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yesterday
Glad to hear but where will we find that tax professional to confirm? In the meanwhile, Romper, for my example, can you clarify which numbers you would enter where in TurboTax, please including whet...
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Glad to hear but where will we find that tax professional to confirm? In the meanwhile, Romper, for my example, can you clarify which numbers you would enter where in TurboTax, please including whether you would need to check any boxes that indicate you are not using the information on forms from the broker which some might consider an audit risk? Thanks much!
yesterday
Thanks for the website. I couple of others ones I checked wasn't right (eg. They didn't have the 12k deduction for old folks like me).
yesterday
All the functionality existed except the E-file option. My 1099-NEC for 2025 have already been printed and mailed. Will my data be restored when 'Turbotax is ready'?
yesterday
i believe the offer from fidelity is only for federal file, where as the desktop software comes with federal + state. this could be a reason why the checkout fails, but with a bad error message. ...
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i believe the offer from fidelity is only for federal file, where as the desktop software comes with federal + state. this could be a reason why the checkout fails, but with a bad error message. this is the only potential reason i could find. turbotax support could atleast show a usable error message. :(
yesterday
@SPLITRIMZ wrote: Intuit is not listening, I''m hoping for an alternate solution to Turbo Tax "Hoping for an alternate solution"? There are only two DIY, consumer-level, desktop income tax ...
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@SPLITRIMZ wrote: Intuit is not listening, I''m hoping for an alternate solution to Turbo Tax "Hoping for an alternate solution"? There are only two DIY, consumer-level, desktop income tax prep software developers; H&R Block and TaxAct. Take your pick. I'm sure each has its pros and cons. BTW, don't think for one minute that either of those companies are going to be "listening" to you (i.e., don't be delusional; they don't care about you any more than does Intuit).
yesterday
Have the same problem. Tried different devices, different browsers, went as far as creating a new Intuit Account thinking it might have been an issue with my existing account but met the same error c...
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Have the same problem. Tried different devices, different browsers, went as far as creating a new Intuit Account thinking it might have been an issue with my existing account but met the same error code. Please update if you receive a fix.
yesterday
They are gifts and are not reported on your return.
yesterday
2 Cheers
Accountable plans usually need to be submitted within 60 days of the expense, so whatever office expenses qualify during that time period can go under an Accountable Plan. Depreciation can be par...
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Accountable plans usually need to be submitted within 60 days of the expense, so whatever office expenses qualify during that time period can go under an Accountable Plan. Depreciation can be part of an Accountable Plan. As a side note, it is my strong opinion the people should do corporate returns by themselves. There are too many things to mess up, and DIY programs like TurboTax only cover the basics. It can be expensive, but in my opinion the corporate tax return should be prepared by a tax professional.
yesterday
Scenerio - I am married filing jointly - We currently live in separate homes - One home was upgraded with energy efficient improvements which qualify for credits (high efficiency AC, add...
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Scenerio - I am married filing jointly - We currently live in separate homes - One home was upgraded with energy efficient improvements which qualify for credits (high efficiency AC, added insulation, etc.) - I open form 5695 - I didn't check the box at the top for allocating credits to others - I skip down to part II - I do the quickzoom to create copy 2 for my spouse - Return to the original form to continue - I cannot uncheck any of the boxes at the top of section II nor check any of the boxes in 17a-c. There's a lot of posts around this area, but I can't find this exact scenario. Suggestions ?
yesterday
Thanks @AmeliesUncle for your reply. In this case, I should not claim any home office expenses except the month of December including utilities, cell phone, internet expenses. Is this accurate? Fo...
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Thanks @AmeliesUncle for your reply. In this case, I should not claim any home office expenses except the month of December including utilities, cell phone, internet expenses. Is this accurate? For vehicle deprecation, I am still not clear if that needs to be part of accountable plan or should that be directly filed at tax time.
yesterday
Intuit is not listening, I''m hoping for an alternate solution to Turbo Tax
yesterday
2 Cheers
1) No, it must be done in a "reasonable period of time". See link below for that definition. https://www.irs.gov/publications/p463#en_US_2024_publink100034114 2) Yes. However, even though yo...
