All Posts
5 hours ago
It's possible to file an amended return of an already-amended return, but it's not exactly supported by the software, so I believe you'll need to follow the below Community advice for the correct met...
See more...
It's possible to file an amended return of an already-amended return, but it's not exactly supported by the software, so I believe you'll need to follow the below Community advice for the correct method(s) to prepare your re-amended filing. You should also wait until your initial amended return has been accepted by the IRS, and you can check that here.
Basically, to do the second amended return you have to start with a dummy "original" return that incorporates the changes that were made by the first amended return. Then you can simply go through the normal amending process. There are two ways to produce the dummy original return. Both ways are hard to explain and to understand.
One way always works, for both federal and state, but it's for desktop only, and you have to have a copy of the .tax file for the actual original return that you filed, before the first amended return. You make a copy of the .tax file for the original return with a different name. Open the copy and make the changes that you made in the first amended return, but without going through the amending process. That gives you an original return that incorporates the changes from the first amended return. A variation of this method, if you don't have the .tax file for the original return, is to create a new return from scratch, reproducing the original return. But that's a lot of work and very error-prone.
The other way is to open the first amended return and delete the Form 1040X. That will leave you with what appears to be an original return, but incorporates the changes from the first amended return. This will usually work for the federal return only. In theory it should work for the state also, but some states don't let you delete the amended form, or it immediately comes back after you delete it. Sometimes deleting the state amended form makes the federal 1040X reappear. The results vary for different states, and sometime vary even for the same state, depending on the exact sequence of steps that you follow. With some states there seems to be a problem even deleting the federal 1040X.
Via @VolvoGirl
5 hours ago
Even though Column B of your Form 1095-A is zero, a value is required for that field. As DawnC mentioned, you can look up your Second Lowest Cost Silver Plan (SLCSP) and use that number for Column B....
See more...
Even though Column B of your Form 1095-A is zero, a value is required for that field. As DawnC mentioned, you can look up your Second Lowest Cost Silver Plan (SLCSP) and use that number for Column B. See What's SLCSP? for a link to the health coverage tax tool. Column C can be zero.
5 hours ago
As your proceed through the state interviews in TurboTax, most will have questions about penalties, filing extensions, and amending a return. It's possible that you may have clicked yes to filing an...
See more...
As your proceed through the state interviews in TurboTax, most will have questions about penalties, filing extensions, and amending a return. It's possible that you may have clicked yes to filing an amended return in the New York interview, which is why TurboTax would be asking you about it.
5 hours ago
I send my tax form by mail and it’s been 6 weeks and no news i am starting to worry.
Topics:
5 hours ago
To adjust your returns so that only your income is taxed by New York (NY) and both incomes are correctly reported in New Jersey (NJ), you must use the Income Allocation screens in your tax software. ...
See more...
To adjust your returns so that only your income is taxed by New York (NY) and both incomes are correctly reported in New Jersey (NJ), you must use the Income Allocation screens in your tax software. When filing a joint return as nonresidents, NY requires you to report your total joint federal income first to determine a base tax rate. However, you then allocate only your specific wages to NY so that the final tax is only applied to your portion.
In the NY state tax section, look for a screen titled "New York Income Allocation" or "W-2 Summary". When asked if all your wages were earned in NY, select No. You will see a list of W-2s for both you and your spouse. Choose to allocate your W-2 - you can select "Allocate by Number of Days" or "100% NY" if your employer considers all your remote work as NY-sourced under the "convenience of the employer" rule. Select "0% NY" or "Don't allocate this employer" for your spouse's W-2.
NY uses an "Income Factor" (NY income divided by total income) to calculate your final tax. After allocating, this factor should reflect only your wages, significantly reducing the tax amount and potential penalties.
5 hours ago
If you need an IP PIN, you must obtain your 6-digit PIN from the IRS, as you cannot e-file without it if this is an issue. You should have gotten a letter from the IRS with the 6-digit number. If not...
See more...
If you need an IP PIN, you must obtain your 6-digit PIN from the IRS, as you cannot e-file without it if this is an issue. You should have gotten a letter from the IRS with the 6-digit number. If not, you can create an account on the IRS website to get it.
Get an identity protection PIN (IP PIN)
5 hours ago
Please use the link below to contact us regarding your questions.
How do I contact TurboTax?
5 hours ago
How do I contact the person who did who filed my taxes? Her name is Mitchie
Topics:
5 hours ago
In order to owe no taxes on your self-employment business, you would need to report at least as much in business expenses as the income you report for the business.
To enter this in TurboTax On...
See more...
In order to owe no taxes on your self-employment business, you would need to report at least as much in business expenses as the income you report for the business.
To enter this in TurboTax Online, go to Self-Employment Schedule C.
5 hours ago
Check this Arizona Department of Revenue website for details on credits for charitable contributions. There are maximum limits to the credits offered for those contributions, so it may be possible t...
See more...
Check this Arizona Department of Revenue website for details on credits for charitable contributions. There are maximum limits to the credits offered for those contributions, so it may be possible that you contribution exceeded the maximum allowed to get credit for your full contribution.
5 hours ago
What problem are you having, that you are filing Married Separate, and the Review is telling you that "Family should not be checked, etc."?
Have you tried what worked for many taxpayers, to jus...
See more...
What problem are you having, that you are filing Married Separate, and the Review is telling you that "Family should not be checked, etc."?
Have you tried what worked for many taxpayers, to just delete the 8889-S (see below)?
If this did not help, then do the HSA Reset and start over on the HSA data.
HSA RESET
***Reset***
1. make a copy of your W-2(s) (if you don't have the paper copies)
2. delete your W-2(s) (use the garbage can icon next to the W-2(s) on the Income screen)
*** Desktop/Windows***
3. Go to the upper right and click on Forms, and
4. Select the desired form (1099-SA (if one), 8889-T, and 8889-S (if one)). Note the Delete Form button at the bottom of the form’s screen.
