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Sunday
Only the IRS would know what all is going on with your return, but there are some things you need to investigate before phoning them. First, you need to be sure the return was successfully filed....
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Only the IRS would know what all is going on with your return, but there are some things you need to investigate before phoning them. First, you need to be sure the return was successfully filed. It depends on how you chose to file the return. If you filed a paper return by mail, TurboTax does not mail it for you. If you chose that method, you would have had to print it, sign it, date it, and mail it yourself. It takes at least 4 weeks for a mailed return to show up in the IRS WMR tool. If you efiled, double-check to be sure the return was efiled successfully and accepted. If you used Online TurboTax, you can sign into your Online Account and check the efile status at the Tax Home. Which of these words is used there for the status: accepted, rejected, printed, started, ready to mail, or something else? If that showed it was accepted, (or if you mailed a paper return), you can use the "Where's My Refund" tool at the IRS website below to monitor the status of your Federal refund. Is there any message there? https://www.irs.gov/wheres-my-refund Here are some tips when using that IRS tool: Be sure you enter the correct tax year, SSN, and filing status. Be sure you are using only the Federal refund amount. Do not include any state refund or any total refund or net refund (Fed and State) that TurboTax may have provided on a summary screen. Look at your actual Federal return to get the Federal refund amount to use in the tool, i.e., your Form 1040, Line 35a.
Sunday
Topics:
Saturday
A bit surprising to me that TurboTax can be this misguided.
Saturday
In public traded partnerships -k1 entities, does pass losses or carry over losses be offset income ONLY from same entity? ET is one pubic traded partnership but has other partnership within its u...
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In public traded partnerships -k1 entities, does pass losses or carry over losses be offset income ONLY from same entity? ET is one pubic traded partnership but has other partnership within its umbrella. All other partnerships within ET k1 are separate entities? I sold my ET (all of them). Question I am trying to understand, does all passive loss across all ET entities has to combined or only passive loss be offset by income from same entity (same FEIN)?
Saturday
In the past my CPA used to enter only totals from sales of stocks (both long and short term) and then e-file Tax return but mail the sale details from my 1099 to IRS. Tax prepares can not import 1099...
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In the past my CPA used to enter only totals from sales of stocks (both long and short term) and then e-file Tax return but mail the sale details from my 1099 to IRS. Tax prepares can not import 1099 into their software so they have manually enter every thing. According to him, it was to save me money and I was paying him for time or how many forms or lines he has to punch. How can it be done within TT and is there form to be mailed along with securities sale detail? What is form number or how do get mailing instructions with TT? Can it only be done for sales of securities or any other form which can not be e-filed mailed to IRS but tax return itself filed as e-file?
Saturday
@hatler77 If you're using QuickBooks Self-Employed bundle, I also found another article and video at QuickBooks support site on how to export your QuickBooks tax info into TurboTax. I assume that'...
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@hatler77 If you're using QuickBooks Self-Employed bundle, I also found another article and video at QuickBooks support site on how to export your QuickBooks tax info into TurboTax. I assume that's how TurboTax knows not to charge you--as long as you are using the same account. But again, as I mentioned above, this community forum at TurboTax is unlikely to provide much help in regard to QuickBooks. You can phone or chat with QuickBooks Support. https://quickbooks.intuit.com/learn-support/en-us/help-article/taxation/send-quickbooks-self-employed-tax-info-turbotax/L5x490sqZ_US_en_US
Saturday
I have a K-1 from a real estate partnership. Box 2 = -1478. Box 20 Code Z = STMT. Then below the form itself it says the following: ======= BEGIN QUOTE ================= Section 199A informatio...
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I have a K-1 from a real estate partnership. Box 2 = -1478. Box 20 Code Z = STMT. Then below the form itself it says the following: ======= BEGIN QUOTE ================= Section 199A information, Box 20, Code Z Rent - Investment in Subsidiary - <SUB NAME> - Rental loss = -578 PASSTHROUGH - <SUB NAME> LLV [same SUB NAME as above, with LLV added] EIN: <this EIN is different from K-1 EIN> - Rental loss = -900 - Unadjusted Basis of Assests = 6521 ======== END QUOTE ============ Note that the two losses add up to -1478, which is the number in Box 2. This loss will be suspended. I also a further Schedule of Activities, where the two a listed separately with -578 listed with Code 2, and -900 is listed with Code 8. I have not found any information about this schedule and the codes. Now my question: TT is asking whether the Section 199A income is from the partnership that generated the K-1, or from another business. Which option should I pick?? On the one hand, only -900 is from another business with its own EIN. On the other hand, the -578 seems to be from the same business, just listed differently! Thanks!
