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Friday
Thank you @MarilynG1!
Friday
Hi I am showing A dependent's SSN duplicate, how do I go about delete one as only one applies
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Friday
My job sent my w2 to my ADP
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Friday
One of the crazy things in the tax code. The health insurance paid for a 2% or more S-Corp shareholder becomes a deduction on one of the wage lines on the return. However, the amount is then included...
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One of the crazy things in the tax code. The health insurance paid for a 2% or more S-Corp shareholder becomes a deduction on one of the wage lines on the return. However, the amount is then included in the taxable wages of the shareholder. In a one-shareholder S-Corp, the result would net to zero. However, the tax laws provide that the shareholder can deduct this as self-employed health insurance on Schedule 1. With the proper entries in Turbotax tjhis should be automatic. Other health insurance does not qualify for this special treatment. It is includable as a medical expense on Schedule A. This may not produce any tax benefit because only medical expenses in excess of 7.5% of adjusted gross income is included as part of itemized deductions, and then your itemized deductions would have to exceed your standard deduction unless you are a taxpayer that must itemize.
there are additional rules for what can be counted as shareholder medical insurance. The health insurance plan must either be in the name of the S-Corp andthe premiums paid by it, or under an accountable plan between the S-Corp and shareholder, the S- Corp reimburses the shareholder for the premiums paid by the shareholder. Also, failure to include the applicable premiums on the shareholder's W-2 makes them non-deductible by the S-corp and the shareholder. This does not apply where the premiums are not paid or reimbursed by the S-corp. they are an eligible medical expense as described above.
Friday
@kgalusha wrote: I had same problem. Software reports it got the 1099 data, but returning to Turbo Tax premier edition show not imported data. Your 1099-B isn't ready yet, that's why.
Friday
@TobiasC wrote: Merrill lynch is not even showing as an option on the Turbo Tax list We KNOW that already. Please read the posts above yours.
Friday
Either one of you. Or you can split it down the middle and each claim half. As long as you don't claim the same amount twice you can do it whichever way it benefits you the most.
Friday
@troy9173 wrote: H&R Block allows for the direct import of charitable donation data, specifically through its integration with tools like DeductionPro Really? How? With DeductionPro you need to...
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@troy9173 wrote: H&R Block allows for the direct import of charitable donation data, specifically through its integration with tools like DeductionPro Really? How? With DeductionPro you need to enter the information (e.g., the name of the charity, date, etc.) and then DeductionPro will help you find the FMV for the items. Users cannot upload a file (or whatever) to the program as was possible with ItsDeductible into TurboTax. If you know differently re H&R Block, please post the procedure. All I can see is a procedure to choose items from a dropdown list and then have the program find the FMV for those items but you still have to do all of that manually.
Friday
Contact support to see if the expert you want is available this year. The "Live" experts are seasonal employees who may or may not be working with TT this year.
To call TurboTax customer suppo...
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Contact support to see if the expert you want is available this year. The "Live" experts are seasonal employees who may or may not be working with TT this year.
To call TurboTax customer support
https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/contact-turbotax/L2y9ZKpQB_US_en_US?uid=m5s9l2vh
Friday
You'll use 8915-F if you need to pay postponed taxes on withdrawals that you made from your retirement account in prior years to cover disasters. If you don't have any of these issues then you don't...
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You'll use 8915-F if you need to pay postponed taxes on withdrawals that you made from your retirement account in prior years to cover disasters. If you don't have any of these issues then you don't need to file this form.
Friday
Were your TT fees more or about the same amount as your filing fees ?? They probably wont send you little to nothing if they were .. The glitch really messed everything up. I opted for them to take t...
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Were your TT fees more or about the same amount as your filing fees ?? They probably wont send you little to nothing if they were .. The glitch really messed everything up. I opted for them to take the fees out of my federal taxes and they still took them out of my state .I did receive my state refund but they took the out the filing fees
Friday
File it by mail. Print it, sign and date it in ink, and mail it in.
Use a mailing service like certified mail to track so you will know it was received since you will have a long wait.
...
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File it by mail. Print it, sign and date it in ink, and mail it in.
Use a mailing service like certified mail to track so you will know it was received since you will have a long wait.
Do not expect quick results from amending. It can take four months or more for the IRS to process an amended return.
You can watch for information here:
https://www.irs.gov/filing/wheres-my-amended-return
Friday
My boyfriend and I bought a new car both names are on the title. Who can claim the interest on their taxes
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Friday
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.
Friday
So my turbo tax app was glitching it showed my federal refund at the same amount as my state return. Then when I called the lady said that part of my federal return was going to be released on 2/6 (w...
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So my turbo tax app was glitching it showed my federal refund at the same amount as my state return. Then when I called the lady said that part of my federal return was going to be released on 2/6 (which was actually the day my state taxes was supposed to come) . Today I received my state taxes (2/6) but turbo tax took the filing fees out of my state return even though I opted to have them taken out of my federal return . Does this have to do with the glitch?? Because they had my federal return as the same amount as my state and maybe there system processed my state taxes as if they were my federal taxes…. (I’m on path so there is no way I would have gotten my federal this early )
Friday
Turbo Tax online/mobile.
Friday
I had this problem until today. In my case it was having OneDrive's Personal Vault open. So besides USB drives, cloud drives changing causes this problem too. Keep your connected cloud drives the sam...
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I had this problem until today. In my case it was having OneDrive's Personal Vault open. So besides USB drives, cloud drives changing causes this problem too. Keep your connected cloud drives the same. You may have to disconnect the clouds.
Friday
What did you use to file your original 2024 return?
Friday
Same question
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Friday
It will let me go through the process of filling out the 1040-X, but it won't let me submit it.
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