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a month ago
1. Home office rules:
Must have a positive income to subtract the expense from - check your sch C, line 31 for a positive number
The space must be exclusive - it sounds like it is for you
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1. Home office rules:
Must have a positive income to subtract the expense from - check your sch C, line 31 for a positive number
The space must be exclusive - it sounds like it is for you
Regular use - it sounds like that is the case for you.
2. Items purchased for resale:
Are considered inventory and are listed under Cost of Goods sold
Cost of Goods sold - select cost and use the cost of the item
You must have records - if you don't have receipts, you should keep a log book or spreadsheet showing the date purchased and the amount paid, The IRS allows you to convert personal items to business items using the lower of what you paid or fair market value.
80% rule is a myth and red flag for an audit.
Qualified Business Income is a 20% deduction. See What's the Qualified Business Income (QBI) deduction?
Caution - be sure you know how to file your business. I don't know if you are an LLC, partnership, in a community property state, etc so I hope you know which forms and how many to file. If not, see Married couples in business.
a month ago
When will retirement income section be ready?
a month ago
1 Cheer
@aviaasus You could try H&R Block Premium and Business as that product does support Kansas K-41. See https://www.hrblock.com/pdf/hrb-software-forms/business-forms.pdf?srsltid=AfmBOoqB1SYDiRto3RKH...
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@aviaasus You could try H&R Block Premium and Business as that product does support Kansas K-41. See https://www.hrblock.com/pdf/hrb-software-forms/business-forms.pdf?srsltid=AfmBOoqB1SYDiRto3RKH2_iBHNlWFA1dLrkJEV99X6dyCp2U5tPQnmvO
a month ago
I was a temporary resident for NY then NJ till I moved to PA where I got my first job in PA at August should I report income tax to the other states or only the state that I had income from which is ...
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I was a temporary resident for NY then NJ till I moved to PA where I got my first job in PA at August should I report income tax to the other states or only the state that I had income from which is PA. And what about part year residency or full year what should I choice became a resident in PA in AUGUST ?
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a month ago
Hi, I accidentally filed the 2025 tax return as a resident (federal and California state tax), but I am a non-resident. How do I amend the changes for both federal and state taxes? Any help would be ...
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Hi, I accidentally filed the 2025 tax return as a resident (federal and California state tax), but I am a non-resident. How do I amend the changes for both federal and state taxes? Any help would be appreciated.
a month ago
5 Cheers
curious if any other tax prep softwares are having the same issue with depreciation? has anyone checked? to Intuit, how do you plan on accomodating your customers for their inconvenience? will you of...
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curious if any other tax prep softwares are having the same issue with depreciation? has anyone checked? to Intuit, how do you plan on accomodating your customers for their inconvenience? will you offer a discount?
a month ago
This would be correct based on how the Indiana code is written. The social security deduction is based on the year you received it, not the year it was for. There is not an exception for payments re...
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This would be correct based on how the Indiana code is written. The social security deduction is based on the year you received it, not the year it was for. There is not an exception for payments received in one year for a prior year. So since you received it in 2025, it would be deducted in 2025.
"This deduction must be reduced by the total amount of any Social Security benefits and railroad retirement benefits received during the taxable year." Income Tax Information Bulletin #26
a month ago
the call from tax expert did not go thru i need to talk to someone else now
a month ago
Yes, You can get Will Builder after you've filed your taxes.
They say you can log back into your account and find it, but people have had limited success doing it.
It would be best to con...
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Yes, You can get Will Builder after you've filed your taxes.
They say you can log back into your account and find it, but people have had limited success doing it.
It would be best to contact TurboTax Customer Service at What's the TurboTax phone number?
a month ago
were you able to figure it out?
a month ago
my call from the tax expert did not go trough i need to talk to someone now
a month ago
Yes it does!
a month ago
@Opus 17 wrote: So the idea that ML is not missing due to a bug but will be listed when the forms are available is not consistent with other past or current year behavior. OK, I am not claimin...
