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4 weeks ago
I've been reading a lot of other posts and turb tax responses -- thought I was getting somewhere with understanding, and have hit a wall. Please help. I bought the car from the dealership in Oct...
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I've been reading a lot of other posts and turb tax responses -- thought I was getting somewhere with understanding, and have hit a wall. Please help. I bought the car from the dealership in October 2016 with only roughly 2k miles on it, and the total miles on the date of sale 11/16/25 was 137,302. In late 2023 I started a yoga business as a sole proprietor. On my 2023 taxes I listed my 2015 Honda Accord Coupe as the vehicle I used occasionally for business, but is mainly for personal use. 2023 - Claimed 357 business miles 2024 - Claimed 6,813 business miles 2025 - Claiming 5,765 business miles = 12,935 business miles for all years / 137,302 total miles for all years = 9.56% overall business use percentage for life of the vehicle. Correct? I sold the vehicle to a private buyer for $2,000 on 11/16/25 Per other question responses, my understanding is that I need to select "Sold, disposed of etc." but then mark the box that says "Converted to 100% personal use". Then shift over to Other Business Situations tab to report the sale. I've done that... but am completely lost and confused at what comes next. When I get to the page of Other Business Situations, it says: Enter the following information for this property sale. If you used the property partly for personal purposes, be sure to compute the amounts of your sales and the property's cost that relate to the business portion only. Description: 2015 Honda Accord Coupe Date Acquired: 10/15/2016 Date Sold: 11/16/2025 Total Sales Price: Would be 9.56% x $2,000 = $191.20 Cost of Property (or Tax Basis) Plus Expenses Sale: ???? Depreciation Taken on This Property: ???? I have no idea how to figure the info for the last two boxes. 😕 Do I need to know the original purchase price of my car in 2016?? Thanks in advance 🙂
4 weeks ago
TIN = Taxpayers Identification Number. You should enter your Social Security number. Hope this helps.
4 weeks ago
Tax returns in pending status for 3 days
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4 weeks ago
HI, I have hsa eligible health insurance plan, conver me and my two children, 12 and 14. I thoght my limit is 8550 for 2025. However, my hsa custodian says my limit is 4300. is it right? I just...
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HI, I have hsa eligible health insurance plan, conver me and my two children, 12 and 14. I thoght my limit is 8550 for 2025. However, my hsa custodian says my limit is 4300. is it right? I just notice when I log into my hsa account. worse worst scenario, if I excess my limit, what step should I take to correct? My hsa is through my work. thanks so much, appreciate any input
4 weeks ago
I'm using both TurboTax Business and Personal to file my taxes and noticed that the first four pages of my Federal return is blank. Pretty sure this is a bug but can't find a way to reach out to Turb...
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I'm using both TurboTax Business and Personal to file my taxes and noticed that the first four pages of my Federal return is blank. Pretty sure this is a bug but can't find a way to reach out to TurboTax about this issue. Anyone else with the same problem? I was able to e-File federal but my State has to be paper filed and requires the first 4 pages of my Federal return which are all showing up as blank pages (whether I print or save to PDF for filing or record, or print specific pages). Now matter how I try (business or personal) the first 4 pages are always blank....
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4 weeks ago
My federal and state refund amounts are showing the same, which is not a good sign. I checked online and called the IRS automated line, and it still show the original amount. I’m planning to call tom...
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My federal and state refund amounts are showing the same, which is not a good sign. I checked online and called the IRS automated line, and it still show the original amount. I’m planning to call tomorrow to speak with an IRS agent just to confirm everything is still on track. This is scary!
4 weeks ago
My Federal and state are the same amount now. I called 1 (800) 829-1040 to check the status and checked online and it shows the original amount! I will be calling tomorrow to speak to an IRS ag...
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My Federal and state are the same amount now. I called 1 (800) 829-1040 to check the status and checked online and it shows the original amount! I will be calling tomorrow to speak to an IRS agent to confirm everything is still the same!
