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4 weeks ago
We are hoping by this weekend, if not before. We don't have a specific date.
4 weeks ago
I’ve been unable to file my NYS return after being rejected 2x. This seems like an error with TurboTax software and I’ve seen that there was supposed to be a patch today 2/12. I’ve been unable to do ...
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I’ve been unable to file my NYS return after being rejected 2x. This seems like an error with TurboTax software and I’ve seen that there was supposed to be a patch today 2/12. I’ve been unable to do anything up to this point. I cannot even try to refile to see if they’ll accept now. I get looped in an endless cycle of “fix my return now” and then I go around and around. I can’t even print now. I spent over an hour and a half on the phone with support and they told me to wait until I got my federal return. Which I’ve done. It made no difference thus far. I’m very frustrated
4 weeks ago
Where this becomes a problem is with dual-use products. Adult diapers can only really be used to manage incontinence, so they would be allowed as a medical deduction. However, something like baby w...
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Where this becomes a problem is with dual-use products. Adult diapers can only really be used to manage incontinence, so they would be allowed as a medical deduction. However, something like baby wipes have multiple uses, many of which would not be deductible (like cleaning babies, or when camping). If you use baby wipes to help clean an incontinent adult, you would need to include them in a written treatment plan from a doctor that describes the medical needs for the items.
(I'm not sure this is written down anywhere in that exact language. That is my own interpretation based on how the rules are written, and how the rules differ between medical expenses that are tax deductible and medical expenses that are eligible for HSA or FSA reimbursement -- which used to be the same but have been changed recently so that there are certain items eligible for HSA and FSA reimbursement without a doctor's note but are not eligible for a tax deduction unless you have a doctor's note.)
4 weeks ago
There are no logs - the company is bankrupt and records are not available. Best I have is a screenshot showing my account total when they went bankrupt. I had GSUD converted to BTC with not input ...
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There are no logs - the company is bankrupt and records are not available. Best I have is a screenshot showing my account total when they went bankrupt. I had GSUD converted to BTC with not input from me as a function of the bankruptcy. In this case there is no way to track the transactions even through Koinly etc hence there is no evidence of any kind of cost basis. The mere fact I'm receiving celsius-related funds is the best proof I have that I'm just recovering my own money (i.e. this is not a gain). Practically, I'm not sure that mailing a physical copy 1099 (as turbotax demands) will do anything clarify any of this for the IRS, when I myself have spent days try to figure out the situation. A few hundred thousand people are dealing with this same situation.
4 weeks ago
Here's some info on Schwab Import Issues. If you can share what you're seeing when when you try to import, we'll try to help.
@vendrov
4 weeks ago
Yes, you will need a prescription from a physician in order to deduct incontinence products used in a nursing home.
"You can't include in medical expenses the amount you pay for diapers or diap...
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Yes, you will need a prescription from a physician in order to deduct incontinence products used in a nursing home.
"You can't include in medical expenses the amount you pay for diapers or diaper services, unless they are needed to relieve the effects of a particular disease." (Pg. 15)
"...you can't include in medical expenses amounts you pay for a drug that isn't prescribed. A prescribed drug is one that requires a prescription by a doctor for its use by an individual." (Pg. 16)
For Medicaid to cover the costs of these products in a facility, they often require a prescription, a diagnosis, or a Letter of Medical Necessity (LMN) from a doctor.
IRS Pub. 502 - Medical and Dental Expenses
4 weeks ago
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4 weeks ago
When researching possible ways to answer that question, I've seen others state to use "None" instead of "Family" since this question appears to apply to the person who is paying for the HDCP coverage...
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When researching possible ways to answer that question, I've seen others state to use "None" instead of "Family" since this question appears to apply to the person who is paying for the HDCP coverage. So it seems like Jan-Sep would be self for me and None for Oct-Dec since I no longer had my own HDPCP plan. Then under my wife's details she would use Self for Jan-Sep and Family for Oct-2025. The wording on this series of questions is a bit too generic which I was a I needed a TurboTax person to help with the appropriate answer.
4 weeks ago
Using TurboTax Home & Business. Merrill accounts not showing on import list.
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4 weeks ago
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4 weeks ago
What am I supposed to do if it just loops me in circles endlessly? I can’t even submit to refile no matter what I do. I was on the phone with support for over an hour and a half last week and they to...
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What am I supposed to do if it just loops me in circles endlessly? I can’t even submit to refile no matter what I do. I was on the phone with support for over an hour and a half last week and they told me to wait until I got my federal refund. Which I’ve done. But I can’t print or do anything. I’m just stuck in a loop and it’s very frustrating.
4 weeks ago
Yes. If you already filed your return and did not take a deduction for the No Tax on Tips deduction, you will be able to amend your return when the amendment process opens. When you do this, you w...
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Yes. If you already filed your return and did not take a deduction for the No Tax on Tips deduction, you will be able to amend your return when the amendment process opens. When you do this, you will be able to add in the tip deduction. Do not make any changes until you are able to hit the amend button. Once you hit that button, everything will reset to $0 and then you can go back to the W-2 section to adjust the tips reported. You will do this by clicking past your W-2 and then selecting tips in the Other Situations section right after the W-2 entries.
In order to claim tips, the following must apply:
The tips MUST be reported. If they are not reported on a form to the IRS you cannot claim them for the no tax on tips deduction.
If employed they need to be reported on your W-2 or form 4137
If self-employed, they must be reported on a 1099. If you received them as cash, they are not deductible.
Your income must be below $150,000 if you are single or less than $300,000 if Married Filing Jointly. Above these amounts, the deduction starts to fade out and is not available at all for those with income over $400,000 for single and $550,000 for Married Filing Jointly.
