All Posts
Tuesday
I contacted Turbotax to report a wrong calculation of one aspect of state taxes. I have verified that Turbotax is wrong with the state tax authority so I am 100% sure about it. I have a specific comm...
See more...
I contacted Turbotax to report a wrong calculation of one aspect of state taxes. I have verified that Turbotax is wrong with the state tax authority so I am 100% sure about it. I have a specific communication from the state tax authority confirming it. Turbotax support (even the Live Tax Advice - Stephanie) was terrible and did not care to follow up or really verify the information. I offered to share the reference information from the state tax authority site but they did not want it; they could not care less. I asked to speak with a manger and they simply hung up on me. I have been using Turbotax for so many years and I was a happy customer. I am so disappointed now. The 100% accuracy guarantee is not reliable. Unfortunately, the calculation error results in taxpayers paying more taxes than they should. I realized that recognizing this would be a major problem for Turbotax as they would have to tell their clients that they messed up. So, the likelihood of me addressing this is extremely low. Has anyone else encountered a similar situation? What is the next step in terms of escalation?
Tuesday
The IRS is only for federal returns. They won’t have a copy of your state return. Did you mail state to the federal IRSi stead of to your state? Turbo Tax and the IRS only keeps the last 7 yea...
See more...
The IRS is only for federal returns. They won’t have a copy of your state return. Did you mail state to the federal IRSi stead of to your state? Turbo Tax and the IRS only keeps the last 7 years. If they still have it…….. How to Access prior year online returns https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/00/27010 If you can't get the side menus to open up to access the prior year..... You need to start entering some basic Personal Info in 2024 for the side menu to open up. Just continue a little ways into 2024. I had to go though about 12 screens. If you used the Desktop CD/Download program then the only copy is on your computer and not saved or stored online. So you need to make and keep your own backups. Or request a transcript from the IRS https://www.irs.gov/individuals/get-transcript Or get a copy of your return using form 4506 https://www.irs.gov/pub/irs-pdf/f4506.pdf
Tuesday
TurboTax retains prior year online tax returns for the past seven years, A 2017 tax return would no longer be available if the TurboTax online editions were used for the 2017 return.
Tuesday
See this TurboTax support FAQ for how to contact a Tax Expert - https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-setup/connect-tax-expert-turbotax-live/L73wOZD5D_US_en_US?uid=me8y4...
See more...
See this TurboTax support FAQ for how to contact a Tax Expert - https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-setup/connect-tax-expert-turbotax-live/L73wOZD5D_US_en_US?uid=me8y4gjx
Tuesday
Please remove the Credit Card number, expiration date and the Security Code from this post.
Tuesday
Topics:
Tuesday
If you don't have the main .tax file you might have one that starts with a Tilde sign ~ like "~your name.tax2024". That file is if your computer crashes or your real file gets lost or deleted or co...
See more...
If you don't have the main .tax file you might have one that starts with a Tilde sign ~ like "~your name.tax2024". That file is if your computer crashes or your real file gets lost or deleted or corrupt so you can restore it.
Tuesday
YIKES! Please edit your post and remove the credit card numbers! It is not safe! This is a public forum and the whole world can see it to scam you.
Tuesday
Until you get in contact with official Turbo Tax maybe post which state and what’s wrong here in this forum. Maybe someone will know about it and if it’s been fixed or why it’s wrong.
Tuesday
I was charged $229 for all my taxes. I did the state tax myself where is my refund of $69 for my state they never put it on my card it is (PII Removed)
Topics:
Tuesday
The state can not be accepted unless the federal was accepted first. So if state is Accepted that means federal was also accepted When you efile you get back 2 emails. The first email only co...
See more...
The state can not be accepted unless the federal was accepted first. So if state is Accepted that means federal was also 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?
Tuesday
This is a tilde-prefixed file which is the last backup saved by TurboTax the last time you exited from your primary TurboTax file. If you have somehow the deleted the primary TurboTax file (...Tax R...
See more...
