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yesterday
I am doing my mom's tax return. She's in a medical facility. She doesn't have an email or cell phone. Can I prepare her return with my email & cell number?
yesterday
I found the solution. Morgan Stanley had me change my password to be under 32 characters. Once I did that, I was able to download my statements.
yesterday
2022 taxes not filed & turbo tax has my info
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yesterday
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Having done further research, I have amended my answer above.
The excise tax of 6% is due in every subsequent year where the excess remains as of December 31 of that year (see IRC Section 4973).
yesterday
1 Cheer
#7 is wrong, the answer is no. You did not have employer contributions not on your W-2 or made in 2025 for calendar year 2024. And then you should not be asked #8, because that is asking about empl...
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#7 is wrong, the answer is no. You did not have employer contributions not on your W-2 or made in 2025 for calendar year 2024. And then you should not be asked #8, because that is asking about employer contributions, not your own contributions that were already reported last year. Change that and see if the problem resolves.
Note that all payroll contributions are considered by the tax code to be employer contributions. The idea is that you agree to a voluntary salary reduction and your employer contributes the money for you. That's how this type of benefit plan works. In
yesterday
Thank you, Ms Monika. Indeed the penalty amount was first calculated without the interview questions being fully completed. Strange that the penalty amount changes slightly from the default, ...
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Thank you, Ms Monika. Indeed the penalty amount was first calculated without the interview questions being fully completed. Strange that the penalty amount changes slightly from the default, and now I can view the computation inside the form 2210 worksheet now from Print Center. Thank you for the help!
yesterday
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yesterday
Thank you for providing a token so that I can review your situation. Forgive me, but I don't understand the reason for filing an Oklahoma return. I don't see any income attributable to Oklahoma, inc...
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Thank you for providing a token so that I can review your situation. Forgive me, but I don't understand the reason for filing an Oklahoma return. I don't see any income attributable to Oklahoma, including the Capital Gains. What am I missing? @Michael-McGarrett
yesterday
i need to enter info from 2024 tax return to 2025 tax
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yesterday
Tengo un w2 cómo se si me toca oh no reembolso?
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yesterday
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yesterday
Do I exclude total preschool expenses from total amount of care expenses I need to enter in?
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yesterday
I inherited a rental property in 2024. For the start of year 2025, I instructed my property management company to hold the property for sale and not rent it. There were some expenses and costs for re...
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I inherited a rental property in 2024. For the start of year 2025, I instructed my property management company to hold the property for sale and not rent it. There were some expenses and costs for repairs that I paid the property management company. I sold the property in October 2025. Because I did not attempt to rent the property in all of 2025, TurboTax Business is indicating that I should delete the rental property in TurboTax and (I'm assuming) input it as a second home that I sold in 2025. Is this correct?
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yesterday
It gives the option to import, takes userId and password and connect to Robinhood, but comes back with no account found. I have over 300 transactions in there, it will take hours if not days to ente...
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It gives the option to import, takes userId and password and connect to Robinhood, but comes back with no account found. I have over 300 transactions in there, it will take hours if not days to enter the information. The reason I took premier is to solve this problem.
yesterday
That is usually a YES or NO question - see Is my business investment at risk?
You should probably answer yes, assuming you own a sole proprietorship or other Schedule C business. In the tax ...
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That is usually a YES or NO question - see Is my business investment at risk?
You should probably answer yes, assuming you own a sole proprietorship or other Schedule C business. In the tax world, "at risk" simply means that the business owner is personally liable for the business's losses. It has nothing to do with the business's chances of success or failure.
It's uncommon for Schedule C businesses not to be at risk, but this can happen if the business is funded with nonrecourse loans, money, or property protected by a stop-loss agreement or loans from a non-creditor who has an interest in the business. In those cases, the business owner isn't allowed to take a loss on money or property they weren't "at risk" of losing in the first place.
Review this in the Self-Employment section - Schedule C. Do you have a checkmark next to at-risk losses? If so, TurboTax will ask you for an amount. If it is zero, remove the checkmark there.
yesterday
TurboTax will calculate the QBI loss associated with your rental activity and enter it on Form 8995, on line 1. Assuming the rental qualifies as an active business, as opposed to a passive rental...
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TurboTax will calculate the QBI loss associated with your rental activity and enter it on Form 8995, on line 1. Assuming the rental qualifies as an active business, as opposed to a passive rental, the net loss on it in the current year would be a qualifying business income (QBI) loss. As such, it would reduce QBI income reported elsewhere on your tax return and any unused loss would be carried forward to the next year. It is important to note that a QBI loss can only be used to reduce QBI income, it does not therefore represent a deduction from taxable income. If you had QBI loss carryovers from a previous year, the current year QBI loss would be added to the carryover loss to arrive at the QBI loss available in the current year. If you have a passive rental loss, the QBI loss associated with it would be limited to the amount of the loss that is deductible against income in the current year. You can typically deduct up to $25,000 of a passive rental loss against ordinary income in a year, provided your income is under $150,000. An Airbnb would typically qualify as a active business if your average rental period was less then seven days and you were materially involved in the business, as opposed to being a passive investor.
yesterday
I'm not trying to add a password to the tax file, so the first steps are not relevant to the situation. I am trying to add a password to the PDF. Yes, I can do that with the Preview app. However, Tur...
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I'm not trying to add a password to the tax file, so the first steps are not relevant to the situation. I am trying to add a password to the PDF. Yes, I can do that with the Preview app. However, TurboTax misleads you into thinking it has added one when it has not. I've now given TurboTax full disk access, but that made no difference, and other apps that can successfully save a PDF with a password work without giving them full disk access. I should also clarify that I have been using the Print to PDF support. Save to PDF does not give you the option of adding a password and also doesn't let you choose what to include in the PDF.
yesterday
Cesar, Under INCOME section, I am looking at: - BUSINESS ITEMS / Business Deductions and Credit --- I click UPDATE and pick SELF EMPLOYED HEALTH INSURANCE PAID -- click UPDATE; but I cannot make ...
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Cesar, Under INCOME section, I am looking at: - BUSINESS ITEMS / Business Deductions and Credit --- I click UPDATE and pick SELF EMPLOYED HEALTH INSURANCE PAID -- click UPDATE; but I cannot make any changes -- --- it says " we have deducted, from your income, $3,971 of allowable self employed health insurance attributed to your Sch C --- No opportunity to delete or change this number Appreciate your guidance
yesterday
If you actively participate in the rental activity up to $25,000 in losses can offset your other income, provided your income is $100,000 or less. As income increases above $100,000, the maximum ded...
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If you actively participate in the rental activity up to $25,000 in losses can offset your other income, provided your income is $100,000 or less. As income increases above $100,000, the maximum deduction amount is phased out until it is disallowed at incomes of $150,000 or above.
The IRS rules for material participation are spending 500 hours a year on the activity (roughly 10 hours a week), or greater than 100 hours per year, provided no one else works more than you do. If you don't spend more than 500 hours per year on the rental, you can still be considered a material participant if you provide substantially all the work. You also should be keeping a log of the time you spent on the rental. If material participation looks like it will work for you and you provide "hotel-like" services for your guests, you could report this income as material participation on a Schedule C and that will allow you to claim annual losses for a short term rental with an average stay of 7 days or less on your tax return. A possible downside is that Schedule C income is subject to the self-employment tax - but only on profits.