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The qualifications for claiming a home office stand alone whether or not you also use a computer for your business.  The home office and the computer are two separate business expenses.   In a nu... See more...
The qualifications for claiming a home office stand alone whether or not you also use a computer for your business.  The home office and the computer are two separate business expenses.   In a nutshell, you may be able to claim the home office deduction if your office is:   Used regularly and exclusively for your business, and Is your principal place of business (both conditions must apply) Click the links above to learn more about what each of those terms mean in the context of claiming a home office.   Computers on their own can also be claimed as a business expense.  Typically, if the computer is used for both business and personal use, then you cannot claim the full cost of the computer.  Instead you would claim a percentage based on how much the computer is used for business purposes.  The proportional cost of the computer is claimed in the year that it is purchased, or in the year that you first use it for business purposes.  You would do this by entering it as a Asset for the business regardless of whether you can or will claim a home office.   See the following TurboTax help articles to learn more:   Where do I enter the home office deduction for my business?   Home Office: Pros, Cons, & Taxes!   @sploosh 
Getting ready to have surgery on my neck and my shoulder and my head for my brain so I can see straight and walk straight I think I have MS
Merril Edge shows up up on your partner list but not on the turbo tax drop down menu ??? It was on  the menu earlier,  update has removed it.     
Turbo Tax online says I need to correct some things on my state return.  When it takes me to the forms to be corrected, I cannot type or change anything.  I do not want to file a paper return!
@pgfryer , agreeing with my colleague @DaveF1006 's  very good and expansive reply, just wanted  to make sure that you are aware of the US-UK tax treaty  limits as to which contracting party can tax ... See more...
@pgfryer , agreeing with my colleague @DaveF1006 's  very good and expansive reply, just wanted  to make sure that you are aware of the US-UK tax treaty  limits as to which contracting party can tax Social Security and similar  public sourced  benefits.   Thus your UK pension source is a determining factor .   See this -->   U.S.-U.K. income tax treaty, signed July 24, 2001, London  
Oh geez, that makes sense. For some reason I thought I could do it on one account. I’ll have to make her an account and go through it, that makes sense. 
I understand this part. The problem is that there is also a 1099-misc issued for the same amount. If he also enters the 1099-misc the income will be double reported and he is back at square 1. Is the... See more...
I understand this part. The problem is that there is also a 1099-misc issued for the same amount. If he also enters the 1099-misc the income will be double reported and he is back at square 1. Is there anyway to remedy this? If he dosent report the 1099-misc thats a red flag right?
Since Tennessee does not have a personal income tax, leave boxes 15, 16 and 17 blank (empty) on the TurboTax W-2.   If this does correct the error, delete the W-2 and re-enter manually.
The question is what is the fair market value when you donated the items, for your items in the condition they were in, in your local area at that time.  National values will not necessarily satisfy ... See more...
The question is what is the fair market value when you donated the items, for your items in the condition they were in, in your local area at that time.  National values will not necessarily satisfy the IRS (and ItsDeductible values have been questioned at audit).  And old values may not represent the current market.  The best way to get values is to visit a local thrift store and see what they are tagging their items at.  For higher end items, you might look at a consignment shop. 
The computer is too old to deduct. It doesn’t affect your ability to claim a home office if you meet the requirements. 
The $6,000 senior deduction is there.   It is based on your date of birth in My Info. The senior poverty level has nothing to do with it. It is a temporary $6,000 "senior bonus" deduction ... See more...
The $6,000 senior deduction is there.   It is based on your date of birth in My Info. The senior poverty level has nothing to do with it. It is a temporary $6,000 "senior bonus" deduction available from the IRS for individuals aged 65 or older.  You should check your 1040 tax return. You will only see the base Standard or Itemized deduction on ‌line 12e. However, the Senior Deduction is reflected on line 13b of Form 1040.  It is reflected on Schedule 1A, Part V, Line 37  
In the context of the Annualized Income Installment Method, "Other Credits" generally includes any non-refundable and refundable credits found on your Form 1040 (Lines 19 and 27–31).    Common ex... See more...
