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Tuesday
@Andretti92 wrote:
What about if you are using a rental car for a month? I'm paying for the rental, I have my own car insurance which covers me, and I also got the damage waiver (insurance from ...
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@Andretti92 wrote:
What about if you are using a rental car for a month? I'm paying for the rental, I have my own car insurance which covers me, and I also got the damage waiver (insurance from the rental company). Gas too. I know I'm not performing maintenance tasks and repairs but I am using it for my self-employed business which I commute all over the place.
If not it would kind of stink to miss out on a months worth of deductions just because my car is in the shop!
You can't use the standard mileage method for a vehicle you don't own. You must use the actual expense method. See publication 463.
https://www.irs.gov/forms-pubs/about-publication-463
In this case, that means you must keep track of all your expenses for the rental car (the rental fees, gas and anything else) and you must keep a log of your mileage (date, purpose of trip, mileage) for both personal and work trips. Then deduct the percent of actual expenses that matches the percent of business use.
Also note that if the rental period is more than 30 days, and the car has a value higher than a set amount (a luxury car) there are some limitations. See the "inclusion rule" in publication 463.
Tuesday
"processing" returns they received in April does not mean they have finished with them. Sorry....but you just have to wait out the IRS.
If you want to call the IRS:
Call the IRS: 1-80...
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"processing" returns they received in April does not mean they have finished with them. Sorry....but you just have to wait out the IRS.
If you want to call the IRS:
Call the IRS: 1-800-829-1040 hours 7 AM - 7 PM local time Monday-Friday When calling the IRS do NOT choose the first option re: "Refund", or it will send you to an automated phone line. So after first choosing your language, then do NOT choose Option 1 (refund info). Choose option 2 for "personal income tax" instead. Then press 1 for "form, tax history, or payment". Then press 3 "for all other questions." Then press 2 "for all other questions." - When it asks you to enter your SSN or EIN to access your account information, don't enter anything. - After it asks twice, you will get another menu.
Press 2 for personal or individual tax questions. Then press 3 for all other inquiries It should then transfer you to an agent.
Tuesday
You do not mention why you want to amend a 2020 return. It is too late to amend 2020 to get a better refund. Why do you want to amend?
Tuesday
When the return was rejected, you received an email telling you why it was rejected. There was either a rejection code or a rejection message. Many rejections are for AGI, which is only needed in ...
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When the return was rejected, you received an email telling you why it was rejected. There was either a rejection code or a rejection message. Many rejections are for AGI, which is only needed in order to e-file. AGI no longer matters if you are trying to file a past year return. A past year return can only be filed by mail; it cannot be e-filed. You will need to print, sign and date it in ink, and mail it. You have not mentioned what tax year the return is for. If it is for a year earlier than 2022, the refund has been forfeited and will not be paid. If you owe tax due, it is owed with late filing penalties and interest, for which the IRS will bill you later.
Now it is too late to use online software or to e-file. If you have any changes/corrections at all to make to your past year return, you now have to complete it using desktop software, which you must download to a full PC or Mac (not to a mobile device).Then you need to print, sign and mail it.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/printers-printing/finish-prior-year-return-started-turbotax-online/L9Oe4M90A_US_en_US?uid=m68tffpe
If you already paid for your online software you can ask customer support for a download of the desktop software.
They are available from 5 a.m. to 5p.m. Pacific time Monday - Friday Pacific time.
https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number
If you are getting a refund, there is no penalty for filing late. If you owe tax due, then file and pay the amount due as shown on the Form 1040, but expect a bill later from the IRS for the penalty and interest you will owe. Only the IRS will calculate this—TurboTax will not calculate it.
When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s. Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS/state received the return.
Federal and state returns must be in separate envelopes and they are mailed to different addresses. Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.
Tuesday
@Impulse wrote:
"After hours entering tax data, i noticed that i failed to import prev year's file. Can i do this WITHOUT having to start new return? If not, it would be nice feature."
It would...
