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a month ago
You can save your .tax file from your MAC for 2024 to a flash drive without opening the program and then transfer the file to the new PC using the flash drive. Once you do this, you will be able to ...
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You can save your .tax file from your MAC for 2024 to a flash drive without opening the program and then transfer the file to the new PC using the flash drive. Once you do this, you will be able to import the file into your 2025 return.
a month ago
Yes. You may get this credit depending on how your salary reduction plan works and if you had any child care costs that you paid yourself.
Some requirements detailed in the IRS guideline:
You...
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Yes. You may get this credit depending on how your salary reduction plan works and if you had any child care costs that you paid yourself.
Some requirements detailed in the IRS guideline:
You have earned income from your job.
Pay for the care specifically so you can work or look for work.
Have a child under age 13 (or any age if a disabled dependent).
To see more detailed information, open the link below:
Child and Dependent Care Credit information
a month ago
Topics:
a month ago
Keep in mind the IRS safe harbor rule for operating a business within the IRS. The IRS uses this "Safe Harbor" rule to help decide if your activity counts as a real business or just a hobby.
Th...
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Keep in mind the IRS safe harbor rule for operating a business within the IRS. The IRS uses this "Safe Harbor" rule to help decide if your activity counts as a real business or just a hobby.
The IRS presumes you are operating a business for profit if you have reported a net profit in at least 3 of the last 5 consecutive years (including the current year).
If you meet this: The burden of proof shifts to the IRS. They have to prove you aren't a business if they want to disallow your deductions.
If you don't meet this: The burden of proof is on you. You must prove you have a "profit motive" despite the losses.
In your case, you may declare losses for 2025 and 2026 tax years. For the remaining three years after 2026, you must show a profit above your losses to be declared a viable business. If you don't show a profit after 2026, your business is declared a "hobby" thus you still need to declare your income but will not be able to claim losses to offset the income.
a month ago
@rbrtwnr2153 WOW...STILL A PROBLEM ??? They really need to get that fixed...reported seem ~6 weeks ago Check the workaround from @CatinaT1 Re: Can I enter an expiration date for your ...
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@rbrtwnr2153 WOW...STILL A PROBLEM ??? They really need to get that fixed...reported seem ~6 weeks ago Check the workaround from @CatinaT1 Re: Can I enter an expiration date for your credit card that is 09 (September) or higher?
a month ago
[PII removed]
Topics:
a month ago
I am aware that K-1 Part III. Line 13 K. EBIE triggers the need to file Form 8990 for a limited partner in a PTP. Are there other codes , particularly Line 20 which also are entered in/or trigger F...
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I am aware that K-1 Part III. Line 13 K. EBIE triggers the need to file Form 8990 for a limited partner in a PTP. Are there other codes , particularly Line 20 which also are entered in/or trigger Form 8990? Thanks, Gary
a month ago
Wow, this worked! Thank you so much. I was dreading using Desktop again this year. Is this the first year Online has allowed for this? Thanks again
a month ago
I am trying to file my llc return without expert assist, but it keeps pushing me to expert assist. How do I file without expert assist? It pushed me to expert assist last year and cost me a fortune ...
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I am trying to file my llc return without expert assist, but it keeps pushing me to expert assist. How do I file without expert assist? It pushed me to expert assist last year and cost me a fortune for our two llc's. Will be switching to TaxAct if I cannot file without expert assist.
a month ago
1 Cheer
#2. Since your excess contribution was cured in a timely fashion for 2024, then you should answer the question "Did you overfund your HSA last year?" with NO. This is because what TurboTax really wan...
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#2. Since your excess contribution was cured in a timely fashion for 2024, then you should answer the question "Did you overfund your HSA last year?" with NO. This is because what TurboTax really wants to know is did you carry over any excess to this year.
#3. No, there is no way to link the 1099-SA to an excess, but there is no need to.
#1. I do not know why TurboTax is triggering the excess this year. If you had no 5329 in 2024, then nothing was carried over to 2025, except in the unusual situation that the CarryOver Worksheet mistakenly carried over an entry. If you have the TurboTax Desktop product, you can see the Carryover Worksheet by going to Forms (upper right), then scrolling down on the left until you see Carryovr Wks.
"However, the 2025 software is now showing this amount as an excess carryover." - How is TurboTax doing this? Where does it say that this amount is an "excess carryover"? I can believe "excess" and I can believe "carryover", but "excess carryover"?
Anyway, go back and answer the overfunding question with a NO, and see if that helps. It might not because the amount withdrawn from your previous pass might still be there, which means you will have to do an HSA Reset (see below) to clear this stuck number.
P.S., thank you for the clear and detailed presentation of your situation.
HSA RESET
***Reset***
1. make a copy of your W-2(s) (if you don't have the paper copies)
2. delete your W-2(s) (use the garbage can icon next to the W-2(s) on the Income screen)
*** Desktop/Windows***
3. Go to the upper right and click on Forms, and
4. Select the desired form (1099-SA (if one), 8889-T, and 8889-S (if one)). Note the Delete Form button at the bottom of the form’s screen.
