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2 hours ago
For 2025
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2 hours ago
You owe the federal? Yes, you can say you will mail a check and then pay it later either by check or direct debit from your bank account or by credit card. But if you pay after April 15 they may a...
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You owe the federal? Yes, you can say you will mail a check and then pay it later either by check or direct debit from your bank account or by credit card. But if you pay after April 15 they may add interest on it.
2 hours ago
If the plan uses a calendar year, you are correct that separating from service by the end of 2024 would mean that you are not covered for 2025 because you are not eligible for additions for 2025 d...
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If the plan uses a calendar year, you are correct that separating from service by the end of 2024 would mean that you are not covered for 2025 because you are not eligible for additions for 2025 due to no longer being an employee. However if the plan uses a fiscal year, just because you were not an employee on December 31, 2024 does not necessarily mean that you are not an active participant for 2025. It depends on which month the plan's fiscal year ends and when in 2024 contributions were made. If the employer's plan uses a fiscal year instead of a calendar year and the employer or, while still employed, the employee made contributions for the plan year that ends in the year after the year that the employee separated from service, the individual is an active participant. The marking of box 13 Retirement plan on a W-2 issued for the year following the year the employee separated from service would reflect that, and that's what the IRS goes by. For example, if the plan uses a fiscal year ending on January 31, an employee who made an elective deferral in February 2024 would be considered to be an active participant for 2025. By itself, that contribution in February 2024 would not make them covered for 2024 because it was made for the plan year that ends in 2025.
2 hours ago
Can you clarify what notice you got?
Does it have a heading?
Does it have any action required?
What description is in the body of the message?
2 hours ago
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2 hours ago
how can i get taxes billed and not have to pay at time of filing
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2 hours ago
@mmrtnz0921 Did you get a letter and bill from the IRS changing your tax due? Or have a tax penalty on 1040 line 38?
3 hours ago
Any HSA contributions in box 12 were already subtracted from your box 1 taxable wages, so you already got the tax benefit by having lower income, therefore lower taxes. If you think your employer ha...
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Any HSA contributions in box 12 were already subtracted from your box 1 taxable wages, so you already got the tax benefit by having lower income, therefore lower taxes. If you think your employer has not reduced your box 1 taxable wages, you need to discuss with your employer to get clarification and possibly a corrected W-2.
3 hours ago
prorate farming losses
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3 hours ago
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3 hours ago
Will this help? How to enter income from Self Employment https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653
3 hours ago
Hello, I moved to the USA in May 2025 as a green card holder. I am unsure about the rules for filing a full-year return versus a dual-status return. Since I am unable to file a dual-status return t...
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Hello, I moved to the USA in May 2025 as a green card holder. I am unsure about the rules for filing a full-year return versus a dual-status return. Since I am unable to file a dual-status return through TurboTax online (there is no where I can indicate my move date), does this mean I need to report all income on a full-year return, including the period from January to April? If so, would this result in double taxation for that period, given that I also filed a final return in Canada? I understand that foreign tax credits may be available for the non-resident period, but I am unclear how to determine those amounts, particularly since deemed dispositions were reported on departure. Would it be acceptable not to report income earned from January to April if none of it was U.S.-source income? I want to ensure I am complying with the rules, but I would appreciate guidance on the most appropriate approach that would be acceptable to the IRS. Thank you very much in advance for your assistance.
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3 hours ago
I read this on another post.... When you click in the left column tab for Deductions & Credits, it may take you to a page called "Your Tax Breaks. Lower on that same screen should be a button or lin...
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I read this on another post.... When you click in the left column tab for Deductions & Credits, it may take you to a page called "Your Tax Breaks. Lower on that same screen should be a button or link for "Add more tax breaks" or "Show more tax breaks" or similar wording. When clicked, then the screen should expand, and all the deduction topics are displayed including "Estimates and Other Taxes Paid." Then that topic can be expanded further to get the subtopic Estimated Tax Payments.
3 hours ago
Thank you!
3 hours ago
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3 hours ago
I would like some assistance filing the Form 8379 since the IRS intercepted my refund due to my spouse owing taxes prior to us getting married.
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3 hours ago
@Bobbydru Were these Estimated payments? Although that is an odd amount for estimates. The IRS will probably catch that and add them in for you. Or what were these payments?
3 hours ago
You can't recover the depreciation in the current year TurboTax, but you can go back to the previous year return and find the Depreciation and Amortization Report. Using that report, you can add the ...
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You can't recover the depreciation in the current year TurboTax, but you can go back to the previous year return and find the Depreciation and Amortization Report. Using that report, you can add the prior and current year depreciation together to get the accumulated depreciation that you can use to report the sale of the building. You will see an option to print out your prior year tax return, including the worksheets, on your home page when you log into TurboTax. You report the sale in the business section of TurboTax, on the screen that says Let's gather your business info. Find the Less Common Business Situations menu and choose Sale of Business Property. @jimsack
3 hours ago
The deduction is based on your date of birth in My Info. So it is included.
You will only see the Standard or Itemized deduction on line 12e of your tax return.
However, the Senior Ded...
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The deduction is based on your date of birth in My Info. So it is included.
You will only see the Standard or Itemized deduction on line 12e of your tax return.
However, the Senior Deduction is reflected on line 13b .
Line 13b includes multiple deductions
Senior deduction
No tax on tips
No tax on Overtime
No tax on car loan interest.
It is reflected on Schedule 1A, Part V, Line 37
There's a $6,000 deduction for individuals older than 65, and a $12,000 deduction would apply to couples who qualify.
For more information, see Deductions for Seniors.
3 hours ago
I sold some NFL tickets via NFL Ticket Exchange, I did not get a 1099-K. I know I need to report the sale, even the losses. How do I enter this information? The 2025 version of Turbo Tax appears d...
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I sold some NFL tickets via NFL Ticket Exchange, I did not get a 1099-K. I know I need to report the sale, even the losses. How do I enter this information? The 2025 version of Turbo Tax appears different than what I did in 2024.