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yesterday
It's part of MacOS, normally gets installed automatically when needed but Turbotax 2025 doesn't trigger it. Your run this from the Terminal application on your Mac: softwareupdate --install-rose...
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It's part of MacOS, normally gets installed automatically when needed but Turbotax 2025 doesn't trigger it. Your run this from the Terminal application on your Mac: softwareupdate --install-rosetta Info: https://support.apple.com/en-us/102527 https://discussions.apple.com/thread/[removed]?sortBy=rank
yesterday
Hello Everyone, I am in the process prepare my 2025 tax return for State of California. I have completed Federal tax return using TurboTax software. Software: TurboTax Premier 2025 ...
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Hello Everyone, I am in the process prepare my 2025 tax return for State of California. I have completed Federal tax return using TurboTax software. Software: TurboTax Premier 2025 desktop edition Filing status: married file jointly. 2024 tax return prepared by accountant. (I only have PDF file) We have two rental properties: one single family house, one townhouse. Both properties located in CA. We reside in Texas. I have following questions: 1. How do I know if I have unallowed section 179 deduction from prior year? One prompt showed as Schedule E section 179 Carryover amount that was not allowed in 2024. Software suggested to check form 3885A ( I don't have this form for 2024). I left the box as blank. my previous posts regarding enter passive loss amount for Federal tax return: My previous post for how to calculate depreciation on assets: Schedule E (2024) has following data line 21 (single family house): $14,356 line 21 (townhouse): -$5,542 line 22 deductible rental estate loss after limitation (single family house): ( $14,356) line 22 deductible rental estate loss after limitation (townhouse): (blank) 2. How do I determine passive loss carryover from prior year? I referenced form 8582 (2024) Part VII Column (c) Unallowed loss section Single family house: $3,505 Townhouse: $24,957 I entered these two amounts on the prompt ask for "Enter passive and At-Risk Loss Carryover" Please review my questions and let me know if my entry for these two interview questions is correct or not. Thanks! section 179 Carryover screen passive loss carryover single family house passive loss carryover townhouse
yesterday
@hosintrean wrote: DeductionPro from H&R Block also used to be free; I don't know if it still is. OK, DeductionPro is actually a component of the H&R Block program, it's not a separate progra...
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@hosintrean wrote: DeductionPro from H&R Block also used to be free; I don't know if it still is. OK, DeductionPro is actually a component of the H&R Block program, it's not a separate program like ItsDeductible. You have to pay for H&R Block's tax software in order to get DeductionPro which, again, is incorporated into the program.
yesterday
Are you asking if you need to enter an IRA contribution on your state return?
Generally, you do not. This is because income and deductions are automatically carried to a state so that you don't...
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Are you asking if you need to enter an IRA contribution on your state return?
Generally, you do not. This is because income and deductions are automatically carried to a state so that you don't have to re-enter the amount.
But if you want an exact answer, please tell us which state you are referring to.
yesterday
What happens when the browser window opens for you to Sign In to your Schwab account? There have been security updates with OS and browsers that may be affecting you.
Try clicking the icon i...
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What happens when the browser window opens for you to Sign In to your Schwab account? There have been security updates with OS and browsers that may be affecting you.
Try clicking the icon in front of the URL when the Sign In window opens (a lock, or waves, depending on browser), then in Settings choose 'Allow' for LAN (local network).
@user17745589091
yesterday
@user17746430590 wrote: Would each need to complete form1310... No, just one of you needs to file the Form. If you're court-appointed, you usually don't need to file the form at all (just att...
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@user17746430590 wrote: Would each need to complete form1310... No, just one of you needs to file the Form. If you're court-appointed, you usually don't need to file the form at all (just attach the court appointment doc).
yesterday
Does a diagnosis of autism count and if so, can you tell me what form or sheet I need to complete to claim for sylvan tuition?
yesterday
Starting in 2024 there is a new question asking if you lived in a foreign place. People have been answering it wrong or skipping it. Go back through the Social Security entries. And it is for each...
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Starting in 2024 there is a new question asking if you lived in a foreign place. People have been answering it wrong or skipping it. Go back through the Social Security entries. And it is for each spouse. So if you have a low amount on 1040 line 6b you might have answered wrong for 1 person. You can go back into your tax return but be very careful not to change anything. Click on Add a State to let you back into your return. You should see this screen after you enter your Social Security and hit Continue. What is checked Yes or No? Also check if you ssn is valid for employment under My Info or Personal Info. That can affect many things. Needs to be yes. Before you file your tax return you should always review and compare it line by line to the prior year to check if the amounts look right and you have the same items on each return and on the right lines. Then you would have seen 1040 line 6b had zero taxable Social Security and you could have questioned it. Especially if some was taxable last year.
yesterday
Some of the Required Minimum Distribution went to charity and I took some but I find no way to specify the difference in what's taxable and what's not.
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yesterday
Unable to transfer Download file to Applications folder on Mac. I have updated software, rebooted, redownloaded. At wits end after 3.5 hours. Have used TT desktop version successfully since 2020. ...
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Unable to transfer Download file to Applications folder on Mac. I have updated software, rebooted, redownloaded. At wits end after 3.5 hours. Have used TT desktop version successfully since 2020. As soon as I double-click on file and transfer box opens, the download file is overlain by white circle with white slash - incompatible. Any chance that the download file is corrupt?
yesterday
Before it ended our access, I downloaded the entire listing of items and their values. I plan to turn it into an Excel spreadsheet and keep track of 2026's donations that way. I know that valuation...
