All Posts

MY SPOUSE LIVES ABROAD AND/OR DOES NOT HAVE A SSN https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/married-person-claim-head-household-filing-status/L078u1RSW_US_en_US?uid=lmtc1ov4 https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/file-taxes-spouse-nonresident-alien/L4AuRKrMd_US_en_US?uid=m5r1a77j https://www.irs.gov/individuals/international-taxpayers/nonresident-spouse   https://turbotax.intuit.com/tax-tips/family/claiming-a-non-citizen-spouse-and-children-on-your-taxes-/L6VM4IzTQ

@user17671144466   Are you using the Desktop installled program?  Besides the What-If worksheet you can just start a new return to test in.  The Desktop program can do unlimited returns.  Go up to File-New and it will first save your current return.  I have many test returns to help answering questions on mine.  

You've got your hands full with the NUA and QBI.. Fortunately, being retired for 20 years, my situation simple by comparison. I believe ChatGPT was correct relative to the LTCLoss.  It boils down to Proceeds minus Basis. In your case, all is prorated if half is sold. Long‑term capital loss offsets other LT gains    

  WHAT IF…? If you are using Desktop software: With your return open, click Forms in the upper-right-hand corner Click Open Form In the Search area, type the word what. You should see the What If Worksheet listed, click to open it.

M-Mtax, I understand the question.  First, my quote is actually 17500, and I don't expect anything major at this point (furnace and water heater done in 2024). i live i So Cal so property is a little pricey and therefore 10k is the lower of the limits. I think I could take about 9k this year before hitting the limit leaving 8500 next year.   But AmeliesUncle got me looking further about Roof repairs. seems like most responses on internet search would lean towards Capital expense (depreciate), but throwing this out there in case either of you (or other Community members) can further opine, or possibly point to a credible source that  leans toward current expense. I took ownership in 2020. Roof (asphalt shingles) approaching near end of its life but has held on. No leaks thus far and don't want to risk that so doing the work soon.   I relooked at the quote detail. It's simply a asphalt shingle overlay (they are not removing existing shingles - I recall now that you can do this once before having to remove shingles on future replacement (a weight issue). so no underlayment (paper) replacement......does that possibly impact classification?    Thanks all

MAGI is calculated differently for different purposes. There are over a dozen different definitions of MAGI, depending on what it's being used for. What do you need your MAGI for? For most purposes the details of the MAGI calculation are not shown in TurboTax. The calculation is done behind the scenes. Even the calculated MAGI amount might not appear in TurboTax, unless it's required on an IRS form. There is only one situation where TurboTax has a worksheet for calculating MAGI, and it's a very uncommon situation.  

You should consider changing your W-4 for 2026 so that you have enough tax withheld.     W-4 https://turbotax.intuit.com/tax-tools/calculators/w4/  https://www.irs.gov/individuals/tax-withholding-estimator https://www.irs.gov/pub/irs-pdf/fw4.pdf  

The timing of the MAGI calculation depends on the specific program, credit, or deduction for which it is being used to determine eligibility.   What type of income or credit are you trying to find that uses Modified Adjusted Gross Income?

How disability income is reported on a tax return  depends on the source of the income and who paid the premiums for any insurance plan. The payer of your benefits will typically send you a form (such as a Form W-2, Form 1099-R