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Sunday
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Sunday
Full time faculty and recently married. Spouse will be attending undergraduate program starting in a few weeks. The school is aware and has copies of our marriage license/certificate and spouse has b...
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Full time faculty and recently married. Spouse will be attending undergraduate program starting in a few weeks. The school is aware and has copies of our marriage license/certificate and spouse has been awarded tuition remission. Must I file a new w2? How do I fill it out? Must we file joint can we file separate and still remain untaxed for the tuition remission? Does she have to be my dependent? We's prefer to be married/file separate but don't want to mess up the paperwork. Thanks
Sunday
$2000 per child is the maximum.
The "additional child tax credit" is a different way of calculating the same child tax credit. The main credit can only offset taxes you owe, it can't be refu...
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$2000 per child is the maximum.
The "additional child tax credit" is a different way of calculating the same child tax credit. The main credit can only offset taxes you owe, it can't be refunded if you owe less than $4000 of tax (in your case). The "additional child tax credit" can be refunded even if you owe no tax, but only if you have income from working. Since you already qualify for the full $2000 child tax credit, the "additional child tax credit" is ignored.
Sunday
Filing of the return is based on IRS records. Rejection of the amended return for said reason means you can file revised correct 1040 rather than 1040-X. If TurboTax says you e-Filed, US Mail is...
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Filing of the return is based on IRS records. Rejection of the amended return for said reason means you can file revised correct 1040 rather than 1040-X. If TurboTax says you e-Filed, US Mail is your fallback option. @helenehallowell
Sunday
The first estimated payment is for Jan1 - March31 due Apr 15. If your estimated tax plus withholding is not 25% of your Required Annual Payment , then you can be penalized, This is the simplified ...
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The first estimated payment is for Jan1 - March31 due Apr 15. If your estimated tax plus withholding is not 25% of your Required Annual Payment , then you can be penalized, This is the simplified formula, default. Bulking up the second payment to reach 50% can zero your penalty on the 2nd period. Otherwise, use Form 2210 Schedule AI to further reduce or eliminate penalties, @Bob4FrenchFries Required Annual Payment is the smaller of 90% of the year's tax or 100% ( 110% for certain high income taxpayers) of the prior year's tax.
Sunday
The problem with the FAQ is step 8: > Continue through the screens to make the necessary changes to your state return. In my case the "necessary changes" include updating Federal Schedule A. ...
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The problem with the FAQ is step 8: > Continue through the screens to make the necessary changes to your state return. In my case the "necessary changes" include updating Federal Schedule A. This seems to trigger also doing a Federal amended return even though the Schedule A changes don't impact it (because I'm using the standard deduction).
Sunday
Thank you. But we have already completed the IP Pin step with the amended submission. One more question...someone at the can IRS along the way said that our original return was never received so...
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Thank you. But we have already completed the IP Pin step with the amended submission. One more question...someone at the can IRS along the way said that our original return was never received so the amended return will also be rejected. How do I prove that the original was already sent through TT and subsequently rejected in order for my mailed in amended return to be processed without further delay?
Sunday
Accepted doesn’t mean Approved. What does the IRS say? When you filed was your return Accepted? When you efile you get back 2 emails. The first email only confirms the transmission. The secon...
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Accepted doesn’t mean Approved. What does the IRS say? When you filed was your return Accepted? When you efile you get back 2 emails. The first email only confirms the transmission. The second email says if the IRS (or state) Accepted or Rejected your efile. And check your spam folder for them. When you log into your account you should also see the status and if it was Accepted or Rejected, Started, Printed, Ready to Mail, etc. What does it say? How to check the efile status https://ttlc.intuit.com/turbotax-support/en-us/help-article/electronic-filing/check-e-file-status/L9XhHDPtD_US_en_US
Sunday
@ anthonybrewington21 wrote: I filed my 2024 tax refund on the IRS app it says it has not yet been accepted but on credit karma it says it has I didn’t get no notice n I been waiting since march 1...
