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Hello everyone   We have a rental house that sat vacant for about two months before we began renting it out for the first time, and I have a couple of questions:   1) How do you calculate depreci... See more...
Hello everyone   We have a rental house that sat vacant for about two months before we began renting it out for the first time, and I have a couple of questions:   1) How do you calculate depreciation for a rental property? Could you share a useful source? The house is about 20 years old.   2) Besides mortgage interest, property taxes, insurance, repairs, maintenance, and utilities, is there anything else I can deduct for those two vacant months?   Best, 
Great!  That's what AI told me and I didn't know if I should believe it.  Thank you for confirming.  The way IRS words thing I find to be often confusing.
I prefer to use desktop version as well and I am not ready for Windows 11 yet. I think Turbobox should support Window 10 for 2025.  At least for another year because Microsoft will support Windows 10... See more...
I prefer to use desktop version as well and I am not ready for Windows 11 yet. I think Turbobox should support Window 10 for 2025.  At least for another year because Microsoft will support Windows 10 under end of 2026 (if requested).
Are you still experiencing problems? If so, please let us know where you are seeing this message.
Are you still having this problem?  If so, please let us know.
Any answer on this?  Is there any way to actually talk to TurboTax since this appears to be a software bug?
If the error is because the the state distribution amount is blank on the 1099-R screen, go back to the 1099-R in TurboTax and then enter the amount shown in Box 1 in Box 16 for the state distributio... See more...
If the error is because the the state distribution amount is blank on the 1099-R screen, go back to the 1099-R in TurboTax and then enter the amount shown in Box 1 in Box 16 for the state distribution.  This should clear the error.
@cmthompson09 I did as you said and filed thanks!    BTW two things, 1- When TT had it incorrect, for me reg tax loss was on erroneously on 2023 and QBI loss was on 2024. the refund was higher, it... See more...
@cmthompson09 I did as you said and filed thanks!    BTW two things, 1- When TT had it incorrect, for me reg tax loss was on erroneously on 2023 and QBI loss was on 2024. the refund was higher, it dropped once I corrected and placed it on same year. Meaning it appears on the surface the same, but in the calcs it makes a difference if the tax loss is recorded on same line as QBI loss or not, i saw it produce a bigger refund when not on same line. So in essence those who filed already without knowing of this issue, get a larger refund (for me it could of been 2k difference), but the refund could be flagged and not something worth an audit.   2- Now I logged in on TT online after i submitted through desktop, and guess what? they now show the form on TT 2025 online.... They don't fix the issue (which is bazar) but now the user can actually see the form and fix it on online rather than having to use Desktop, too late for me I used Desktop (which was cheaper by 25% from Costco) and it allows the tax preparer to see everything, no more magic behind the scenes... My advice, start on TT online, don't pay, then buy and download TT desktop, Desktop upon launch will allow you to download your online data, then you can get a more accurate filing done.   Fun fact, because i realized this in 2025, I looked back and realized same issue on my 2023 and it cost me $2000, working with TT help desk to get a refund from them as its clearly a TT issue while I file an amendment.   Bottom line - I should probably use a cpa next year, TT is high risk for property filings...    who knows what else TT screwed up.
If the Wash Sale occurred in the current tax year it won't be included in the stock transactions.  The lose will be added to the cost basis of the same stock that you bought to trigger the Wash ... See more...
If the Wash Sale occurred in the current tax year it won't be included in the stock transactions.  The lose will be added to the cost basis of the same stock that you bought to trigger the Wash Sale. This will be reflected when you sell the stock in the future. You can review the TurboTax article  Wash Sale Rule: What Is It, How Does It Work, and More
You would typically report these expenses, such as property taxes, on Schedule A (if you itemize).
To complete and file a 2024 tax return using TurboTax you would need to purchase, download and install on a personal computer one of the 2024 desktop editions from this website - https://turbotax.int... See more...
To complete and file a 2024 tax return using TurboTax you would need to purchase, download and install on a personal computer one of the 2024 desktop editions from this website - https://turbotax.intuit.com/personal-taxes/past-years-products/   A 2024 tax return can only be printed and mailed, it cannot be e-filed using TurboTax.
Single-member IRA LLCs are treated as a sole proprietorship for tax purposes. Generally, income is passed through to the single owner who reports any taxable income on their federal tax return.    ... See more...
Single-member IRA LLCs are treated as a sole proprietorship for tax purposes. Generally, income is passed through to the single owner who reports any taxable income on their federal tax return.    Because the income received by a Self-Directed IRA (SDIRA) is tax-exempt, the SDIRA itself doesn't need to report the income nor file a federal income tax return. If your IRA owns 100% of an LLC, it is disregarded for tax purposes as a single-member IRA LLC, and the LLC does not need to file.
@user17733262354  Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.   Once a tax return has been Accepted by the IRS or a State, TurboTax rec... See more...
@user17733262354  Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.   Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.   If accepted by the IRS use the federal tax refund website to check the refund status - https://www.irs.gov/refunds If accepted by the state use this TurboTax support FAQ to check the state tax refund status - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...   After the tax return has been Accepted by the IRS (meaning only that they received the return) it will be in the Processing mode until the tax refund has been Approved and then an Issue Date will be available on the IRS website.
I have not received my refund. It says it was accepted. It has been over a month.
@ joeenochcpa  We don't really know with certainty what you are doing and what platform you are using.   But I'll take a wild guess.     Are you by any chance using the Mac desktop version, and if s... See more...
@ joeenochcpa  We don't really know with certainty what you are doing and what platform you are using.   But I'll take a wild guess.     Are you by any chance using the Mac desktop version, and if so, are you trying to transfer the 2024 data file into a 2025 return?   Otherwise, you may need to explain the context of your question and what instructions you are referring to.
 You enter it as an investment sale.  On the screen for entering the sale, on What type of investment did you sell?  From the dropdown, Select Collectible   To enter an investment sale - Cl... See more...
 You enter it as an investment sale.  On the screen for entering the sale, on What type of investment did you sell?  From the dropdown, Select Collectible   To enter an investment sale - Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Under Investment Income On Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B, 1099-DA), click the start or update button Using the online editions -   On the screen Did you have investment income in 2025? click on Yes On the screen Save time and connect your financial accounts click on Enter a different way On the screen How do you want to add your docs?, select Type it in myself On the screen OK, let's start with one investment type, select Other and continue   @Rmaris
If you're trying to check the status of your refund: “The IRS guideline is that refunds are issued within 21 days”, provided they are: Electronically filed  With Direct Deposit,  And pro... See more...
If you're trying to check the status of your refund: “The IRS guideline is that refunds are issued within 21 days”, provided they are: Electronically filed  With Direct Deposit,  And provided there are no other issues. Things that can delay a refund: To check your tax refund status in TurboTax,  Sign in to your account and  Go to the "Tax Home" or "Order Details" screen  It'll tell you if your return was accepted. If you want to know the status of your tax return,  you should use the  IRS Where's My Refund website.  You'll need Your Social Security or individual taxpayer ID number (ITIN) Your filing status The exact refund amount on your return