All Posts
8 hours ago
Hello, I sold a rental property at the tail end of 2025. As part of the sale, the January Rent was credited to the new buyer. In Jan 2026 I got the rent as usual to reimburse the credit. The ren...
See more...
Hello, I sold a rental property at the tail end of 2025. As part of the sale, the January Rent was credited to the new buyer. In Jan 2026 I got the rent as usual to reimburse the credit. The rent was being paid by section 8 housing assistance. So next year (2027) I will get a 1099 from them for 1 months rent even though I no longer owned the property in 2026. This payment is a wash for me so how do I handle it going forward? Should I somehow handle it as part of the property sale, otherwise it will be reported as rental income for 2026. I want to avoid paying income tax on it next year since it is just a reimbursement of the credit. Thanks!
Topics:
8 hours ago
What was your filing status in 2023?
8 hours ago
Thank you for your help! I was having trouble even submitting and I know I did the advance. I think next year I won’t be going through TT again. Same thing happened last year. I always do my taxes ea...
See more...
Thank you for your help! I was having trouble even submitting and I know I did the advance. I think next year I won’t be going through TT again. Same thing happened last year. I always do my taxes early to get an advance every year and for the past two years when i have clicked it, they’ve never went through. Very upsetting.
8 hours ago
My daughter had a summer internship and they sent a 1099-NEC. The internship was at a college and she did make over $400 but I'm not sure how to even enter this because it's asking questions that ar...
See more...
My daughter had a summer internship and they sent a 1099-NEC. The internship was at a college and she did make over $400 but I'm not sure how to even enter this because it's asking questions that are not relevant to what she did. She has income from another job as well but her income from that is well below the amount she would need to file as a student. Should this be a different form? Thanks!
8 hours ago
No, the foreign income that is excluded on Form 2555 does not flow into Form 1116 for a Foreign Tax Credit. On Form 1116, you only report foreign income that was not excluded on Form 2555 and that y...
See more...
No, the foreign income that is excluded on Form 2555 does not flow into Form 1116 for a Foreign Tax Credit. On Form 1116, you only report foreign income that was not excluded on Form 2555 and that you paid foreign tax on (which can be entered in the FTC interview or directly on the worksheet/form).
Some taxpayers have only Form 2555, and some only Form 1116, and some have both, depending on their individual tax situation.
Here's more info on Form 2555 and Form 1116 Entries in TurboTax.
@user17645583867
8 hours ago
i have a valid ssn and I am a US citizen. i made over 28k in overtime so I paid a lot of taxes, when I check that I made overtime the next screen tells me I do not qualify for deductions, and then it ...
See more...
i have a valid ssn and I am a US citizen. i made over 28k in overtime so I paid a lot of taxes, when I check that I made overtime the next screen tells me I do not qualify for deductions, and then it says usually this happens because the SSN is not a valid work in the US ssn, but it is so i dont know whats happening.
Topics:
8 hours ago
Why are you filing a tax return?
There's a new urban myth among college students that says they can get a $1000 from the government just for filing a tax form. For most of them, they simply are...
See more...
Why are you filing a tax return?
There's a new urban myth among college students that says they can get a $1000 from the government just for filing a tax form. For most of them, they simply aren't eligible. 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 if he supports himself by working. You cannot be supporting yourself on parental support, 529 plans or student loans & grants. It is usually best if the parent claims that credit.
.
Reference: Line 7 instructions for form 8863.
https://www.irs.gov/instructions/i8863#en_US_2024_publink53002gd0e674
https://www.irs.gov/instructions/i8863
8 hours ago
1 Cheer
Your 25 year old non-student cannot be claimed as anyone else's dependent. They are too old and made too much. Even if they are under the filing requirement threshold, they can file a tax return to...
See more...
Your 25 year old non-student cannot be claimed as anyone else's dependent. They are too old and made too much. Even if they are under the filing requirement threshold, they can file a tax return to seek a refund of federal and/or state ta withheld from their paychecks.
8 hours ago
Topics:
8 hours ago
Report the income on your tax return as if it was reported under your tax ID (Social Security #). For instance, if it was interest income and you received a Form 1099-INT you would just enter the 10...
