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Thursday
I need to get a copy of my 2023 tax return
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Thursday
You don't enter anything for the new deduction for seniors. TurboTax will give it to you automatically based on the birth date that you entered in your personal information.
The deduction for sen...
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You don't enter anything for the new deduction for seniors. TurboTax will give it to you automatically based on the birth date that you entered in your personal information.
The deduction for seniors is a deduction, not a credit. It reduces your taxable income, not your tax. The maximum deduction is $6,000 per person, but the maximum is gradually reduced over certain income levels, so you don't necessarily get the full $6,000.
Thursday
Need to amend and add the corrected W-2. Can this be done with TurboTax 24 or do I need to do a an amended paper copy? What is the process since I have already filed last year?
Thursday
If you already filed your tax return there is no way to cancel it. You have to wait until the IRS either accepts it or rejects it. If the IRS rejects it you can make the corrections and resubmit the ...
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If you already filed your tax return there is no way to cancel it. You have to wait until the IRS either accepts it or rejects it. If the IRS rejects it you can make the corrections and resubmit the tax return. If the IRS accepts the tax return you will have to wait until they process it and pay your refund, then file an amended return to make the corrections.
The IRS will start accepting or rejecting tax returns on January 26.
Thursday
A few weeks ago I submitted a 4506-T “Request for Transcript of Tax Return”. As a Trustee of my late father’s Trust I was trying to get a transcript for the 1041 I filed for the 2024 Tax year. The re...
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A few weeks ago I submitted a 4506-T “Request for Transcript of Tax Return”. As a Trustee of my late father’s Trust I was trying to get a transcript for the 1041 I filed for the 2024 Tax year. The reason I filed it was because I filed a paper tax return and I wanted to make sure that all of the information was accurate when the IRS processed it. To my surprise I received the attached form letter which basically indicated that tax transcripts aren’t available for Form 1041 ! It said: “Return transcripts and records of account are only available for Forms 1040, 1065, and 1120 series. Account transcripts may be available for other forms.” Are any of you aware of this? I wonder why... I hope filing this 4506-T doesn’t open up a can of worms and increase my chances of getting audited! 2025 will be the 2nd Tax year I am filing the 1041 Trust Tax Return since my father passed away. I think this year I will file electronically which I believe will be better because if it’s anything like electronically filing the 1040 I will get a receipt right away from the H&R Block Tax software showing everything was entered correctly.
Thursday
My new phone number is 835- 231-8079
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Thursday
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Thursday
The free state is not just for the tax return that you are working on. Once you install the free state you can use it for any tax returns that you prepare on that computer.
Thursday
I somehow ended up with Expert Assist which I do not want or need. I haven't started entering my information yet. There doesn't appear to be a way to cancel. How do I cancel Expert Assist?
Thursday
It was efiled and the tt prompts seemed complete. Not sure why federal is not picking up the refund amount and the state is still pending
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Thursday
@Mike9241 wrote:
Contributions made in 2025 for 2024 go on the 2024 return not the 2025 return. if they weren't included in your 2024 return, you'll need to amend it
And, you could only m...
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@Mike9241 wrote:
Contributions made in 2025 for 2024 go on the 2024 return not the 2025 return. if they weren't included in your 2024 return, you'll need to amend it
And, you could only make contributions designated for 2024 up to April 15, 2025.
Thursday
how can i create a 1099 form for my employees
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Thursday
No you can't file as head of household if you lived with your spouse at any time between July and December 2025, even if you would have qualified before that.
Married filing jointly is almost a...
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No you can't file as head of household if you lived with your spouse at any time between July and December 2025, even if you would have qualified before that.
Married filing jointly is almost always the best filing strategy for married persons, and is allowed even if you were not married all year and even if one spouse doesn't work. Your spouse can claim their step-child as a dependent because step-children are treated the same as biological children by the tax laws. Married filing separately has higher tax rates and some important deductions and credits are reduced or denied.
The main reason to file married filing separately would be if there is some legal reason that you want to keep your finances separate from your spouse. In that case, you will probably pay more tax, so weigh that against the possible legal issues and make your decision.
Thursday
Cancel my tax return
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Thursday
That's because some of your basis in the IRA is allocated to the taxable portion of the distribution. The higher the value of all your taxable IRAs at 12/31/2025, the smaller the basis allocation and...
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That's because some of your basis in the IRA is allocated to the taxable portion of the distribution. The higher the value of all your taxable IRAs at 12/31/2025, the smaller the basis allocation and thus the taxable portion is higher
Thursday
@VolvoGirl - I did ensure that the hyphen was in the number and it was. Actually QEF automatically inserts the hyphen in the proper place. To make a long story short I entered my EIN number into the ...
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@VolvoGirl - I did ensure that the hyphen was in the number and it was. Actually QEF automatically inserts the hyphen in the proper place. To make a long story short I entered my EIN number into the Payee record and it worked fine. Therefore, I concluded that the EIN I was given was incorrect. I have called the owner and he is finding out what his proper EIN is and why it may be having problems. Thank you for your very good response in answering the other parts of my questions. This can be closed unless there are any more questions for me.
Thursday
All gambling winnings must be reported. If that statement includes them all, you can use it. However, gambling losses are only of benefit if your itemized deductions exceed your standard deduction. T...
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All gambling winnings must be reported. If that statement includes them all, you can use it. However, gambling losses are only of benefit if your itemized deductions exceed your standard deduction. They're limited to gambling gains
Thursday
have you checked form 8606, if you have basis in the IRA then the 12/31 MV is used in the pro rata calc for how much of a distribution/conversion is taxable
Thursday
1 Cheer
Contributions made in 2025 for 2024 go on the 2024 retuurn not the 2025 return. if they weren't included in your 2024 return, you'll need to amend it