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The biweekly paychecks will be for a base salary of $11 per hour. Then, the weekly reimbursement stipends in the set amount of $360. Which equals out to the $20 an hour. They call the reimbursement a ... See more...
The biweekly paychecks will be for a base salary of $11 per hour. Then, the weekly reimbursement stipends in the set amount of $360. Which equals out to the $20 an hour. They call the reimbursement a weekly housing and travel allowance. I just want to make sure that this is an okay practice before I get in too deep with this job. Its a great opportunity and will look great on a future resume, so I would like it to work out. At the same time, I am worried about the legality as I have never heard of this before.
Have received no reply to my question.  I don't recall any instance where the Community has not responded to any of my questions over the years. Did you read my question? Would you care to reply? ... See more...
Have received no reply to my question.  I don't recall any instance where the Community has not responded to any of my questions over the years. Did you read my question? Would you care to reply?   Thx  
The 1040X should be in your account.   It overwrote the regular 1040.  Save the PDF https://ttlc.intuit.com/community/saving/help/how-do-i-save-my-turbotax-online-return-as-a-pdf/00/26234  
If the property was your primary residence for at least 2 years (730 days) of the last 5 yaers (1826 days) you owned it, counting back from the closing date of the sale, you will qualify for the excl... See more...
If the property was your primary residence for at least 2 years (730 days) of the last 5 yaers (1826 days) you owned it, counting back from the closing date of the sale, you will qualify for the exclusion. Note that in the process of entering the sale in TurboTax you will be asked if this sale includes the sale of your primary residence. You have to select "YES" in order to be presented with the questions/selections that you have to answer/provide in order for the program to "know" that you qualify for the exclusion. 
In case anyone hasn't seen this..... It's Deductible is being discontinued Oct 15, 2025. You can export your ItsDeductible data for 2021, 2022, 2023, 2024, and 2025 before October 21, 2025. https:/... See more...
In case anyone hasn't seen this..... It's Deductible is being discontinued Oct 15, 2025. You can export your ItsDeductible data for 2021, 2022, 2023, 2024, and 2025 before October 21, 2025. https://ttlc.intuit.com/turbotax-support/en-us/help-article/login-password/export-data-itsdeductible/L7g6R08jW_US_en_US?uid=la19aqdr
@pk , so unless my mom lives for another 2 years after the transfer, she can only claim deduction for half of the capital gain up to $250K?
I took the recommendation and contacted the Office of the President.  They got back to me within a day.  ItsDeductible is being discontinued. I did take the opportunity to express my displeasure at t... See more...
I took the recommendation and contacted the Office of the President.  They got back to me within a day.  ItsDeductible is being discontinued. I did take the opportunity to express my displeasure at the late notice; noting that this could not have been a recent decision.  She acknowledged that the decision was made "a while ago".  She followed up with an encouragement to download my 2025 data (as well as previous years) as well as the pricing data.
What were the amounts of your proceeds and cost basis on your return?
In both the Online and Desktop program  you can go though the Estimate section or in the Desktop program there is also a What-If worksheet.    To plan for next year in the Online version you can g... See more...
In both the Online and Desktop program  you can go though the Estimate section or in the Desktop program there is also a What-If worksheet.    To plan for next year in the Online version you can go though the Estimate section. Click on Add A State to let you back into your return, Be very careful not to change any of your actual current return. Or you can set up another account to test in. You don't have to pay unless you want to print it out. You can use the same email address for 5 accounts. You can just type W4 in the search box at the top of your return, click on Find. Then Click on Jump To and it will take you to the estimated tax payments section. Say no to changing your W-4 and the next screen will start the estimated taxes section. OR go to Federal Taxes or Personal (Home&Business version) Other Tax Situations Other Tax Forms Form W-4 and Estimated Taxes - Click the Start or Update button Say No to W4. When you get to the W4 and Estimated Taxes section, say you want to adjust your income to go though all the screens. If you have the Desktop program you can do another test return, go up to File-New or save your return with another name to test in, go to File-Save As.   In Desktop there is also a What-If worksheet.  Go to Forms Mode, click Forms in the upper right or on the left for Mac. Then click Open Forms box in the top of the column on the left. Open the US listing of forms and towards the bottom find the What-if worksheet. It's right under Estimated Taxes.  
Try entering 0 for the AGI. The IRS might have processed your return later so the AGI didn't get entered in time.  Especially if you mailed it.  That works for most people. See, https://ttlc.intuit.... See more...