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4 weeks ago
We'll help you fix your return and file again REJECTED
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4 weeks ago
Enter a 1099R under Federal Taxes Wages & Income Then scroll way down to Retirement Plans and Social Security Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start If you are adding ...
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Enter a 1099R under Federal Taxes Wages & Income Then scroll way down to Retirement Plans and Social Security Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start If you are adding another 1099R there might be a Add button at the bottom of the list.
4 weeks ago
The program says the Depreciation and
Amortization schedule will be ready by February, but it doesn't look like it is available yet. Anyone hear anything about when to expect it?
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4 weeks ago
I’m having the same issue. I entered everything and when I checked and double check it shows a different state. Any Idea how to fix it.?
4 weeks ago
No, I'm single, over 65, with a large amount of itemized deductions, so it should not be choosing standard deduction. As the first person posted, theirs was fixed by starting over. That's what I am...
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No, I'm single, over 65, with a large amount of itemized deductions, so it should not be choosing standard deduction. As the first person posted, theirs was fixed by starting over. That's what I am trying to avoid, but it looks like that may be impossible.
4 weeks ago
Thank you for the guidance. I never knew that section was there. However the closest item I could find was Misc Itemized Deductions Wks (I'm using standard deduction) the rest all appeared to be corr...
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Thank you for the guidance. I never knew that section was there. However the closest item I could find was Misc Itemized Deductions Wks (I'm using standard deduction) the rest all appeared to be correct. There were none with the naming conventions mentioned. Thoughts? Thank you again!
4 weeks ago
2 Cheers
DeductIt is free for unlimited donations. It has Web and free Android app available now, with iOS coming soon. It has an inexpensive subscription ($8/year) for advanced features like saving pho...
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DeductIt is free for unlimited donations. It has Web and free Android app available now, with iOS coming soon. It has an inexpensive subscription ($8/year) for advanced features like saving photo receipts with your donations. Suggest importing your ItsDeductible data and trying it out, there isn't any cost to try. https://deductit.io
4 weeks ago
Could be several reasons why it's giving you the Standard Deduction. If you are filing Married filing Separate you have to take the same deduction as your spouse. I saw an answer from an e...
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Could be several reasons why it's giving you the Standard Deduction. If you are filing Married filing Separate you have to take the same deduction as your spouse. I saw an answer from an employee that said something about Turbo Tax will pick the better deduction for you. Like if the Itemized Deductions don't help you then it's better to take the Standard Deduction. So maybe you don't need to take a bigger deduction.
4 weeks ago
where do I enter my 1099-R returns
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4 weeks ago
Employer closed the business unable to get W2 nor EIN. Turbotax wants the number. As of now, I did the Form 4852 and all the steps. Now just that box feels like I need to fix it.
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4 weeks ago
1 Cheer
Same I smell a law suite if this doesn’t get fixed. All this unnecessary emotional stress there putting us through! We should get compensated !
4 weeks ago
Code 7 in box 7. Is that good, bad or simple wrong ?
4 weeks ago
1 Cheer
Yes a conflict between the IRS Pub 550 and TurboTax instructions. I'll assume that the 1099-B you got does not already reflect the disallowed loss. The IRS publications, per at least 1 court decision...
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Yes a conflict between the IRS Pub 550 and TurboTax instructions. I'll assume that the 1099-B you got does not already reflect the disallowed loss. The IRS publications, per at least 1 court decision, have no official standing. However, this situation was different. The PUB said X, but the code said Y. The taxpayers relied on the PUB. The court said in effect, "Too bad."
can't say which of these is best. Either increase the proceeds, or follow Form 8949 instructions, which probably have no more official standing than the PUB:
You have a nondeductible loss other than a loss indicated by code W(wash sale) use code L (column (f) Report the sale or exchange on Form 8949 and enter the amount of the nondeductible loss as a positive number in column (g).