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Tuesday
Lobbying is legal bribery. You treat the American people as marks. Be ashamed. And you stole my settlement money as well as my money in 2022.
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Tuesday
Usually mid December.
Tuesday
Why do you expect it to be taxed differently? You are taxed on the amount of income you earned -- whether it was weekly pay or a bonus. When you prepare your tax return, the software will reconcil...
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Why do you expect it to be taxed differently? You are taxed on the amount of income you earned -- whether it was weekly pay or a bonus. When you prepare your tax return, the software will reconcile the amount of income you earned against the amount of tax withheld to determine if you owe more or if you get a refund.
Tuesday
Only conversions to a Roth IRA are excludible from MAGI for the purpose of determining Roth IRA contribution limits. In-plan Roth Rollovers are not excludible from this MAGI. (As the terms are defi...
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Only conversions to a Roth IRA are excludible from MAGI for the purpose of determining Roth IRA contribution limits. In-plan Roth Rollovers are not excludible from this MAGI. (As the terms are defined in the tax code, an In-plan Roth Rollover is not a Roth conversion.) To eliminate the excess contribution for 2025, you'll either need to obtain an explicit return of the excess Roth IRA contribution or you'll need to request that the Roth IRA custodian recharacterize the excess to be a traditional IRA contribution instead.
Tuesday
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Tuesday
Has anyone else noticed that the senior deduction is double what it should be on the TurboTax refund estimator for tax year 2025?
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Tuesday
What SSN do you see on page one of your Form 1040? What did you enter for your SSN when you entered information into MY INFO? Has the return been e-filed with the incorrect SSN-- or have you just ...
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What SSN do you see on page one of your Form 1040? What did you enter for your SSN when you entered information into MY INFO? Has the return been e-filed with the incorrect SSN-- or have you just printed it and not yet filed it?
Tuesday
Someone may have some suggestions for you----but first we need more information. You say that you "printed" your 2022 return. What software did you use to prepare that return? Did you use onlin...
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Someone may have some suggestions for you----but first we need more information. You say that you "printed" your 2022 return. What software did you use to prepare that return? Did you use online software--a couple of years ago-- or did you recently use the desktop download software for 2022? Did you file the return at all-- or just print it? When you entered information into MY INFO----what did you enter for your SSN?
Tuesday
Roth IRA accounts are all one Roth IRA account as far as the IRS is concerned. Similarly for IRA accounts (but not 401(k) accounts). The 5-year clock you are referring to starts Jan 1 of the year...
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Roth IRA accounts are all one Roth IRA account as far as the IRS is concerned. Similarly for IRA accounts (but not 401(k) accounts). The 5-year clock you are referring to starts Jan 1 of the year you put your first dollar into ANY Roth IRA account, even if you closed that account decades ago. If that occurred for you at least five years ago, and you are older than 59 1/2, there are no five year rules for you to worry about any more.
Tuesday
It seems that you like to make this comment and perhaps didn't read my response to you in another thread where you claim TT is still using 2024 "numbers". > 2025 software mostly uses the 2024 num...
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It seems that you like to make this comment and perhaps didn't read my response to you in another thread where you claim TT is still using 2024 "numbers". > 2025 software mostly uses the 2024 numbers until AT LEAST the mid-December update What gave you that idea? What numbers are you talking about? The 2025 tax brackets, deductions, even much of the OBBB changes (including the extended senior deduction) were in the initial public release around the first of November. When I first move estimates into TT, I compare with Dinkytown (where I do estimates prior to TT release) and did not find any discrepancy. I've been using TT for end of the year estimates since the 1990s. While it is certainly true that the forms aren't finalized or approved by the IRS, and there are certain areas (such as handling complex qualified distributions) that aren't fully functional yet, and of course a few bugs, the assertion that "the numbers" are from 2024 is just wrong. For the most common numbers such as tax brackets and things indexed to inflation, the TY2025 numbers were finalized by the IRS over a year ago.
Tuesday
I was trying to figure this out myself. It appears that 7(b)(2) "Refigured total income tax deduction" is the what the total deduction from the previous year would have been if the refunded amou...
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I was trying to figure this out myself. It appears that 7(b)(2) "Refigured total income tax deduction" is the what the total deduction from the previous year would have been if the refunded amount had never been payed in the first place. For example, if you payed $1000 and were refunded $400, then figure the previous year's deductions as if had you only payed $600 in the first place. Because of the SALT cap, the result may or may not be less than the original deduction, and may be less by an amount less than the refund.
Tuesday
1 Cheer
Called Intuit support yesterday. After a lot of trial and error we found that the problem was with Webroot Anywhere antivirus program. If I suspend Webroot, Turbotax 2025 runs. Once I activate W...
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Called Intuit support yesterday. After a lot of trial and error we found that the problem was with Webroot Anywhere antivirus program. If I suspend Webroot, Turbotax 2025 runs. Once I activate Webroot, the problem returns. I tried to have Webroot allow Turbotax but no luck. Contacted Geek Squad and they were unsuccessful. I have switched to Fortect Security Suite and Turbotax works. I will contact Webroot to see if they have a work around. It would have been nice if Turbotax had a log to help identify problems.
