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@MCSmith1974 wrote:   A taxpayer can materially participate in a rental activity and therefore be non-passive without meeting the real-estate-professional thresholds.   Why do you say t... See more...
@MCSmith1974 wrote:   A taxpayer can materially participate in a rental activity and therefore be non-passive without meeting the real-estate-professional thresholds.   Why do you say that?  Do you have special circumstances, such as short-term rental that would make it NOT a "rental activity" or have enough personal use of the property that may make it not a rental activity?  Or are you doing certain grouping elections with your business?   Material Participation in a "rental activity" does NOT make it non-passive.   Or am I misunderstanding your situation or what you are asking about?   Publication 925 [see also §469(c)(2)], under "Passive Activities" says:   There are two kinds of passive activities. Trade or business activities in which you don’t materially participate during the year. Rental activities, even if you do materially participate in them, unless you’re a real estate professional.   https://www.irs.gov/publications/p925#en_US_2024_publink1000104565    
"For the most part, they make a decision and primarily stick with it regardless" And that kind of attitude is what bit Cracker Barrel in the ass!
That webpage is for training for US taxes.  Are you interested in training for US taxes or for Canadian taxes?  If you are interested in the US taxes, you could try using a VPN to make the website th... See more...
That webpage is for training for US taxes.  Are you interested in training for US taxes or for Canadian taxes?  If you are interested in the US taxes, you could try using a VPN to make the website think you are in the US.   If you are interested in training for Canadian taxes, I don't know if Intuit has such training or not.  Googling doesn't seem to show anything that is available.   Unfortunately, I have no idea why Intuit would be sending you those emails, but my experience has been that their email-marketing department has been extremely shoddy and misleading, with many emails that are wrong.  In fact, I just received an email today from Intuit that has a link that leads to something that is not-applicable and outdated.  
E-filing for 2024 is closed.  The only way to file a 2024 return now is by mail.     When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1... See more...
E-filing for 2024 is closed.  The only way to file a 2024 return now is by mail.     When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s.  Use a mailing service that will track it, such as certified mail so you will know the IRS/state received the return.   Federal and state returns must be in separate envelopes and they are mailed to different addresses.  Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.    
I am an Indian and have been in the US for the past year on a J-1 visa. Today I got a message from IBKR regarding the W8 form. A small position <$40 is open, but I haven't traded anything in the last... See more...
I am an Indian and have been in the US for the past year on a J-1 visa. Today I got a message from IBKR regarding the W8 form. A small position <$40 is open, but I haven't traded anything in the last 3 years. Do I need to update my US tax residency in IBKR, where it asks for my SSN and everything, and fill out the tax form?
Go to Settings > Accounts > Windows Backup and see what it says there.
I tried Windows 10 first and got the notice that windows 11 was required plus the option to switch to TT online. Installing on Windows 11 however did not stop the repeated prompts to "Upgrade" to TT ... See more...
I tried Windows 10 first and got the notice that windows 11 was required plus the option to switch to TT online. Installing on Windows 11 however did not stop the repeated prompts to "Upgrade" to TT online. For all the reasons mentioned in this forum I will not do that. Their marketing department seems to be heavily invested in getting 'everyone' to switch. But. I start and end with the FORMS. I only walk through the rest of it to ensure I did not miss anything. And. Microsoft extended my Windows 10 updates for a year without any type of fuss (other than I had to log in to accomplish that and no $30 fee), but otherwise I am Never logged into their "Marketing" center. Did this on an old laptop. When I did it on my desktop, it came back and said I was already set up and it just added that machine to their list (didn't even have to log into Microsoft?). No Windows backup or OneDrive for me! and I've checked!
That is indeed unfortunate. I believe the best solution would be to switch to a desktop version, if you can manage to do that with your hardware configuration.
Wait until your original return has been fully processed before you amend, and make sure you have saved a pdf of the original return before you amend. (If you do not save it as a pdf, the amended ret... See more...