Saturday
If I file form 2210 asking for abatement of penalty, how does this work. Would IRS send you a letter either approving or disapproving it or either you get refund check or no news? How long does ...
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If I file form 2210 asking for abatement of penalty, how does this work. Would IRS send you a letter either approving or disapproving it or either you get refund check or no news? How long does it takes to get refund for under payment penalty?
Saturday
@ hatler77 wrote: "How do I file for free if I have the self-employed tax bundle?" This is a user community forum for the regular TurboTax products (non-bundled), and it's not clear what you m...
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@ hatler77 wrote: "How do I file for free if I have the self-employed tax bundle?" This is a user community forum for the regular TurboTax products (non-bundled), and it's not clear what you mean by "bundle." So we have to guess a bit. Are you by any chance referring to a QuickBooks Self-Employed bundle that includes TurboTax? If so, then see if this answer by a QuickBooks employee at QuickBooks is helpful. While your situation may not be the same as the user's question there, the article at least tells you the method to contact QuickBooks Support to speak to someone there, if necessary, by phone or chat. https://quickbooks.intuit.com/learn-support/en-us/taxes/just-did-turbotax-online-got-ready-to-file-but-it-wants-109-to/00/1537941 Folks in this TurboTax forum are not as likely to be able to help with QuickBook products. If that's your product, QuickBooks also has a community forum at the following page where there is a green "Ask the Community" button: https://quickbooks.intuit.com/learn-support/us-quickbooks-community/misc/03/community-us If that's what you have, then QuickBooks should be your main source of help for how to access TurboTax correctly, but should you, however, also need to speak to TurboTax Support at any point: FAQ: What is the TurboTax phone number? https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632
Saturday
You cannot use TurboTax's Free Edition if you have self-employment income. only very simple Form 1040 returns with no extra forms or schedules can be filed using the Free Edition. You need to use...
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You cannot use TurboTax's Free Edition if you have self-employment income. only very simple Form 1040 returns with no extra forms or schedules can be filed using the Free Edition. You need to use online Premium or any version of the desktop download software in order to prepare a Schedule C for your business expenses.
Saturday
Make sure you have entered your child as a dependent in My Info, and that you have entered the child's Social Security number. Careful— do not say that your child’s SSN is not valid for employment...
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Make sure you have entered your child as a dependent in My Info, and that you have entered the child's Social Security number. Careful— do not say that your child’s SSN is not valid for employment. If your child was born in 2024 make sure you said he lived with you the whole year. There is an oddly worded question that asks if the child paid over half their own support. Say NO to that question.
Have you entered income from working in 2024? If not, you will not receive an income tax refund based on having dependent children.
The maximum amount of the child tax credit is now $2000 per child; the refundable “additional child tax credit” amount is $1700. In order to get that credit, you have to have income from working.
Take the amount you earned from working. Subtract $2500. Multiply the rest by 15%. That is the additional child tax credit per child that you can get—- up to the maximum of $1700 per child. If the amount you earned from working was low, you will not get the full $1700 per child.
If your child is older than 16 at the end of 2024, you do not get the CTC. But you may still get the non-refundable $500 credit for other dependents instead.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/child-tax-credit/L2lNhfGDl_US_en_US?uid=m68dfq2u
https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/additional-child-tax-credit/L6xFeMFEf_US_en_US?uid=lqnuygah
https://www.irs.gov/help/ita/does-my-childdependent-qualify-for-the-child-tax-credit-or-the-credit-for-other-dependents
And for the Earned Income Credit—-
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/qualifications-earned-income-credit-eic-eitc/L7w4BFP32_US_en_US?uid=m62rmz09
https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant
https://www.irs.gov/pub/irs-pdf/p596.pdf
Look at your 2024 Form 1040 to see the child-related credits you received
PREVIEW 1040
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/preview-turbotax-online-return-filing/L77WCkvnu_US_en_US?uid=m681fkhr
Child Tax Credit line 19
Credit for Other Dependents line 19
Earned Income Credit line 27
Additional Child Tax Credit line 28
Saturday
You have to access your own account and/or print it for yourself using exactly the same account and user ID that you used when you prepared the return.
https://myturbotax.intuit.com/
...