*** Desktop/Mac***
3. Switch to Forms Mode by selecting the Forms icon.
4. From the menu, select the form (1099-SA (if one), 8889-T, and 8889-S (if one)) you want to remove (if you don't see it, select Open Form at the top). From the Forms menu, select Remove [form name].
*** Online ***
3. go to Tax Tools (on the left), and navigate to Tools->Delete a form
4. delete form(s) 1099-SA (if one), 8889-T, and 8889-S (if one)
5. go back and re-add your W-2(s), preferably adding them manually
6. go back and redo the entire HSA interview....
a month ago
I RECEIVED A LETTER FROM THE IRS/STATE
TurboTax does not receive any information from the IRS or your state after your return was filed, so no one at TurboTax knows about a letter you recei...
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I RECEIVED A LETTER FROM THE IRS/STATE
TurboTax does not receive any information from the IRS or your state after your return was filed, so no one at TurboTax knows about a letter you received from the IRS or the state.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-audit/turbotax-audit-support/L6AcMoNFD_US_en_US?uid=m5z7by9u
https://intuit.taxaudit.com/audit-defense/help/contact
https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/got-cp2000-notice-irs/L7Da6em2t_US_en_US?uid=m4of6ngd
a month ago
Trying to add this to my last "reply" but edit isn't working. I should at least be able to take off the meals and travel as expenses to do the 2025 pro bono production shouldn't I?
a month ago
Can someone interpret the letter for me?
Topics:
a month ago
If you have not been able to solve the situation with your HSA contributions using the suggestions provided, it would be useful to have a diagnostic copy of your tax data file experiencing the proble...
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If you have not been able to solve the situation with your HSA contributions using the suggestions provided, it would be useful to have a diagnostic copy of your tax data file experiencing the problem so that it could be submitted to the development team for further investigation and possible updates.
The diagnostic file will not contain personally identifiable information, only numbers related to your tax forms.
To provide the diagnostic file, follow the instructions below and post the token number along with which version of TurboTax you are using in a follow-up thread.
Use these steps if you are using TurboTax Online:
Sign in to your account and be sure you are in your tax return.
Select Tax Tools in the menu to the left.
Select Tools.
Select Share my file with agent.
A pop-up message will appear, select OK to send the sanitized diagnostic copy to us.
Post the token number here.
If you are using a CD/downloaded version of TurboTax, use these steps:
Select Online at the top of the screen.
Select Send Tax File to Agent.
Click OK.
Post the token number here.
If you are using a Mac version of TurboTax, use these steps:
Go to the Menu at the top of the screen and select Help.
Then, Send Tax File to Agent.
Post the token number here.
@kyleblankie
a month ago
1 Cheer
Done all that. The error is the handshake between TurboTax and the California Franchise Tax board. Intuit needs to fix it.
a month ago
@mel200521 Are you sure you a e supposed to enter the rest of the numbers? A bunch of other NY filers say it needs to be ONLY the first three characters after the IDUSA...and not the whole n...
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@mel200521 Are you sure you a e supposed to enter the rest of the numbers? A bunch of other NY filers say it needs to be ONLY the first three characters after the IDUSA...and not the whole number.
a month ago
1 Cheer
Yes, you do need to report the sale of the vehicle. You do need to report the depreciation also. You need to multiply a depreciation equivalence factor by the business miles claimed each year, and to...
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Yes, you do need to report the sale of the vehicle. You do need to report the depreciation also. You need to multiply a depreciation equivalence factor by the business miles claimed each year, and total those up. The factor for 2025 is $0.33 and $0.30 for 2024. You can find the table in IRS Pub 463.
The original cost or basis is what you paid for the vehicle. The sale price is what you sold the vehicle for. You will be asked in the program for the business and personal mileage during the year and the date the vehicle was disposed of. TurboTax will use that information to determine the gain or loss on sale.
You can read more in this Intuit article.
a month ago
Since I did not submit any forms to the IRS for him (Form 941) for 2025, would it be more pertinent to report the income on his end as self employment income, then for 2026 switch him to employee (W2)?
a month ago
You may be referring to the share of income taxes paid on your behalf by a flow-through entity such as an S-corp. Is this is the case?
If so, in TurboTax, in the Michigan state income tax retu...
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You may be referring to the share of income taxes paid on your behalf by a flow-through entity such as an S-corp. Is this is the case?
If so, in TurboTax, in the Michigan state income tax return, at the screen Income Tax Paid by Entities, enter the income taxes paid on your behalf.
The entry is reported on Michigan Schedule 1 Additions and Subtractions.
@jpaulc1985
a month ago
Your 1040X was blank because nothing changed.
You aren't required to file an amended return to submit a missing or corrected Form 8606. You can file it alone by mailing it directly to the IRS. ...
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Your 1040X was blank because nothing changed.
You aren't required to file an amended return to submit a missing or corrected Form 8606. You can file it alone by mailing it directly to the IRS.
If you receive a letter, it'll have instructions.