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If the subsidy paid the entire bill, then you would answer No, since you can't deduct a cost you didn't actually incur.    However, to ensure you did in fact pay zero, review your Form 1095-A and... See more...
If the subsidy paid the entire bill, then you would answer No, since you can't deduct a cost you didn't actually incur.    However, to ensure you did in fact pay zero, review your Form 1095-A and look at Column A (Monthly Premium) and Column C (Monthly Subsidy).   If Column A is exactly the same as Column C for every month, your cost was truly zero, so answer No.   However, if Column A is more than Column C, you technically did pay a premium, in which case, you can answer Yes and TurboTax will help you calculate the deduction for that portion.   Note: Even if you paid zero, the IRS still requires that you enter your Form 1095-A in your tax return.
You mentioned an irrevocable trust in your first post but only the Will for guidance in your latest post. Did the Will establish a trust or not? It doesn't make a huge difference in practical terms b... See more...
You mentioned an irrevocable trust in your first post but only the Will for guidance in your latest post. Did the Will establish a trust or not? It doesn't make a huge difference in practical terms but if there's no trust the estate should be closed at some time.   The instrument you have should indicate whether you have the authority or discretion to treat capital gains as income and distribute them as such. If you do, then you can treat the gains as income and include them as income and for distribution. in the final year the gains are obviously distributed as is all principal.
I am assuming because you mentioned that they have SSNs from the "time they lived in the USA", that they no longer live in the USA.  Since they also are not citizens nor permanent residents (green ca... See more...
I am assuming because you mentioned that they have SSNs from the "time they lived in the USA", that they no longer live in the USA.  Since they also are not citizens nor permanent residents (green card holders) then they do not have an obligation to file a US tax return, so you are not their tax dependent.  While you are likely not "independent" in the eyes of your school for things like financial aid, you are likely independent for tax purposes and can state on your tax return that you are not a dependent of another.   If you do file Form 8615 then you do list their SSNs and their income would be 0.  There is a slight chance that their SSNs would not be active in the system causing a rejection and then the tax return would need to be filed by mail.  However, if my assumption above is correct (and your parents were not in the US for more than 183 days in 2025) then you can file your US taxes as an "independent" individual.  You do not need to report funds that your parents paid for your tuition, occasional meals or Amazon orders, or flight tickets as gifts or income.  You will only file Form 3520 (the form to report gifts from noncitizens) when you receive more than $100,000 in gifts in a year.       
Since I moved to a new state, I kind of like the first solution since I think state taxes would be murky if I didn't separate the businesses? Not sure. 
No is the correct answer because it is not a contribution.
To claim any credit, the foreign school must be an eligible educational institution recognized by the U.S. Department of Education. You can verify this on the Federal Student Aid website or check if ... See more...
To claim any credit, the foreign school must be an eligible educational institution recognized by the U.S. Department of Education. You can verify this on the Federal Student Aid website or check if they have an OPEID number. If you know they qualify, follow these steps in TurboTax:   Go to Deductions & Credits > Education > Expenses and Scholarships (Form 1098-T). When asked "Did you get a 1098-T?", select No. On the next screen, look for the question about exceptions. Select the box for "I qualify for an exception". The IRS allows an exception for students at eligible institutions that are not required to furnish a 1098-T. Provide the name and address of the school. If it asks for a zip code, look for a checkbox or dropdown to indicate it is a foreign address to bypass the U.S. zip code format. When prompted for the Federal ID, look for an option that says "I can't find the ID" or leave it blank if the program allows you to continue after selecting the exception.
To enter alimony paid - Click on Federal Taxes (Personal using Home and Business) Click on Deductions and Credits Click on I'll choose what I work on (if shown) Scroll down to Other Deductions a... See more...
To enter alimony paid - Click on Federal Taxes (Personal using Home and Business) Click on Deductions and Credits Click on I'll choose what I work on (if shown) Scroll down to Other Deductions and Credits On Alimony Paid, click the start or update button
If you were legally married at the end of 2025 your filing choices are married filing jointly or married filing separately when you prepare your 2025 return.   Married Filing Jointly is usually b... See more...