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@Impulse wrote:
"After hours entering tax data, i noticed that i failed to import prev year's file. Can i do this WITHOUT having to start new return? If not, it would be nice feature."
It would be impractical at best, and probably impossible, for TurboTax to implement a feature to transfer data from the previous year after the new tax return has been started. There would be numerous redundancies and conflicts between the data transferred from the previous year and the data already entered manually for the new year. It would be impossible for the software to resolve those conflicts.
Tuesday
What about if you are using a rental car for a month? I'm paying for the rental, I have my own car insurance which covers me, and I also got the damage waiver (insurance from the rental company). Gas...
See more...
What about if you are using a rental car for a month? I'm paying for the rental, I have my own car insurance which covers me, and I also got the damage waiver (insurance from the rental company). Gas too. I know I'm not performing maintenance tasks and repairs but I am using it for my self-employed business which I commute all over the place. If not it would kind of stink to miss out on a months worth of deductions just because my car is in the shop!
Tuesday
See the highlighted status for 1040X below. They are processing amended returns for April 2025. I e-filed my amended return in March 2025. Form 1040 series Original: May 2025 Amended: April 2025
Tuesday
Yes!!!! I Finally gotten everything thing done. Just waiting for my e-file to be deposited in my account. Thank you.
Tuesday
Topics:
Tuesday
1 Cheer
Your IRA or 401K plan should automatically tell you how much you need to take. They should send you a letter at the beginning of each year when you need to take the RMD. Or you can probably find it...
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Your IRA or 401K plan should automatically tell you how much you need to take. They should send you a letter at the beginning of each year when you need to take the RMD. Or you can probably find it online in your IRA account.
Tuesday
You probably don't need to have any New Jersey tax withheld. New York tax rates are higher than New Jersey, so you will end up paying tax only to New York, unless you have other income besides your w...
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You probably don't need to have any New Jersey tax withheld. New York tax rates are higher than New Jersey, so you will end up paying tax only to New York, unless you have other income besides your wages, such as investment income, that is taxable in New Jersey. You will file a New York nonresident tax return and a New Jersey resident tax return. You will pay the full New York tax on your income from the job. Your New Jersey tax return will calculate NJ tax on the income from the job, but you will get a credit on your NJ tax return for the tax you pay to NY, but not more than the NJ tax. The NY tax will be higher than the NJ tax, so the credit will completely cancel out the NJ tax.
Any income you have other than from the job is subject to NJ tax that will not be offset by the credit. If you will owe a significant amount of NJ tax you can make estimated tax payments to NJ. Your NY employer probably cannot withhold NJ tax because they are not a NJ employer. That's why they didn't ask you to fill out an NJ-W4.
Tuesday
@vsun ,
(a) Yes I see that a NZ employee/participant whom has move to another country ( not Australia) and after 1 year minimum of being abroad can withdraw the savings in the program My ref -- ...
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@vsun ,
(a) Yes I see that a NZ employee/participant whom has move to another country ( not Australia) and after 1 year minimum of being abroad can withdraw the savings in the program My ref -- Getting my KiwiSaver savings when I move overseas. Further ref . is -- KiwiSaver Act 2006 No 40 (as at 01 July 2025), Public Act – New Zealand Legislation.
(b) Based on the above , if you use the lump-sum distribution, your amount should consist of already taxed amounts ( employer contribution plus that of the employee) PLUS growth over the years ( and un taxed by NZ). My impression is that this "growth" amount is not taxed when distributed ( post superannuation for sure ). I am unsure of whether this growth is taxed if distribution occurs because the employee/ citizen is no longer a NZ resident.
(c) As I said earlier, if you do proceed with the early distribution, then for the US return you have to use a dummy 1099-R mechanism showing the total distribution received , and the growth portion as taxable. This would mean US will tax you on that grwoth ONLY. Please keep good records to show how you computed the "taxable " portion of the distribution.