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Before it ended our access, I downloaded the entire listing of items and their values. I plan to turn it into an Excel spreadsheet and keep track of 2026's donations that way. I know that valuations will be off slightly, but it'll be close. This just buys me time until I find an alternate solution. DeductionPro from H&R Block also used to be free; I don't know if it still is.
yesterday
1 Cheer
In the interview, the entries for Schedule 1, Line 24z come from the Less Common Income >Miscellaneous Income section, sometimes to offset income reported elsewhere in your return that should be non-...
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In the interview, the entries for Schedule 1, Line 24z come from the Less Common Income >Miscellaneous Income section, sometimes to offset income reported elsewhere in your return that should be non-taxable. What type of income item are you trying to adjust? If you can give more details, we'll try to help.
@BadDNA
yesterday
This year many people have been incorrectly answering the question that asks if they are an US citizen living outside of the US, resulting in their tax return underreporting the taxable amount of Soc...
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This year many people have been incorrectly answering the question that asks if they are an US citizen living outside of the US, resulting in their tax return underreporting the taxable amount of Social Security income.
yesterday
1 Cheer
I am doing an Online test. I want to confirm some things.
1. I have entered into the Online version (manually) just enough information from your token to duplicate the error message in the stat...
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I am doing an Online test. I want to confirm some things.
1. I have entered into the Online version (manually) just enough information from your token to duplicate the error message in the state Review.
2. I entered 0 for "Balance of HSA(s) on December 31, 2010, less amount distributed in 2011-2022 (From 2022 Schedule I Health Savings Account Worksheet)".
3. When I got to the review, I got one error for WI: for the WI Schedule I, Part II, line 1a, Col II
4. To fix this in the Review, I entered zero in the box under the text (which put zero on the form). Then the review was clean.
5. For another test, I blanked out the 0 that was for "Balance of HSA(s) on December 31, 2010, less amount distributed in 2011-2022 (From 2022 Schedule I Health Savings Account Worksheet)".
6. In the Review, I got two errors: one for the missing start amount and the second for the WI Schedule I, Part II, line 1a, Col II
7. I was able to fix both of the errors in the Review by entering 0 (zero).
8. So read all this and tell me what you are doing differently...
yesterday
This thread was asking in regard to Roth conversions. Transfers of employer plans have nothing to do with Roth conversions. Transfers of employer plans require coordination between the plans and...
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This thread was asking in regard to Roth conversions. Transfers of employer plans have nothing to do with Roth conversions. Transfers of employer plans require coordination between the plans and are typically the result of one employer acquiring another or an employer spinning off a portion of the business. However, employee-initiated movements of funds between employer plans are done by distribution and rollover, and those rollovers are not permitted to be done until the RMD for the originating account has been satisfied. Note that CFR § 1.401(a)(9)-7(c) applies only to transfers, not to rollovers. CFR § 1.401(a)(9)-7(a) applies to rollovers, and that includes Roth conversions.
yesterday
Yes, that is correct. Any depreciation recapture will be taxed as ordinary income.
yesterday
1 Cheer
No, you do not have to wait for TurboTax’s pending update. If your current entries correctly reflect the federal tax‑free treatment of the QTP, Roth rollover and the California taxable adjustment, th...
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No, you do not have to wait for TurboTax’s pending update. If your current entries correctly reflect the federal tax‑free treatment of the QTP, Roth rollover and the California taxable adjustment, this should suffice for this year's filing.
yesterday
I am 18 years old and have $15000 of income from 1099-INT. I am being claimed as a dependent by my parents.
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yesterday
Go to the main page of turbo tax click on Other Tax Situations. Click on Extra tax on early retirement withdrawals; next page click continue; the next page gives you different options; on Other (inc...
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Go to the main page of turbo tax click on Other Tax Situations. Click on Extra tax on early retirement withdrawals; next page click continue; the next page gives you different options; on Other (including over 59. 1/2) I entered the amount I was having to to pay a penalty on and it fixed the problem.
yesterday
Yes, the obligation to file Form 3520 often continues after a spouse's death, but whether it is required depends specifically on how the property was held and how it was "received" by the wife. Here ...
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Yes, the obligation to file Form 3520 often continues after a spouse's death, but whether it is required depends specifically on how the property was held and how it was "received" by the wife. Here are some things to consider.
1. Property solely owned by the deceased foreign spouse
If the deceased spouse was a foreign person and the surviving spouse inherits foreign assets worth over $100,000, the surviving spouse must file Form 3520 for the year in which they are considered to have received the inheritance.
If constructive receipt occurs at death → report in that tax year.
If assets transfer later → report in the year of transfer.
2. Jointly held property
If the property was jointly owned, the surviving spouse may not be treated as “receiving” the entire property at death. It depends on:
The type of joint ownership under foreign law
Whether the surviving spouse already legally owned their share
Whether the decedent’s share passes automatically or through probate
Only the portion treated as a foreign bequest to the surviving spouse counts toward the Form 3520 threshold.
3. Foreign trusts
If the deceased spouse was involved with a foreign trust and the surviving spouse becomes:
a beneficiary,
a U.S. owner, or
a recipient of a distribution,
Then Form 3520 may be required regardless of inheritance rules. U.S. persons (including executors of U.S. decedents) must file Form 3520 for foreign trust distributions or ownership