If you were legally married at the end of 2025 your filing choices are married filing jointly or married filing separately when you prepare your 2025 return.   Married Filing Jointly is usually better, even if one spouse had little or no income. When you file a joint return, you and your spouse will get the married filing jointly standard deduction of $31,500 (+ $1600 for each spouse 65 or older)  for 2025. You are eligible for more credits including education credits, earned income credit, child and dependent care credit, and a larger income limit to receive the child tax credit.    If you choose to file married filing separately, both spouses have to file the same way—either you both itemize or you both use standard deduction. Your tax rate will be higher than on a joint return.    Some of the disadvantages of filing separately include:    You cannot get earned income credit,  You cannot get education credits or deductions for student loan interest.  You cannot get the childcare credit You have a lower amount of income on which to base the refundable additional child tax credit 85% of your Social Security benefits will be taxable even with no other income  The amount you can contribute to a retirement account will be limited. Capital loss deduction is less than if you file jointly You cannot get the $6000 senior deduction You cannot get the deductions for overtime or tips    If you live in a community property state, you will be required to provide additional information regarding your spouse’s income. ( Community property states:  AZ, CA, ID, LA, NV, NM, TX, WA, WI) and your returns become very complicated.    If  you are using online TurboTax to prepare your returns, you will need to prepare two separate returns and pay twice since with online, you get one return per fee.     https://turbotax.intuit.com/tax-tips/marriage/should-you-and-your-spouse-file-taxes-jointly-or-separately/L7gyjnqyM?srsltid=AfmBOopGqCNexowW0pYgvsf7ycIkrx4VjO_63UXv6vSnfu3UEGQiKQTh   https://ttlc.intuit.com/turbotax-support/en-us/help-article/income/getting-married-mean-taxes/L2RgmagpE_US_en_US?uid=m69on7t0     https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/married-filing-separately-community-property/L11CeLUMs_US_en_US?uid=m69ousyh
You will not be allowed to submit a return that amends from married filing jointly to married filing separately after the filing deadline on April 15--just so you know.    If you are amending to ... See more...
You will not be allowed to submit a return that amends from married filing jointly to married filing separately after the filing deadline on April 15--just so you know.    If you are amending to MFS, you have to file TWO returns--one for each spouse.   One of you can use the original joint return and change it to MFS; the other one must create and file their own MFS return.  And of course you both have to follow the rules for MFS.   If one of you itemizes deductions, both must itemize; or if one uses standard deduction, the other must also use standard deduction.  It cannot be one of each.   If you are in a community property state, it will get extra tricky. Community property states:  AZ, CA, ID, LA, NV, NM, TX, WA, WI       HOW TO AMEND FROM MFJ TO MFS OR FROM MFS TO MFJ   https://ttlc.intuit.com/turbotax-support/en-us/help-article/small-business-processes/switch-filing-jointly-filing-separately/L3UGzwHa1_US_en_US?uid=m69orsz1    
To enter Alimony payments received - 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... See more...
To enter Alimony payments received - 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) Scroll down to Less Common Income On Alimony Received, click the start or update button
I get this code too TY25_HSA. But it doesn't say what field is wrong. My ifo matches my forms
TurboTax does not support tax year 2019.   You will need to locate a tax professional in your area for assistance with the 2019 state tax return.
To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/ Scroll down to the bottom of ... See more...
To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/ Scroll down to the bottom of the screen and on the section Your tax returns & documents.  Click on the Year and Click on Download/print return (PDF)   If you used the desktop CD/Download editions installed on your computer, the only copy of your tax data file and any PDF's will be on the computer where the return was created.  TurboTax does not store online any returns completed using the desktop editions.
Because it's an intentionally deceitful practice to force you into paying.
On my 2025 return it carries over your 2024 AGI if you used TurboTax for your 2024 return. I simply overwrite that value and made it 0.00 and my efiling was accepted by the IRS. TurboTax is correct b... See more...
On my 2025 return it carries over your 2024 AGI if you used TurboTax for your 2024 return. I simply overwrite that value and made it 0.00 and my efiling was accepted by the IRS. TurboTax is correct but the issue is on the IRS side where they haven't uploaded your 2024 return so there is nothing to compare to.
It is " 6 of 1 or a half dozen of another".  Your single member LLC is totally disregarded for federal income tax purposes so it makes no difference, BUT if you take the first approach you're going t... See more...
It is " 6 of 1 or a half dozen of another".  Your single member LLC is totally disregarded for federal income tax purposes so it makes no difference, BUT if you take the first approach you're going to have issues with ending and starting inventory as you mentioned in your final questions. I'd take the second approach personally.