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4 hours ago
@IndianExpat , Namsste ji
Assuming that this was not a rental property, TurboTax will ( form 8949 or Schedule-D ), sales price ( I would use a back/detail sheet to record sales price, LESS i.e...
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@IndianExpat , Namsste ji
Assuming that this was not a rental property, TurboTax will ( form 8949 or Schedule-D ), sales price ( I would use a back/detail sheet to record sales price, LESS i.e. entered as negative amount, costs associated such as commission, sales prep costs, transfer tax etc. ), your basis in the prop. ( this would be acquisition cost + costs of improvements, LESS any accumulated depreciation ). Turbo will then compute taxable gain per US tax laws --- short-term or long-term.
The Indian Tax ( whether you use the older method ( 20% and indexing ) or new method ( 12.5% and no indexing ) , when finalized is your foreign taxes paid -- TDS is not good to use =-- because you risk having to file an amended return to match with reality.
Form 1116 will recognize the full foreign taxes paid but allowable FTC is limited to the lesser of Foreign taxes Paid and that imposed by US on the same doubly taxed foreign source income.
Is there more I can do for you ?
Namaste ji
4 hours ago
I am not sure what you are asking, but the instructions for Schedule C line 19 (page 😎 state:
If the plan included you as a self-employed person, enter the contributions made as an employer on ...
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I am not sure what you are asking, but the instructions for Schedule C line 19 (page 😎 state:
If the plan included you as a self-employed person, enter the contributions made as an employer on your behalf on Schedule 1 (Form 1040), line 16, not on Schedule C
If this is not a self-employed situation or if you are asking on what forms this employer contribution appears, please come back and give us a lot more context to your question.
4 hours ago
Thanks @rmc-az . That looks like a fine place to put it, along with the "Charitable Contributions made in exchange for State Tax Credit (SALT Safe Harbor)" explanation. (Done only via Forms, not th...
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Thanks @rmc-az . That looks like a fine place to put it, along with the "Charitable Contributions made in exchange for State Tax Credit (SALT Safe Harbor)" explanation. (Done only via Forms, not the interview, I believe. That's the Federal 1040 "State and Local Tax Deduction Worksheet" / "State Tax Ded" in the forms list, line 17, for those reading along.) Note that these entries are flagged as Overrides and are red. The Review checks pass. Unknown if e-filing is blocked due to overrides. For completeness, also enter the total state tax credit amount on the STATE TAXES interview "Adjustment to State Income Tax Deduction" page. This entry shows up on Schedule A(140) line 7 and subtracts from the itemized deduction amount. Interestingly, this override entry on State Tax Ded line 17 does NOT propagate to the AZ return "Tax Payments Worksheet" / "Tax Pymt Wks" in the forms list, so it looks like the AZ return is not messed up. TT developers: Please make this a State tax credit interview page in the Federal taxes, and ensure that the tax deduction taken on the Federal return is not included as an actual tax payment in the AZ State return. All without triggering overrides and breaking e-file.
4 hours ago
If the Social Security benefits is the Only income to be reported on the tax return and there is no federal income taxes being withheld, then there is no reason or need to file a tax return.
4 hours ago
If you want to downgrade, you do need to start over, from the beginning. If you want to upgrade, just click the button and continue your return.
You can type in manually or import your forms.
4 hours ago
To enter a Form 1099-NEC -
Click on Federal (Personal using Home & Business) Click on Wages & Income (Personal Income using Home & Business) Click on Income & Expenses (Self-Employed Scroll dow...
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To enter a Form 1099-NEC -
Click on Federal (Personal using Home & Business) Click on Wages & Income (Personal Income using Home & Business) Click on Income & Expenses (Self-Employed Scroll down to Other Common Income On Form 1099-NEC, click the start or update button
4 hours ago
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4 hours ago
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4 hours ago
What does coffee, water, and business note cards fall under - advertising or business supplies?
Topics:
4 hours ago
I don't see that option on desktop version of turbo tax. Where do i enter there?