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You have to access your own account and/or print it for yourself using exactly the same account and user ID that you used when you prepared the return.
https://myturbotax.intuit.com/
Start a 2024 return online and enter some personal information so that the menu on the left opens up and lets you access your past year returns.
https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/01/27010
https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m5y4ch1y
Many people have multiple TT accounts and forget how to access them. Log out of the account you are in now.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx
Account Recovery
Or did you use the desktop version of TurboTax? If so, the files are on your own hard drive or any backup device you used like a flash drive.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/find-last-year-tax-data-file-tax-file-computer/L0XJvPaJr_US_en_US?uid=m6gufxei
https://ttlc.intuit.com/turbotax-support/en-us/help-article/data-systems/find-tax-data-file-mac/L4VNGm33S_US_en_US?uid=m6guhab0
You can get a free transcript from the IRS or for a fee of $30, an actual copy of your tax return.
https://www.irs.gov/individuals/get-transcript
https://www.irs.gov/pub/irs-pdf/f4506.pdf
SAVE YOUR TAX RETURNS !
EVERY year before mid-October you should save a copy of your tax return as a pdf and print a copy of it for your records. That way you will not be searching online frantically when you need it for a lender, FAFSA forms, your next tax return, etc.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m6guj526
https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m78eb8pc
In order to transfer a past year return to the new return you need the tax file
https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-turbotax-online-return-tax-data-file/L4xwOG3LF_US_en_US?uid=m6guk3xl
NOTE: TurboTax and the IRS save returns for seven years. Returns older than seven years are purged.
Saturday
1 Cheer
Agree, the less information you keep on another site - all the better. Any site can get hacked, we seen it in the past, but many forget. I had almost 40 years working as a system software tech and ...
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Agree, the less information you keep on another site - all the better. Any site can get hacked, we seen it in the past, but many forget. I had almost 40 years working as a system software tech and I can tell you for sure- I could get to all the data collected in the state. But , that is from the inside and is not as likely, but does happen. You need to also be more worried about attacks from outside- even other countries. People just don't understand what happens between pressing enter and your screen is refreshed. Lots of places to get your data and that is in addition to hacking directly into a company data site.
Saturday
Saturday
I suggest you calm down a bit and give the IRS time to enter your mailed return into the system. You say only that you have the certified mail response that it was received; that does not necessaril...
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I suggest you calm down a bit and give the IRS time to enter your mailed return into the system. You say only that you have the certified mail response that it was received; that does not necessarily mean a human at the IRS has entered that return into the system. You did not answer the question of how long ago they received it.
And...even if your son's amended return has been "accepted", that will not change things this year in terms of sorting out the duplicate use of his SSN on his own return and on yours. It takes four months or more for an amended return to be processed.
TurboTax gets no information from the IRS after you file your tax return. TT provided do-it-yourself software for you to prepare a tax return. TurboTax cannot intercede with the IRS for you.
Saturday
You have not actually asked a question. What is your question? Without more information, not sure if anyone will know how to reply. You have not told us if your daughter is a U.S. citizen or if...
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You have not actually asked a question. What is your question? Without more information, not sure if anyone will know how to reply. You have not told us if your daughter is a U.S. citizen or if she has income; you mention something about dependent children with no details, nor do we know if your daughter' spouse is a U.S. citizen or if he is a citizen of Italy, or of some other country. And...forgive me...but saying she needs to go to the U.S. to save on taxes sounds like there is a lot more to be concerned about in the marriage than income taxes.
Saturday
3 Cheers
I don't know about you guys. But I think anybody switching to the online version of TurboTax is crazy. I've been involved in a few data breaches. Does anybody on this forum realize that if TurboTax g...
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I don't know about you guys. But I think anybody switching to the online version of TurboTax is crazy. I've been involved in a few data breaches. Does anybody on this forum realize that if TurboTax gets breached when you do it online hackers have a whole lot of information about you. I would never ever ever consider doing my taxes online and giving all that information to somebody to hold for me. That's why I use the desktop version version. And until I get another computer I might use TurboTax again but probably not if they want to pull this stuff and don't extend out their 2025 version for the desktop on windows 10. I still think they could have waited one year and then done the switch.
Saturday
Thank you. His agreed return has been accepted. I mailed mine in April. No one will answer the phone except to day that there's nothing on record. But I have USPS proof they received it. No one is ab...
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Thank you. His agreed return has been accepted. I mailed mine in April. No one will answer the phone except to day that there's nothing on record. But I have USPS proof they received it. No one is able to help me and I don't live near Kansas City to just show up there myself. IRS won't even allow me to schedule an appointment at my local office since this situation doesn't involve a payment. They have hijacked my refund and TurboTax also seems unconcerned. How many copies should I continue to send when they will probably continue to lie about having it in their possession?