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yesterday
Do you need to file a separate business return for it like a 1120-S or 1065 etc? Or do you need to file it on Schedule C in your personal tax return? Either way you can’t use Turbo Tax for free. ...
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Do you need to file a separate business return for it like a 1120-S or 1065 etc? Or do you need to file it on Schedule C in your personal tax return? Either way you can’t use Turbo Tax for free. You either need to use the Deluxe version or buy the separate Business Desktop program.
yesterday
file amended returns for AL. if the income was reported on w-2's or 1099s. You may want to call AL dept of revenue to find out what they want as proof the income is not taxable there. They may want ...
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file amended returns for AL. if the income was reported on w-2's or 1099s. You may want to call AL dept of revenue to find out what they want as proof the income is not taxable there. They may want the employer to file corrected tax forms and you to include copies with the amended returns.
yesterday
There’s an exception at the federal level: 401(k) fees are deductible to employers. If you own a business or are self-employed and sponsor a 401(k) plan, the plan administration fees, trustee fees, a...
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There’s an exception at the federal level: 401(k) fees are deductible to employers. If you own a business or are self-employed and sponsor a 401(k) plan, the plan administration fees, trustee fees, and other costs you pay can typically be treated as ordinary business expenses.
Section 162 of the tax code lets businesses deduct “ordinary and necessary” expenses, and that includes the cost of running a retirement plan for employees.
there would be an issue if the CFP managed your personal IRA's and charged the fee to the corporation.
yesterday
My company had me paying AL taxes instead of MS for the past several years. Because of this, we've had to owe MS & get a small amount back in refund from AL. How do I fix this?
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yesterday
turbotax is taking the fees assuming i am doing filing with revenue and expenses to be reported, can i somehow avoid paying fees as there are no income or expenses
yesterday
Should I delete those 2 and hit "add" to report my 2024? It really feels like its asking for the last 2 years but why?
yesterday
Financial institutions have to choose whether they want to partner with TurboTax to allow importing data into the software. Apparently yours has not chosen to do so.
NOT ON THE DROP DOWN ...
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Financial institutions have to choose whether they want to partner with TurboTax to allow importing data into the software. Apparently yours has not chosen to do so.
NOT ON THE DROP DOWN LIST
If your bank or financial institution is not on the drop down list, click the words “I’ll type it in myself” and key in your information by hand.
See if your financial institution is on the Partner List - If not, you will have to enter the information manually.
yesterday
You can work around some of the 2024 limitations. Like if you are running up on the $10,000 limit on state and property tax deductions you can enter the additional 30,000 under Charity deductions to...
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You can work around some of the 2024 limitations. Like if you are running up on the $10,000 limit on state and property tax deductions you can enter the additional 30,000 under Charity deductions to get the full 40,000 deduction for itemized on Schedule A.
yesterday
Why is my financial institution ONPOINT CCU not found in your list of supported providers?
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yesterday
Sorry---unless you have a tax file to transfer, you will need to start your 2024 return from scratch. If the accountant gave you a pdf, nothing much will transfer from that except for some personal...
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Sorry---unless you have a tax file to transfer, you will need to start your 2024 return from scratch. If the accountant gave you a pdf, nothing much will transfer from that except for some personal information like your name and address and SSN.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/transfer-last-year-return-turbotax-online/L279eUvY2_US_en_US?uid=m6ayqk1s
yesterday
How much to transfer last year's (2023) return? About 52 pages
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yesterday
@MICKEY79 The 2024 software was written to prepare 2024 tax returns under the tax laws as they existed ---long before the very new tax bill was signed into law. It is somewhat unrealistic to expec...
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@MICKEY79 The 2024 software was written to prepare 2024 tax returns under the tax laws as they existed ---long before the very new tax bill was signed into law. It is somewhat unrealistic to expect the 2024 software to be hastily rewritten for new tax laws that do not affect 2024 returns.
If there are specific things that you are concerned about for your upcoming 2025 return, you might want to attend the "Ask the Experts" event that is happening on August 6----tax experts will be available to reply to your questions about the newly signed tax bill.
https://ttlc.intuit.com/community/events/tax-law-changes-one-big-beautiful-bill-ask-the-experts/ec-p/3693099#M75
yesterday
In addition to answering the questions that xmasbaby0 asked, please clarify what you mean by "the portion that I receive for caregiving." Portion of what? Where does the money for caregiving come fro...
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In addition to answering the questions that xmasbaby0 asked, please clarify what you mean by "the portion that I receive for caregiving." Portion of what? Where does the money for caregiving come from? In what way is part of the money that you receive designated as being for caregiving? You said that you are no longer the paid caregiver.
If the children receive Social Security survivor benefits, that is not payment for caregiving.
Are you getting Medicaid waiver payments? You normally would get a W-2 for that, or a 1099-MISC. You said "There is no W-2." Did you get a 1099-MISC or a 1099-NEC?
yesterday
I understand the IRA fees are not deductible but we provide a 401k and are switching to a CFP who charges a quarterly fee to manage. Is this fee deductible from our 1120S tax form?
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yesterday
To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/
Scroll down to the bottom of ...
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To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/
Scroll down to the bottom of the screen and on the section Your tax returns & documents. Click on the Year and Click on Download/print return (PDF)
Or -
When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state.
This will take you back to the 2024 online tax return.
Click on Tax Tools on the left side of the online program screen. Then click on Print Center. Then click on Print, save or preview this year's return. Choose the option Include government and TurboTax worksheets
If you used the desktop CD/Download editions installed on your computer, the only copy of your tax data file and any PDF's will be on the computer where the return was created. TurboTax does not store online any returns completed using the desktop editions.
yesterday
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yesterday
I need to talk to Alive agent
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yesterday
The income levels are different. The income needed to file a return (in most cases, for a single person) is $15,000, but the level of income that stops you from claiming them as a dependent is $5050...
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The income levels are different. The income needed to file a return (in most cases, for a single person) is $15,000, but the level of income that stops you from claiming them as a dependent is $5050. So they might not be required to file but still be ineligible to be your dependent.
yesterday
So you saying that the WHAT IF WS in TURBO TAX 2024 is useless since it cannot be used to estimate 2025 taxes. This doesn't sound like a good marketing approach to me.
yesterday
So can you install Turbo Tax on your computer? You said in your original question that the Desktop program does not work on your computer. You can buy any Desktop version. All the Desktop prog...
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So can you install Turbo Tax on your computer? You said in your original question that the Desktop program does not work on your computer. You can buy any Desktop version. All the Desktop programs have the same forms. You will just get more interview help in the higher versions. So you may want to get the Home & Business version for your self employment independent contractor income.