All Posts

@dhayman I can't imagine what your reason is for needing VirtualBox version 5.2 specifically, but I know that the v6.x release had "working" compatibility with Hyper-V, and v7.x has mostly ironed out the kinks.  In any case "working" leaves much to be desired, as VirtualBox uses the Hyper-V hypervisor if it's enabled on your PC, and VirtualBox running on top of Hyper-V is painfully slow.  In fact, the CPU icon in the VM status bar will change from a blue rectangular "V" icon to a green "sea turtle" icon when the VM is using the Hyper-V hypervisor, and yes it's slow as a turtle.   To allow VirtualBox to use it's own hypervisor (a much speedier experience) you'll need to take extra steps to prevent Hyper-V from getting in the way.  Which steps to take depend on whether or not you've explicitly installed and enabled certain Hyper-V components in Windows, and also if the (default) DeviceGuard settings are enabled.  This link does a fairly decent job of laying out all the places to look and things to do, however if you search "VirtualBox green turtle" you'll find a lot of pages that focus on specific suggestions: https://superuser.com/questions/1778061/green-turtle-snail-mode-slow-performance-indicator-on-virtualbox-vm   And yeah, ChatGPT is a big little liar.  Just wait until it gets ahold of all our tax returns claiming exemptions for pets.  😹

I am also using Deductible Duck and  I love it.  To me it's totally worth the price due to the ease of immediately entering deductions throughout the year and the extreme convenience of being able to download the information directly to Turbo Tax.  Dave (the developer) has been sending out emails to provide updates and says that "my mailbox is always open" for input from users.  As a long time user of It's Deductible I am so thankful that Dave has provided an absolutely perfect substitute.

@M-MTax @AmeliesUncle @VolvoGirl  What I thought was going to be a straightfoward question on depreciation has resulted in a lot of great questions for me and I really appreciate the dialogue!   The LLC is a multi-member LLC that was established in July 2024 and filed with a fiscal ending date of Nov 30 as that aligns with 1099s produced by my property management company that end on Nov 30.  I appear to be fortunate that there are two members to the LLC in order to use the fiscal date, but I hope I'm not missing anything more on that issue.   I did file my taxes from 7/2024 - 11/2024 on the 2024 1065 as it was a short year.   As I am preparing my taxes for 11/24 - 11/25, I tried starting in TT Business 2024, but when I select a fiscal tax year, the furthest into 2025 that it goes is June.  If I select the month of Novemeber, then it defaults the end date to 11/2024 without an option to change to 2025.  If I start the return in TT Business 2025 with a Nov end date, it selects 11/2026 using the 2025 1065.  My workaround to start is using TT 2024 and changing the start of the business to 2023 with a plan to override that later in the process.  Better suggestions?   I haven't even gotten to the depreciation, but hopefully that uses 27.5 years.    Thank you!

I too, am very irritated with Intuit's decision to discontinue It's Deducible.  The good news, is that I recently started using a replacement website that is very similar called Deductible Duck.  So far, I have been pleasantly surprised.  The developer is very responsive and quickly fixed a small issue I found with the generation of the PDF receipt download.  Definitely worth checking out.  It's free to use if donations are less than $1000 so no cost in trying for yourself.  Website is here:  https://deductibleduck.com/

There are 2 different loans, Flex and Refund Advance   Apply for a Flex Loan TurboTax Flex Advance loan – Get $350-$2,000 | TurboTax   What is the Turbo Tax Flex Advance? https://ttlc.intuit.com/turbotax-support/en-us/help-article/loans/whats-turbotax-flex-advance/L2Xg6I...   The Advance Refund loan won't be available until after January 1 and just when you are ready to file.  And only if they offered it to you.  You can't self select it.  Then you don't get it until AFTER your efile is Accepted by the IRS. https://turbotax.intuit.com/refund-advance/

@AmeliesUncle wrote: And that isn't even going into asking if choosing a Fiscal Year was allowable for his situation or not .... That's true and a good point. Also, perhaps asking if this, in fact, is a multi-member LLC.

Thank you so much @pk for confirming this. Internet blogs are full of this misconception that this capital gain will not be taxed by USA once we become NRA since we have already paid regular taxes when these stocks were vested to me. I don't know how even chatGPT and even few other firms' blogs are saying same thing that there will not be any tax imposed by USA.   Also, will the tax rate always be flat 30% or there will be slabs based on Capital gain income

I already sent you a response on Thursday, but have not received an answer yet.  Since then I have also noticed that on page 8 of the instructions it says Do not separately report the assets held by the plan, but I take that to mean you do not have to declare the individual funds the pension invests in, rather than not having to fill out line 35 or 36.  Please kindly advise me the answer to my original question and if I am correct about what I just read.

To cancel Advantage account https://ttlc.intuit.com/community/downgrading/help/how-do-i-cancel-my-turbotax-advantage-subscriptio... If you get charged for the Desktop program but can't install it, Turbo Tax has a special offer to move to the Online version. See info at the bottom of this Windows 10 End of Life article…… https://ttlc.intuit.com/community/articles/community-news-announcements/turbotax-windows-10-desktop-...

You are looking at the estimated dates those forms will be available for printing to file, or to efile. While changes could still be made (and actually, well after those dates too), the forms in the product right now are useful for estimates. Schedule D, 1099-B, 1099-DIV were in the Windows desktop product as originally released.   I've been using TurboTax for decades, and I'd say that 90% of the time I spend using the product is between mid-November and late December. Preparing a return for filing in Feb/Mar/Apr is the easy part for me.

if hoping to use 2025 version for estimation, Schedule D in desktop is not scheduled to be available until January as of now you can't put in a 1099B for cap gain/loss at least thru interview mode.  VA state is not available yet either, can't download it yet, presumably same for other states.  See https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product=Turbotax_online&bu=cg  

You'll have to contact product support at the link below. Does your laptop have the required specs to run the program? Is your Windows 11 install running in S mode (TurboTax cannot run in that mode)?   https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/turbotax-phone-number/L0Od33nMQ_US_en_US

See https://ttlc.intuit.com/turbotax-support/en-us/help-article/loans/whats-turbotax-flex-advance/L2Xg6In6b_US_en_US   You'll probably have to call the number listed on that site. I don't think anyone here can assist you with this issue.