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Friday
At the end of 2024, I paid $120 for a TurboTax Advantage subscription. On April 1, 2025, I installed TurboTax Desktop and activated my software with the license key. On April 15, 2025, I filed for an...
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At the end of 2024, I paid $120 for a TurboTax Advantage subscription. On April 1, 2025, I installed TurboTax Desktop and activated my software with the license key. On April 15, 2025, I filed for an extension. Now it’s October 2025, and I’m ready to file my 2024 tax return under that extension. However, just before filing, TurboTax is prompting me to pay $60 for Audit Defense again. I then noticed the fine print under TurboTax Advantage program terms and conditions: "To claim this member benefit, Audit Defense must be activated in your 2024 tax software by April 30, 2025." My questions are: Is the “Audit Defense activation” process separate from the normal TurboTax Desktop software activation process? If so, did I effectively forfeit my "free" Audit Defense benefit by filing for an extension and not explicitly activating AuditDefense before April 15, 2025? If answers are yes&yes, then this restriction seems unfair and not in line with fostering a positive relationship with customers.
Friday
On 2/18/25 I filed my taxes, not realizing that I had a penalty due to the distribution from one of my IRAs was less than the RMD, although total of all distributions exceeded total of all RMDs. I f...
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On 2/18/25 I filed my taxes, not realizing that I had a penalty due to the distribution from one of my IRAs was less than the RMD, although total of all distributions exceeded total of all RMDs. I filed an amended return which resulted in refunding the penalty amount, good. But now the IRS refuses to pay the refund and is requiring me to send corroborating documents for the amended return. They have all the docs I used to complete the two returns, but it looks like I will need to send them these with explanation of this error. My questions: - Has anyone had to go through this and how did you settle it? - Can Turbotax help in any way to resolve this? Thanks for any suggestions you all may have JaneT
Friday
How do I get Statement A in Turbo Tax?
Friday
"Say "Account Management"." Instead of "Account Managment", try " I have a question about Identity Theft". @ganar P.S. If the wait time is too short, you may not get the "call-me-back" opt...
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"Say "Account Management"." Instead of "Account Managment", try " I have a question about Identity Theft". @ganar P.S. If the wait time is too short, you may not get the "call-me-back" option.
Friday
TurboTax says I can't efile my Minnesota return without Form 6251. Form 6251 is in my federal return and Schedule M1MT is in my Minnesota return. Why won't TurboTax recognize this? It's now October a...
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TurboTax says I can't efile my Minnesota return without Form 6251. Form 6251 is in my federal return and Schedule M1MT is in my Minnesota return. Why won't TurboTax recognize this? It's now October and I see this problem has been going on since February. Has anyone figured out a solution?
Friday
When you requested your extension you were supposed to pay your estimated tax due. Did you enter the payment you made into your tax return?
Go to Federal>Deductions and Credits>Estimates...
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When you requested your extension you were supposed to pay your estimated tax due. Did you enter the payment you made into your tax return?
Go to Federal>Deductions and Credits>Estimates and Other Taxes Paid>Other Income Taxes
Friday
@17594354371 , based purely on your post, your assumptions are correct i.e. you file a form 1040 with a residency start date of "date of arrival". Note that you must use itemized deduction because o...
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@17594354371 , based purely on your post, your assumptions are correct i.e. you file a form 1040 with a residency start date of "date of arrival". Note that you must use itemized deduction because of "short filing year".
If you had any US sourced/ connected income prior to the residency start date, then you have to also file a form 1040-NR ( not supported by TurboTax) . In such a case you have to declare yourself as "Dual Status Filer" and include this notation on both the 1040-NR and 1040. It is best filing this by mail.
Is there more I can do for you ?
Friday
To check for corruption, I deleted form 4562 and added another back. This resulted in the same situation as before. Line 12 did auto-populate. It's equal to the sum of lines 9 and 10 but it's still r...
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To check for corruption, I deleted form 4562 and added another back. This resulted in the same situation as before. Line 12 did auto-populate. It's equal to the sum of lines 9 and 10 but it's still red. Not sure how to handle this except either file paper or file electronically without form 4562 which is actually required. Thoughts?
Friday
@ilona-miskell , assuming that what you are saying is that the property was owned by your father, then put in a revocable trust before his passing. At death of the decedent this trust became irrevoca...
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@ilona-miskell , assuming that what you are saying is that the property was owned by your father, then put in a revocable trust before his passing. At death of the decedent this trust became irrevocable. If that is correct then the usual "step-up" to FMV still operates. If the inheritor(s) now sell this property with the stepped-up value of FMV, then there should be NO Gain and hence no Capital Gain.
If on the other hand the property was indeed held in an irrevocable trust, then depending on exact facts and circumstances, the usual step-up may not apply. In such a case the trust may have to pay capital gain taxes on disposition of the asset. A lot depends on the actual trust document and so I would suggest that you consult a tax attorney i.e. if the prop. was indeed held in an irrevocable trust prior to passing of the decedent.
Friday
To amend your 2023 tax return you have to use the 2023 desktop software.