4 hours ago
Same issue here — mid-year conversion to rental, insurance deduction swallowed by a bug Adding my experience because it mirrors this exactly, and I want others to know how bad this gets. I converte...
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Same issue here — mid-year conversion to rental, insurance deduction swallowed by a bug Adding my experience because it mirrors this exactly, and I want others to know how bad this gets. I converted my primary residence to a rental mid-year. The software treated it as a vacation home/partial rental instead of a primary-to-rental conversion, which caused it to cap my deductible expenses — completely contrary to how the tax law actually works for a conversion situation. Specifically, my homeowner's insurance deduction for the period after conversion never made it onto Schedule E. That's roughly $2,800 in missed deductions. What made this worse: I called support four times. I was hung up on twice, and on a third call was simply transferred back to another agent with no resolution. On the fourth attempt, I paid for an expert review of my return. The expert looked it over and told me my insurance deduction was in there and everything looked good. I trusted that and filed. After filing, I reviewed Schedule E directly and the insurance deduction was nowhere on it. The expert review missed it entirely. So now I'm looking at filing an amended return — which TurboTax's "100% accurate" guarantee is supposed to prevent. The support experience was genuinely one of the worst I've had with any software product. Being hung up on twice while trying to report a legitimate bug is unacceptable. TurboTax needs to fix this conversion scenario in the software — it's clearly affecting multiple people.
4 hours ago
I’m trying to import a 1099R it asks for Provider’s URL where do I find that
4 hours ago
Yes, TurboTax can amend your 1040 to a 1040X and you can add your1098-T to report income or receive education credit. If you do not qualify for credit nor do you have income to report, you are not re...
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Yes, TurboTax can amend your 1040 to a 1040X and you can add your1098-T to report income or receive education credit. If you do not qualify for credit nor do you have income to report, you are not required to file the form.
Select your product below and follow the instructions.
Amend TurboTax Online
Amend TurboTax CD/Download
4 hours ago
@Megpatton wrote:
How to find a pension provider’s URL
Enter the Form 1099-R manually -
To enter, edit or delete a form 1099-R -
Click on Federal Taxes (Personal using Home and Bus...
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@Megpatton wrote:
How to find a pension provider’s URL
Enter the Form 1099-R manually -
To enter, edit or delete a form 1099-R -
Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Scroll down to Retirement Plans and Social Security On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button
Online editions -
On the screen Did you get a 1099-R in 2025? Click on Yes On the screen Let's import your tax info Click on Change how I enter my form On the screen How would you like to upload your 1099-R? Click on Type it in myself On the screen Who gave you a 1099-R? select the type of 1099-R you received and Continue
Desktop editions -
On the screen Did you get a 1099-R in 2025? answer Yes
On the screen Choose all the situations that apply to you, select Skip this
On the screen Let us Enter Your Bank and Brokerage Tax Documents, select Skip Import
On the screen Who gave you a 1099-R, choose an option and Continue
4 hours ago
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4 hours ago
Massachusetts and Rhode Island NOT have a tax reciprocity agreement therefore as you live in one state and work in the other, you must file non-resident tax returns in the state where you work and r...
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Massachusetts and Rhode Island NOT have a tax reciprocity agreement therefore as you live in one state and work in the other, you must file non-resident tax returns in the state where you work and resident returns in the state where you live. You first must complete your non-resident state tax return, then you complete your resident state return. You normally get a credit for taxes paid to another state on your resident return although it is not dollar for dollar, it is based on income and tax rates. Make sure during the Rhode Island interview you may have to select to remove a W-2, which you would remove the MASS one.
TT will walk you through the returns.
Did your employer withhold Rhode Island and Mass taxes? They should be and if they don't, you may need to start paying estimated taxes to the state they don't withhold from.
@Donna1957
4 hours ago
How to find a pension provider’s URL
4 hours ago
Alternatively, at the same time that you e-file your return, you can go to Payments on the IRS website, where there are some alternatives to direct debit.