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4 weeks ago
You cannot change or add anything on the return that you just e-filed, nor can you stop it. It is too late, just like when you put an envelope in a US mailbox on the corner. The IRS does not allow ...
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You cannot change or add anything on the return that you just e-filed, nor can you stop it. It is too late, just like when you put an envelope in a US mailbox on the corner. The IRS does not allow you to take it back.
If you left out a W-2, a 1099G, or a dependent, or a 1099 etc…DO NOT change your return while it is “pending.” The changes will go nowhere.
Now you have to wait until the IRS either rejects or accepts your return. If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.
If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund. THEN you can prepare an amended tax return and e-file or mail it in. You have to be able to work from that return exactly the way it was when it was e-filed originally. You will need to use a form called a 1040X.
Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself. Sit tight and wait until you see what the IRS does with the return you just e-filed
The Form 1040X you need becomes available in late February, But wait until your return has been processed.
4 weeks ago
Topics:
4 weeks ago
You cannot change or add anything on the return that you just e-filed, nor can you stop it. It is too late, just like when you put an envelope in a US mailbox on the corner. The IRS does not allow ...
See more...
You cannot change or add anything on the return that you just e-filed, nor can you stop it. It is too late, just like when you put an envelope in a US mailbox on the corner. The IRS does not allow you to take it back.
If you left out a W-2, a 1099G, or a dependent, or a 1099 etc…DO NOT change your return while it is “pending.” The changes will go nowhere.
Now you have to wait until the IRS either rejects or accepts your return. If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.
If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund. THEN you can prepare an amended tax return and e-file or mail it in. You have to be able to work from that return exactly the way it was when it was e-filed originally. You will need to use a form called a 1040X.
Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself. Sit tight and wait until you see what the IRS does with the return you just e-filed
The Form 1040X you need becomes available in late February, But wait until your return has been processed.
4 weeks ago
It’s been longer than 48 hours now. (11:10 pm on 2/4 it’s been about 56 hours)
What could I have done wrong or is this normal???
Topics:
4 weeks ago
@nakeial-raney For the sates that do not have an income tax, you leave the state-related boxes entirely EMPTY. So on a W-2, you make boxes 15, 16 &17 entirely empty in the tax software. no num...
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@nakeial-raney For the sates that do not have an income tax, you leave the state-related boxes entirely EMPTY. So on a W-2, you make boxes 15, 16 &17 entirely empty in the tax software. no numbers..no zeros....empty/blank
4 weeks ago
(I am self-employed)
Topics:
4 weeks ago
When you print your returns for filing by mail they will print out with a page of filing instructions with the addresses you need for federal and state.
https://www.irs.gov/filing/where-to-file...
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When you print your returns for filing by mail they will print out with a page of filing instructions with the addresses you need for federal and state.
https://www.irs.gov/filing/where-to-file-paper-tax-returns-with-or-without-a-payment
https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0
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.
4 weeks ago
Here's the applicable guidance for a self-employed rideshare driver:
Examples of industry-specific expenses for common self-employed professions.
Driver
As an Uber, Lyft, or other self-emp...
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Here's the applicable guidance for a self-employed rideshare driver:
Examples of industry-specific expenses for common self-employed professions.
Driver
As an Uber, Lyft, or other self-employed driver, you can deduct these work-related expenses in addition to the ones listed in the common expenses section:
Business use portion of mobile phones, data plans, and mobile phone accessories (chargers, cradles, and mounts)
Vehicle expenses or standard mileage
Car wash, cleaning, and detailing
Licenses, permits, and emissions testing
Customer refreshments (bottled water, mints, snacks, and gum)
Commissions paid or deducted from income (Uber and Lyft split fare)
Miscellaneous fees (tolls, parking, roadside assistance, city and airport fees, etc.)
These out-of-pocket expenses will offset (reduce) your earnings, lowering the amount of income you pay taxes on.
As for the car itself, you can deduct fuel, maintenance, repairs, auto insurance, registration, lease payments, and depreciation. Many drivers opt to do this through the Standard Mileage Rate (70 cents per mile beginning January 1, 2025), because it's much simpler. However, you can deduct each expense individually with the alternative Actual Expenses method. Both methods require you to keep track of your business and personal miles.
Here are more resources:
How to enter your Lyft tax information
How to enter your Uber driving expenses
TurboTax - What self-employed expenses can I deduct?
4 weeks ago
@evanodrew The 17,750 is correct, the extra is not included in the Std Ded amount itself. BUT The extra $6,000(single)/12,000(MFJ) for you does not show as part of the Std Ded on line 12e ...