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@ anthonybrewington21 wrote: I filed my 2024 tax refund on the IRS app it says it has not yet been accepted but on credit karma it says it has I didn’t get no notice n I been waiting since march 11 Why wouldn’t they send my money if it says it has been accepted The IRS does not use the word "accepted" for a refund. "Accepted" refers to the initial efile status. Don't confuse "accepted" with "approved." Did you mean to say that the IRS shows that it has not yet been "approved?" What is currently showing at the IRS "Where's My Refund" tool in a browser: https://www.irs.gov/wheres-my-refund Is there any message there? Depending on what you see there, we may be able to tell you how to check on it. Here are some tips when using that IRS WMR tool: Be sure you enter the correct tax year, SSN, and filing status. Be sure you are using only the Federal refund amount. Do not include any state refund or any total refund or net refund (Fed and State) that TurboTax may have provided on a summary screen. Look at your actual Federal return to get the Federal refund amount to use in the tool, i.e., your Form 1040, Line 35a.
Sunday
Why wouldn’t they send my money if it says it has been accepted
Topics:
Sunday
Should I amend my 2024 1040 return if I own digital assets?
Sunday
Gambling
To enter the W-2G or other documents For your Gambling winnings--Go to Federal>Wages & Income>Less Common Income>Gambling Winnings
You can enter your winnings, and then keep clicking th...
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Gambling
To enter the W-2G or other documents For your Gambling winnings--Go to Federal>Wages & Income>Less Common Income>Gambling Winnings
You can enter your winnings, and then keep clicking through the interview to enter gambling losses.
https://www.irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses
Gambling winnings are taxable income. Losses are an itemized deduction. If you do not have enough itemized deductions to exceed your standard deduction, your losses will have no effect.
https://blog.turbotax.intuit.com/income-and-investments/how-are-gambling-winnings-taxed-8891/
2024 STANDARD DEDUCTION AMOUNTS
SINGLE $14,600 (65 or older/legally blind + $1950)
MARRIED FILING SEPARATELY $14,600 (65 or older/legally blind + $1550)
MARRIED FILING JOINTLY $29,200 (65 or older/legally blind + $1550)
HEAD OF HOUSEHOLD $21,900 (65 or older/legally blind + $1950)
Sunday
If you had income of your own that was entered on a joint return with your spouse, you can file an injured spouse form to seek the part of the refund that could be attributed to your own earnings. I...
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If you had income of your own that was entered on a joint return with your spouse, you can file an injured spouse form to seek the part of the refund that could be attributed to your own earnings. If you are in a community property state it gets pretty tricky.
INJURED SPOUSE
https://ttlc.intuit.com/turbotax-support/en-us/help-article/spouse-partner/file-form-8379-injured-spouse-allocation/L3KVDvR02_US_en_US?uid=ltmrgzbp
Note: Using the injured spouse form delays your refund for at least 14 weeks.
Sunday
Did you pay $25 for the 5 day early refund Early Tax Refunds | Fast Tax Refunds with TurboTax The “”5 day early” date is based on the date given to you on the IRS refund site—-not the date the ...
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Did you pay $25 for the 5 day early refund Early Tax Refunds | Fast Tax Refunds with TurboTax The “”5 day early” date is based on the date given to you on the IRS refund site—-not the date the TT site shows in your account. If your refund does not come in five days ahead of the IRS date, they are supposed to cancel the $25 fee. See this thread Solved: Federal refund send date of 2/24. I paid the extra to have the 5 days advance. Today makes 5 days early but nothing changed on turbo. Will I get refunded for no advance?
Sunday
Yes 1 more year matters. Those of us who chose to get the 1 year updates were all caught flatfooted by the TT announcement. We needed way more warning. Personally I will be changing Tax Programs. Ye...
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Yes 1 more year matters. Those of us who chose to get the 1 year updates were all caught flatfooted by the TT announcement. We needed way more warning. Personally I will be changing Tax Programs. Yes 1 more year gives us way more time to get a win 11 computer
Sunday
https://www.irs.gov/wheres-my-refund
Sunday
You report all of your winnings. If you itemize you deduct your documented losses but no more than what you won.
Sunday
"... a much smaller amount than I am being made to pay." Doubtful. Trust income-tax rates are generally higher than individual tax rates unless the amount of income is quite small. For 2024, t...
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"... a much smaller amount than I am being made to pay." Doubtful. Trust income-tax rates are generally higher than individual tax rates unless the amount of income is quite small. For 2024, trusts reach the 37% tax bracket at $15,200 of taxable income. Also, to be taxable to the trust, the income has to be retained by the trust. If the income is distributed to you, you end up paying the tax anyway, passed through on Schedule K-1 (Form 1041), and the trust takes a deduction for distributable net income to remove it from the trust's taxable income.