See more...
Report the income on your tax return as if it was reported under your tax ID (Social Security #). For instance, if it was interest income and you received a Form 1099-INT you would just enter the 1099-INT information on your tax return.
8 hours ago
Topics:
8 hours ago
When your 2024 tax return was rejected last year, you received an email with a rejection message or rejection code. We cannot see your email. Most rejections are for AGI, though. You do not need ...
See more...
When your 2024 tax return was rejected last year, you received an email with a rejection message or rejection code. We cannot see your email. Most rejections are for AGI, though. You do not need AGI any more. You only needed AGI in order to e-file, and e-filing is permanently closed for 2024 returns. The return can only be filed by mail. You do not need AGI to file by mail.
Print, sign and date the return in ink, and mail it in.
When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s. Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS/state received the return.
Federal and state returns must be in separate envelopes and they are mailed to different addresses. Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.
8 hours ago
Your question is not clear.
If you are asking about contributions, you are not allowed to contribute to an HSA if you, or your spouse if married, is covered by an FSA.
If you are asking a...
See more...
Your question is not clear.
If you are asking about contributions, you are not allowed to contribute to an HSA if you, or your spouse if married, is covered by an FSA.
If you are asking about spending, then you are allowed to spend HSA funds for medical expenses, even if you are also covered by an FSA. But you can't double-dip. Any expense can only be reimbursed once.
When it comes to entering medical expenses on your tax return, you need to ignore expenses that were reimbursed from an FSA, because a medical FSA is not reported anywhere on your tax return (not contributions and not withdrawals). You should report expenses that were reimbursed from an HSA, and those expenses should match your withdrawals from the HSA.
8 hours ago
2025 Charity entry does not show in summary list for deductions. Initially it showed Available soon and prevented entry. It now shows Available now - but entered amount does not show. Looking to ...
See more...
2025 Charity entry does not show in summary list for deductions. Initially it showed Available soon and prevented entry. It now shows Available now - but entered amount does not show. Looking to 2024 comment - there was the exact same issue.
8 hours ago
Re the import from Duck to Turbo seems to have a lot of ceveats and instructions. I went and did a quick trial on Mac Desktop, and indeed you can export TXF from Duck and import into Turbotax but it...
See more...
Re the import from Duck to Turbo seems to have a lot of ceveats and instructions. I went and did a quick trial on Mac Desktop, and indeed you can export TXF from Duck and import into Turbotax but it doesn't fully populate due to limitations in the TXF format apparently, the items will go into NEEDS REVIEW and you have to go through and edit each entry. See here for more details https://deductibleduck.com/docs/how-to-guides/import-turbotax-win-mac-desktop/ I saw the help comment about a FMV tool also and asked one of the Intuit experts in the recent OBBB event but they had no information on it.
9 hours ago
Box 14 Code “C” (other self-employment income) on the K-1 isn't used to report ordinary partnership income. It should only appear in limited situations. Based off your initial disclosure of the type ...
See more...
Box 14 Code “C” (other self-employment income) on the K-1 isn't used to report ordinary partnership income. It should only appear in limited situations. Based off your initial disclosure of the type of business and activities, I doubt this would be the case.
If the partnership experienced an overall loss for the year, and partners show losses in Box 1 and Box 14A, a positive amount in Box 14C could be a reporting or software error.
If you believe the partnership has made an error on your Schedule K-1, notify the partnership. Ask for a corrected Schedule K-1. Don’t change any items on your copy of Schedule K-1. Be sure that the partnership sends a copy of the corrected Schedule K-1 to the IRS.
https://www.irs.gov/instructions/i1065sk1
9 hours ago
Topics:
9 hours ago
Oh, the age is 25 and not a full-time student.
9 hours ago
1 Cheer
Yes, the person must meet all the criteria. They are disqualified by their income. The income limit for being disqualified as a qualifying relative dependent is different from the income threshold ...
See more...
Yes, the person must meet all the criteria. They are disqualified by their income. The income limit for being disqualified as a qualifying relative dependent is different from the income threshold to file ones own return.