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Friday
@lmbrian If only it were that simple. This is a very complex area of tax law and you would be well advised to seek professional assistance from a CPA, enrolled agent, or tax attorney who specializes ...
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@lmbrian If only it were that simple. This is a very complex area of tax law and you would be well advised to seek professional assistance from a CPA, enrolled agent, or tax attorney who specializes in foreign taxes (not one who deals with this issue now and then).
That said, the complication I see is in the so-called "savings clause" in Article 4 of the treaty. It reserves the right for the US tax the worldwide income of its citizens as if the treaty were not in effect. There are a few exceptions to that in Article 5, but only, it appears to me (please verify yourself and with your own counsel) for 18(1)(b) (social security type pensions) and 18(4) (child support). So if the treaty exclusion that fits your case is 18(1)(a), for example, you have to include the income anyway if you are a US citizen.
If that is the case, all hope is not lost. Article 24(1)(a) allows a tax credit (not a deduction, but a credit!) against US tax on income on which an Irish tax was paid by a US citizen. In the US system, this is done via the foreign tax credit (FTC) on Form 1116. TurboTax can handle this, though you must be very careful to answer all the questions properly and verify that you get the results you expect by examining the forms themselves before filing. If the results are not what you expect, you need to make sure you understand what should happen, then figure out how to get the right information into TT to get the right result. That is very doable, but it can sometimes be pretty involved.
Friday
I have not submitted my 2024 Tax year return yet. I need to get it submitted.
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Friday
No errors, everything is filled out correctly. Goes from step one to step two, then back to step one once step two is completed.
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Friday
Schedule B is related to interest and dividends. Have you entered any interest or dividends? If so go back over those entries and double check what you have entered against the forms that you recei...
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Schedule B is related to interest and dividends. Have you entered any interest or dividends? If so go back over those entries and double check what you have entered against the forms that you received and make certain that everything is correct.
Friday
Yes, if you're entering a W-2 in TurboTax, you need an amount in Box 1 (at least $1), but it can't be a negative number.
If you know your income is tax-exempt and you're not claiming the Earned...
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Yes, if you're entering a W-2 in TurboTax, you need an amount in Box 1 (at least $1), but it can't be a negative number.
If you know your income is tax-exempt and you're not claiming the Earned Income Credit, you don't need to enter your W-2 in TurboTax, just keep it for your records.
If you do want the EIC, enter your W2 just like it is in that section. You will get to the step on the Uncommon Situations page where you will check that you have Difficulty of Care Payments and TurboTax will ask you how much of the amount in Box 1 is for Difficulty of Care Payments. Indicate the entire amount and that will make it non-taxable income on your tax return.
Here's more info on Entering a W-2 for Difficulty of Care Income.
@elenarizzo
Friday
Here is the website I am referencing: https://www.irs.gov/newsroom/one-big-beautiful-bill-provisions#collapseCollapsible1753909839321_465438
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Friday
I am trying to import my home and office return from 2024 on my desktop and I am currently using 2025 deluxe and it is not showing up in the "choose a return" box or does not open when I click find ...
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I am trying to import my home and office return from 2024 on my desktop and I am currently using 2025 deluxe and it is not showing up in the "choose a return" box or does not open when I click find your return it just beeps at me. But does not load. How can I import from last year where I have both pdf and application on my Mac.
Friday
Your income from the venture should be the value you received for your services. Since you did not receive cash, it is appropriate to report the income at the fair market value of the property when y...
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Your income from the venture should be the value you received for your services. Since you did not receive cash, it is appropriate to report the income at the fair market value of the property when you received it, regardless of what is reported to you. Just keep good records to substantiate the market values and you should be OK.
@AHB84
Friday
I have a court order with my son’s father that says every odd year he gets to claim IF he’s in substantial compliance with his child support order, which he is not. If he claims him without me knowin...
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I have a court order with my son’s father that says every odd year he gets to claim IF he’s in substantial compliance with his child support order, which he is not. If he claims him without me knowing how can I fight it? He’s more than 10,000 behind so I don’t know if they take that into consideration or what exactly “substantial compliance” means to them. I known this is an even year but he asked if he could claim him this year since he hasn’t for the past few odd years and I want to make sure I know what to say back to him.