In the context of the Annualized Income Installment Method, "Other Credits" generally includes any non-refundable and refundable credits found on your Form 1040 (Lines 19 and 27–31).    Common examples include: Child Tax Credit / Credit for Other Dependents: Usually applied proportionally, but if a child was born in Q4, the credit would be weighted toward the end of the year. Education Credits (AOTC or LLC): These should be recorded in the period you actually paid the tuition (e.g., if you paid for the fall semester in August, that credit belongs in the 3rd period). Child and Dependent Care Credit: Based on when you paid the provider. Foreign Tax Credit: Based on when the foreign tax was paid or accrued. Energy Credits (Form 5695): If you installed solar panels or an efficient HVAC system in October, the credit goes into the 4th period. Saver’s Credit: This is particularly relevant for you. Since you did a Roth conversion, if you also made contributions to a 401(k) or IRA, that credit is recorded when the contribution was made.
If you are age 65 or older and meet the requirement, the additional deduction is automatically added on your federal tax return.   Standard deductions for 2025 Single - $15.750 add $2,000 if ag... See more...
If you are age 65 or older and meet the requirement, the additional deduction is automatically added on your federal tax return.   Standard deductions for 2025 Single - $15.750 add $2,000 if age 65 or older Married Filing Separately - $15,750 add $1,600 if age 65 or older Married Filing Jointly - $31,500 add $1,600 for each spouse age 65 or older Head of Household - $23,625 add $2,000 if age 65 or older   New Bonus Standard Deduction (OBBB): An additional $6,000 deduction for taxpayers 65 and older. This is per eligible individual, meaning a married couple both over 65 could get $12,000. Important: This bonus deduction is temporary, lasting from 2025 through 2028. Income limitations: It phases out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers. The amount is calculated on Schedule 1-A, Part V, with that amount flowing to Form 1040 Line 13b Look at your Form 1040 - You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
@kak  Please clarify.  All contributions made by payroll deduction, whether your money or an employer contributions, are considered under tax law as "employer contributions."  This is because you t... See more...
@kak  Please clarify.  All contributions made by payroll deduction, whether your money or an employer contributions, are considered under tax law as "employer contributions."  This is because you technically ask for a salary reduction, and the employer contributes that salary difference for you.  All employer contributions (meaning employer plus employee through payroll) should be reported on the W-2 in box 12 with code W.   I read your question to mean that you contributed $2000 via payroll deduction, with $1500 as a salary reduction and $500 from the employer.  If that is the case, your W-2 is wrong, and you need to contact your employer for a corrected W-2.  And you should not try and file your return until you get the corrected W-2.  If they refuse to provide a corrected W-2, you can file with a "substitute W-2" form, but this prevents you from e-filing and will require proof that you tried to resolve it with your employer first.     
Tax year 2026 will not be completed until after 12/31/2026   If you wish to download the 2025 desktop editions, the current year being filed, go to this TurboTax website to purchase and download ... See more...
Tax year 2026 will not be completed until after 12/31/2026   If you wish to download the 2025 desktop editions, the current year being filed, go to this TurboTax website to purchase and download one of the desktop editions - https://turbotax.intuit.com/personal-taxes/cd-download/
I am forced to talk to a robot and the robot answers my question with > I need to file an ammemndment. I need to go on line with the Irs and make the change. I need to go to line 11 and chang my 1040... See more...
I am forced to talk to a robot and the robot answers my question with > I need to file an ammemndment. I need to go on line with the Irs and make the change. I need to go to line 11 and chang my 1040. None of the anwers are the coorect answers. So I need a person and not a robot to find out how to correct it. It was never sumbmitted so doing an ammendment with the IRS is not what I need. Advise.  C,
No, if the vehicle is in your name then the company can't take the 179 deduction unless it's a single member LLC.  And if it is titles in the company's name then generally the deduction is spread amo... See more...
No, if the vehicle is in your name then the company can't take the 179 deduction unless it's a single member LLC.  And if it is titles in the company's name then generally the deduction is spread among the members according to their ownership percentages.   The advantage to titling it jointly in your name is totally for you.  You retain some control and possession.  The disadvantage is that the company can't take a 179 deduction or bonus depreciation and can only deduct the actual expenses associated with the vehicle.    
That box would only need to be checked if you have Earned Income Credit.  Otherwise there is no need to have that box checked. Example - E-filed federal tax return.  Received federal tax refund.  T... See more...
That box would only need to be checked if you have Earned Income Credit.  Otherwise there is no need to have that box checked. Example - E-filed federal tax return.  Received federal tax refund.  That box on the Form 1040 was Not checked.