(d) The tax treaty between US and NZ, has no direct reference to Kiwisaver under pension/annuity . However, there is small ref. about all incomes not directly ref'd in the treaty ( but under the general heading of income) can be taxed by the country of residence. Thus US will tax this income.
(e) Since the taxation of the contributions took place prior to your wife moving to US ( and coming under US tax regs. ), those taxes are NOT eligible for Foreign Tax Credit ( double taxation avoidance ). However if NZ taxes the growth in the Kiwisaver account then that tax will be eligible for FTC .
If this has answered your query , please mark this as accepted ( and thereby close this thread) or please tell me what more I can do in that regard .
pk
Tuesday
https://ttlc.intuit.com/community/business-taxes/discussion/where-to-enter-my-section-481-a-adjustment-for-unclaimed-depreciation/00/2885350
Tuesday
Hi.. Thank you for the additional information. Q: How would I know when IRS updates Life Expectancy tables? Would I be able to get the notification if there is any? Thank you,
Tuesday
I don't know about that message. But here's some things to try. Do you have the tax data file ending in .tax2024? Can you start a new return? Try closing everything and rebooting your computer. ...
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I don't know about that message. But here's some things to try. Do you have the tax data file ending in .tax2024? Can you start a new return? Try closing everything and rebooting your computer. Oh, and if you are on Windows try updating Windows. After you get the program installed or reinstalled the first thing to do before you open your tax return is to update the program and install any state programs you had. Then open your file. So you first might need to start a fake return to be able to download the state program (go to FILE - NEW). Enter some basic information, then go to the state tab and download the state program. Then try to open your existing return, go to FILE - OPEN
Tuesday
2024 return started on computer that no longer works. 2024 Turbo Tax file copied to new computer. Downloaded Turbo Tax program to new computer. Turbo Tax program will not open 2024 Turbo Tax file. Re...
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2024 return started on computer that no longer works. 2024 Turbo Tax file copied to new computer. Downloaded Turbo Tax program to new computer. Turbo Tax program will not open 2024 Turbo Tax file. Received message "Turbo Tax is already running under another account. Switch user and run Turbo Tax from the other account."
Tuesday
@alsn Well-- you are looking at information that refers to an original Form 1040--not 1040X. The IRS "average" to process an original return is 21 days, although it can be less or more days.
...
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@alsn Well-- you are looking at information that refers to an original Form 1040--not 1040X. The IRS "average" to process an original return is 21 days, although it can be less or more days.
Amended returns take much longer----at least four months and often longer.
You can watch for information here:
https://www.irs.gov/Filing/Individuals/Amended-Returns-(Form-1040-X)/Wheres-My-Amended-Return-1
Tuesday
The amended return (e-filed on 3/25/2025) has still not been processed. Any idea why it is still not processed since the processing dashboard shows the following? (Currently processing amended return...
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The amended return (e-filed on 3/25/2025) has still not been processed. Any idea why it is still not processed since the processing dashboard shows the following? (Currently processing amended returns for April 2025). Individual returns Electronically filed Form 1040 returns are generally processed within 21 days. We’re currently processing paper returns received during the months below. Form 1040 series Original: May 2025 Amended: April 2025 This does not include those that require error correction or other special handling. We generally process paper returns where a refund is expected before all other returns. https://www.irs.gov/help/processing-status-for-tax-forms
Tuesday
But other ones do show up? Are you in the right account? Or did you use the Desktop program? Don't think we can help you here in this user forum. How to contact Turbo Tax https://ttlc.intuit.com...
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But other ones do show up? Are you in the right account? Or did you use the Desktop program? Don't think we can help you here in this user forum. How to contact Turbo Tax https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-contact-turbotax/00/26991 For Online, How to view all your accounts https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx It's common to end up with multiple accounts. First LOG OUT of whatever TurboTax account you're logged into right now. Then use this TurboTax account recovery website to get a list of user ID's for an email address. Run the tool against any email addresses you may have used https://myturbotax.intuit.com/account-recovery/