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Monday
The IRS will never call you. I suspect the phone number is used by Turbotax but not the IRS. Also, the address on your tax return should be where you can receive any notices or tax-related mail fro...
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The IRS will never call you. I suspect the phone number is used by Turbotax but not the IRS. Also, the address on your tax return should be where you can receive any notices or tax-related mail from the IRS. It does not have to be where you are domiciled. For example, you might use the overseas address where you live most of the time, or you might use the address of a trusted friend or relative in the US.
Monday
For education, In TurboTax (TT), enter at:
Federal Taxes Tab (Personal for H&B version)
Deductions & Credits
-Scroll down to:
--Education
--Education Expenses and Scholarships (1098-T)
...
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For education, In TurboTax (TT), enter at:
Federal Taxes Tab (Personal for H&B version)
Deductions & Credits
-Scroll down to:
--Education
--Education Expenses and Scholarships (1098-T)
or
--Student Loan Interest paid (form 1098-E)
For mortgage interest, in TurboTax (TT), enter at:
Federal Taxes Tab (Personal for H&B version)
Deductions & Credits
-Scroll down to:
-Your Home
-Mortgage Interest & refinancing (form 1098)
Monday
Couple things..... 1. You need to first find out if she still qualifies as your dependent, even if you don't claim her. You might not have a choice. Even if you don't claim her, she might have to...
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Couple things..... 1. You need to first find out if she still qualifies as your dependent, even if you don't claim her. You might not have a choice. Even if you don't claim her, she might have to file her return and check the box that says she can be claimed on someone else's return. How old is she? Is she a full time college student? 2. What exactly happened? In what order? Were both the returns efiled and both Accepted? Or did 1 return reject? Yours or hers? You only need to amend the return that was filed. Not the one that rejected. Why do you need to amend both? Did she try to claim herself and it was rejected?
Monday
Anyone knows?
Monday
1 Cheer
See publication 523 for a discussion of which costs do and don't adjust your basis. Most importantly, there is a difference between improvements (which do adjust basis) and repairs and maintenance (...
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See publication 523 for a discussion of which costs do and don't adjust your basis. Most importantly, there is a difference between improvements (which do adjust basis) and repairs and maintenance (which do not).
https://www.irs.gov/forms-pubs/about-publication-523
Monday
1 Cheer
The cost of improvements made in order to add value to your second home is added to your cost basis which decreases your capital gain when you sell.
Monday
Already answered in your other thread.
https://ttlc.intuit.com/community/after-you-file/discussion/amending-2024-tax-return/00/3697127
Monday
if not - should I amend this "useless" carryback to carry forward this amount (in this situation returns for 2 year should be amended)?
Topics:
Monday
Federal and state refunds come from completely separate entities, There is no rule as to which one will come first or how much time there will be between their arrivals. Some states process returns...
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Federal and state refunds come from completely separate entities, There is no rule as to which one will come first or how much time there will be between their arrivals. Some states process returns quickly and some are very slow.
STATE RETURN
Make sure your state return was accepted: https://turbotax.intuit.com/tax-tools/efile-status-lookup/
To track your state refund:
ttps://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr
https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0
Monday
"I wish to amend my return to remove my dependent daughter and claim her on her own return."
To be clear---you already filed a tax return and claimed your daughter as a dependent and now you wa...
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"I wish to amend my return to remove my dependent daughter and claim her on her own return."
To be clear---you already filed a tax return and claimed your daughter as a dependent and now you want to amend and remove her as a dependent? She will not be able to e-file if you already filed a return that used her Social Security number, so she will have to mail in her own return that says no one can claim her. She does not have to wait for you to amend.
Another thing she can try that may work is to get a six digit IRS PIN and try to e-file:
https://www.irs.gov/newsroom/irs-takes-steps-to-help-prevent-refund-delays-by-accepting-duplicate-dependent-returns-with-an-ip-pin-for-2025-filing-season-taxpayers-encouraged-to-sign-up-soon-for-ip-pin-online-account
https://www.irs.gov/identity-theft-fraud-scams/get-an-identity-protection-pin
When you amend your own return you will need to go to MY INFO to remove your daughter as a dependent.
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
Monday
If you were paid, that is taxable income. Did you get a 1099-MISC from the organization? Did you report the income on your federal and state return?
If you made a donation, whether paid or un...
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If you were paid, that is taxable income. Did you get a 1099-MISC from the organization? Did you report the income on your federal and state return?
If you made a donation, whether paid or unpaid, you are not allowed to claim a deduction for a charitable contribution for the value of your plasma, due to certain IRS rulings that I can explain if needed. You also can't take a deduction for medical expenses.
Is the state asking about a deduction you claimed, or income you failed to report?
Monday
The state of NJ is asking for proof of something I never claimed
Topics:
Monday
I wish to amend my return to remove my dependent daughter and claim her on her own return. Do I need to amend my return first and when accepted by IRS then amend the child's return ?
Monday
Are the improvements deductible from the capitol gains that I made when I sold the house. A second home.
Topics:
Monday
If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare, you will need to use online Premium software or any version of the desktop software do...
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If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare, you will need to use online Premium software or any version of the desktop software download so that you can prepare a Schedule C for your business expenses.
https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653
https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922
https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-self-employment-business-expenses-like-home/L1k6HJY4A_US_en_US?uid=m6jrthmp
https://turbotax.intuit.com/personal-taxes/self-employment-taxes/
https://www.irs.gov/newsroom/worker-classification-101-employee-or-independent-contractor
Monday
Do you mean that you received a 1099NEC from the business where you worked as a bartender? If you received a 1099NEC, you were not an "employee." The "NEC" part means "non-employee compensation."...
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Do you mean that you received a 1099NEC from the business where you worked as a bartender? If you received a 1099NEC, you were not an "employee." The "NEC" part means "non-employee compensation." You worked as an independent contractor and are considered to be "self-employed" by the IRS. The business where you worked issues a 1099NEC to you.
Monday
Are you asking about a 1098T for tuition? A 1098E for a student loan? Or a 1098 from a mortgage lender?
Monday
Do you mean 2017? The IRS and TurboTax save returns for seven years; after seven years, they are gone. The IRS might still have a transcript for 2017 which is not the same as the Form 1040, but i...
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Do you mean 2017? The IRS and TurboTax save returns for seven years; after seven years, they are gone. The IRS might still have a transcript for 2017 which is not the same as the Form 1040, but it will show the information.
https://www.irs.gov/individuals/get-transcript