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1) No, it must be done in a "reasonable period of time". See link below for that definition. https://www.irs.gov/publications/p463#en_US_2024_publink100034114 2) Yes. However, even though your first year deduction will be larger using Actual Expenses, you'll want to analyze if that is your best option for the long-term (if you start off using Actual Expenses, you can never switch to the Standard Mileage Rate for that vehicle). In many cases, the Standard Mileage Rate ends up with a better long-term deduction over the years. But of course things vary from person to person depending on their specific circumstances. As a side note, be sure you check if your vehicle insurance properly covers your vehicle. In many cases, you may need a commercial insurance policy to cover your vehicle. 3) That is a bit more tricky. Somewhere in the program is a worksheet that projects your future depreciation, or you could use an online calculator. Then take that full-year, full-business depreciation amount and each month factor in your business percentage and using 1/12 of the year. 4) Yes.
yesterday
1 Cheer
Is this the 2025 software? Have you double-checked that you entered it as a vehicle UNDER 6000 pounds? If so, at first glance it appears to be a 'bug' that you might need to wait for an update. ...
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Is this the 2025 software? Have you double-checked that you entered it as a vehicle UNDER 6000 pounds? If so, at first glance it appears to be a 'bug' that you might need to wait for an update. You could go into the "Forms" mode to the worksheet to override it, but it may be easier to wait for the update.
yesterday
Did the replies above answer your question? If so, select “Mark as Best Answer” to help others find this thread. Respond below with any follow-up questions so we can point you in the right direction....
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Did the replies above answer your question? If so, select “Mark as Best Answer” to help others find this thread. Respond below with any follow-up questions so we can point you in the right direction. If you’d like to change subjects, Select a Topic and find the button to Post your Question. Thanks for joining the Community, @sgipson2023 **Say “Thanks” by clicking the thumb icon in a post **Mark the post that answers your question by clicking on “Mark as Best Answer”
yesterday
Did the replies above answer your question? If so, select “Mark as Best Answer” to help others find this thread. Respond below with any follow-up questions so we can point you in the right direction....
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Did the replies above answer your question? If so, select “Mark as Best Answer” to help others find this thread. Respond below with any follow-up questions so we can point you in the right direction. If you’d like to change subjects, Select a Topic and find the button to Post your Question. Thanks for joining the Community, @Jefehav **Say “Thanks” by clicking the thumb icon in a post **Mark the post that answers your question by clicking on “Mark as Best Answer”
yesterday
After selecting vehicle under 6000 pounds, and then yes for bonus depreciation, the TT Business software is giving it 100% bonus depreciation rather the the $20,200 limit for that asset class. Is the...
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After selecting vehicle under 6000 pounds, and then yes for bonus depreciation, the TT Business software is giving it 100% bonus depreciation rather the the $20,200 limit for that asset class. Is there a way to correct this?
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yesterday
Q. Could I still qualify for this year's (2025) AOC or no?
A. No.
A full time unmarried student, under age 24, even if you don't qualify as a dependent, is only eligible for the refundable por...
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Q. Could I still qualify for this year's (2025) AOC or no?
A. No.
A full time unmarried student, under age 24, even if you don't qualify as a dependent, is only eligible for the refundable portion of the American Opportunity Credit (AOC) if he supports himself by working (your earned income must be more than half your support. "Support" includes the cost of school). You cannot be supporting yourself on parental support, 529 plans or student loans & grants. It is usually best if the parent claims that credit.
Q. Could I claim it for 2026 since I'd be 24?
A. Yes. The earned income rule will no longer apply to the refundable portion of the AOC. The dependency test may still apply. You cannot claim the (up to) $1000 refundable credit if you are claimed as a dependent by someone else. Because you are over 23, you can claim the refundable portion of the AOC, even if you qualify as a dependent, as long as you are not actually claimed as a dependent.
yesterday
Your parents should claim it this year and you can claim it next year but only if you are not a dependent.
yesterday
Just to be sure, I'm 23 and have earned income for 2025 and will get a W-2 for 2025. I just didn't make enough money to owe anything, but I recently quit my job this December. My parents paid for my ...
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Just to be sure, I'm 23 and have earned income for 2025 and will get a W-2 for 2025. I just didn't make enough money to owe anything, but I recently quit my job this December. My parents paid for my classes. Could I still qualify for this year's AOC or no? Also, I'm turning 24 in March, but I will not be getting another job for the remainder of the program. Could I claim it for 2026 since I'd be 24, or would it still not count since I won't have earned income?
yesterday
You have not completed your 4 year degree but since you have no earned income, if you have a living parent and under age 24 you can’t get the refundable portion of the AOC credit.