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a month ago
Makes sense - thanks again!
a month ago
The desktop app says I have one error we can't clear or get around with factual information and it's holding up our filing.. I loaded all of the information from my 1099-K, and if I choose "I sold s...
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The desktop app says I have one error we can't clear or get around with factual information and it's holding up our filing.. I loaded all of the information from my 1099-K, and if I choose "I sold some items at a loss", I'm greeted with an itemized sheet with no context. In my case, I received $1527.99 in ticket sales from five events. I sold one for a loss, and received $180. I lost $128. The other four I received a whipping total of $411 in profit. Yet, the Turbo Tax checker says I need to somehow consolidate $1347.99, which is the Boxa number minus the proceeds I received at a loss. How the hell do I do this?! I'm greeted by the Capital Assets Sales Worksheet, which asks for short/long term proceeds, and a Brokerage Statement Study Table....do I have to enter the raw amount I received for the four transactions I profited from, and then how much that represented in profit for each one? I'm not an accountant, and I have purchased TurboTax every year for 15 years to avoid this kind of thing.
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a month ago
@DanaB27 My token number is: 1327168
a month ago
You entered the SSA-1099 in the wrong section of the program. Delete what you entered.
To enter Social Security benefits reported on form SSA-1099
Click on Federal Taxes (Personal using Home...
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You entered the SSA-1099 in the wrong section of the program. Delete what you entered.
To enter Social Security benefits reported on form SSA-1099
Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Scroll down to Retirement Plans and Social Security On Social Security (SSA-1099, RRB-1099), click the start or update button
a month ago
I cant delete a review question?
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a month ago
@dmn1948 Are you filing as Married Filing Separately? If so, you would not be eligible for this deduction.
If your MAGI is to high you would not be eligible for this deduction.
IRS Sched...
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@dmn1948 Are you filing as Married Filing Separately? If so, you would not be eligible for this deduction.
If your MAGI is to high you would not be eligible for this deduction.
IRS Schedule 1-A - https://www.irs.gov/pub/irs-pdf/f1040s1a.pdf
a month ago
Yes, you can use the federal identification number (FEIN). Do not use a dash for the state field.
a month ago
I already have one account that autoadded from last year, when I hit "add another account" and after selecting my bank it just shows me the link to log in, but when I do (after sprouting another tab) ...
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I already have one account that autoadded from last year, when I hit "add another account" and after selecting my bank it just shows me the link to log in, but when I do (after sprouting another tab) nothing happens on the turbotax tab.
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a month ago
You're just focusing on cash basis accounting rules, but that doesn't override tax law that says personal expenses for personal use of a property are never deductible as a business expense. Cash bas...
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You're just focusing on cash basis accounting rules, but that doesn't override tax law that says personal expenses for personal use of a property are never deductible as a business expense. Cash basis accounting tells you which tax year you can deduct an expense, but it never makes personal expenses magically become a deductible business expense. As I cited, IRC § 262(a) prohibits deducting personal expenses ("no deduction shall be allowed for personal, living, or family expenses"), and IRC § 212 which defined what expenses are eligible to be deducted as business expenses. If you have any relevant tax law or authoritative source references for what you're claiming, please cite it.
a month ago
TurboTax keeps saying my state return was rejected but the federal was accepted due to secondary filer's ID being wrong. Turbo Tax wont let me fix it thru them. It seems like it wants me to re-file th...
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TurboTax keeps saying my state return was rejected but the federal was accepted due to secondary filer's ID being wrong. Turbo Tax wont let me fix it thru them. It seems like it wants me to re-file the fed and state in order to re-file.
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a month ago
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a month ago
To enter, edit or delete a form 1099-R -
Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I ...
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To enter, edit or delete a form 1099-R -
Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Scroll down to Retirement Plans and Social Security On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button
a month ago
It is my understanding that the Bonus Deduction (MFJ) is reduced when your MAGI exceeds $ 150K;I cannot get the Tax Free Interest to flow to schedule 1-A to show my reduced amount.
a month ago
Re-entered all information today. Rec'd a call from TT Specialist as scheduled. Was able to talk through the issues. Like many others who are posting on this and other threads, unable to list expe...
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Re-entered all information today. Rec'd a call from TT Specialist as scheduled. Was able to talk through the issues. Like many others who are posting on this and other threads, unable to list expenses for books and materials, Room and Board, Computer Software, Internet, etc. The specialist is going to talk it up with appropriate people and give me a call back next week, likely middle to late week.
a month ago
where do education expense not paid to the school go in my form?
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a month ago
You do not need to report anything about a medical FSA on your tax return. It is not the same type of account as a Health Savings Account (HSA) and is not reported on your tax return.
If you h...
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You do not need to report anything about a medical FSA on your tax return. It is not the same type of account as a Health Savings Account (HSA) and is not reported on your tax return.
If you have a dependent care FSA, then you may see some questions about having money left in the account at the end of the year when you go through the dependent care credit section of your return.
To learn more, take a look at the following TurboTax help article:
What is a Flexible Spending Account (FSA)?
a month ago
See this - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/offer-details-disclosures-refund-advance-program/L4ljXp6TI_US_en_US
a month ago
I press Fed taxes, but not Pension plan distributions and 1099R
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a month ago
This in due to IRS rules for stock valuation. TurboTax uses Treasury Regulation § 20.2031-2, which states that the value of stocks and bonds is the fair market value per share on the valuation date,...
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This in due to IRS rules for stock valuation. TurboTax uses Treasury Regulation § 20.2031-2, which states that the value of stocks and bonds is the fair market value per share on the valuation date, often based on selling prices (comparative sales). Here's more info on Average Price vs. Comparative Sales. @TinkerToyRonnie