All Posts

If you are unable to move forward in your TurboTax program, you can try the steps listed below.  Go out of your program, close your browser and go back in. Clear your cache and cookies. Click here for How to clear your cache. Click here for How do I delete cookies? Try a different Web browser, such as Chrome or Firefox. If you are using a VPN, disable it. Make sure your internet connection is strong and stable Try using incognito mode If you are using TurboTax Desktop, you can manually check for updates for  your TurboTax program by clicking on "Online" in the black bar near the top of your screen and selecting "Check for Updates."  You can also contact TurboTax Customer Service using this link: Turbo Tax Customer Service.    Please return to Community if you have any additional information or questions and we would be happy to help

Your approach to calculating the portion of your interest taxable by New York is correct.  In fact, it's probably more detailed than what is expected/required by the New York Department of Taxation and Finance.  Unless the amounts were very large, applying the percentage of days in the period to the interest paid would have been an acceptable way to calculate the NY portion.   

Form 3468 (Investment Credit) in TurboTax generally can be removed unless it is linked to other entries or credits that depend on it. For example, if you have entered information that claims investment credits or related carryovers, the form might be required to complete your return accurately. If TurboTax prevents removal, it may be because the form is needed to support other deductions or credits you claimed elsewhere in your return.   To delete Form 3468 in TurboTax Online, follow these steps: 1. Open or continue your tax return. 2. In the left menu, select Tax Tools and then Tools. 3. Choose Delete a form from the Tool Center pop-up. 4. Find Form 3468 in the list of forms. 5. Select Delete next to Form 3468 and confirm the deletion. If Form 3468 reappears, review your answers about investment credits to ensure none require the form.    

My advice would be to calculate the home office property taxes yourself and then enter that as a direct expense for your home office. On Deductions for Schedule A, enter the difference, only the home space percentage. This should eliminate the duplication and show the correct amounts of real estate taxes in each section.   If you need further assistance please update here with details and we will help.

Note that you have the option to answer "No" to the Safe Harbor question. You will then be asked if your rental is considered a trade or business. If you answer Yes to this question, the rental income will be included in the QBI calculation.    As Expert DanielV01 mentioned, "While the IRS can certainly question any claim regarding QBID, in general, the more "profit-motive" is shown in the enterprise, the more likely that the enterprise will be allowed for the Section 199A deduction. This is especially so with regards to rental income to determine if such rises to the level of a business per Section 162 of the tax code. (The preceding statement is tax advice and not legal advice)."   If you decide to use the Safe Harbor election, your best option is to contact the management company and explain what you need. While there may not be a standard name for the report, they should be aware of the IRS requirement to document their work for your rental property.   To add the Annual Election Statement to your return, you would need to transfer your TurboTax Online return to TurboTax Desktop. (TurboTax Online does not support creating attachments.) See the instructions here: How do I switch from TurboTax Online to the TurboTax software?   Once you have switched to TurboTax Desktop, open your return and click the Forms icon in the TurboTax header. In the left column, click Open Form, then type in "Blank Form." Click on the form to open it in the large window. You can now type in the statement you need to include with your return, per Mike9241's previous post.

It depends. These are two common reasons why this may have happened.    If your total itemized deductions or standard deduction (plus other adjustments) brings your taxable income to $0 (or very low), you technically owe no U.S. tax. If you owe $0 in U.S. tax, the IRS won't give you a credit for taxes paid to a foreign country because there is no "double taxation" to offset.   Foreign dividends are often "Qualified Dividends," which are taxed at lower rates (0%, 15%, or 20%). If your overall income puts you in the 0% or 10% bracket, your U.S. tax on those dividends might be effectively $0, which zeros out the credit.    

In TurboTax, the amount from Federal Schedule D line 11 (total capital gain or loss) generally flows automatically to your state tax return where required. This automatic transfer ensures consistency between your federal and state filings. If you do not see this amount appearing on the state capital gains section, verify that your federal return is complete and the state section is entered correctly, as state computations depend on your federal data.

I believe that I confused the system as I tried to amend previous year's tax returns that were filed with TurboTax Online using the desktop version.  Now there seems to be no way to get back to amending online.   This brings up a follow up question which is:    When amending a return using TurboTax Desktop software, I am seeing that the Amend License includes one state's software.  These returns were filed for two states.  Is there a way to carry over the second state license from TurboTax Online?   Thanks!

If you are using TurboTax Online, you cannot prepare and file a tax return for another person using an existing TurboTax account. You'll need to create a new account, distinct from the account you used to file the first return.   If you are using TurboTax Desktop, you can start a new return by clicking on Start a new return on the Welcome page of TurboTax.   Please read this TurboTax Help topic on how to start a new tax return for another person.