Tuesday
If one has multiple ROTH IRA accounts, does IRS handle them as just having one account? In detail: I have an "old" over 5 years Roth Ira with substantial growth over the years. And now, I want to cre...
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If one has multiple ROTH IRA accounts, does IRS handle them as just having one account? In detail: I have an "old" over 5 years Roth Ira with substantial growth over the years. And now, I want to create more separate Roth Ira accounts to see easily my finances. I convert traditional IRAs to new ROTH accounts, which are long term investments. I am not going to touch them for over five years. I know the Ordering Rule of IRS, but it is not clear in this case. Will IRS handle the multiple Roth accounts one by one? If another account "matures" over 5 years old, will I be able to use it just like my "old" Roth account? In this sense, does it make sense to have multiple separate Roth accounts? Thanks in advance for clarification. And, can Turbotax handle this kind of Tax case? Regards, Zoltan
Tuesday
Living in Florida has nothing to do with this issue. Florida has no state income tax; you only need to file a federal tax return.
SALE OF HOUSE
If your gain was more than $250,000 ...
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Living in Florida has nothing to do with this issue. Florida has no state income tax; you only need to file a federal tax return.
SALE OF HOUSE
If your gain was more than $250,000 filing Single, or more than $500,000 filing Married Filing Jointly the sale must be reported on your tax return. Whether you re-invested the gain in to another house is irrelevant. If you have a Form 1099-S go to Federal>Wages and Income>Less Common Income>Sale of Home (gain or loss)
If you owned and lived in the home as your primary residence for at least 2 of the last 5 years on the date of the sale, you do not have to report the home sale if the gain is less than $250K filing Single, or less than $500K filing Married Filing Jointly (and you both owned and lived in the home for at least 2 years).
If you are using online TT, you need Premium software to report the 1099-S
Tuesday
I sold my previous home I purchased in 2018 in July of this year (2025). I reside in FL and I know that I will be open to taxation on federal capital gains for the sale and my question is this... ...
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I sold my previous home I purchased in 2018 in July of this year (2025). I reside in FL and I know that I will be open to taxation on federal capital gains for the sale and my question is this... My profits did not exceed the $250,000 as I am a single filer and I lived in the house the entire time I owned it, never rented it and was my primary residence the entire 7 years. Will I get the 1099 form when it comes time to file? Am I correct in from the little that I do understand from what I've read that since I did not make more than the $250k in profits I won't have to pay any taxes on the federal capital gains for FL? This is the first time going through this and I am so unsure and am having anxiety over this. Any help is appreciated. Thank you. - Dave
Tuesday
DID YOU E-FILE?
Did you e-file? Did you go through all three steps of the FILE section and click a big orange button that said “Transmit my returns now?”
When you e-file your return...
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DID YOU E-FILE?
Did you e-file? Did you go through all three steps of the FILE section and click a big orange button that said “Transmit my returns now?”
When you e-file your return you will get two emails from TurboTax. The first one will say your return has been transmitted; the second one will tell you the IRS has accepted or rejected your federal e-file. If you filed a state return, there will be a third email (usually a day or two later) that tells you if the state e-file was accepted or rejected.
Check your e-file status:
https://turbotax.intuit.com/tax-tools/efile-status-lookup/
What does it say in your account? Does it show that the return was accepted? Or does it say something else---like "rejected," "printed," or "ready to mail?”
Tuesday
The online software for 2025 returns will become available sometime within the next week or so--it is not yet ready for you to use.
Each tax year has to be filed separately using the forms for ...
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The online software for 2025 returns will become available sometime within the next week or so--it is not yet ready for you to use.
Each tax year has to be filed separately using the forms for the specific tax year. They cannot be combined in any way--do not even put them in the same envelope when you mail them. Software for past years is available back to 2022. Any earlier years can only be prepared on paper forms by hand--and those refunds have been forfeited now.
Online preparation and e-filing for 2022, 2023, and 2024 is permanently closed.
Note: The desktop software you need to prepare the prior year return must be installed/downloaded to a full PC or Mac. It cannot be used on a mobile device.
To file a return for a prior tax year
If you need to prepare a return for 2022, 2023, or 2024 you can purchase and download desktop software to do it, then print, sign, and mail the return(s)
https://turbotax.intuit.com/personal-taxes/past-years-products/
You may also want to explore purchasing the software from various retailers such as Amazon, Costco, Best Buy, Walmart, Sam’s, etc.
Remember to prepare your state return as well—if you live in a state that has a state income tax.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0
When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s. Use a mailing service that will track it, such as certified mail so you will know the IRS/state received the return.
Federal and state returns must be in separate envelopes and they are mailed to different addresses. Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.
Tuesday
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
Tuesday
I have been renting the camper for 2 years
Tuesday
I have been renting my camper for 2 years