Try entering 0 for the AGI. The IRS might have processed your return later so the AGI didn't get entered in time.  Especially if you mailed it.  That works for most people. See, https://ttlc.intuit.com/community/rejections/help/what-if-i-entered-the-correct-agi-and-i-m-still-getting-an-e-file-reject/00/27031 How to correct the AGI in the Online version https://ttlc.intuit.com/community/agi/help/where-do-i-correct-my-agi-in-turbotax-online/00/26311 If you can’t get it to efile you will have to print and mail it. https://ttlc.intuit.com/community/printing/help/how-do-i-print-and-mail-my-return-in-turbotax-online/00/26258 Be sure to attach copies of your W2s and any 1099s that have withholding on them.  You have to mail federal and state in separate envelopes because they go to different places.  Get a tracking number from the post office when you mail them for proof of filing.
Call your bank and ask them.   You can usually find the routing number on the bank’s website and your account number by logging into your bank account.
I been looking trying to get my 1040X documents for my college
either as a loan from shareholder or a contribution to capital. loans can have adverse tax consequences. IRC section 7872 may apply which would require the corporation to pay you interest to you on t... See more...
either as a loan from shareholder or a contribution to capital. loans can have adverse tax consequences. IRC section 7872 may apply which would require the corporation to pay you interest to you on the loan(s) if they aree above a certain amount. the other issue is while this gives you basis to deduct S-corp loss, losses reduce the basis so repayment can result in income.  this does not appear to be the case in which the money is treated as paid in capital.   howwver, not knowing your full tax situation, best advice would come from a tax pro who could go over evrthing peersonal and corportate for the best outcome 
2024 tax year. I have usually only have SS benefits plus interest income and don't pay have to pay taxes. For 2024 I also had capital gains (which were imported in so are correct). Turbo tax said I o... See more...
2024 tax year. I have usually only have SS benefits plus interest income and don't pay have to pay taxes. For 2024 I also had capital gains (which were imported in so are correct). Turbo tax said I owed $583. I wrote a check. Recently I received a letter from the IRS stating I owed an additional$3,134.12 which includes $70.12 interest. I got an IRS agent on the phone (a minor miracle) and he reran my taxes and said turbo tax in wrong. I wrote another check.   So what gives? If I can't get an explanation as to this discrepancy then I can't trust Intuit and will never buy any of their products again (as well as leaving crappy reviews where ever I can).
We have a commercial rental property that installed a new AC unit. The depreciation life is 39 years. Since the Unit was placed in service in the mid of year, the bonus depreciation will only be few ... See more...
We have a commercial rental property that installed a new AC unit. The depreciation life is 39 years. Since the Unit was placed in service in the mid of year, the bonus depreciation will only be few hundreds. Section 179 should allow me to take the depreciation up to the net income, but Turbo tax keeps calculated as this bonus depreciation number. 
I haven't seen anything and had to dig to find it out. Doesn't even mention it on ItsDeductible itself. I can't imagine that it costs that much to upkeep it. I've used it for years and now will feel ... See more...
I haven't seen anything and had to dig to find it out. Doesn't even mention it on ItsDeductible itself. I can't imagine that it costs that much to upkeep it. I've used it for years and now will feel no loyalty when choosing which tax product to use for 2025 - will just choose the cheapest instead of keeping Turbotax. 
We have a commercial rental property that installed a new AC unit. The depreciation life is 39 years. Since the Unit was placed in service in the mid of year, the bonus depreciation will only be few ... See more...
We have a commercial rental property that installed a new AC unit. The depreciation life is 39 years. Since the Unit was placed in service in the mid of year, the bonus depreciation will only be few hundreds. Section 179 should allow me to take the depreciation up to the net income, but Turbo tax keeps calculated as this bonus depreciation number. 
see this webpage https://accountinginsights.org/how-to-waive-a-substantial-tax-understatement-penalty/  this from the iRS https://www.irs.gov/payments/accuracy-related-penalty#:~:text=For%20ind... See more...
see this webpage https://accountinginsights.org/how-to-waive-a-substantial-tax-understatement-penalty/  this from the iRS https://www.irs.gov/payments/accuracy-related-penalty#:~:text=For%20individuals,%20a%20s      it the penalty is substantial it may be best to consult with a tax pro and let them handle the protest      
It's wrong and I can't seem to find a fing way to fix it before I send mytaxes off