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The issue is whether the IRS considers that you flipped the house with the intent of making a profit. If so, you are in business and would generate the 1099-NEC. It doesn’t matter that you are an “in... See more...
The issue is whether the IRS considers that you flipped the house with the intent of making a profit. If so, you are in business and would generate the 1099-NEC. It doesn’t matter that you are an “individual”. 
No thank you. Not buying last years software just to input comparative data. 
I'm passed disappointment!  the first time I needed help TT fails me, I will not use them again in the future. 
Greetings,   Happy Holidays. I did back door Roth contribution (non-working spouse) through Fidelity in Nov 2024. Deposited funds held in Trad IRA before available to transfer to Roth IRA. Based on... See more...
Greetings,   Happy Holidays. I did back door Roth contribution (non-working spouse) through Fidelity in Nov 2024. Deposited funds held in Trad IRA before available to transfer to Roth IRA. Based on order history, I converted Full available (7000.85: CONV TO ROTH IRA) on 11/25/2024. A few days later, I noticed there was dividend amount received for the time the funds were in Traditional IRA. I did not file any form for that dividend in 2024 filing or transfer that amount (now total $21) to Roth.    1. Reported 7000.85 in 2024 filing on 1040 form as IRA distribution (4a) - based on form received from Fidelity. Any additional filing I missed? 2. How to address dividend amount in Traditional IRA (now its 2025 filing time).   Thanks in advance.  
  @Alanprater1953  IF...if you used the "Online" TTX software last year (i.e. for 2024 taxes) Then, before you can see and download your 2024 tax forms: 1)  You are required to start thru a number... See more...
  @Alanprater1953  IF...if you used the "Online" TTX software last year (i.e. for 2024 taxes) Then, before you can see and download your 2024 tax forms: 1)  You are required to start thru a number of pages of tea 2025 software first. 2) Once the left-side menu shows up more fully, you can click on Tax Home....then scroll down the page to expand and display any prior year's taxes you prepared in that account. ____________________________ @Alanprater1953
You can create a 1099 when using Quick Employer Forms. Go to this TurboTax website for information on QEF - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/create-w-2-1099-for... See more...
You can create a 1099 when using Quick Employer Forms. Go to this TurboTax website for information on QEF - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/create-w-2-1099-forms-employees-contractors/L0yjM6jDz_US_en_US
I know i need to file two spereate schedule Cs but im asking how and where do i do this. Is there a way to manually do this on turbo tax or will it ask me as I am working. Forms aren't available yet ... See more...
I know i need to file two spereate schedule Cs but im asking how and where do i do this. Is there a way to manually do this on turbo tax or will it ask me as I am working. Forms aren't available yet and I've never done more than one so I'm just trying to figure out what to expect.
TurboTax (TT) does not automatically prepare a School District return (form SD100), you must initiate it. At the screen, in the Ohio program, titled  "A few things before we wrap up your state taxe... See more...
TurboTax (TT) does not automatically prepare a School District return (form SD100), you must initiate it. At the screen, in the Ohio program, titled  "A few things before we wrap up your state taxes"       scroll down to School District taxes.  Or later at the screen  "Your 2022 Ohio Taxes are ready for us to check"     -Click Other situations     -Scroll down to School District taxes.   Usually  the School District Income Tax (SDIT) return  is e-filed with the state return, but there are exceptions. Read the Ohio 'filing instructions" that TurboTax prepares, They will tell you if the SD100 was e-filed or if you have to mail it.   If it was prepared, it will be on the list of Ohio forms, whether actually filed or not.   Note: Beginning in 2024, TT will ask “Do you want to file your School District taxes”, if your W-2 showed SD withholding in box 19.
Why should we have to use 2024 and adjust and guess?
I am SO disappointed with TurboTax.  I just wanted the basics and NO, did not do it!  I am so disappointed, really?
Please post a clearly worded question regarding your income tax return here -- if you have an actual question.
This is the user forum for TurboTax where we help with questions about completing income tax returns and questions about the tax software.   We do not help with car problems, unless those problems ar... See more...
This is the user forum for TurboTax where we help with questions about completing income tax returns and questions about the tax software.   We do not help with car problems, unless those problems are related in some way to your tax return.  Do you have an income tax question to ask?
Paying your TurboTax fees did not file your tax return.  Did you go all the way through the FILE section and click the big orange button that said "Transmit my returns now?"       DID YOU E-F... See more...
