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Thursday
@TerryHays
SE tax is not income tax. If you were a W-2 employee, your SS tax is not reduced by any income tax credit or deduction -- everyone pays. SE tax is the same. If you have no income sub...
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@TerryHays
SE tax is not income tax. If you were a W-2 employee, your SS tax is not reduced by any income tax credit or deduction -- everyone pays. SE tax is the same. If you have no income subject to income tax, you can't use the solar credit. Maybe you can create some taxable income, such as by converting a pre-tax 401k, pension or IRA to a Roth IRA--then your solar credit can offset the tax, making the conversion essentially free.
Thursday
where do I declare capital gains exemptions for sale of house?
Thursday
I am trying to download the Qualified Dividends and Capital Gain Tax Worksheet. When I open TurboTax, I do not see a Forms option. I only see Documents option and those are the documents that I uplo...
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I am trying to download the Qualified Dividends and Capital Gain Tax Worksheet. When I open TurboTax, I do not see a Forms option. I only see Documents option and those are the documents that I uploaded. There doesn't seem to be a way to view or download that worksheet.
Thursday
I have filed and paid all of my taxes for 2024 federal and California state taxes. I am not a california resident since 2022 and have already amended my taxes for 2033. I received my full refund for ...
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I have filed and paid all of my taxes for 2024 federal and California state taxes. I am not a california resident since 2022 and have already amended my taxes for 2033. I received my full refund for taxes paid plus interest. I am trying to amend my 2024 taxes with TurboTax, and after entering all the information, it states that I owe 0 dollars for Federal income tax, and a refund of over 9,000 dollars for state taxes already paid. However, after filing, it says I should print and mail in the form 1040-V which states I owe 9,421 dollars and to send a check with the form. I already paid all of my federal income tax. Can anyone explain why TurboTax is so screwed up this year? I have already spent more than 35 hours online and on the phone to fix the problem with the program itself not opening.
Thursday
the program listed the amt. I owe on the start page and cover letter.... didn't realize that last page on the amt. owed is different... now IRS is charging me interest and penalties because I paid wh...
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the program listed the amt. I owe on the start page and cover letter.... didn't realize that last page on the amt. owed is different... now IRS is charging me interest and penalties because I paid what they said to mail in...not amt. listed owed on the last page can't access the guarantee turbotax promises
Thursday
The section of the tax code allowing special 10-year averaging refers specifically to the tax-rate schedule in section 1 of the Internal Revenue Code of 1954, so subsequent changes to the tax rate sc...
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The section of the tax code allowing special 10-year averaging refers specifically to the tax-rate schedule in section 1 of the Internal Revenue Code of 1954, so subsequent changes to the tax rate schedule have had no effect on how the tax is calculated with regard to special 10-year averaging.
Thursday
To enter a Form 1099-MISC that is not for self-employment -
Click on Federal (Personal using Home & Business) Click on Wages & Income (Personal Income using Home & Business) Scroll down to Other ...
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To enter a Form 1099-MISC that is not for self-employment -
Click on Federal (Personal using Home & Business) Click on Wages & Income (Personal Income using Home & Business) Scroll down to Other Common Income On Form 1099-MISC, click the start or update button
Or enter 1099-misc in the Search box located in the upper right of the program screen. Click on Jump to 1099-misc
On the screen Did you get a 1099-MISC?, click on Yes On the screen Let's get the info from your 1099-MISC, enter the amount received in box 3 and continue On the screen Describe the reason for this 1099-MISC, enter a reason and Continue On the screen Does one of these uncommon situations apply? - Select None of these apply and continue On the screen Did the (reason) involve work that's like (your name) main job - Select No and continue On the screen How often did (your name) get income for (reason) - Select 2024 and continue On the screen Did the (reason) involve an intent to earn money? - Select No and continue
The amount entered from the Form 1099-MISC will be entered on Schedule 1 Line 8z The total from Schedule 1 Part I Line 10 flows to Form 1040 Line 8
Thursday
2017
https://www.irs.gov/pub/irs-prior/i1040gi--2017.pdf
https://www.irs.gov/pub/irs-prior/f1040--2017.pdf
https://www.irs.gov/pub/irs-prior/f1040a--2017.pdf
https://www.irs.gov/pub/i...
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2017
https://www.irs.gov/pub/irs-prior/i1040gi--2017.pdf
https://www.irs.gov/pub/irs-prior/f1040--2017.pdf
https://www.irs.gov/pub/irs-prior/f1040a--2017.pdf
https://www.irs.gov/pub/irs-prior/i1040a--2017.pdf
https://www.irs.gov/pub/irs-prior/f1040ez--2017.pdf
https://www.irs.gov/pub/irs-prior/i1040ez--2017.pdf
https://www.irs.gov/prior-year-forms-and-instructions
Thursday
1 Cheer
Hi @user17579891076,
With this additional context that you turned 73 in 2024, you are correct that you would have had until April 1, 2025 to take the RMD from your IRA. In this case, you do not...
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Hi @user17579891076,
With this additional context that you turned 73 in 2024, you are correct that you would have had until April 1, 2025 to take the RMD from your IRA. In this case, you do not need to fill out form 5329 for tax year 2024.