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@Opus 17 wrote: So the idea that ML is not missing due to a bug but will be listed when the forms are available is not consistent with other past or current year behavior. OK, I am not claiming it's a "bug". If that were the case, then there are a LOT of bugs since TurboTax does not list, for example, Acorns, but H&R Block does list Acorns AND neither lists Merrill Edge, plus both are still missing quite a few firms. Either a lot of firms aren't "participating" or they're just not ready for inclusion.
a month ago
That would likely by on a Form 1099-R that references the pension. You can delete it as follows:
1. Choose the Tax Tools option on your left menu bar while working on your return
2. Choose To...
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That would likely by on a Form 1099-R that references the pension. You can delete it as follows:
1. Choose the Tax Tools option on your left menu bar while working on your return
2. Choose Tools
3. Choose the Delete a form option under Other Helpful links
4. Find the Form 1099-R in the list and delete it
a month ago
I was a resident in PA in 2024 I traveled outside US and I am back in MA DEC 2025 now should I file part year residency for Ma or what should I do ? as a summary during 2025 most of the yea...
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I was a resident in PA in 2024 I traveled outside US and I am back in MA DEC 2025 now should I file part year residency for Ma or what should I do ? as a summary during 2025 most of the year I was outside USA came back on DEC 2025 different state
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a month ago
I am using the desktop version WinPerrelease. The return was rejected. I fixed the error. After I fixed the error, I tried to submit it again. When I click on the transmission, it acts like it is sen...
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I am using the desktop version WinPerrelease. The return was rejected. I fixed the error. After I fixed the error, I tried to submit it again. When I click on the transmission, it acts like it is sending it. It doesnt send it. All it does is close the program and start thenprogram back up.
a month ago
FYI, I just received confirmation that the IRS has accepted my return.
a month ago
How do I calculate IRD when the value of the IRA on date of death was greater than the value of the IRA transferred to the estate? Do I still use the full value of the IRA as of date of death? Or do ...
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How do I calculate IRD when the value of the IRA on date of death was greater than the value of the IRA transferred to the estate? Do I still use the full value of the IRA as of date of death? Or do I use the difference between the value at date of death and the value at time of distribution to the Estate? (Decedent was age 50 and died on 12/25/2024. IRA was valued approx. $32,000 more on date of death than the amount it was valued in 2025 at time of distribution to the Estate.) My concern is that when I use the full value of the IRA as of date of death, all taxes paid by the Estate are refunded. I do not want the "beneficiaries" to be responsible for the payment of the taxes. (She was not married, had no children, did not have a will and there were no beneficiaries named for the IRA. Based on a prior question/answer about beneficiaries, I have named 3 individuals as "beneficiaries" because they received some of the monies from the Estate after all taxes and debts were paid first)
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a month ago
Generally, if you had distributions from your HSA that were for qualified medical expenses and the program is telling you your withdrawal is taxable, it is likely because of how you answered the ques...
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Generally, if you had distributions from your HSA that were for qualified medical expenses and the program is telling you your withdrawal is taxable, it is likely because of how you answered the questions regarding how the funds were used or the amount of the funds that were used for qualified medical expenses.
Go back through and double check your answers to be sure that you told it that you DID use the funds for qualified medical expenses and that you entered the amount that you used for those expenses properly.
a month ago
@Opus 17 wrote: 1. My ML 1099 is online now. I know a number of clients with Merrill accounts (Edge) and none of their 1099-Bs are online currently. I believe this is typical procedure for a nu...
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@Opus 17 wrote: 1. My ML 1099 is online now. I know a number of clients with Merrill accounts (Edge) and none of their 1099-Bs are online currently. I believe this is typical procedure for a number of brokerage firms; the more complicated statements are simply released at later dates than otherwise (e.g., probably a lot of transactions, wash sales, basis unknown sales, etc.). Before any firm can generate a 1099-B, they need to receive reporting from mutual funds (if those are in the portfolio) and a lot of them have a tendency to drag their collective feet. On a personal note, my daughter has two Edge account numbers. She received the 1099-B for one of the accounts a couple of days ago but has not received the 1099-B for the other account.