return on worldwide income and taking any tax credit on 1116. I can probably exclude pension part but not interest income. @pk can you chime in too please? Do I need to file 1040-NR for the part of the year I was non-resident? Again, no US Income in 2024. In other words, what would I enter in the 1040-NR when no US income? Thank you!
September 29, 2025
1:49 PM
Yes and yes. Some states may not tax it, but at first glance, I don't see anything from Oregon that would exclude it from being taxed.
September 29, 2025
1:41 PM
What's it about? Could be an email from marketing about finishing your return. Or about pre ordering the 2025 program that comes out in November. Or checking on your credit card, etc. for the aut...
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What's it about? Could be an email from marketing about finishing your return. Or about pre ordering the 2025 program that comes out in November. Or checking on your credit card, etc. for the auto renew for 2025 and letting you know when they will charge your credit card.
September 29, 2025
1:36 PM
I received a message fromTurboTax …is there a link to send the message to or email if I’m concerned that it is spam.
September 29, 2025
1:30 PM
Is your refund big enough to cover the fees plus the EXTRA $50 Refund Processing Service charge? If your refund is big enough it should give you the option to pay the fees from your refund. H...
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Is your refund big enough to cover the fees plus the EXTRA $50 Refund Processing Service charge? If your refund is big enough it should give you the option to pay the fees from your refund. How to review your fees https://ttlc.intuit.com/community/charges-and-fees/help/how-do-i-review-my-fees-in-turbotax-online/00/26353