This is a tilde-prefixed file which is the last backup saved by TurboTax the last time you exited from your primary TurboTax file. If you have somehow the deleted the primary TurboTax file (...Tax Return.2024) and restart TurboTax then you will be asked if you want to begin what will be a new file because TurboTax does not recognize the tilde-prefixed as a primary file. If you then use Window File Explorer to access the tilde-prefixed file by locating it in the TurboTax directory and clicking on it then Windows File Explorer knows that TurboTax created the file and will have TurboTax open it so that you can then exit TurboTax while making sure that TurboTax saves a backup. This should leave you with a primary TurboTax file and a tilde-prefixed backup TurboTax file.
Tuesday
I have a single member LLC and also have a Solo 401K. I am filing as Schedule C. Can I contribute as an employee & employer? I understand this is possible under an S-Corp, but it seems like I can’t g...
See more...
I have a single member LLC and also have a Solo 401K. I am filing as Schedule C. Can I contribute as an employee & employer? I understand this is possible under an S-Corp, but it seems like I can’t get a straight answer as to filling under Schedule C.
Topics:
Tuesday
1 Cheer
"Printed" means it was not e-filed. If you chose to file by mail, you had to print it, sign it in ink and mail it yourself. TurboTax does not mail tax returns for you.
E-filing is closed fo...
See more...
"Printed" means it was not e-filed. If you chose to file by mail, you had to print it, sign it in ink and mail it yourself. TurboTax does not mail tax returns for you.
E-filing is closed for 2023, so you now need to print it, sign and date it in ink, and mail it to the IRS (and state).
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
I contacted Turbotax to report a wrong calculation of one aspect of state taxes. I have verified that Turbotax is wrong with the state tax authority so I am 100% sure about it. I have a specific comm...
See more...
I contacted Turbotax to report a wrong calculation of one aspect of state taxes. I have verified that Turbotax is wrong with the state tax authority so I am 100% sure about it. I have a specific communication from the state tax authority confirming it. Turbotax support (even the Live Tax Advice - Stephanie) was terrible and did not care to follow up or really verify the information. I offered to share the reference information from the state tax authority site but they did not want it; they could not care less. I asked to speak with a manger and they simply hung up on me. I have been using Turbotax for so many years and I was a happy customer. I am so disappointed now. The 100% accuracy guarantee is not reliable. Unfortunately, the calculation error results in taxpayers paying more taxes than they should. I realized that recognizing this would be a major problem for Turbotax as they would have to tell their clients that they messed up. So, the likelihood of me addressing this is extremely low. Has anyone else encountered a similar situation? What is the next step in terms of escalation?
Tuesday
2022 was accepted, but there is no data about 2023, and i did the same process with both.
Tuesday
We own a resort condo that is rented out as a short term rental by a property management company. We are about to replace all the original furniture with new. Can we take a personal itemized tax d...
See more...
We own a resort condo that is rented out as a short term rental by a property management company. We are about to replace all the original furniture with new. Can we take a personal itemized tax deduction for donating the old furniture which is either fully or partially depreciated? If so, how is the basis determined?
Topics:
Tuesday
It sounds like you must have actually had three transactions involving the same security. One was the actual wash sale itself, in which the security was sold at a loss, and part or all of the loss wa...
See more...
It sounds like you must have actually had three transactions involving the same security. One was the actual wash sale itself, in which the security was sold at a loss, and part or all of the loss was disallowed. That means you cannot claim the full amount of the loss on that sale.
For that to have been a wash sale, you must have bought the same security within 30 days before or after the wash sale. The shares that you bought are called "replacement shares" for the shares that you sold in the wash sale. The purchase of the replacement shares does not appear on your 1099-B or your tax return, but the purchase is what makes the first sale a wash sale.
Finally, it seems like you must have later sold the replacement shares. The disallowed loss from the wash sale is added to the basis of the replacement shares when they are sold. That reduces your gain, or increases your loss, on the sale of the replacement shares. In effect you get to claim the disallowed loss from the wash sale when you sell the replacement shares. The disallowed loss is added to the basis of the replacement shares, not to the basis of the shares in the wash sale.
The disallowed loss is not double counted. It reduces your loss on the wash sale, but it increases your loss, or reduces your gain, on the sale of the replacement shares. One offsets the other. It's a minus in one place and a plus in the other place. Adding it to the basis of the replacement shares offsets the original disallowed loss, so you come out even.
If you made more than three transactions for the same security the situation is probably more complicated.