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@evanodrew The 17,750 is correct, the extra is not included in the Std Ded amount itself. BUT The extra $6,000(single)/12,000(MFJ) for you does not show as part of the Std Ded on line 12e ......it is on an entirely separate line...as part, or all of line 13b on the form 1040 (a couple other things can add into line 13b) And it phases out if your MFJ AGI exceeds $150,000 (or over 75,000 if filing Single) And it isn't allowed at all if you are Married and filing separately, MFS
4 weeks ago
I received a 1099-K from Square with tips showing and entered them correctly. While I see them partially flowing through to the Qualified Tips Smart Worksheet for Schedule 1-A, Part II but this works...
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I received a 1099-K from Square with tips showing and entered them correctly. While I see them partially flowing through to the Qualified Tips Smart Worksheet for Schedule 1-A, Part II but this worksheet has a box on line G that is checked indicating that the deduction is limited to net profit and shows 0.00 as the deduction. My net profit is well about the tip amount so that makes no sense. I do not trigger the earnings threshold. Also clicking into this worksheet takes me to another worksheet for tips (Schedule 1-A, Additional Deductions) which is blank. Is there an issue with 1099-K tips flowing through?
4 weeks ago
The Trump account question comes up in the final File section.
It shows up after entering direct deposit information and reviewing filing choices.
It is triggered by claiming
A depen...
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The Trump account question comes up in the final File section.
It shows up after entering direct deposit information and reviewing filing choices.
It is triggered by claiming
A dependent under 18
With a valid SSN,
Typically for children born between 2025 and 2028.
If you've filed your taxes, you can't go back and change them, but there's a website under construction that you can go to:
Trump Accounts jumpstart
You can request updates from this site.
4 weeks ago
If your refund is enough to cover TurboTax fees (plus the $40 processing fee), you may have a certain form in your return that doesn't allow the Pay With Refund option.
You can find additional ...
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If your refund is enough to cover TurboTax fees (plus the $40 processing fee), you may have a certain form in your return that doesn't allow the Pay With Refund option.
You can find additional qualifications needed to Pay-by-Refund here:
Can I pay with my refund?
4 weeks ago
We anticipate the depreciation calculations within the software should be updated after February 13, 2026. Our tech team is working hard to release the updates before that date.
Please be awar...
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We anticipate the depreciation calculations within the software should be updated after February 13, 2026. Our tech team is working hard to release the updates before that date.
Please be aware that this update will affect depreciation for Schedule E (Rental Properties) only. Schedule C (Self-Employment) was updated previously and should be working in all versions of TurboTax.
4 weeks ago
shows state abbreviation not a number. Is that acceptable?
4 weeks ago
Topics:
4 weeks ago
CAR LOAN INTEREST
Go to Federal>Deductions and Credits>Cars and Other Things You Own>Car Loan Interest
The amount will go on Schedule 1a and end up on Form 1040 on line 13b
4 weeks ago
Online Deluxe is not free. Online Deluxe is a paid version. And there is a separate fee to prepare a state return.
4 weeks ago
You will need to wait until the updates are released to be sure your depreciation calculations conform to the new IRS rules. Manual entries will not circumvent the form hold for depreciation. These a...
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You will need to wait until the updates are released to be sure your depreciation calculations conform to the new IRS rules. Manual entries will not circumvent the form hold for depreciation. These are IRS constraints. Please be reassured that our development team is working hard to release these updates as soon as possible.
4 weeks ago
No. The lenders title policy would be part of the bank/ finance charge and cannot be added to the property cost basis. Any costs that are related to financing are not added. The CPL Lender fee als...
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No. The lenders title policy would be part of the bank/ finance charge and cannot be added to the property cost basis. Any costs that are related to financing are not added. The CPL Lender fee also cannot be deducted.
Basically, if the fee would NOT be on there if you didn't have a loan on the home, it cannot be deducted.
Fees that can be added to the cost basis are:
Abstract fees (abstract of title fees).
Charges for installing utility services.
Legal fees (including title search and preparation of the sales contract and deed).
Recording fees.
Surveys.
Transfer taxes.
Owner's title insurance.
Any amounts the seller owes that you agree to pay, such as back taxes or interest, recording or mortgage fees, charges for improvements or repairs, and sales commissions
4 weeks ago
@mariettaga01 It as not a Credit...its an income deduction. __________________ The extra $6,000(single)/12,000(MFJ) for you does not show as part of the Std Ded on line 12e ......it is on ...
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@mariettaga01 It as not a Credit...its an income deduction. __________________ The extra $6,000(single)/12,000(MFJ) for you does not show as part of the Std Ded on line 12e ......it is on an entirely separate line...as part, or all of line 13b on the form 1040 (a couple other things can add into line 13b) And it phases out if your MFJ AGI exceeds $150,000 (or over 75,000 if filing Single) And it isn't allowed at all if you are Married and filing separately, MFS