Wait until your original return has been fully processed before you amend, and make sure you have saved a pdf of the original return before you amend. (If you do not save it as a pdf, the amended return will overwrite the original, and the original will be lost forever)     See this TurboTax support FAQ for amending a tax return -   https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-already-filed/L4VjJ9BA2_US_en_US?uid=m76mq6z2    Do not expect quick results from amending. It can take four months or more for the IRS to process an amended return.     You can watch for information here: https://www.irs.gov/Filing/Individuals/Amended-Returns-(Form-1040-X)/Wheres-My-Amended-Return-1  
Online tax preparation and e-filing for 2024  returns is now permanently closed.  The system is in transition from 2024 to 2025.    Now it is too late to use online software or to e-file. If you ... See more...
Online tax preparation and e-filing for 2024  returns is now permanently closed.  The system is in transition from 2024 to 2025.    Now it is too late to use online software or to e-file. If you have any changes/corrections at all to make to your 2024 return, you now have to complete it using desktop software, which you must download to a full PC or Mac  (not to a mobile device).Then you need to print, sign and mail it.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/printers-printing/finish-prior-year-return-started-turbotax-online/L9Oe4M90A_US_en_US?uid=m68tffpe   If you already paid for your online software you can ask customer support for a download of the desktop software.   They are available from 5 a.m. to 5 p.m. Pacific time Monday - Friday   https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number     If you are getting a refund, there is no penalty for filing late.  If you owe tax due, then file and pay the amount due as shown on the Form 1040, but expect a bill later from the IRS for the penalty and interest you will owe.  Only the IRS will calculate this—TurboTax will not calculate it.     When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s.  Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS/state received the return.   Federal and state returns must be in separate envelopes and they are mailed to different addresses.  Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.     ENTER 1095A  TT FAQ https://ttlc.intuit.com/turbotax-support/en-us/help-article/insurance-medical-benefits/enter-1095/L6CLFzhri_US_en_US?uid=m62itugr  
@rjs wrote: The shutters, if they qualify at all, must be installed and paid for by December 31, 2025 in order to claim the credit. You have to enter the "Qualified Manufacturer Identificati... See more...
@rjs wrote: The shutters, if they qualify at all, must be installed and paid for by December 31, 2025 in order to claim the credit. You have to enter the "Qualified Manufacturer Identification Number" (QMID) of the shutters on your tax return in order to claim the credit. That's what Opus 17 referred to as a PIN. You have to get that number from the manufacturer or the seller. If you don't have the QMID you don't get the credit.   Just for reference, the QMID will be required for doors and windows but not "insulation systems".  
The deduction reduces your taxable income so you would likely increase your refund. 
Yeah, thanks.   I don't mean to keep posting about it, but it's a major issue (at least for me).   Until yesterday, I didn't even realize my last 8 years of Turbo Tax Online were done incorrectly... See more...
Yeah, thanks.   I don't mean to keep posting about it, but it's a major issue (at least for me).   Until yesterday, I didn't even realize my last 8 years of Turbo Tax Online were done incorrectly. 
@vetz76 wrote: ........TT is pushing everyone to the online version...... Yes, that's been made perfectly clear in the desktop install screen where you are offered an opportunity to switch to... See more...
@vetz76 wrote: ........TT is pushing everyone to the online version...... Yes, that's been made perfectly clear in the desktop install screen where you are offered an opportunity to switch to online; that is brand new this year. 
@vetz76 wrote: I was hoping I could get enough response to my original post here to convince TT to back off their stupid decision to force the "upgrade" to Win 11.  Understood, but I've been tr... See more...
@vetz76 wrote: I was hoping I could get enough response to my original post here to convince TT to back off their stupid decision to force the "upgrade" to Win 11.  Understood, but I've been trying to tell users, folks who post on this board, that they really don't care about customer feedback with respect to product development (or direction). Form the most part, they make a decision and primarily stick with it regardless. 
I'm going to page @AmeliesUncle for this one, but I believe this has been an ongoing issue over the past few years.   You can make the adjustment with the desktop products in Forms Mode but I suspe... See more...
