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a month ago
.... or are there some things I must decide before working through the questionnaire?
a month ago
1 Cheer
If you are using the TurboTax online editions, when you are accessing Deductions & Credits, click on All tax breaks to open up the section.
To enter New Car Loan Interest -
Click on Federal T...
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If you are using the TurboTax online editions, when you are accessing Deductions & Credits, click on All tax breaks to open up the section.
To enter New Car Loan Interest -
Click on Federal Taxes (Personal using Home & Business) Click on Deductions and Credits Click on I'll choose what I work on (if shown) Scroll down to Cars and Other Things You Own On Car Loan Interest, click on the start or update button
a month ago
Thank you, this verifies what I thought - he was enrolled for five months even though he was able to only attend four months.
a month ago
Right, I created two separate returns - each including only the income/expenses etc for one of us. As per the response to my question in another discussion thread, I was advised to: - create two se...
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Right, I created two separate returns - each including only the income/expenses etc for one of us. As per the response to my question in another discussion thread, I was advised to: - create two separate returns (as I'm already doing) - enter ALL (both spouses) income and expenses in BOTH returns, but split the amounts in half (50:50 since CA is a community property state) - leave any SS or Medicare amounts (W2 forms) alone, those are NOT supposed to be split - fill form 8958 to show how I've allocated the income across both returns That way I can attest that TT is doing the right tax calculations. I was worried that the various amounts in the returns won't match the 1099 amounts, but this seems to be the only possible way to arrive at correct tax calculations while also splitting income, expenses etc 50:50 to satisfy CA tax code. One more question: I have a rental property which generated income. I'll be splitting that income and the related expenses 50:50 to both returns and that follows the above logic, no problem. The only aberration concerns handling the depreciation of that unit. Since I've acquired it before marriage, my understanding is that the depreciation "follows the property and affects its basis when sold", therefore the depreciation must NOT be split between both reports (so, it is 100% applied to my report). If somebody could confirm this approach, I'd appreciate that very much. Thanks!
a month ago
I don't know what I'm supposed to be putting here
a month ago
So my sister since responsible one ?
a month ago
Thank you very much, you were much more helpful than Turbo Tax!!!
a month ago
That is what the directions say BUT after Federal> Deductions & Credits> tabs, Cars and other things you own does not show as an option.
a month ago
The 1099-R form came in the name of the trust along with the trust’s EIN number. I put part of the trust name in the “first name” field and the 2nd part of the trust name in the “last name” field and...
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The 1099-R form came in the name of the trust along with the trust’s EIN number. I put part of the trust name in the “first name” field and the 2nd part of the trust name in the “last name” field and I am getting errors when I am trying to finish.
a month ago
Yes, those two years you are referring to only applied to the 2023-2024 tax years. This is not an option for 2025.
a month ago
If you didn't donate to charity in 2025 and you don't have any charitable contribution carryforwards, you do not have to complete that section of TurboTax. If there are entries there (that may have ...
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If you didn't donate to charity in 2025 and you don't have any charitable contribution carryforwards, you do not have to complete that section of TurboTax. If there are entries there (that may have pre-filled), you can delete them. If you made charitable contributions in prior years, check your return to see if there is a Form 8283. If there is one, you can delete it. (see instructions below).
To check your TurboTax entries regarding charitable contributions, you can:
Click on Search at the top right of your TurboTax screen
Type "Charitable Contributions" in the search box
Click on the link "jump to charitable contributions"
Your screen will say "Donations to Charity" make sure it is answered "No"
To check your return to see if there is a Form 1098, you use the instructions below to delete it.
If you are using TurboTax Online, you can try:
Go to "Tax Tools" in your left panel of your TurboTax screen, then
Select "Tools" and
Under "Other Helpful Links"
Select "Delete a Form."
This will bring up all of your forms and you can click on "Delete" next to Form 8283.
If you are using TurboTax Desktop, you can try:
Click on the "Forms Icon" on the top right of your screen to bring up "Forms Mode"
Choose "Form 8283"from the list of forms in the left panel of your TurboTax screen
3. Use the "Delete Form" option at the bottom of the worksheet to remove the worksheet
Select "Yes" to confirm deletion of the form
Please return to Community if you have any additional information or questions and we would be happy to help.
a month ago
This question is asking whether any of the stocks you sold during the year were granted to you as Restricted Stock Units (RSUs). If so, you will want to enter those separately in TurboTax since you m...
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This question is asking whether any of the stocks you sold during the year were granted to you as Restricted Stock Units (RSUs). If so, you will want to enter those separately in TurboTax since you may need to adjust the cost basis.
You can enter RSU sales at Wages & Income>Investments and Savings
Here is a TurboTax article for more information:
How to Report RSUs or Stock Grants on Your Tax Return
a month ago
To clarify, what do you mean by tax deductions from your foreign bank?
a month ago
This has to do with tastyworks credentials.
You will have to contact tastywors for your new credentials.
To fix this,
Sign out of TurboTax,
Clear your browser's cache/cookies, and ...
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This has to do with tastyworks credentials.
You will have to contact tastywors for your new credentials.
To fix this,
Sign out of TurboTax,
Clear your browser's cache/cookies, and
Re-import data using your current, updated tastyworks credentials.
a month ago
I have turbotax premier on my Mac, I imported Schwab's 1099-B, the only gain I have is the proceed from GLD sales to pay for the annual expenses. I figured out the cost of proceed and entered dates...
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I have turbotax premier on my Mac, I imported Schwab's 1099-B, the only gain I have is the proceed from GLD sales to pay for the annual expenses. I figured out the cost of proceed and entered dates. Turbotax somehow regards this gain as normal stock/etf long-term gain instead of the correct "collectibles" which requires you to do 28% max gain worksheet. I could not find anywhere in the "edit" scheme on my investment that I can tell turbo tax the gains are classified as collectibles. There is no option for this input under edit!!!! Need turbotax expect to tell us how to do it. There are a lot of users that have complaint about this. No solution has been presented for the desktop turbotax. The online turbotax version is different from the desktop version and the solution is not the same. I saw some advice for the online version but the desktop version isn't working for collectibles. Turbotax doesn't even ask if my investment is a collectible. Please advise!!
a month ago
Sorry. I misunderstood. When you are entering the data into the system you should have the option to adjust those entries. Has the import function just imported all of the transactions into the wr...
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Sorry. I misunderstood. When you are entering the data into the system you should have the option to adjust those entries. Has the import function just imported all of the transactions into the wrong sections?
a month ago
Thank you!
a month ago
Hi, I am amending 2024 from MFS to MFJ. When calculating additional state tax refund, it is not accounting for the refund that my wife already got. How do I add this to be reflected in the system.
a month ago
Checking the box that "you earned income in another state" means that you earned income in another state while you were still a PA resident. If your W-2 correctly allocated your income to each state...
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Checking the box that "you earned income in another state" means that you earned income in another state while you were still a PA resident. If your W-2 correctly allocated your income to each state (or you changed employers and had separate W-2 forms for each state), you can uncheck this box and click None of the above.