All Posts

The issue is whether the IRS considers that you flipped the house with the intent of making a profit. If so, you are in business and would generate the 1099-NEC. It doesn’t matter that you are an “individual”. 

  @Alanprater1953  IF...if you used the "Online" TTX software last year (i.e. for 2024 taxes) Then, before you can see and download your 2024 tax forms: 1)  You are required to start thru a number of pages of tea 2025 software first. 2) Once the left-side menu shows up more fully, you can click on Tax Home....then scroll down the page to expand and display any prior year's taxes you prepared in that account. ____________________________ @Alanprater1953

You can create a 1099 when using Quick Employer Forms. Go to this TurboTax website for information on QEF - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/create-w-2-1099-forms-employees-contractors/L0yjM6jDz_US_en_US

I know i need to file two spereate schedule Cs but im asking how and where do i do this. Is there a way to manually do this on turbo tax or will it ask me as I am working. Forms aren't available yet and I've never done more than one so I'm just trying to figure out what to expect.

TurboTax (TT) does not automatically prepare a School District return (form SD100), you must initiate it. At the screen, in the Ohio program, titled  "A few things before we wrap up your state taxes"       scroll down to School District taxes.  Or later at the screen  "Your 2022 Ohio Taxes are ready for us to check"     -Click Other situations     -Scroll down to School District taxes.   Usually  the School District Income Tax (SDIT) return  is e-filed with the state return, but there are exceptions. Read the Ohio 'filing instructions" that TurboTax prepares, They will tell you if the SD100 was e-filed or if you have to mail it.   If it was prepared, it will be on the list of Ohio forms, whether actually filed or not.   Note: Beginning in 2024, TT will ask “Do you want to file your School District taxes”, if your W-2 showed SD withholding in box 19.

Paying your TurboTax fees did not file your tax return.  Did you go all the way through the FILE section and click the big orange button that said "Transmit my returns now?"       DID YOU E-FILE?   Did you e-file?   Did you go through all three steps of the FILE section and click a big orange button that said “Transmit my returns now?”     When you e-file your return you will get two emails from TurboTax.  The first one will say your return has been transmitted; the second one will tell you the IRS has accepted  or rejected your federal e-file.  If you filed a state return, there will be a third email (usually a day or two later) that tells you if the state e-file was accepted or rejected.   Check your e-file status:   https://turbotax.intuit.com/tax-tools/efile-status-lookup/    What does it say in your account?  Does it show that the return was accepted?   Or does it say something else---like "rejected," "printed," or "ready to mail?”   If you discover or realize that your e-file was rejected, you will need to print it, sign and date it in ink, and file it by mail now, since e-filing is closed for returns for tax year 2024.    

here's a list of actions you should take. also change the passwords and if possible user IDs you are currently using. assuming you have a cell phone, on the websites that have the provision, use two-step verification.   Credit Agencies 1) Report the identity theft to the fraud department of one of the following reporting agencies as soon as possible. They must notify the other two agencies. Equifax: equifax.com Experian: experian.com TransUnion: transunion.com 2) Request a copy of your credit report and request that only the last four digits of your Social Security number be placed on the report. 3) Close accounts that you think have been compromised or opened fraudulently. 4) Inform the credit bureaus and the credit issuers (in writing) of any fraudulent accounts and incorrect information. 5) Obtain replacement credit cards with new, secure account numbers and destroy any old cards. 6) Notify those who have received your credit report in the last six months to alert them to any disputed, fraudulent or incorrect information. 7) Confirm that an extended fraud alert (seven years) is placed on your credit report.   Federal Trade Commission (FTC) 1) Report the crime to the FTC to establish an Identity Theft Affidavit.   Local Police 1)Report the crime to your local police or sheriff’s department. Make sure to prompt as much documented evidence as possible. 2)Verify that the report lists the fraudulent accounts and keep a copy of the report.   Internal Revenue Service (IRS) 1) Contact the IRS to report the theft. This will alert them to any claim for refund or other activity on your account. File IRS Form 14039 Identify Theft Affidavit. get an IP Pin   State Tax Agency 1) Contact your state tax agency to report the theft. Some agencies may require a police report and/or the IRS affidavit.   Other Agencies and Organizations 1) U.S. mail fraud: Contact your local postal inspector. Online: postalinspectors.uspis.gov Phone: 800.275.8777 2) Social Security number misuse — non-IRS issues: -Check your earnings record to make sure no one is using your SSN to obtain work. Call your local Social Security Administration (SSA) office if something looks inaccurate. -Contact the SSA Inspector General to report Social Security benefit fraud, employment fraud, or welfare fraud. Online reporting resources: - socialsecurity.gov/oig - Fraud Reporting Form SSA fraud hotline: 800.269.0271   I would also contact the VA https://www.va.gov/contact-us/#call-us