All Posts

I see installment sales in the first question and sale of main home in the second question. If you qualify for the $500k exclusion, it is main home and you are wanting to know if the $38k in expenses can help your tax refund.   Money spent on your main home to buy, to sell, to improve all go into the basis. If you spent $38k to upgrade and improve the home or sell the home, that should be added to your purchase price. It reduces the amount of gain. If your gain is over $500k, it could reduce your tax liability.    You state that you do not need to enter your home because the exclusion covers the sale. You would only enter your main home if you received a 1099-S or if you had taxable income.   Follow these steps for ale of main home entry: less common income sale of home - note installment sales are listed just below and easy to hit the wrong button yes/start address of home 1099-S - yes or no date sold sales price sales expenses -maybe the $38k goes in sales expenses? You don't say what created the expenses. you can ask the program to help you calculate the basis and it will cover everything - the $38k will definitely be in there. If you did an installment sale and the buyer is paying you every year/ month until the house is paid, you would need to file the 6252 for an installment sale. It is filled out every year until the house is sold. Your first question shows you in the installment sale screens.    If you sold you main home as an installment sale with no taxable gain, you would file installment sale Form 6252 and report interest income on Sch B.

Since you have already filed your return, wait until the IRS fully processes your return, and then file an amendment.   The amendment forms (1040-X) will be ready next month - you have 3 years to file the amendment.    The 1098-E is not a required tax form, but if it qualifies you for a tax credit, file the amendment once your original return gets processed.     You can check this link to access the Forms Availability Tool to see if and when forms are available.   

Agreed. I have now downloaded Acrobat Reader to my new computer. When I go to scroll down form the Utah summary page to the next 2 Utah TC-40 pages the following error message appears.   "An error exists on this page. Acrobat may not display the page correctly. Please contact the person who created the PDF document to correct the problem"   Adobe Reader does, however, correctly present the 2 Utah TC-40 pages.

The Form 1040-X for amending a 2025 federal tax return is estimated to be available in TurboTax on 03/04/2026   An amended return, Form 1040-X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 20 weeks or longer to process an amended tax return. Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS. See this TurboTax support FAQ for amending a current year tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-federal-tax-return-curr...

Property tax entered in the Deductions & Credits section of your Federal return should flow to your Wisconsin Form 1 line 16b.   You can't enter directly on line 16b in the Forms view unless you "override" the field, which will prevent you from e-filing; however, just above line 15 is the "Individual Tax Credits Worksheet"  You can enter directly there for Line 16 School Property Tax Credit.  An amount entered there should flow directly to Line 16b and populate the credit amount.  You can also check to make sure that the field has not been marked as an override or estimate - click on the field to hi-light it.  Then click on "Edit" in the menu in the upper left of your screen.  If the there is an option to clear an override or clear an estimate, click on them.  

As part of closing on the house, I was required to fill out a 2025 Form OR-18-WC - Report of Tax Payment or Written Affirmation for Oregon Real Property Conveyance, where I reported the sale and paid the taxes owed.   I checked the box marked "Nonresident Individual. Will that not suffice? Do I really have to file a bunch of forms even though we never lived in Oregon?   Thank you.   Yvonne

Did you pay the TurboTax fees already?  If not, clear your return and start over with the free edition.  Do not accept any offers to upgrade or use the Live editions.   If you have not paid for the online edition you are using, have not filed your tax return or registered the Free edition, then you can clear your return and start over with a lower priced edition. Click on Switch Products on the lower left side of the program screen while working on the 2025 online tax return. Click on Clear & Start Over   Go to this TurboTax website for the Free online edition - https://turbotax.intuit.com/personal-taxes/online/free-edition.jsp

If you did not enter a Form 1099-PATR in TurboTax, you can look to see if that form is in your program and delete it as follows:   Follow these instructions:   1. Choose the Tax Tools option on your left menu bar while working on your return 2. Choose Tools 3. Choose the Delete a form option under Other Helpful links  4. Find the Form 1099-PATR in the list and delete it      

I was on the line with help and told I had a case and that it would be fixed today.  No email, no contact, and the issue is still there.  now there is an hour wait on your phone.  I don't think anybody understands my question.  

What you say sounds reasonable.   As a nonresident of Missouri, you should file form MO-NRI, which will prorate your Missouri income (see Part C).   Can you see your Missouri return or only the Summary? In the Missouri interview in TurboTax, did you answer question about Missouri source income? This goes to populate form MO-NRI, which calculates the percentage of your income in Missouri divided by your total income.