I'm going to page @AmeliesUncle for this one, but I believe this has been an ongoing issue over the past few years.   You can make the adjustment with the desktop products in Forms Mode but I suspect you may be SOL with the online versions. 
Basically, TurboTax Online misclassifies self-managed rental properties as passive activities unless the taxpayer qualifies as a Real Estate Professional or operates a short-term rental. This means t... See more...
Basically, TurboTax Online misclassifies self-managed rental properties as passive activities unless the taxpayer qualifies as a Real Estate Professional or operates a short-term rental. This means that even landlords who materially participate—personally managing, maintaining, and operating their properties—are treated as passive investors. As a result, their rental losses are not only limited by the $25,000 phase-out but also suspended and effectively unusable, because the software disqualifies them from deducting those carryforward losses against active income in future years. This misapplication conflicts with IRS Publication 925 (§469(h)), which allows materially participating landlords to classify their rentals as non-passive and fully deduct legitimate losses without meeting the stricter Real Estate Professional requirements.
Issue My 2024 tax return was incorrectly limited because TurboTax Online automatically classified my self-managed rental property as a passive activity. Although I materially participate in al... See more...
Issue My 2024 tax return was incorrectly limited because TurboTax Online automatically classified my self-managed rental property as a passive activity. Although I materially participate in all aspects of managing, maintaining, marketing, and leasing the property, etc., the software only allows NON-PASSIVE classification through the Real Estate Professional path, which requires 750 hours and more than half of one’s working time in real-estate trades. As a result, it applied the $25,000 passive activity loss limitation and generated Form 8582, restricting the amount of rental losses I could deduct and carrying the remainder forward, even though IRS rules permit full deduction for materially participating landlords. Summary of Issue I discovered a structural limitation in TurboTax Online (Premium / Live Assisted) regarding the classification of rental real-estate activities under IRS §469. TurboTax Online currently allows non-passive (material participation) treatment only when a taxpayer selects the Real Estate Professional path. However, under IRS Publication 925, material participation and real-estate-professional status are distinct tests: Material participation (§469(h)): Involvement on a regular, continuous, and substantial basis (e.g., personally managing, maintaining, and operating the property). Real-Estate-Professional (§469(c)(7)): 750+ hours and more than half of total working time in real-property trades or businesses. A taxpayer can materially participate in a rental activity and therefore be non-passive without meeting the real-estate-professional thresholds. TurboTax Online merges these two separate IRS standards into a single workflow, meaning: Users who materially participate but are not real-estate professionals are automatically classified as passive, Form 8582 (Passive Activity Loss Limitations) is generated unnecessarily, and Legitimate current-year losses are partially or fully disallowed and carried forward, contrary to IRS rules. This design inflates taxable income and misrepresents compliance for taxpayers who self-manage their rentals (e.g., single-property landlords who do all maintenance, leasing, and management work).   Question Can TurboTax confirm whether the Online product will be updated to allow non-passive (material-participation) treatment for rental activities without requiring the taxpayer to select “Real Estate Professional” status? If not, can TurboTax provide an official recommendation for users who materially participate but are not real-estate professionals — specifically, whether they must use TurboTax Desktop Home & Business to ensure correct classification and eliminate Form 8582?   Closing I would appreciate clarification or documentation confirming how TurboTax intends to handle this distinction so that materially participating landlords can file accurately under §469(h) without being forced into the §469(c)(7) real-estate-professional election.       
Well, I hate to admit it but I knuckled under and "upgraded" my Win 10 to Win 11 with no cost other than Win 11 makes it hard to access any non MS programs such as OPEN OFFICE which I use. I haven't ... See more...
Well, I hate to admit it but I knuckled under and "upgraded" my Win 10 to Win 11 with no cost other than Win 11 makes it hard to access any non MS programs such as OPEN OFFICE which I use. I haven't down loaded TT yet but will soon.  And I do agree that TT is pushing everyone to the online version so they can have total control over how you use the software, i.e. one return, no more. I was hoping I could get enough response to my original post here to convince TT to back off their stupid decision to force the "upgrade" to Win 11.  After this year I may just go back to having my taxes done by a professional!