Before you start the amendment process make a backup copy of the .tax2023 file for your original tax return, so that you c...
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To amend your 2023 tax return you have to use the 2023 desktop software.
Before you start the amendment process make a backup copy of the .tax2023 file for your original tax return, so that you can back to the original if necessary, and in case anything goes wrong with the amended return. You can open the original return and use "Save As" to save a copy with a different name.
Friday
I need to amend 2023 tax return. Do I open 2023 on my desktop or 2024?
Friday
Scenario: A sole proprietor who is actively participating in printing business that he started in 2024 outside of his main job. During 2024 bought $65,000 worth of equipment for business. Business ha...
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Scenario: A sole proprietor who is actively participating in printing business that he started in 2024 outside of his main job. During 2024 bought $65,000 worth of equipment for business. Business had $30,000 in Revenues in 2024 and $15,000 in business related expenses. Also receive W-2 with $95,000 in wages through employment at ABC company as an employee and ABC is not related to the printing business. Want to take Sec 179 on the full cost of the equipment bought in 2024, will there be income limitation on taking Sec 179 under this scenario? Also, if there is an income limitation, will he be able to take 2024 bonus depreciation after Sec 179 and 1st year MACRS after that for Federal purposes? Will it be different for NYS purposes? Thank you.
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Friday
Thanks for your reply AmeliesUncle! Re: Sorry for the misunderstanding, but it doesn't go to waste. It is carried forward until it is eligible to be used (in your case, when Basis is restored). ...
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Thanks for your reply AmeliesUncle! Re: Sorry for the misunderstanding, but it doesn't go to waste. It is carried forward until it is eligible to be used (in your case, when Basis is restored). billydbrown: I recognized the partial amount allowed by basis. That's the part that goes to waste because it doesn't change my tax liability. Let me know if I'm missing something. Re: Form 6198 for At-Risk does not apply and should not be filed. Some people incorrectly use that to limit Basis (TurboTax does not limit it automatically, you need to do it manually), so some people incorrectly use Form 6198 (At-Risk) instead. Don't do that. billydbrown: I'm using my basis to define the limit but good to know I can ignore form 6198. Re: As for your problem about the error on line 12 of Form 4562, unfortunately, I'm not sure why that line did not auto-populate. Personally, I would remove the override and then finish the return and check for all other errors. Then see if something made it auto-populate (and also check if there is more than one 4562 on the return, just in case something is showing up on a separate form). billydbrown: I think it did auto-populate originally but I overrode it. Now, the software doesn't recognize the override nor does it allow me to cancel it. As mentioned originally, all options in the functions menu (rt click) are greyed out except the bottom "about..." link. There is only one form 4562 in my return. Is this file corruption. OK to delete the form?
Friday
Originally bought for 60k in 1993. Possible sale price $425k
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Friday
@Turbo54913 technical support for Win 10 has not been extended, it ends on Oct 14th 2025, other than ESU which provides critical/important security patches for 12 months. Some folks argue that count...
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@Turbo54913 technical support for Win 10 has not been extended, it ends on Oct 14th 2025, other than ESU which provides critical/important security patches for 12 months. Some folks argue that counts as "support". Either way, ESU was known when Intuit made their final decision to drop support for Win 10; since then the only thing that's changed is MS making it free if you backup settings to One Drive, or free in Europe. No doubt consumer lobbying of MSFT continues... see what happens next few weeks as the Win 10 support deadline passes and Intuit releases the 2025 version.
Friday
I filed an extension through TurboTax and sent tax payment amount that I expected would be owed. That number was low and I owed more which TT figured the penalty owed by using the date that I entered...
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I filed an extension through TurboTax and sent tax payment amount that I expected would be owed. That number was low and I owed more which TT figured the penalty owed by using the date that I entered I would pay. Coincidentally the same day I filed final tax form. The electronic filing instructions stated pay by 4/15. This is after I filed an extension and noted paid amount then in TT, so obviously TT should have directed to pay amount noted by day that I entered I would pay (10/2), so that the penalty amount would be correct. The bigger issue with TT though is that I was directed to send payment, even though the tax I filed through TT directed IRS to withdraw from my bank account directly.
Friday
@dmmullins2007 wrote: .....I will be looking for another service with this added feature going forward....... Unfortunately, that doesn't exist. Someone in another thread suggested the fo...
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@dmmullins2007 wrote: .....I will be looking for another service with this added feature going forward....... Unfortunately, that doesn't exist. Someone in another thread suggested the following tool, which has a nominal annual cost. https://www.deductibly.app/blog/itsdeductible-alternative
Friday
I am saddened to hear that the invaluable tool Its Deductible is being discontinued. I have used Turbo Tax with high esteem since 2007. If this feature is stopped, I will be looking for another ser...
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I am saddened to hear that the invaluable tool Its Deductible is being discontinued. I have used Turbo Tax with high esteem since 2007. If this feature is stopped, I will be looking for another service with this added feature going forward for taxes in 2025. Reconsider this decision, many of the loyal long-term users of your application will be exiting in droves.
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