Paying your TurboTax fees did not file your tax return.  Did you go all the way through the FILE section and click the big orange button that said "Transmit my returns now?"       DID YOU E-FILE?   Did you e-file?   Did you go through all three steps of the FILE section and click a big orange button that said “Transmit my returns now?”     When you e-file your return you will get two emails from TurboTax.  The first one will say your return has been transmitted; the second one will tell you the IRS has accepted  or rejected your federal e-file.  If you filed a state return, there will be a third email (usually a day or two later) that tells you if the state e-file was accepted or rejected.   Check your e-file status:   https://turbotax.intuit.com/tax-tools/efile-status-lookup/    What does it say in your account?  Does it show that the return was accepted?   Or does it say something else---like "rejected," "printed," or "ready to mail?”   If you discover or realize that your e-file was rejected, you will need to print it, sign and date it in ink, and file it by mail now, since e-filing is closed for returns for tax year 2024.    
I have an LLC and will be purchasing an RV to travel to work sites periodically. Should I purchase the RV in my business name or personal name? I do not give myself a W2 and there will be no personal... See more...
I have an LLC and will be purchasing an RV to travel to work sites periodically. Should I purchase the RV in my business name or personal name? I do not give myself a W2 and there will be no personal use. 
here's a list of actions you should take. also change the passwords and if possible user IDs you are currently using. assuming you have a cell phone, on the websites that have the provision, use two-... See more...
here's a list of actions you should take. also change the passwords and if possible user IDs you are currently using. assuming you have a cell phone, on the websites that have the provision, use two-step verification.   Credit Agencies 1) Report the identity theft to the fraud department of one of the following reporting agencies as soon as possible. They must notify the other two agencies. Equifax: equifax.com Experian: experian.com TransUnion: transunion.com 2) Request a copy of your credit report and request that only the last four digits of your Social Security number be placed on the report. 3) Close accounts that you think have been compromised or opened fraudulently. 4) Inform the credit bureaus and the credit issuers (in writing) of any fraudulent accounts and incorrect information. 5) Obtain replacement credit cards with new, secure account numbers and destroy any old cards. 6) Notify those who have received your credit report in the last six months to alert them to any disputed, fraudulent or incorrect information. 7) Confirm that an extended fraud alert (seven years) is placed on your credit report.   Federal Trade Commission (FTC) 1) Report the crime to the FTC to establish an Identity Theft Affidavit.   Local Police 1)Report the crime to your local police or sheriff’s department. Make sure to prompt as much documented evidence as possible. 2)Verify that the report lists the fraudulent accounts and keep a copy of the report.   Internal Revenue Service (IRS) 1) Contact the IRS to report the theft. This will alert them to any claim for refund or other activity on your account. File IRS Form 14039 Identify Theft Affidavit. get an IP Pin   State Tax Agency 1) Contact your state tax agency to report the theft. Some agencies may require a police report and/or the IRS affidavit.   Other Agencies and Organizations 1) U.S. mail fraud: Contact your local postal inspector. Online: postalinspectors.uspis.gov Phone: 800.275.8777 2) Social Security number misuse — non-IRS issues: -Check your earnings record to make sure no one is using your SSN to obtain work. Call your local Social Security Administration (SSA) office if something looks inaccurate. -Contact the SSA Inspector General to report Social Security benefit fraud, employment fraud, or welfare fraud. Online reporting resources: - socialsecurity.gov/oig - Fraud Reporting Form SSA fraud hotline: 800.269.0271   I would also contact the VA https://www.va.gov/contact-us/#call-us 
IRS publications and form instructions are not official documents that taxpayers can rely on if they follow them and they are wrong.  A couple did rely on a publication that had an error. The IRS cau... See more...
IRS publications and form instructions are not official documents that taxpayers can rely on if they follow them and they are wrong.  A couple did rely on a publication that had an error. The IRS caught them. Hit them with taxes penalties and interest. They went to court citing reliance on the publication. The court said too bad that pub is not official.    pub 334 also says this Interest and Dividend Income Interest and dividends may be considered business income. Interest received on notes receivable that you have accepted in the ordinary course of business is business income. Interest received on loans is business income if you are in the business of lending money.     thus if an entity not in the business of lending money were to make a loan and collect interest, that interest would not be business interest.    so is interest on a business checking account business interest or not? in my opinion, if the entity is not in the business of earning interest income (like a financial institution does) it's non-business.
Hi!   1. it was Canada  2. while I was physically in my home country 3 it’s part of a stipend program - while you work there, if you took on extra work, you could trade the credits for a stipend.... See more...
Hi!   1. it was Canada  2. while I was physically in my home country 3 it’s part of a stipend program - while you work there, if you took on extra work, you could trade the credits for a stipend. I left before the project was complete, so I could still receive the stipend but it couldn’t be ‘cashed out’ until the project was complete, even if I was no longer involved. They misfiled my employee status from when I was employed (one status employee could use this program, others couldn’t, I could but it took a long time to sort out).