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a month ago
Instead of deleting the car, indicate that it is no longer used for business. This way if you change it back to business use or sell it, the data will still be there for you. It is not likely that yo...
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Instead of deleting the car, indicate that it is no longer used for business. This way if you change it back to business use or sell it, the data will still be there for you. It is not likely that you'll end up with a taxable gain when you sell the car, because cars lose value quickly, but the depreciation or mileage you claimed does lower your cost basis. You must also report any section 179 recapture this year (See: What is a Section 179 recapture?).
Here is how to do this in TurboTax Online:
Navigate back to the Self-employment income and expenses section and select your business.
Choose the pencil icon to the right of Vehicle, and on the next screen choose the pencil icon to the right of the car.
Select the box "I stopped using this vehicle in 2025." This will generate a box below asking for the date you stopped using it for business. You can use 1/1/2025 if you didn't use it at all this year.
Continue through the interview, and report your business miles as 0.
At the screen Do any of these apply to the car?, select You started using it as a personal vehicle 100% of the time at any point in 2025.
Since you did not sell the car, don't enter any sales price or expenses of sale.
a month ago
4 Cheers
This seems like a silly thing to do when “importing” is a feature we utilize so we don’t have to manually input 1099s. Why can’t TurboTax have a software update that fixes this issue??????
a month ago
If you are still having an issue editing the state tax worksheet, try deleting the state and starting over. It shouldn't take long to get all the information back for the state because most of the da...
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If you are still having an issue editing the state tax worksheet, try deleting the state and starting over. It shouldn't take long to get all the information back for the state because most of the data feeds from the federal screen. Troubleshooting State Issues How to delete state tax return If this doesn't resolve the issue, let us know.
a month ago
Yeah I have been using TurboTax for over 20 years and this is the 1st year I went to someone else over this issue. Probably won't be using TurboTax ever again.
a month ago
1 Cheer
You should probably check out this thread. https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/nua-stock-sale-and-3-8-niit/01/3075360 Something that I hadn't consid...
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You should probably check out this thread. https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/nua-stock-sale-and-3-8-niit/01/3075360 Something that I hadn't considered is that the NUA should be exempt from NIIT. It looks to me that you might have to use forms mode of a desktop version of TurboTax to make an entry of $12,200 on the Form 8960 Worksheet line 5b Adjustment for gain or loss on dispositions. This will put -$12,200 on line 5b of Form 8960. (If your income is not high enough to subject you to NIIT such that your tax return does not include Form 8960, you don't need to do this.)
a month ago
Whoever is receiving the rent income would have to file a Schedule E to report it on their tax return.
a month ago
That question is in the middle of the dependent interview, so you can't go directly to that specific question. Go back to the My Info section, scroll down to dependents and click on Edit next to th...
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That question is in the middle of the dependent interview, so you can't go directly to that specific question. Go back to the My Info section, scroll down to dependents and click on Edit next to the dependent you need to edit. Then slowly go back through the questions. You may want to delete the entry completely and re-enter the dependent from scratch. How do I add or remove a dependent?
a month ago
Same issue here! Very frustrating!!
a month ago
Hi everyone! I’ve read a few forms addressing this similar question, but I can’t wrap my head around what I’m supposed to do for my specific situation. I transferred $15k from my 401k to a Tradit...
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Hi everyone! I’ve read a few forms addressing this similar question, but I can’t wrap my head around what I’m supposed to do for my specific situation. I transferred $15k from my 401k to a Traditional IRA and then rolled it over to a Roth IRA. I received a 1099-R for the Roth IRA. Box 1 and 2a are both $15k, both boxes for 2a are checked: taxable amount not determined and total distribution, box 7 has the number 2. What is my basis, is it $0 or $15k?!? And can you please explain it as simple as possible! TIA!!!
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a month ago
Print it, sign and date it in ink, and mail It in.
Use a mailing service like certified mail to track so you will know it was received since you will have a long wait.
Do not expec...
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Print it, sign and date it in ink, and mail It in.
Use a mailing service like certified mail to track so you will know it was received since you will have a long wait.
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/wheres-my-amended-return
a month ago
Exactly what amount was lowered? Do you mean the refund on line 35a of your 2025 Form 1040? Or are you talking about the amount you actually received, which could be less than line 35a? An offset wou...
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Exactly what amount was lowered? Do you mean the refund on line 35a of your 2025 Form 1040? Or are you talking about the amount you actually received, which could be less than line 35a? An offset would not be reflected on your Form 1040. And what are you comparing it to? Line 35a on your 2024 Form 1040? If line 35a on your 2025 tax return is significantly lower than line 35a on your 2024 tax return, compare the two 1040 forms line by line to see where the significant differences are.
a month ago
Your are mainly concerned about your self-employment income, as you will have tax withheld from your salary wages. You can use the estimated tax tool in TurboTax to get an estimate. You will find tha...
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Your are mainly concerned about your self-employment income, as you will have tax withheld from your salary wages. You can use the estimated tax tool in TurboTax to get an estimate. You will find that in the Other Tax Situations tab, and then Other Tax Forms and then Form W-4 and estimated taxes. You can also look up your marginal tax rate here based on your estimated taxable income and tack on another 15% on your self-employment income for self-employment tax purposes.
a month ago
If you're not itemizing deductions, enter your gambling winnings/losses as @DianeW777 instructed. The loss will show on Schedule A, even if you're taking the Standard Deduction, and the winnings wil...
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If you're not itemizing deductions, enter your gambling winnings/losses as @DianeW777 instructed. The loss will show on Schedule A, even if you're taking the Standard Deduction, and the winnings will be properly reported as income on Schedule 1, Line 8b.
@bt324
a month ago
Please note that several users have already tried all of these steps. INTUIT needs to get the software updated to fix this glitch. Thank you from a very frustrated TurboTax Business desktop user.
a month ago
Thanks for your reply. After I received the email that a decision would be made if I would be approved or not it was rejected I corrected the error and Tt told me that the option of the loan would be...
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Thanks for your reply. After I received the email that a decision would be made if I would be approved or not it was rejected I corrected the error and Tt told me that the option of the loan would be no longer available and it will default to the other disbursed method. Would it have did that?
a month ago
What state are you in? Your state tax return could sit in a pending status for up to 3 weeks, depending on your state - it is normal for time time of year.
a month ago
Just report it on your return.
a month ago
1 Cheer
see the earlier response from TurboTax ""We anticipate the more complex depreciation calculations within the software should be updated after February 13, 2026. These updates should include Special ...
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see the earlier response from TurboTax ""We anticipate the more complex depreciation calculations within the software should be updated after February 13, 2026. These updates should include Special Depreciation carried over from prior years. Our tech team is working hard to release the updates before that date. ""
a month ago
1 Cheer
Since I imagine that interest is likely his only income for 2025, you can disregard it. The amount is well below the amount of income that requires a taxpayer to file a tax return.
a month ago
In years past you were able to select a date that you donated pick the items you donated and it would give you a total. Those lines would show up on tax return so if you donated 5 times you would ha...
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In years past you were able to select a date that you donated pick the items you donated and it would give you a total. Those lines would show up on tax return so if you donated 5 times you would have 5 individual lines on your filling with the dates and amount donated now it looks like you just select an overall total donated for 2025 is there a way to break it out. And submit it by donation?