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No. Here's the difference: Because the BIRT is a tax on the privilege of doing business in Philadelphia, it only targets the portion of your business activity that actually occurs within city limits. The NPT functions more like a local income tax. The residency rules for NPT are strict: For Residents: If you live in Philadelphia, the NPT applies to 100% of your net profits, regardless of where the work was performed. Whether you are driving in California or Maine, if your "home base" is Philadelphia, the city views that profit as taxable by the city. For Non-Residents: Allocation only applies to people who live outside the city but do some work inside the city. 

 Verify these steps again to see if this was done correctly.   Go to federal>other common income>state and local refunds on Form 1099G. Select edit when you see your entry that is already reported Next screen says Tell us About the Refund Received in 2025 Here you will select the drop down for NY, select 2023 as the year, and the refund amount Next question, select yes. Continue until you see that the amount is not taxable. I checked this in my program, and it worked.

Thank you for this information. So as I am understanding it:   -There is no way to generate or fill out this form using turbotax web-edition.  -I instead have to print, fill out, and mail Form 5329 separately from my electronic filing.   I took the missed RMD last week and want to report it as part of 2025. How then do I go about reporting this distribution in my return using turbotax when I don't have a 1099-R which I would have normally received.   Thank you 

Thanks for chiming in about the exclusions, however I am not convinced I should enter in TT under "Sale of Home", because when I tried that TT specifically prompted me to enter it under "Sale of Business Property" (if said home had been used in a business which it had.) In addition, I really do need all my original questions answered! Thus again but maybe more briefly:   1) I think I need to enter each and every asset from the most current (2023) "Depreciation and Amortization Report" separately. Is that true? a) If true: Where and How in TurboTax is that done? b) If false: Do I simply need the total depreciation taken over the years for all assets associated with said Schd E to match with the depreciation amount I enter on the sale.  And furthermore I thought depreciation on Appliances was handled slightly differently during a sale, which is why I included the Depr Methods in my original post. 2) Is it important that the names of these Assets are identical to the names in the 2023 tax filing, so that the IRS can match them together?   Thank you! 

For interest on a Seller-Financed Loans - Click on Federal Click on Wages & Income Scroll down to Less Common Investments and Savings On Interest from Seller-Financed Loans, click on the start button

Your travel business goes on a schedule C.  In the 'Wages and Income' section of your federal return you should scroll down to 'Business Items' and click 'start' next to the first item.     The system will start out by asking you for details about your business and then ask about the income for the year.  Once you have entered all of that then the next screen will have a list of the different types of business expenses that you may have and help you with entering your expense information.  

If you are filing as Married Filing Separately you are not eligible for the deduction.  If you are Single and your AGI is over $175,000 or Married Filing Jointly and your AGI is over $250,000 you are not eligible for the deduction.   If you are age 65 or older and meet the requirement, the additional deduction is automatically added on your federal tax return.   Standard deductions for 2025 Single - $15.750 add $2,000 if age 65 or older Married Filing Separately - $15,750 add $1,600 if age 65 or older Married Filing Jointly - $31,500 add $1,600 for each spouse age 65 or older Head of Household - $23,625 add $2,000 if age 65 or older   New Bonus Standard Deduction (OBBB): An additional $6,000 deduction for taxpayers 65 and older. This is per eligible individual, meaning a married couple both over 65 could get $12,000. Important: This bonus deduction is temporary, lasting from 2025 through 2028. Income limitations: It phases out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers. The amount is calculated on Schedule 1-A, Part V, with that amount flowing to Form 1040 Line 13b Look at your Form 1040 - You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

I reviewed your redacted diagnostic file and was able to view and print Form 1040X.   If you are using TurboTax Online. Try closing TurboTax, clearing your cache and deleting your cookies. Review the TurboTax Help article How to clear your cache and How do I delete cookies? for specific instructions for your browser. Also, reboot your computer. Hopefully, you will be able to print after this.   If you still can't print, reply back.   You can check the status of your amended tax return at Where’s My Amended Return?

If it didn’t transfer over from last year then Enter a Capital Loss Carryover under Federal Taxes or Personal (Home & Business) Wages and Income Then scroll down to Investment Income Capital Loss Carryovers - Click Start or Revisit You enter the full amount that carried over, not just the 3,000   The carryover loss from last year will be on Schedule D line 6 (Short term) and line 14 (Long term). The current carryover loss to next year. Schedule D doesn't actually show the carryover amount. To find your Capital Loss Carryover amount you need to look at your return schedule D page 2. Line 16 will be your total loss and line 21 should be a max loss of 3,000. The difference between line 16 and 21 is the carryover loss. Then there are 2 worksheets…. Capital Loss Carryover worksheet showing the carryover from the prior year and the current amounts. Capital Loss Carry Forward worksheet showing the amount transferring over to next year. In the Online version you have to save your return with all the worksheets as a pdf file to your computer to see the Capital Loss worksheets. In the Desktop program you can switch to Forms Mode and open the worksheets.  

If you are filing as Married Filing Separately you are not eligible for the deduction.  If you are Single and your AGI is over $175,000 or Married Filing Jointly and your AGI is over $250,000 you are not eligible for the deduction.   If you are age 65 or older and meet the requirement, the additional deduction is automatically added on your federal tax return.   Standard deductions for 2025 Single - $15.750 add $2,000 if age 65 or older Married Filing Separately - $15,750 add $1,600 if age 65 or older Married Filing Jointly - $31,500 add $1,600 for each spouse age 65 or older Head of Household - $23,625 add $2,000 if age 65 or older   New Bonus Standard Deduction (OBBB): An additional $6,000 deduction for taxpayers 65 and older. This is per eligible individual, meaning a married couple both over 65 could get $12,000. Important: This bonus deduction is temporary, lasting from 2025 through 2028. Income limitations: It phases out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers. The amount is calculated on Schedule 1-A, Part V, with that amount flowing to Form 1040 Line 13b Look at your Form 1040 - You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.