All Posts

If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines.  You must first wait until the initial return is completely processed.  You will have to use the same TurboTax account that you used for the original tax return.  Once you begin your amendment, you'll see your original return.   The refund calculator will start new at $0 and only reflect the changes in the refund or tax due  Only make changes to the areas of your return that need to be corrected.  You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment  Select your product below and follow the instructions.  Amend TurboTax Online  Amend TurboTax CD/Download 

You owe your own correct tax, whatever that is.  If you don't make payments into the system, or have withholding, you can owe a lot when you file your return.  If you are not working, the credit for claiming a child dependent is much lower than if you have some income from working, that's just how the law is written.   Do you have a specific question about how to file?

Hi Amy,   Thank you for your reply and help! Since I can't get Turbo Tax to allow me to enter the percentage of our property we rented out, I will go the manual route in this case.   In terms of the 41% / 150 days rented, my understanding was that this should amount to the number of days that a property was rented out "at fair market rate" or some such. Are you saying it is actually the number of days it was offered for rent at fair market rate?   This would increase our no. of days slightly so in the spirit of accuracy I will factor this in if so.

Thank you. What's murky here is the "business," my being a director, writer, performer, has existed for 50 years. What's new is I created an LLC (along with an EIN) to ensure my name was also my business when dealing with producers, theatres, royalties, and such. What has changed is "MyName" as a self-employed contractor to "MyName LLC."  Royalties, fees, and licensing contracts to produce my plays as a writer would, I assume, be more in line with operating as a legit business and possibly incurring more profit and expenses than being hired as a director or paid as a writer.  Also, for legal protection with copyright and ownership. It's just that 2025 follows two earlier years of little or no income, and 2026 may be a much better year. It seems that since 2025 is the first year of the LLC (even though it is my name) I would benefit from the Startup rule. Or, I can simply eat the expenses this year (as I would have a large loss as an independent contractor). We're not talking 10000s, we're talking 1000s. PS Don't know if age enters this equation, but I'm also 80. 

To replicate the prior depreciation methods, you may need to choose an asset type of "Other," which requires a thorough understanding of depreciation. This is a complex and tedious process, and you should consider upgrading to TurboTax Experts. This online service provides step-by-step guidance from a tax expert whenever you need assistance, either over the phone or by screensharing.

Yes, other/not classified is the correct choice (assuming you have University of CA DCP) unless the item you have in Box 14 fits in another specified category.   See this help article for more information about Box 14.   @eviebigtoe 

You need to edit you rental property income and expenses. On the screen that says Let's gather you business info update Rental Properties and Royalties. Work through that section until you find a screen that says Review your (name of business) Rental, and update the Assets/Depreciation section. Go to your asset summary when asked about that and then edit the assets you sold. You will see where you entered the sales proceeds allocated to each asset.   To refresh you on how you report the sale of a rental property:   You have a couple of options to report the sale of the property. One is in the business section of TurboTax, on the screen that says Let's gather your business info. Find the Less Common Business Situations menu and choose Sale of Business Property. That will work if you know the sale proceeds, cost basis of the property and the accumulated depreciation.   Your other option is to edit the asset entries in the business section of your return and assign a portion of the sale proceeds to each asset, thereby reporting the sale of each one of them. Typically, you can assign a sale price of $0 to all the assets but the home or building in the case of a rental property.     The result of either of these methods will be that a portion of the gain on sale of the business or rental will be reflected as ordinary income to the extent of depreciation deducted on the assets (known as depreciation recapture) and the remainder of the gain will be taxed as capital gain income.   @Potts3912  

The program is correct.  For 2024 the limit if you are 50 or older is $8,000.  Per the IRS:   For 2026, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can’t be more than: $7,500 ($8,600 if you’re age 50 or older), or If less, your taxable compensation for the year For 2025 and 2024, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than: $7,000 ($8,000 if you're age 50 or older), or If less, your taxable compensation for the year Information taken from IRS Web Page:  Retirement topics - IRA contribution limits

Thanks. I knew what I needed to do, but am pissed at Intuit for deliberately obfuscating the by-mail option in an attempt to trick/force people into e-filing. Also pissed at Intuit for its intense lobbying of the administration to take away free filing options from taxpayers. I've worked for for-profit corporations my entire career; I understand the desire to maximize profits. But when a company abuses its customer base to squeeze every possible nickel from them, they'll lose customers. Too many decision-makers fail to recognize where that line is drawn. Intuit unambiguously crossed that line this year. Please pass this up the chain. Thanks.

As AmyC mentioned in TurboTax Online there is a question in the federal section for you to select what type of distribution it is.  There is another question in the state return, that will ask for the amount of the government pension deduction, enter the amount there.     @lywaz   

If you imported any forms, you need to review each one for accuracy and completeness. The "needs review" tag will not be removed until you do.   If you entered the forms manually, you should still review each item in case there are more questions you need to answer.