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yesterday
I turned a primary residence into a rental and sold it less than 3 years later so I get the capital gains exclusion. I had a lease until 12/31/24. I decided to sell the house in 2025. I did not hol...
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I turned a primary residence into a rental and sold it less than 3 years later so I get the capital gains exclusion. I had a lease until 12/31/24. I decided to sell the house in 2025. I did not hold the house out for rent in 2025 as I needed to sell to avoid cap gains. Turbotax is telling me I need to claim depreciation for the 5.5 months in 2025, even though it wasn't a rental. It will not let me manually edit this number to zero. If I say I sold the house on 1/1/25, (which I didn't) it still calculates .5 months of depreciation in 2025. If I say I took the house out of service on 12/31/24, it gives me an error saying that is an illegal entry. I am not supposed to claim this depreciation, but Turbotax is forcing me to. Even if I go in the forms, I can't edit the number. I also have rental fees that weren't paid until 2025. (They delayed billing me for HOA fees and a plumber bill that were both legit rental expenses in 2024, but need to be claimed in 2025.) So the house needs to appear as if it is still a rental in Turbotax to claim these things. The tax laws are clear as mud as how to handle this type of situation. There is no guidance, and some of it is contradictory. Any ideas how I can claim the legit rental expenses that were paid in 2025? Any way to not have TurboTax add depreciation for a house that wasn't available to rent? And what to do about property taxes and mortgage interest? Does the property become an investment property if it's not up for rent? It can't be a qualified home as I didn't spend any time there those 5.5 months in which I was gettting it ready to sell. (I'm not claiming any of the costs to prepare it to sell as rental expenses. I figure I need to eat those.) Our tax laws are so confusing and Turbotax guidance is just awful.
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yesterday
@smith-mahon , duplicate question addressed here: https://ttlc.intuit.com/community/retirement/discussion/re-where-do-you-report-an-rmd-rollover-that-occurred-within-the-60-day-time-limit/01/387626...
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@smith-mahon , duplicate question addressed here: https://ttlc.intuit.com/community/retirement/discussion/re-where-do-you-report-an-rmd-rollover-that-occurred-within-the-60-day-time-limit/01/3876268#M267481
yesterday
Para maximizar su reembolso:
Maximizar sus contribuciones a su retiro
contribuir a cuenta de seguro (HSA)
reclamar creditos que le aplica.
revisar quales deducciones puede usar.
...
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Para maximizar su reembolso:
Maximizar sus contribuciones a su retiro
contribuir a cuenta de seguro (HSA)
reclamar creditos que le aplica.
revisar quales deducciones puede usar.
presentar electronicamenete para evitar demoras.
yesterday
what are the different turbo tax products
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yesterday
If your return is rejected because of the 1095-A: The IRS database thinks that you or a member of your household has, or has had a Marketplace policy.
You should Confirm that you and no one els...
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If your return is rejected because of the 1095-A: The IRS database thinks that you or a member of your household has, or has had a Marketplace policy.
You should Confirm that you and no one else got a 1095-A
You can use the phone number listed by state at
The Health Insurance Marketplace.
If you're sure you don't have a 1095-A you can use these steps to clear it.
Select Tax Tools
On the drop-down select Tools
There will be 2 green boxes
Select Topics Search
Type 1095-A
The question will come up Did you receive Form 1095-A for your health insurance plan?
Answer Yes
Continue to the form
Delete it using the trash can
Repeat the process
When you get to Did you receive Form 1095-A for your health insurance plan?
Answer No
yesterday
Before you enter your W-2, TurboTax to whom belongs the W-2. Make sure you choose the correct spouse before entering your W-2. If needed, delete the form W-2 and reenter it under the correct name.
yesterday
How can I determine which retirement fund did not have a RDM taken.
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yesterday
Did you e-file your state tax return and was it accepted? Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.
You complete your tax return by ...
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Did you e-file your state tax return and was it accepted? Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.
You complete your tax return by finishing all 3 Steps in the File section. In Step 3, to e-file your tax return, you must click on the large button labeled "Transmit my returns now".
After completing the File section and e-filing your tax return you will receive two emails from TurboTax. The first email when your tax return was transmitted and the second email when the tax return has either been accepted or rejected.
Note - Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund. Only the taxpayer listed on the tax return can obtain the status of a tax refund or a tax return.