For the IRA distribution that you received on 12/29/24, for which you have a 2024 1099-R, you would enter that in the TurboTax interview, and when you reach the area that asks for the RMD due by 12/31/24, you would enter a 0, because your RMD was not due until April 1, 2025, since you just turned 73 in 2024.
Again, there will be no need for a form 5329 for you for tax year 2024, given that you had no RMD due until April 1, 2025.
Thursday
Federal and state refunds come from completely separate entities. There is no rule as to which one will come in first or how long it will be between their arrival in your account.
TurboTax giv...
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Federal and state refunds come from completely separate entities. There is no rule as to which one will come in first or how long it will be between their arrival in your account.
TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer. “21 days” is not a promise from TurboTax or the IRS.
First, check your e-file status to see if your return was accepted:
https://turbotax.intuit.com/tax-tools/efile-status-lookup/
Once your federal return has been accepted by the IRS, only the IRS has any control. TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.
You need your filing status, your Social Security number and the exact amount (line 35a of your 2024 Form 1040) of your federal refund to track your Federal refund:
https://www.irs.gov/refunds
To track your state refund:
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr
If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refunds-take-longer-others/L14YlqFrH_US_en_US?uid=lexdr7zh
.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/irs-refund-taking-longer-21-days/L2vRAJbdU_US_en_US?uid=lexe7lst
Thursday
@thetaxdestroyer Someone misunderstood. You do not file separate tax returns for different kinds of income. All of your income was supposed to be included on your original Form 1040, including any...
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@thetaxdestroyer Someone misunderstood. You do not file separate tax returns for different kinds of income. All of your income was supposed to be included on your original Form 1040, including any crypto. If you filed without including that income, your return will need to be amended after it has been fully processed.
It is not clear how you prepared your original return. You mention your property tax. So....did a tax preparer do a Form 1040 that itemized your deductions including your property tax? If you paid a professional tax preparer, then have that preparer do the amended return.
If you used TurboTax for your original return, you can amend it yourself.
Wait until your original return has been fully processed before you amend, and make sure you have saved a pdf of the original return before you amend. (If you do not save it as a pdf, the amended return will overwrite the original, and the original will be lost forever)
See this TurboTax support FAQ for amending a tax return -
CURRENT YEAR
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-federal-tax-return-current-year/L7eS6o1qh_US_en_US?uid=lfunevhk
Do not expect quick results from amending. It can take four months or more for the IRS to process an amended return.
You can watch for information here:
https://www.irs.gov/Filing/Individuals/Amended-Returns-(Form-1040-X)/Wheres-My-Amended-Return-1
Thursday
To apply for a payment plan with the IRS
Apply Online for a Payment Plan
WHAT IF I CANNOT PAY MY TAX DUE?
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-payments/pa...
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To apply for a payment plan with the IRS
Apply Online for a Payment Plan
WHAT IF I CANNOT PAY MY TAX DUE?
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-payments/pay-taxes/L8aQBCpPO_US_en_US?uid=m9iryksw
Thursday
So here is the progress made. Nothing ... absolutely nothing. As an employed person who paid into this system for 35 years with W2 paychecks and contributing to Medicare/SS I retired and took on an...
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So here is the progress made. Nothing ... absolutely nothing. As an employed person who paid into this system for 35 years with W2 paychecks and contributing to Medicare/SS I retired and took on another role. As as self employed 1099 person I did not realize how messed up this tax system is in the US. The answers provided on this question answer how the solar credit is rolled over year after year with making an impact on the Fed Tax liability. Combined line 14 on the 5695 is set to 0 because the line-14 worksheet uses the 1040 line 18 as its source of tax liability, which is non-self-employment tax (1099 line 23). So if you are self-employed 1099Misc paid the chances of using this promised solar-credit is minimal. The SE tax rate is nearly 15% of Net Profit with no cap amount while W2's pay 50% or 7.5% with a cap amount. But then this solar industry and the government have known this since the beginning. Make the promises, give them the credit but don't allow them to utilize it. The easy solution would be to use 1040 line 24 (total Fed tax) but then everyone would benefit from the promised energy credits.
Thursday
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Thursday
Im so confused now. I called turbotax and they told me that I could file for just my crypto.
Thursday
they come at different times. the Turbotax 21 days is an estimate. check the IRS website for the status of your Federal refund. if you have questions, you can post back in this thread.
https://www....
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they come at different times. the Turbotax 21 days is an estimate. check the IRS website for the status of your Federal refund. if you have questions, you can post back in this thread.
https://www.irs.gov/wheres-my-refund
Thursday
It’s been over the timeline
Topics:
Wednesday
Here we go again. Pathetic, really. Been using TT for 15 years and each year have felt less and less like a valued customer. Nonetheless stuck with them because I knew the program so well, but lik...
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Here we go again. Pathetic, really. Been using TT for 15 years and each year have felt less and less like a valued customer. Nonetheless stuck with them because I knew the program so well, but like many of you I have reached the tipping point and will now search for other alternatives. Too bad really, that in the US today it's all about the money and nothing else. Loyalty to customers? Ha!