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Friday
Perhaps.
There is a tax credit for Exterior windows and skylights that meet Energy Star Most Efficient certification requirements. Credit is limited to $600 total.
On your TurboTax return...
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Perhaps.
There is a tax credit for Exterior windows and skylights that meet Energy Star Most Efficient certification requirements. Credit is limited to $600 total.
On your TurboTax return, go to Deductions and Credits->Your Home->Home Energy Credits, and enter your information here.
HOWEVER, note that this interview area is not yet ready, so please be patient.
In any case, you must be able to prove (in case of an audit) that the windows are energy efficient that satisfy the IRS' requirements.
Please read about this credit at the IRS's website.
Friday
1 Cheer
Being over age 59½ and having had any Roth IRA for 5 years or more means that any distribution from any of your Roth IRAs is tax-free. For a distribution from a Roth IRA that you have had for less t...
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Being over age 59½ and having had any Roth IRA for 5 years or more means that any distribution from any of your Roth IRAs is tax-free. For a distribution from a Roth IRA that you have had for less than 5 years, the IRS custodian will report the distribution with code T in box 7 of the Form 1099-R. When in TurboTax you answer Yes to the question that asks if you had any Roth IRA for 5 years or more, TurboTax will treat code T the same as code Q.
Friday
I did kind of. I'm in the military so I was in Virginia for most of the year and then I PCS'd to North Carolina. But my home of record is in Arizona. So do I file for Virginia since I lived there for...
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I did kind of. I'm in the military so I was in Virginia for most of the year and then I PCS'd to North Carolina. But my home of record is in Arizona. So do I file for Virginia since I lived there for 10 out of the 12 months of 2025, North Carolina because that's where I was on 12/31/2025, or Arizona since that's where my home of record is?
Friday
1 Cheer
Nothing you paid is deductible. What you paid is your beginning tax basis. It will increase by income items and decrease by expenses items and distributions. Since you are buying stock, your outside...
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Nothing you paid is deductible. What you paid is your beginning tax basis. It will increase by income items and decrease by expenses items and distributions. Since you are buying stock, your outside basis may be different than the 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. Things would be different if you did an asset purchase.
Friday
As @M-MTax writes above you need to use the 2024 tax software for your fiscal year that begins in 2024. If you used the 2024 software for the earlier fiscal year that began in 2023 and ended in 2024...
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As @M-MTax writes above you need to use the 2024 tax software for your fiscal year that begins in 2024. If you used the 2024 software for the earlier fiscal year that began in 2023 and ended in 2024 then you used the wrong forms and filed the wrong year for that return so you will need to recreate that return in the 2023 software and then enter the numbers for the fiscal year beginning in 2024 into the 2024 software.
@NovoAlternatives
Friday
This did not answer my question. Are you recommending a tax expert who lives near me or not.
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Friday
Did you move during 2025? Make sure your personal information is correctly entered in the My Info section. You are asked about all the states you lived or worked in, so TurboTax knows which state...
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Did you move during 2025? Make sure your personal information is correctly entered in the My Info section. You are asked about all the states you lived or worked in, so TurboTax knows which state returns you need to file.
Do you have to file multiple state returns? This article will help determine which states you need to file a return for.
Friday
have Audit Protection with Turbo Tax Is there a phone number to speak to person
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Friday
Software update on January 21
Friday
It appears to be creating DotNetZip.XXXXXX.tmp files and leaving them around if that helps an explanation. Running TurboTax as administrator seems to work,
Friday
1 Cheer
Please explain more. If you filed in Turbo Tax you need to amend it in Turbo Tax. How could you correct it on HR Block? And do you mean your 2024 return to transfer into 2025? How to Trans...
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Please explain more. If you filed in Turbo Tax you need to amend it in Turbo Tax. How could you correct it on HR Block? And do you mean your 2024 return to transfer into 2025? How to Transfer into the Online version https://ttlc.intuit.com/community/entering-importing/help/how-do-i-transfer-last-year-s-return-into-turbotax-online/00/25953 TurboTax Online and the Mac Desktop program only supports PDF transfers, if you used other tax software last year. But a pdf only transfer very basic info like your name and AGI. It would be just as easy to manually enter all your info. So it's probably not worth even trying to transfer it.