To check the status of an e-filed return, open up your desktop product or log into your TurboTax Online Account. You can find your status within the TurboTax product.
If accepted by the state use this TurboTax support FAQ to check the state tax refund status - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...
yesterday
You will post the amount you paid in estimated taxes directly into the program.
Open TurboTax Online
Under Federal
Select Deductions & Credits
Scroll to Estimates and Other Taxes Paid
...
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You will post the amount you paid in estimated taxes directly into the program.
Open TurboTax Online
Under Federal
Select Deductions & Credits
Scroll to Estimates and Other Taxes Paid
In the drop down pick Estimated Tax Payments [Start]
Select the proper conditions for the payment.
In this case Federal estimated taxes for 2025 (Form 1040-ES) [Start]
Did you pay federal estimated taxes for 2025? [Yes]
Post your quarterly payments.
Post the payment in the in the proper area
Leave Qtrs 3 & 4 blank
Change the date of payment if necessary.
yesterday
If you are using TurboTax, just take it one step at a time. Read the instructions on the screen carefully and fill in your information little by little. The program will walk you through the proces...
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If you are using TurboTax, just take it one step at a time. Read the instructions on the screen carefully and fill in your information little by little. The program will walk you through the process. If you get stuck or have questions, you can always ask them here. Or, there are options to upgrade within the program to get more help.
If you are using TurboTax Online, there is no harm in getting started to see how it goes. You will not be asked to pay until you are ready to file unless you have upgraded for more assistance.
yesterday
not correct W-2 name
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yesterday
I can't help with taxation of retirement benefits in NJ.
yesterday
Can't access my state return status
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yesterday
Hi! I checked the state taxes and it said that I owed 6 dollars so I do not know where they got that I was refunded 5 dollars. I did use the standard deduction last year but I can't get around this q...
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Hi! I checked the state taxes and it said that I owed 6 dollars so I do not know where they got that I was refunded 5 dollars. I did use the standard deduction last year but I can't get around this question because Turbotax keeps bringing me back to it so I'm not sure how I should answer it since the real answer would be a negative number? Thanks!
yesterday
I can't guide you through everything, but I'll start off with a few thoughts: TurboTax does not deal with items that vary in business percentage, so you'll need to need to manually do some calcu...
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I can't guide you through everything, but I'll start off with a few thoughts: TurboTax does not deal with items that vary in business percentage, so you'll need to need to manually do some calculations. It looks like your total purchase price was $21,434 and your total sales price was $11,423. Those numbers will need to be manually split between personal and business, as well as you'll need to manually calculate the depreciation portion of the Standard Mileage Rate. If you plan on purchasing a new vehicle to replace it, in your specific case I strongly suggest an "Involuntary Conversion" is what you want to do. I am unsure if TurboTax handles that, or if it does, how to do it. This can potentially avoid a lot of tax. If you don't plan on replacing the vehicle, or if you don't make the Involuntary Conversion election, you'll be adding about $10,000 of income to your tax return.
yesterday
Please explain. What do you mean "denied"?
Who denied your tax refund and for what reason. federal or state?
yesterday
@user17756472906 No one from this forum can assist with a billing issue, sorry. You must use TurboTax support for assistance with this problem.
yesterday
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yesterday
If you are referring to bank account interest that you reported on your tax return under the wrong bank name, but the right amount was entered, that is a very minor thing that is not likely to cause ...
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If you are referring to bank account interest that you reported on your tax return under the wrong bank name, but the right amount was entered, that is a very minor thing that is not likely to cause an issue. You would not need to file an amended return to change that information. The IRS will match income reported on your return with income reported to them from financial institutions. If the amounts match, then it is unlikely to be questioned.
Or, if you are asking about the bank name entered for a refund direct deposit and you have already filed your return, then you cannot change the direct deposit information if it has been accepted. However, if all of the numbers (routing number and account number) are correct, then you should not need to worry. That is the information used to make the deposit.
If there does happen to be a problem with the deposit, then the IRS will mail you a check instead.
yesterday
Nine states — Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming — have no state income taxes.
As your state Washington has no state income tax, it i...
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Nine states — Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming — have no state income taxes.
As your state Washington has no state income tax, it is not in the drop down menu of Box 15 of form W-2. Just leave boxes 15 and 16 blank even if WA is listed in box 15 and/or box 16 is filled with an amount on your form W-2.