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Friday
Ready after January 21.
Friday
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Friday
Is your AGI over &175,000?
Friday
Some costs would add to your tax basis, while others would not be deductible or add to your basis. We can't see your closing statement. The most common and usually the only deductible expense for th...
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Some costs would add to your tax basis, while others would not be deductible or add to your basis. We can't see your closing statement. The most common and usually the only deductible expense for the buyer is points.
This answer would change if what you bought was property you were going to rent out
Friday
Sorry I don't understand. Could you explain? You say: It will increase by income items and decrease by expenses items and distributions. What does It refer to? Is it my personal tax return? A...
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Sorry I don't understand. Could you explain? You say: It will increase by income items and decrease by expenses items and distributions. What does It refer to? Is it my personal tax return? As I have already mentioned the S-Corp will file its own taxes separate from my personal tax return. >Since you are buying stock, your outside basis may be different than the inside basis. What is outside basis vs. inside basis? >There is no Section 754 step-up when dealing with an S-corp. So if you paid $100,000 and the S-corp that has an inside tax basis of $60,000, the extra $40,000 goes nowhere until you sell or it goes out of business. ??
Friday
State CCBG (grant) funds pay me to provide childcare to my granddaughter in my daughter’s home.
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Friday
There is no way to know for sure but it might have been due to an update that changed calculations in your return. TutboTax is still a work-in-progress with some calculations. The only way you could ...
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There is no way to know for sure but it might have been due to an update that changed calculations in your return. TutboTax is still a work-in-progress with some calculations. The only way you could tell what changed was to have saved the return as a PDF before closing. Then compare it to the latest version. There is one caveat. With Online, you have to pay all your fees before TurboTax will allow you to see every form and schedule, rather than just summaries.
Friday
No, it has to be reported in the tax year it was paid. But you can amend the previous return.
Friday
Are you using online or desktop?
Friday
@Mike9241 wrote: ...don't know how much data from TutbiTax will actually transfer to H&R I think a lot and you'd be surprised at how much. From names, status, SSNs, to W-2s to imported broker...
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@Mike9241 wrote: ...don't know how much data from TutbiTax will actually transfer to H&R I think a lot and you'd be surprised at how much. From names, status, SSNs, to W-2s to imported brokerage/bank info to assets and depreciation. It's all there. Not 100% sure re carryforwards so caveat emptor.
Friday
If you are filing a joint return, both your wife's and your tax information are entered on ONE return. All info needs to be entered; otherwise, it will either be rejected or, at a later date, you'll ...
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If you are filing a joint return, both your wife's and your tax information are entered on ONE return. All info needs to be entered; otherwise, it will either be rejected or, at a later date, you'll find you'll have to amend. If income was left off, there is the possibility of penalties and interest, besides the additional taxes. The IRS does not officially open e-filing until 1/26. so thereis no rush at this point. Submitting it now, it would sit on a TurboTax computer until the IRS opens e-filing.
Friday
@Mike9241 wrote: Kind of doubt that H&R could import an encrypted file. No, of course it couldn't. Of course, neither could TurboTax is you encrypted your own .taxXXXX file. The file would hav...
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@Mike9241 wrote: Kind of doubt that H&R could import an encrypted file. No, of course it couldn't. Of course, neither could TurboTax is you encrypted your own .taxXXXX file. The file would have to be unencrypted first.
Friday
seniors should get an extra 2000 added onto the base + another 6000 bonus deduction.
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Friday
When doing my taxes using turbo tax free I was alerted that my employer took out to much for my Social Security Tax withholding and was instructed that I had to notify my employer that I needed ...
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When doing my taxes using turbo tax free I was alerted that my employer took out to much for my Social Security Tax withholding and was instructed that I had to notify my employer that I needed a W2 correction and a refund of the overpayment. I emailed my employer explaining the issue to him in full detail breaking all down for him explaining what he took out, what I was told should have been taken out, and the amount of the overpayment. Now he wants to know how they came up with thier calculation that I paid in to much . Saying that he won't issue a corrected W2 or a refund until he gets this information, the IRS won't issue a refund of my Federal Taxes once they start issuing refunds until they get this W2 correction. So what do I do.
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Friday
To encrypt your TurboTax file, follow these steps:
Open Your Tax Return: Launch TurboTax and open the tax return you want to encrypt.
Access the File Menu: Click on the File menu located at the...
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To encrypt your TurboTax file, follow these steps:
Open Your Tax Return: Launch TurboTax and open the tax return you want to encrypt.
Access the File Menu: Click on the File menu located at the upper left of the screen.
Select Password Option: Choose Password (on Mac, select Encrypt).
Enter Password: Fill out the required information in the pop-up window, including your desired password.
Add Password: Click on Add Password to finalize the encryption process.
Kind of doubt that H&R could import an encrypted file. That sort of defeats the purpose of encryption. don't know how much data from TutbiTax will actually transfer to H&R