You can not claim this deduction if you are Married Filing Separately
You receive tips from an occupation that normally and customarily receives tips
Self-employed, deduction may not exceed individual’s net income, without regard to this deduction, from the trade or business in which the tips were earned.
If all of the above apply, TurboTax will generate a Schedule 1-A for your return. This amount will be deducted from your AGI. Remember, this is a deduction NOT a credit. This means it will lower your taxable income, which can lower your tax liability. You will NOT see a refund in the amount of the Tips you enter. Tips are reported on Schedule 1-a, Part II with the total amount you are qualified for reported on line 13 of Schedule 1-A.
If you are getting the deduction and have income left to reduce, you will see the change to your income on line 11a of your form 1040. If your AGI is lower than your tip deduction, your benefit from the deduction will be limited to your AGI before the deduction.
No Tax on Tips: How It Works in the One Big Beautiful Bill
4 weeks ago
1 Cheer
Attaching an explanation is difficult in efiled returns and is often more successful when the return is submitted by mail. That may be your best option here.
4 weeks ago
where do i find the question section about my roth 1099r
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4 weeks ago
They spent over 3.5 million dollars to congress and over 1 million dollars to Trump's inauguration. Biden implended direct file, which allowed people to file for free. Trump, once in office, get rid o...
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They spent over 3.5 million dollars to congress and over 1 million dollars to Trump's inauguration. Biden implended direct file, which allowed people to file for free. Trump, once in office, get rid of the direct file, forcing Americans deal with the confusing process and allowing Turbotax to profit off of peoples confusion.
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4 weeks ago
The best way to see the status of your refund at the IRS 'Where's My Refund?' link. Here's more info:
Timing: The "5 days early" is based on when the IRS actually releases the funds to bank...
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The best way to see the status of your refund at the IRS 'Where's My Refund?' link. Here's more info:
Timing: The "5 days early" is based on when the IRS actually releases the funds to banks, not 5 days from when you file.
Requirements: You must use a qualifying bank account for direct deposit
Fees: A fee applies, but it is waived if the refund does not arrive at least 1 day before the expected IRS date.
Limitations: If you took a Refund Advance or the IRS delays your return, this service may not apply.
Some reasons for delays include:
Path Act: If you claimed the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC), the IRS cannot release your refund until mid-February.
Bank Policies: Some banks may not allow for same-day processing, which can affect the speed of the deposit.
Incorrect Info: Errors on your tax return can lead to processing delays by the IRS.
@user17707808749
4 weeks ago
1. No, you don't make up your own form but you do provide the proof.
The 1099-DA is new for 2025 and the way basis is calculated was changed Jan 1, 2025 to be accounted for by wallet or account ...
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1. No, you don't make up your own form but you do provide the proof.
The 1099-DA is new for 2025 and the way basis is calculated was changed Jan 1, 2025 to be accounted for by wallet or account only. Prior to that date, the IRS did require that you keep a spreadsheet of your investments with your date purchased, sold, basis, gain, loss and any other information to do your taxes.
Starting in 2026, the 1099-DA will contain basis for you. Although, it is still a good idea to keep track of your investments due to odd things that can happen. You do need to determine your basis and have proof. Otherwise, the IRS deems your basis to be zero.
Let's work on the basis you need for this year.
If a transaction says covered - the issuer does know the basis and it may be reported on your form.
Noncovered -you are responsible for the basis and can determine it by: reviewing transactions, using a blockchain explorer to trace wallet address back to date of acquisition and crypto tax software can help match transfers.
create a log to use with your return and either upload or mail to the IRS. Again, basis of zero for things not found.
2. It depends: If both of these are true, you do not need to mail the form along with your log:
Check your form 8949 for exception 2 or code M if you summarized transactions on your return rather than listing all of them
you uploaded a .pdf of your transaction log to attach to your return.
Otherwise, you need to mail a copy of your 1099-DA and supporting paperwork (your log) with the form 8453 within 3 days of your return being accepted.
4 weeks ago
I opened an account with a company that trades Forex with AI for me. I registered it under my (single member) LLC and it had a startup fee. 1) Is the startup/consulting fee that was asked to work w...
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I opened an account with a company that trades Forex with AI for me. I registered it under my (single member) LLC and it had a startup fee. 1) Is the startup/consulting fee that was asked to work with that company a deduction and where do i enter it? 2) For income and losses, for section988, can I take my profits minus my loses and put that number or do they have to be entered separately? and 3) Where do I add the Forex income in the Turbotax home and business Windows desktop edition? Under Business Income>Other Income? or elsewhere? since the securities company is offshore, they don't give a 1099 or tax documents. 4) The securities trading company where my funds are is held offshore, does Turbotax has the fill-able form 8938 (FATCA) forms in it?
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4 weeks ago
Did you e-file your tax return and was it accepted? Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.
You complete your tax return by finish...
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Did you e-file your tax return and was it accepted? Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.
You complete your tax return by finishing all 3 Steps in the File section. In Step 3, to e-file your tax return, you must click on the large button labeled "Transmit my returns now".
After completing the File section and e-filing your tax return you will receive two emails from TurboTax. The first email when your tax return was transmitted and the second email when the tax return has either been accepted or rejected.
Note - Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund. Only the taxpayer listed on the tax return can obtain the status of a tax refund or a tax return.
To check the status of an e-filed return, open up your desktop product or log into your TurboTax Online Account. You can find your status within the TurboTax product. If accepted by the IRS use the federal tax refund website to check the refund status - https://www.irs.gov/refunds
If accepted by the state use this TurboTax support FAQ to check the state tax refund status - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...
After the tax return has been Accepted by the IRS (meaning only that they received the return) it will be in the Processing mode until the tax refund has been Approved and then an Issue Date will be available on the IRS website.