*** Desktop/Mac***
3. Switch to Forms Mode by selecting the Forms icon.
4. From the menu, select the form (1099-SA (if one), 8889-T, and 8889-S (if one)) you want to remove (if you don't see it, select Open Form at the top). From the Forms menu, select Remove [form name].
*** Online ***
3. go to Tax Tools (on the left), and navigate to Tools->Delete a form
4. delete form(s) 1099-SA (if one), 8889-T, and 8889-S (if one)
5. go back and re-add your W-2(s), preferably adding them manually
6. go back and redo the entire HSA interview....
5 hours ago
If you see the "Needs Review" tag for your self-employed business, the best option is to run Federal Review. Smart Check will provide more information about the entry that is missing or needs your at...
See more...
If you see the "Needs Review" tag for your self-employed business, the best option is to run Federal Review. Smart Check will provide more information about the entry that is missing or needs your attention. If the tag is not resolved after running Smart Check, try the following:
Log out of TurboTax Online, refresh your browser, and clear your cookies and cache. Then restart your browser and log into TurboTax again. Or try a different browser.
For more help, please see:
How do I delete cookies?
How to clear your cache
5 hours ago
If you refinanced in 2021, it will forever be a refinance. The reason this is important is because you can only deduct the interest on the portion of the loan that was used to buy, build or substant...
See more...
If you refinanced in 2021, it will forever be a refinance. The reason this is important is because you can only deduct the interest on the portion of the loan that was used to buy, build or substantially improve the home in which it secures. So if you refinanced it, and you took cash out for anything other than a major renovation or improvement to the home, the interest on that portion of the loan would not be deductible.
5 hours ago
A lot of how the information transferred from your broker is populated in TurboTax has to do with the file they provide. The electronic file transmitted to TurboTax may be different that what is on y...
See more...
A lot of how the information transferred from your broker is populated in TurboTax has to do with the file they provide. The electronic file transmitted to TurboTax may be different that what is on your printed Form 1099-B. It is best then to review the entries in TurboTax to make sure they match what is on your printed form.
You edit investment sales in the Wages and Income section of TurboTax, then Investment Income, then Stocks, cryptocurrency, Mutual Funds, Bonds, etc... You will see your investments listed and you can use the dropdown arrow next to them to find the edit option.
5 hours ago
in my 2025 return Capitol loss carryover is $0,, even though I had $27750 carryover from 2024. If I follow the instructions to manually enter, the Investment income screen there is nothing relating to...
See more...
in my 2025 return Capitol loss carryover is $0,, even though I had $27750 carryover from 2024. If I follow the instructions to manually enter, the Investment income screen there is nothing relating to capitol loss carry over. The screen does not have a START or UPDATE button to add capitol loss carryover
Topics:
5 hours ago
Since the exchange already happened, you don't "report" the conversion itself as a taxable event in the year you move in. However, the move presents a set of rules you must follow to preserve your ta...
See more...
Since the exchange already happened, you don't "report" the conversion itself as a taxable event in the year you move in. However, the move presents a set of rules you must follow to preserve your tax benefits for when you eventually sell. Here are some things you need to consider before selling your house at a future date.
1. The Two-Year "Safe Harbor" Rule
Before you move in, you must ensure you’ve met the holding period requirements. To satisfy the IRS (under Revenue Procedure 2008-16), the property must typically be treated as an investment for at least 24 months immediately following the exchange.
In each of those two 12-month periods, you must have rented the property at a fair market rate for at least 14 days.
Your personal use of the property during those two years cannot exceed 14 days or 10% of the days it was rented.
2. Reporting the Change in Use
There is no specific tax form to "notify" the IRS that you are moving in. Instead, the reporting change happens on your Schedule E:
You simply stop reporting rental income and expenses for that property as of the date you moved in.
Depreciation stops: You can no longer claim depreciation once the property is no longer used for business/investment.
3. The Five-Year Ownership Rule
If you eventually sell this home and want to claim the Section 121 exclusion (the $250k/$500k gain exclusion), you cannot do so after only two years of residency. For properties acquired via a 1031 exchange, you must own the property for at least five years before you can claim any primary residence exclusion.
4. Calculating Gain Upon Sale (The "Gotchas")
When you finally sell the home, you won't get the full tax exclusion you might expect. You have to account for two things:
Depreciation Recapture
Any depreciation you claimed (or could have claimed) while it was a rental must be "recaptured" and taxed at a flat rate of 25%. You cannot "exclude" this portion of the gain.
Non-Qualified Use
Under the Housing Assistance Tax Act of 2008, you must pro-rate the gain based on "qualified" vs. "non-qualified" use.
Non-Qualified Use: The time the property was a rental.
Qualified Use: The time the property was your primary residence.
Example Calculation: If you owned the home for 10 years total—5 years as a rental and 5 years as a primary residence—only 50% of the gain (after depreciation recapture) is eligible for the $250k/$500k exclusion.
I know this information may be overwhelming but this is a fairly complex issue with many nuances. Knowing what to expect will mitigate any surprises when or if you sell your house at a future date.
5 hours ago
You should receive a text message or email when your return is transmitted and when it is accepted. Click here for information on how to check the status of your return.
5 hours ago
In order to get that box checked you will have to go through the interview process at the beginning again. When you tell the system that you are filing married-filing-separately it will ask a series...
See more...
In order to get that box checked you will have to go through the interview process at the beginning again. When you tell the system that you are filing married-filing-separately it will ask a series of questions. They include asking if you and your spouse lived together for the majority of the year. Once you've answered those questions the system will check that box.